J375 Mini quiz questions
____________ refers to the extent to which marketers can reach the targeted segments with promotional or distribution efforts. Identifiable Substantial Responsive Accessible Actionable
Accessible
____________ refers to the degree to which segments provide guidance for marketing decisions. Substantial Responsive Actionable Accessible Identifiable
Actionable
In which value chain activity does the following example best fit? To service or repair your car, Lexus will pick it up from your house and give you a loaner car to use for the during of the repairs/service. -HR Management -Operations -Marketing and sales -Firm infrastructure -After sales service
Aftersales service
Which of the following is a common criticism of the value chain analysis? -It is hard to accurately determine the value of each (sub)activity that leads to the sale of a final product or service -The value generated by joint optimization and coordination efficiencies are hard to quanitify -It may be seen as placing the customer last -All of the above are common criticisms
All of the above are common criticisms
Spotify holds strong to the belief that it competes in a winner takes all market and pursues a freemium business model as a result of this. Objectives Capabilities and Resources Assumptions Response
Assumptions
At what level of strategy are Tissot, Swatch, Breguet, Omega, Longines (they are all owned by The Swatch Group, Inc.)? Corporate Functional Operational Business
Business
________________ is about developing and sustaining a competitive advantage for a business delivering an identifiable set of products and/or services. It is relevant for a single business in a larger corporation, or for a firm with a single business providing related offerings. Functional Strategy Competitive Strategy Operational Strategy Business Strategy
Business Strategy
What movie theatre industry is for the film distribution industry? Suppliers Buyers Substitutes Rivals
Buyers
Which of the following is not a typical resource classification? -Financial resources -Casual resources -Human resources -Physical resources
Casual resources
When making a strategic recommendation, the manager/ strategist should focus on which of the following? -Clarity, concisness, precision, persuasion -Industry, market, and segmentation -Resources, capabilities, and core competences -Self-actualization, esteem, belonging and safety
Clarity, conciseness, precision, persuasion
Audi competes using a differentiation strategy in the auto industry - which level does Audi compete on? Competitive Operational Corporate Functional
Competitive
Facebook's decision to buy Whatsapp, Instagram and Oculus is taken at what level? Functional Operational Business Corporate
Corporate
At which level is Microsoft Corporation, which operates various SBUs, including intellegent cloud, Productivity & Business Processes and More Personal Computing and whose CEO is Satya Nadella? Competitive Strategy Corporate Strategy Operational Strategy Functional Strategy
Corporate Strategy
The C-Level executives of a diversified firm predominately deal with what strategic level? Corporate Strategy Business Strategy Managerial Strategy Functional Strategy
Corporate Strategy
_________ is concerned with the selection of businesses in which the company should compete and with the development and coordination of that portfolio of businesses Functional Strategy Competitive Strategy Operational Strategy Corporate Strategy
Corporate Strategy
What does the 'I' signify in the VRIO analysis? -Impeccable -Interested -Industry -Costly to imitate (inimitable)
Costly to imitate (inimitable)
A strategy planning meeting develops four proposed solutions, of which they prioritize one which they will implement in the next quarter' would fit best into which of the 3 D's? Decide Diagnosis Deliverate Delivery
Decide
The __________ element entails using a structured, analytical approach to make reasoned, insightful, and logical choices about what will be done to overcome the key challenge or to seize the opportunity. Deliberate Decide Diagnose Deliver
Decide
What would be typically the first step in carrying out a value chain analysis?
Define the focal company's boundaries and define its strategic business units. In doing this, it is important to do so consistently with unit operations, which may or may not overlap with organizational charts.
When applying the five forces model, the first step should ideally be which of the following? -Define the relevant industry -Assess the overall industry structute -Identify the underlying drivers of each force -Draw a strategic-group map
Define the relevant industry
The __________ element entails designing solutions to integrate a policy or choice into a business and then taking coherent action to implement that solution. Deliver Decide Deliberate Diagnose
Deliver
Many middle-level managers are tasked with specific roles to execute a planned strategic initiative' would fit best into which of the 3 D's? Discuss Delivery Deliberate Decide
Delivery
The question: "What's going on inside an organization that may be impacting firm competitiveness or maybe a source of competitiveness in the future?" is typically asked in which of the three D's? Diagnose Deliver Discuss Deliberate
Diagnose
'Internal strategy group during a workshop specifies the increased threat of e-commerce' would fit best into which of the 3 D's? Decide Discuss Diagnosis Delivery
Diagnosis
A CEO identifies that they have a core competence in supply chain and logistics' would fit best into which of the 3 D's? Decide Delivery Deliberate Diagnosis
Diagnosis
Which of the following is not one of the three D's i.e. the three elements that are central to the strategic management process? Diagnose Deliver Dodge Decide
Dodge
Which category of STEEP would: 'A sharp shift for manufacturers to find more sustainable energy sources' best fit into? Economic Ecological Political Technological Sociocultural
Ecological
Which category of STEEP would: 'A sharp increase in inflation in the past year, with a similar jump in inflation expected in the coming year' best fit into? Economic Technological Ecological Sociolcultural
Economic
Which of the following is not a construct in a competitor analysis? -Response -Assumptions -Environment -Strategies
Environment
A STEEP analysis is typically conducted late in the strategic planning process. True/False
False
The decision by HR managers to hire more international analysts is taken at which level of strategy? Functional Competitive Corporate Business
Functional
In which value chain activity does the following example best fit? Many people wish to work in Google due to the unique culture they have developed. When carrying out a value chain analysis for Google, where would this example fit? -Outbound logistics -R&D -HR Management -Operations -Marketing and sales
HR Management
______________ refers to the extent to which managers can identify or recognize distinct groups within the marketplace. Actionable Accessible Responsive Substantial Identifiable
Identifiable
Which of the following is the first step in a competitor analysis? -Gather intelligence on competitors -Consolidate, analyze, and organize information -Identify current and future competitors -Derive strategic implications for the focal firm
Identify current and future competitors
Where does the example fit? IKEA is an illustration of social complexity, path dependency and causal ambiguity making it extremely tough to copy their business model. Valuable Inimitable Organized Rare
Inimitable
Which of the following is not a limitation of a competitor analysis? -It may prompt firms to become competitor-obsessed -It may blind a company to new and innovative approaches and technologies that emerge from outside a firm's competitor set -It may result in firm instituting a copy-cay approach to strategy development, in which the strategies of competitors are the sources of new ideas, rather than developing new ideas internally or seeking new ideas from other industries and markets -It contains sensitive internal information that may be used against the focal firm by its closest rivals
It contains sensitive internal information that may be used against the focal firm by its closest rivals
Which of the following is a common criticism of VRIO? -It is highly dependent on a manager's interpretation of external environmental trends -It does not provide a bottom-line score or a unified view with clear recommendations; it is simply a list of metrics -It creates an inwardly looking perspective of strategy -There are few specified relationships between the components of the tool
It creates an inwardly looking perspective of strategy
Which of the following is not a common criticism of SWOT? -SWOT is sometimes criticized for being overly simple and hence masking complexity -It is not very widely used -Interpretation of information generated by a SWOT is likely to vary between different managers and practitioners
It is not very widely used
What insight or value does a VRIO create? -It provides a means for managers and practitioners to focus on a firm's most valuable elements when developing a strategy -It allows mangers to scan the external environment -It is useful tool to understand macro environmental trends -It forces managers into a holistic understanding of their firm
It provides a means for managers and practitioners to focus on a firm's most valuable elements when developing a strategy
What is the purpose of SWOT?
It provides a means to account for internal and external factors plus positive and negative factors confronting a firm, thereby providing a balanced perspective of strategic issues
What is the purpose of a Segmentation Analysis
It provides a means to understand and partition a broad consumer or business market into subgroups of consumers or businesses (called segment), such that a firm can effectively target specific segments rather than the market as a whole.
_________________ is the notion not only that customers display differences in current and past characteristics but also that these differences are predictors of their future behavior. Market heterogeneity Market homogeneity Firm heterogeneity Firm homogeneity
Market heterogeneity
Who initially developed the five forces model? Igo Ansoff Michael Porter Richard Rumlet Hentry Mintzberg
Michael Porter
In a letter to shareholders, Amazon outlines the four goals that will guide the company: customer obsession rather than competitor focus, passion for invention, commitment to operationsl excellence, and long-term thinking. Objectives Assumptions Response Capabilities and Resources
Objectives
Which of the following is not a corporate level issue? Operational Strategies International Strategy Vertical Integration Product Diversification
Operational Strategies
Zappos logistics manager decides to improve efficiency in its supply chain infrastructure - which level is this decision taken at? Competitive Strategy Business Strategy Operational Strategy Corporate Strategy
Operational Strategy
In which value chain activity does the following example best fit? Toyota is well-renowned for its 6 sigma manufacturing process. When doing a value chain analysis for Toyota, where would this 6 sigma example predominately fit? -Outbound logistics -HR Management -Operations -Marketing and sales -Inbound logistics
Operations
Match the example with the SWOT element. If doing a SWOT analysis for Chick-Fil-A, where might you best put the possibility of increased international expansion? Strengths Opportunities Threats Weaknesses
Opportunities
Where does the example fit? Microsoft and Windows had an organizational structure and coordinating mechanisms that allowed them to capture most of the market share and profit pools at the start of the PC era. Rare Organized Inimitable Valuable
Organized
In which value chain activity does the following example best fit? Amazon's ability to deliver millions of orders in less than two days with its prime service would fit best into which of the activities within a value chain analysis? -After sales service -Marketing and Sales -Inbound logistics -HR Management -Outbound logistics
Outbound logistics
Which category of STEEP would: 'A presidential election in the coming year with potential regulatory impacts for your industry' best fit into? Sociocultural Economic Political Ecological
Political
Which category of STEEP would: 'The FTC and the DOJ potentially taking an anti-trust case against the two major firms in the industry' best fit into? Political Economic Ecological Sociocultural Technological
Political
A major distinguishing characteristic of VCA that helps to uncover its theoretical foundation is _____________ that firms can follow to optimize the activities in their value chain. -Porter's formulation of generic strategies -The Ansoff Matrix -Rumelt's levels of diversification -Mintzberg's 5ps of strategy
Porter's formulation of generic strategies
In a Value Chain Analysis, a firm's after-sales service will be referred to as its _____________. Resource flow Static resource Support activity Primary activity
Primary activity
In which value chain activity does the following example best fit? 3M is renowned for its ability to innovate and its R&D capabilities. When carrying out a value chain analysis for 3M, where would this example fit? -R&D -HR Management -Marketing and sales -Procurement -Inbound logistics
R&D
Where does the example fit? Nike has been able to consistently capture and sponsor the best basketball players in the world... the scarcity of these superstar athletes allows Nike to develop a competitive advantage Inimitable Valuable Organized Rare
Rare
If Pepsi lower's the price on its 2-liter bottle of cola, chances are Coke will do the same almost instantaneously. Response Strategy Capabilities and Resources Objectives
Response
The question: "What is the competitor's real (versus claimed) focus?" would be best asked in which of the competitor analysis main sections? -Response -Capabilities and Resources -Strategies -Assumptions
Response
_____________ refers to the extent to which consumers in a defined segment are likely to respond to marketing offers targeted at them. Identifiable Responsive Accessible Actionable Substantial
Responsive
A potential challenge or opportunity may come to the attention of a manager through a variety of different channels - which of the following is not a typical channel? Inside-out channel Top-down channel Bottom-up channel Rhetoric channel
Rhetoric Channel
What Coca-Cola and Pepsi are in the soda production industry? Substitutes Rivals Buyers Suppliers
Rivals
Which of the following statements is most correct? -SWOT analysis is an exclusively external analysis tool -SWOT analysis is the pinnacle of all strategic thinking -SWOT analysis should be the cornerstone of all strategy -SWOT analysis is, in the eyes of the scholarly community, remarkably under-theorized
SWOT analysis is, in the eyes of the scholarly community, remarkably under-theorized
In a segmentation analysis, what does S-T-P refer to? -Segmentation, Positioning, Targeting -Scientifically Treated Petroleum -Solvable, Pertinent, Technical -Stone, Temple, Pilots
Segmentation, Positioning, Targeting
Which category of STEEP would: 'Individuals valuing convenience and time saving more and more' best fit into? Sociocultural Ecological Political Technological
Sociocultural
Lululemon appeals to a narrow demographic on the basis of differentiation. Capabilities and Resources Assumptions Objectives Strategy Response
Strategy
Southwest Airlines is renowned for pursuing an integrated cost leadership/differentiation strategy i.e. simultaneously lowering costs while increasing uniqueness. Strategy Assumptions Response Objectives
Strategy
Match the example with the SWOT element. If doing a SWOT for Disney, where might you best put their current vertical integration strategy (where they own the animation studios, film distribution, theme parks and cruise ships, and their own video on demand service)? Weaknesses Stengths Opportunities Threats
Strengths
What element of SWOT could filter in insights from a VRIO analysis? Strengths STEEP Weaknesses Strengths and Weaknesses
Strengths
_____________ are factors that make a firm more competitive than its rivals. Areas in which a firm has superior resources or capabilities compared to competition. _______________ tend to focus on internal factors that are currently under firm's control. Weaknesses Strengths Opportunities Resources
Strengths
_____________ refers to the extent to which a segment or group of customers represents a sufficient size to be profitable. This could mean sufficiently large in number of people or in purchasing power. Substantial Actionable Responsive Identifiable Accessible
Substantial
A product or service that performs a similar function but lies in another industry. Substitute Complement Supplier Rival
Substitute
What the contact lens industry is to the eyeglass industry? Substitutes Rivals New Entrants Buyers
Substitutes
What the agriculture industry is for the supermarket industry? Rival Buyer New Entrant Supplier
Supplier
Which category of STEEP would: 'The increasing prevalence of artificial intelligence to make sense of large amounts of data' best fit into? Technological Sociocultural Economic Ecological Political
Technological
Within a STEEP analysis, the 'T' prompts users to consider what types of trends and changes? Technology Turbulence Transformational Theological
Technological
Which of the following is not a rationale for effective segmentation analysis to drive competitive advantage and superior performance? -Identify segments of industry demand and unique abilities to serve particular segments -The core belief around understanding value resources that the firm has that can be the source of competitive advantage -Target specific segments of demand that they are able to serve -Develop specific strategies for each target market segment
The core belief around understanding value resources that the firm has that can be the source of competitive advantage
A STEEP analysis is used primarily to assess trends and changes in which of the following? -The external analysis is used in which a firm operates -Within a firm's top management team -The firm's resources and capabilities -Competitor firm
The external analysis is used in which a firm operates
A 5 forces analysis is used primarily by managers and practitioners to assess... -The firm's strengths and capabilities -Their direct competitors -The macro-environment -The major factors impacting an industry's profit potential
The major factors impacting an industry's profit potential
Which of the following is not a classic limitation of a Segmentation Analysis? -It can be difficult to manage the balance between becoming too niche and too broad -Segments are almost never static -The segment has many large firms competing there -For some undifferentiated products, economies of scale and scope may render the mass market to be the most attractive segmet
The segment has many large firms competing there
Which of the following is not one of the five forces? -The threat of network effects in the industry -The negotiating power of suppliers -The level of rivalry between competitors in that industry -The threat of new entrants into the industry
The threat of network effects in the industry
What is the rule of thumb behind Porter's five forces model? -The weaker the five forces, the lower the industry's profit potential-making the industry less attractive -The stronger the five forces, the lower the industry's profit potential-making the industry more attractive -The weaker the five forces, the greater the industry's profit potential-making the industry more attractive -The stronger the five forces, the greater the industry's profit potential making the industry less attractive
The weaker the five forces, the greater the industry's profit potential-making the industry more attractive
In a SWOT analysis what does the 'T' signify? Technology Threat Trajectory Thoughts
Threat
Match the example with the SWOT element. If doing a SWOT for Uber Eats, where might you best put the intense competition between Postmates, Doordash and Grubhub? Threats Strengths Opportunities Weaknesses
Threats
What is the purpose of a competitor analysis? -To provide managers and practitioners with a complete picture of the competitive landscape confronting a firm -To provide managers and practitioners a holistic view of their firm -To provide managers and practitioners with a better understanding of the macro environment -To provide managers and practitioners an understanding into the vertical integration strategies of their competitors
To provide managers and practitioners with a complete picture of the competitive landscape confronting a firm
What is the purpose of a VRIO analysis? -to systematically identify resources and capabilities that may serve as a key source of competitive advantage -to examine a firm's current situation by accounting for a firm's Strengths, Weaknesses, Opportunities, and Threats -To provide the decision maker with an efficient mechanism for reducing uncertainty using an inferential procedure to test the credibility of a potential solution
To systematically identify resources and capabilities that may serve as a key source of competitive advantage
When conducting a STEEP analysis, the factors that come up in one category should be integrated and considered alongside the factors that relate to another category. True/False
True
Where does the example fit? Honda's ability to design & build engines allows them to increase the perceived value of its products. Organized Inimitable Rare Valuable
Valuable
Match the example with the SWOT element. If doing a SWOT analysis for Netflix, where might you best put their over reliance on Amazon Web Services for hosting capabilities? Strengths Weaknesses Opportunities Threats
Weaknesses
Which of the following academics were instrumental in the development of the Resource-Based View (RBV)? -Mintzberg, Christensen, and Porter -Porter and Ansoff -Wernerfelt, Barney, and Rumelt 0Fisher, Wisneski, and Bakker
Wernerfelt, Barney, and Rumelt
Value Chain Analysis (VCA) aids the strategist in mapping and understanding a firm's (potential) sources of competitive advantage by: -identifying the macro trends of the organization -testing top management's assumptions -decomposing the firm into strategically important activities -analyzing industry dynamics
decomposing the firm into strategically important activities
