Deck 1: Strategy Development and the Strategic Mindset

Question 1

The classic article "The Fall and Rise of Strategic Planning" was written by?

A) Porter
B) Mintzberg
C) Hamel
D) Henderson

Answer 1

B

Question 2

"Upsetting the equilibrium" and re-establishing equilibrium on a more favorable basis, from a strategy point of view, means what?

A) Changing an organizations vision
B) Designing a new organization structure
C) Modify Return on Investment targets based on changing market conditions
D) Competing differently and adding new services

Answer 2

D

Question 3

Setting the strategy is a core underlying job of the

A) Board of directors
B) Chief Strategy Officer
C) Chief Administrator
D) None of the above

Answer 3

A

Question 4

A good strategy must involve

A) Discount pricing
B) A mission statement
C) A unique competitive advantage
D) High return on investment

Question 5

Tracy and Wiersema suggest that organizations must pick one of three different strategies in order to be successful. Which one is not one of those strategies?

A) Customer intimacy
B) Organizational design
C) Product leadership
D) Operational excellence

Question 6

A product attribute that an organization is known for is called:

A) Competitive advantage
B) A service feature
C) A product benefit
D) Unique selling proposition

Question 7

According to data provided by the authors, when patients decide to change doctors, the percentage that change physicians because of quality/incompetence issues is

A) 25% or less
B) 40-50%
C) 60-80%
D) More than 80%

Question 8

A "Fall on your sword" mindset is a reference to:

A) Hanging on to outdated products or services to long
B) Not being willing to change tactics soon enough
C) Being willing to enforce stated standards of practice
D) Changing organizational strategies too quickly

Question 9

Which one of the following is most likely to generate a successful strategy

A) A unique competitive advantage
B) Multiple facilities
C) A strategic plan
D) A long history in the community

Question 10

The key to business success is:

A) Execution of the strategy itself
B) The strategy and execution
C) High market share and profitability
D) A strong vision and mission

Question 11

In the text, phrases like "competitive advantage" and "upsetting the equilibrium" and "creating a difference" are used. All of these terms share a common thread. What is that thread and how does it apply in the health care arena?

Question 12

An important mindset that should be considered is called "Force and Focus." Explain what this topic is about and why it is relevant to health care market strategy.

Question 13

Explain the concept of 'driving force.' Include a discussion of the three options available for an effective driving force.