Question 1

_3._I_n_a_situationa_l_analysis_,_a_strategi_c_grou_p_i_s_a_grou_p_of _tha_t_to_p_manager_s_choos_e_fo_r_comparing, Evaluating, and benchmarking their company's strategic threats and opportunities.

Accepted Answer

Other firms within an industry would provide the most relevant and specific information for evaluating strategic threats and opportunities. Comparing and benchmarking against competitors is a common practice in strategic analysis.

Question 2

The research on diversification in portfolio management indicates that the best approach is probably:

Accepted Answer

Research has shown that related diversification, where a company enters into new businesses that are related to its existing products or markets, is the most effective approach to portfolio diversification. This allows for synergies to be created, such as sharing of resources and knowledge, and can lead to improved performance and reduced risk within the portfolio.

Question 3

Which of the following is a mechanism used to examine external threats and opportunities facing a firm as well as its internal strengths and weaknesses?

Accepted Answer

A situational analysis (also known as SWOT analysis) is the mechanism used to examine external threats and opportunities facing a firm as well as its internal strengths and weaknesses. Organizational scanning refers to the ongoing process of gathering and interpreting information about the external environment. Internal marketing is a process that focuses on communicating the value of the firm's culture and values to its own employees. Shadow-strategy task forces are teams that are created to develop strategic plans. Benchmarking is a process of comparing a firm's performance with that of its competitors.

Question 4

The first step in the strategy-making process is to:

Accepted Answer

The answer of The first step in the strategy-making process...

Question 5

Companies often choose a stability strategy when their external environment doesn't change much, or after they have struggled with periods of explosive growth.

Accepted Answer

When a company's external environment remains stable or when they have difficulty sustaining their growth, they may opt for a stability strategy.

Question 6

The first step in the strategy-making process is to:

Accepted Answer

The answer of The first step in the strategy-making process...

Question 7

Resource similarity and competition with each other.

Accepted Answer

The answer of Resource similarity and competition with each other.
...

Question 8

Which of the following is a condition that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage?

Accepted Answer

For a firm's resources to yield a sustained competitive advantage, they must possess the quality of being imperfectly imitable. This means that the resources are difficult for competitors to replicate or mimic, thus offering a unique strategic advantage. Differentiation refers to the distinct and valuable features of a firm's products/services that set them apart from competition. Diversification is the process of expanding the firm's range of products/services offered. Entrepreneurial orientation refers to the management's attitude towards innovation and risk-taking in the pursuit of new business opportunities. A matrix organizational structure is a type of management structure that focuses on project-based teams with cross-functional expertise. While these factors may contribute to a firm's overall success, they are not necessarily essential for achieving a sustainable competitive advantage through resource utilization.

Question 9

Reactors follow the consistent strategy of anticipating and reacting to potential external opportunities and threats prior to their occurrence.

Accepted Answer

Reactors do not proactively anticipate or react to external opportunities and threats; instead, they tend to respond only after these events occur, often in a less structured or consistent manner.

Question 10

There are four conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage. The resources must be valuable, rare, imperfectly imitable, and nonsubstitutable.

Accepted Answer

This statement is true. The four conditions mentioned (valuable, rare, imperfectly imitable, and nonsubstitutable) are known as the VRIN criteria for sustainable competitive advantage. A firm's resources must meet all four of these conditions in order to achieve a sustainable competitive advantage.

Question 11

According to Michael Porter, five industry forces determine an industry's overall attractiveness and potential for long-term profitability. Which of the following is one of those forces Porter identified?

Accepted Answer

Michael Porter identified the bargaining power of suppliers as one of the five industry forces that determine an industry's overall attractiveness and potential for long-term profitability. The other four forces are the threat of new entrants, the threat of substitute products or services, the bargaining power of buyers, and the intensity of competitive rivalry.

Question 12

An analysis of an organization's external environment begins with an assessment of the company's distinctive competencies and core capabilities.

Accepted Answer

An analysis of an organization's external environment begins with an assessment of factors outside of the company, such as market trends, competition, technological advancements, and regulatory environments. An assessment of the company's distinctive competencies and core capabilities is part of an internal analysis of the organization.

Question 13

An organization implementing a(n) strategy would NOT follow a consistent strategy.

Accepted Answer

A reactor strategy is characterized by a lack of consistency and a tendency to react to external pressures and events rather than proactively pursuing a set strategy. The other choices all involve a more intentional and consistent approach to strategy.

Question 14

_7._The _i_s_a_portfoli_o_strateg_y_tha_t_manager_s_us_e_t_o_categoriz_e_thei_r_corporation'_s_businesse_s_b_y_growth Rate and relative market share. This strategy guides them on how to decide how to invest corporate funds.

Accepted Answer

The BCG matrix (Boston Consulting Group matrix) is a portfolio management matrix that helps companies analyze their investment portfolio based on two factors: market growth rate and relative market share. This matrix is used to determine which business units to invest in and which ones to divest. Therefore, it is the best choice for the given scenario. The other options (A, B, D, and E) do not specifically focus on investment decisions based on market growth rate and relative market share.

Question 15

Significant cost reductions, layoffs of employees, closing of poorly performing stores, offices, or manufacturing plants, or closing or selling entire lines of products or services would be characteristic of a strategy.

Accepted Answer

The described actions suggest a retrenchment strategy, which involves reducing costs and streamlining operations by reducing employees, closing underperforming stores/offices/manufacturing plants, and divesting product lines. This is done to turn around a company's financial situation or position it for better growth in the future. The other options listed - portfolio, stability, firm-level, and rehabilitation - do not necessarily involve the significant cost reductions or closures indicated in the prompt.

Question 16

_5._I_n_an_y_organization_,_the _ar_e_th_e_les_s_visible_,_interna_l_{decision-makin}_g_routines_,_{problem-solving} Processes, and organization cultures that determine how efficiently inputs can be turned into outputs.

Accepted Answer

Core capabilities refer to the unique combination of processes and organization cultures that allow a company to efficiently turn inputs into outputs. This is the closest match to the given statement in the question. The other choices do not directly relate to this concept.

Question 17

_6._I_n_a_situationa_l_analysis_,_a_strategi_c_grou_p_i_s_a_grou_p_of _tha_t_to_p_manager_s_choos_e_fo_r_comparing, Evaluating, and benchmarking their company's strategic threats and opportunities.

Accepted Answer

Benchmarking against other firms within an industry is the best choice for evaluating strategic threats and opportunities as it allows for a comparison of performance and strategies among competitors. Non-industry-specific companies may not provide relevant information, expert managers may not have a deep understanding of the industry, trade journals and periodicals may provide information but not direct comparison, and consulting firms that use the Delphi technique may not provide industry-specific recommendations. Therefore, D is the most appropriate choice.

Question 18

Which of the following is a mechanism used to examine external threats and opportunities facing a firm as well as its internal strengths and weaknesses?

Accepted Answer

A situational analysis is a tool used to examine both the internal and external factors that impact a firm. This includes examining the firm's strengths and weaknesses as well as any external threats or opportunities. Organizational scanning, internal marketing, shadow-strategy task forces, and benchmarking are all tools and techniques that may be used as part of a situational analysis, but they do not encompass the full scope of the analysis itself.

Question 19

_8._I_n_an_y_organization_,_the _ar_e_th_e_les_s_visible_,_interna_l_{decision-makin}_g_routines_,_{problem-solving} Processes, and organization cultures that determine how efficiently inputs can be turned into outputs.

Accepted Answer

Core capabilities refer to the unique resources and strategic strengths that a company possesses, which enable it to outperform its competitors. The description given in the sentence aligns with the definition of core capabilities.

Question 20

_6._Th_e_term _refer_s_t_o_th_e_overal_l_{organizationa}_l_strateg_y_tha_t_addresse_s_th_e_questio_n_"Wha_t_busines_s_or Businesses are we in or should we be in?"

Accepted Answer

The question addresses whether a business should be in certain industries or not, which is a question of corporate-level strategy. This is because corporate-level strategy deals with the overall direction of the entire company, including the industries in which it operates. Firm-level strategy pertains to individual business units within a company, industry-level strategy focuses on the competition within a specific industry, portfolio strategy involves managing a diverse range of business units, and vision refers to a company's long-term aspirations.

Quiz 6: Organizational Strategy

3. In a situational analysis, a strategic group is a group of that top managers choose for comparing, Evaluating, and benchmarking their company's strategic threats and opportunities.

The research on diversification in portfolio management indicates that the best approach is probably:

Which of the following is a mechanism used to examine external threats and opportunities facing a firm as well as its internal strengths and weaknesses?

The first step in the strategy-making process is to:

Companies often choose a stability strategy when their external environment doesn't change much, or after they have struggled with periods of explosive growth.

The first step in the strategy-making process is to:

Resource similarity and competition with each other.

Which of the following is a condition that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage?

Reactors follow the consistent strategy of anticipating and reacting to potential external opportunities and threats prior to their occurrence.

There are four conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage. The resources must be valuable, rare, imperfectly imitable, and nonsubstitutable.

According to Michael Porter, five industry forces determine an industry's overall attractiveness and potential for long-term profitability. Which of the following is one of those forces Porter identified?

An analysis of an organization's external environment begins with an assessment of the company's distinctive competencies and core capabilities.

An organization implementing a(n) strategy would NOT follow a consistent strategy.

7. The is a portfolio strategy that managers use to categorize their corporation's businesses by growth Rate and relative market share. This strategy guides them on how to decide how to invest corporate funds.

Significant cost reductions, layoffs of employees, closing of poorly performing stores, offices, or manufacturing plants, or closing or selling entire lines of products or services would be characteristic of a strategy.

5. In any organization, the are the less visible, internal decision-making routines, problem-solving Processes, and organization cultures that determine how efficiently inputs can be turned into outputs.

6. In a situational analysis, a strategic group is a group of that top managers choose for comparing, Evaluating, and benchmarking their company's strategic threats and opportunities.

Which of the following is a mechanism used to examine external threats and opportunities facing a firm as well as its internal strengths and weaknesses?

8. In any organization, the are the less visible, internal decision-making routines, problem-solving Processes, and organization cultures that determine how efficiently inputs can be turned into outputs.

6. The term refers to the overall organizational strategy that addresses the question "What business or Businesses are we in or should we be in?"

_3._I_n_a_situationa_l_analysis_,_a_strategi_c_grou_p_i_s_a_grou_p_of _tha_t_to_p_manager_s_choos_e_fo_r_comparing, Evaluating, and benchmarking their company's strategic threats and opportunities.

_7._The _i_s_a_portfoli_o_strateg_y_tha_t_manager_s_us_e_t_o_categoriz_e_thei_r_corporation'_s_businesse_s_b_y_growth Rate and relative market share. This strategy guides them on how to decide how to invest corporate funds.

_5._I_n_an_y_organization_,_the _ar_e_th_e_les_s_visible_,_interna_l_{decision-makin}_g_routines_,_{problem-solving} Processes, and organization cultures that determine how efficiently inputs can be turned into outputs.

_6._I_n_a_situationa_l_analysis_,_a_strategi_c_grou_p_i_s_a_grou_p_of _tha_t_to_p_manager_s_choos_e_fo_r_comparing, Evaluating, and benchmarking their company's strategic threats and opportunities.

_8._I_n_an_y_organization_,_the _ar_e_th_e_les_s_visible_,_interna_l_{decision-makin}_g_routines_,_{problem-solving} Processes, and organization cultures that determine how efficiently inputs can be turned into outputs.

_6._Th_e_term _refer_s_t_o_th_e_overal_l_{organizationa}_l_strateg_y_tha_t_addresse_s_th_e_questio_n_"Wha_t_busines_s_or Businesses are we in or should we be in?"