What is an emergent strategy?
A. One with clear objectives leading to a clear strategy
B. One with no specific objectives, that is fully flexible, using opportunism to seize the main chance at the right moment
C. One with a formal approach to adaptive strategy creation, so that in a turbulent environment objectives and strategies can be adjusted
D. One that has a clear mission and directional objectives but that also recognizes the need for flexibility
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What must the strategic visionary leader avoid in order to ensure the prolonged success of a strategy?
A. Becoming blinkered by the success of one strategy to the detriment of others
B. Depending too heavily on colleagues
C. Becoming too ambitious
D. Being adaptable
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Explosive growth cannot be maintained indefinitely. Sooner or later, the rate of growth slow and the industry enters the
A. Embroynic stage
B. Growth stage
C. Shakeout stage
D. Maturity stage
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The five forces model developed by ________ has been the most commonly used analytical tool for examining competitive environment
A. Michnal E Porter
B. Lewis Charter
C. Barrywell
D. Schwiz
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What is an incremental strategy?
A. One that is formalized from the beginning and adhered to along the way exactly
B. One that evolves according to past experiences and changing circumstances
C. One that is formalized, but is slightly flexible if necessary
D. One that has the potential to open up new opportunities along the way which can be incorporated into the long term strategy
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Name one of the strategic pressures that could weaken an unprepared organization?
A. Exploitation of opportunities
B. Lax controls that indulge flexibility
C. Adaptation along the strategic path
D. Too many controls at the expense of flexibility
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The first of Porters Five Forces model is the
A. Intensity of rivalry among industry competitors
B. Threats of new entrants
C. Bargaining power of suppliers
D. Bargaining power of buyers
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__________ refers to the ability of buyers to bargain down prices charged by firms in the industry or driving up the costs of the firm by demanding better product quality and service
A. Bargaining power of suppliers
B. Threats of new entrants
C. Bargaining power of buyers
D. Threat of substitute products
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In military analogy, what is the outcome if in strategy creation the organization has both capability and intent?
A. Capacity
B. Credibility
C. Emergent strategy
D. Intended strategy
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What is the key variable in executing visionary strategy creation at the competitive strategy level?
A. Seizing the opportunities presented
B. Formalized planning
C. Innovation
D. Learning
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__________ are the resources, skills or other advantages a firm enjoys relative to its competitors
A. Weakness
B. Strength
C. Threat
D. Opportunities
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If unprepared, what strategic pressures are recognized as key factors that can weaken the organization?
A. Competitive and environmental pressures
B. Control at the expense of flexibility
C. Lack of planners
D. Competitive and environmental pressures, and excessive control
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A _________ is a limitation or deficiency in resources, skills and capabilities that seriously impede effective performance
A. Strength
B. Threat
C. Opportunities
D. Weakness
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Robert Kalpan and David developed the balanced score card in the early _____ as a performance measurement system
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What is said to be the key factor in maintaining organizational growth (e.g., Hurst 1995)?
A. Entrepreneurial vision
B. Planning
C. Innovation
D. Flexibility
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______________ are defined as resources, skills and attributes of an organization that are essential to deliver success in the market place
A. Balanced score card
B. Industrial analysis
C. Core competencies
D. Critical success factors
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Which of the following is the best reason for why strategic planning is still important today?
A. Without a formal strategic plan a company cannot expect to compete effectively
B. Without a strategic plan an organization can drift without purpose or definition
C. Without it, companies would exist without cause or co-ordination
D. Because of slower economic growth, globalization and technological change
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________ is a widely used framework to summarize a company's situation or current position
A. SWOT analysis
B. TOWS matrix
C. Ansoff's matrix
D. BCG matrix
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What is top-down planning?
A. This takes place in someone's head, and the decisions may not be written down in any extensive form It is often practiced by entrepreneurial managers with real flair
B. This requires managers to spend time discussing the future opportunities and threats and areas in which the organization might develop
C. This involves managers throughout the organization, and ensures that everyone involved in implementing plans will be consulted
D. This relates to decisions taken at the higher parts of the organization and passed onto other managers for implementation These managers will have had little or no input into the planning process
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Which of the following is true for small businesses in relation to strategic planning?
A. It belongs in all organizations
B. It is too expensive
C. It only belongs in large organizations
D. The benefits are too long term
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