Question 1

Popular strategic management tools such as the SWOT analysis can only help to structure thoughts.

Accepted Answer

SWOT analysis is a tool that helps to identify and analyze the strengths, weaknesses, opportunities, and threats of a business. It can help to structure thoughts and ideas, but it does not provide solutions or make decisions.

Question 2

Distinguish between strategy content, strategy process and strategy context.

Accepted Answer

As defined by De Wit and Meyer (1999) strategy context is the 'where' of strategy i.e. the backdrop or setting for a strategy which includes the internal organizational context and the external context. Strategy content is the 'what' of strategy i.e. what are the long term goals and what strategy can fulfill these goals. Strategy process is the 'how' of strategy i.e. the decision making process and how the strategy comes about.

Question 3

Construct a hypothetical vision statement, mission statement and values statement for eBay.

Accepted Answer

For example;
Vision statement: "We will be the most well-known brand on the planet"
Mission statement: "We are what you want us to be"
Values statement: "The 'ebayer' is our most important resource and will continue to be"

Question 4

Why might a realized strategy be different from an intended strategy?

Accepted Answer

The answer of Why might a realized strategy be different...

Question 5

Describe the characteristics of a fragmented organization in Michaud and Thoenig's (2003) typology.

Accepted Answer

The answer of Describe the characteristics of a fragmented organization...

Question 6

What are the advantages of conducting strategic decision making in a planned fashion?

Accepted Answer

The answer of What are the advantages of conducting strategic...

Question 7

Which of the following statements most closely describes the scope of the business?
A) We design customized I.T solutions by combining the talents of a globally dispersed knowledge base. using cutting edge technology
B) We will grow the business to every continent by building on our talent to achieve above average profits
C) Our IT solutions provide global distribution companies with customized systems
D) We are in the business of providing IT solutions to global distribution companies

Accepted Answer

Statement D clearly defines the business's scope by specifying the industry (IT solutions) and the target market (global distribution companies).

Question 8

Generally there are three distinct levels of strategy. These are
A) Small business, large business, global business
B) Single business, multi-business and multi-national.
C) Independent business, portfolio business and public sector organization
D) Single business, portfolio business and global business

Accepted Answer

Single business, multi-business and multi-national are the three distinct levels of strategy.

Question 9

It is argued that the biggest dilemma facing multi-national organizations is
A) The extent of home country control or local control
B) The extent of global coverage or market penetration
C) The extent of global integration or national responsiveness
D) The extent of product diversity or market diversity

Accepted Answer

The biggest dilemma for multinational organizations is balancing global integration with national responsiveness, as they need to standardize operations for efficiency while also adapting to local markets to meet specific needs and preferences.

Question 10

The business model can also be defined as the _________________ of the business

Accepted Answer

The answer of The business model can also be defined...

Question 11

There is a correlation between a good mission statement and organizational performance.

Accepted Answer

The answer of There is a correlation between a good...

Question 12

A strategic review is likely to be most effective when it breaks down the business into its component parts and looks at the strengths and weaknesses of each individual component.

Accepted Answer

The answer of A strategic review is likely to be...

Question 13

The evolutionary view of strategic management argues that
A) Organizational survival is governed by strategic managers' decisions
B) Deliberate strategies are a delusion
C) Organizations are subject to environmental determinism
D) Strategy is the outcome of micro-politics within the organization

Accepted Answer

The answer of The evolutionary view of strategic management argues...

Question 14

Which of the following statements describe the Balanced Scorecard system of Kaplan and Norton?
A) It is designed to measure organizational performance from a number of perspectives
B) It goes beyond measuring strategy on financial performance
C) It helps to determine whether strategic objectives are being met
D) It prioritizes shareholder satisfaction

Accepted Answer

The Balanced Scorecard system measures organizational performance from multiple perspectives, not just financial. It helps assess if strategic objectives are being met, but it does not prioritize shareholder satisfaction specifically.

Question 15

If two organizations use the same strategy models and they are in the same industry they are likely to come up with the same answers

Accepted Answer

Even with the same strategy models, different organizations may interpret data differently, have varying resources, capabilities, and cultures, leading to different outcomes.

Question 16

Porter's Five Forces model takes a systems perspective on competition

Accepted Answer

The answer of Porter's Five Forces model takes a systems...

Question 17

The strategic planning process can often include a discussion of future scenarios. Which of the following statements most closely describes the activity of scenario building?
A) Conducting a PEST analysis to generate opportunities and threats
B) Constructing a SWOT analysis to generate strategic options for the future
C) Constructing pictures of possible futures often deriving from a PEST analysis
D) Developing simulations to test market behaviour

Accepted Answer

Scenario building involves creating detailed and plausible views of different possible futures, often using insights from analyses like PEST to understand external factors.

Question 18

The success of strategy implementation is very much dependent on
A) Financial resources
B) Linkages
C) Human resources
D) Top management control

Accepted Answer

The answer of The success of strategy implementation is very...

Question 19

The way in which strategic managers interpret their internal and external environment draws on ideas from which academic field?
A) Cognitive science
B) Evolutionary theory
C) Politics
D) Chaos theory

Accepted Answer

Strategic managers often use cognitive science to understand how they perceive and interpret information from their internal and external environments, as it involves the study of mental processes such as perception, memory, and decision-making.

Question 20

Senge has written widely about the role of _____________ in organizations.

Accepted Answer

The answer of Senge has written widely about the role...

Quiz 2: Systems Model and Strategy Map

Popular strategic management tools such as the SWOT analysis can only help to structure thoughts.

Distinguish between strategy content, strategy process and strategy context.

Construct a hypothetical vision statement, mission statement and values statement for eBay.

Why might a realized strategy be different from an intended strategy?

Describe the characteristics of a fragmented organization in Michaud and Thoenig's (2003) typology.

What are the advantages of conducting strategic decision making in a planned fashion?

Which of the following statements most closely describes the scope of the business?

Generally there are three distinct levels of strategy. These are

It is argued that the biggest dilemma facing multi-national organizations is

The business model can also be defined as the _________________ of the business

There is a correlation between a good mission statement and organizational performance.

A strategic review is likely to be most effective when it breaks down the business into its component parts and looks at the strengths and weaknesses of each individual component.

The evolutionary view of strategic management argues that

Which of the following statements describe the Balanced Scorecard system of Kaplan and Norton?

If two organizations use the same strategy models and they are in the same industry they are likely to come up with the same answers

Porter's Five Forces model takes a systems perspective on competition

The strategic planning process can often include a discussion of future scenarios. Which of the following statements most closely describes the activity of scenario building?

The success of strategy implementation is very much dependent on

The way in which strategic managers interpret their internal and external environment draws on ideas from which academic field?

Senge has written widely about the role of _____________ in organizations.