Deck 4: Step 1: Conducting the Internalexternal Assessment

Question 1

According to Peters and Waterman, successful business strategy should be designed around

A) mission and vision
B) vision and critical success factors
C) ROI and mission
D) environment and consumer

Answer 1

D

Question 2

Health care organizations create unique challenges when it comes to developing an effective internal assessment. Which element is characterizes its uniqueness:

A) It is an environment that services individuals
B) Physicians are the "voice" of the organization
C) Consumption is based on reimbursement for services delivered
D) All of these are factors

Answer 2

B

Question 3

When an organization exists in a situation where there is uncertainty relative to the ability to predict or costly outcomes have occurred in the past, a useful planning approach is:

A) SWOT Analysis
B) Porter model for analysis
C) Reliability/Risk analysis
D) Scenario Planning

Answer 3

D

Question 4

In developing scenarios, it has been suggested that companies search for "predetermined outcomes", which of the following is not one of the areas of such an outcome?

A) Demographic trends
B) Economic action
C) Reversal of unsustained trends
D) All are outcomes

Question 5

A SWOT analysis is:

A) It is factual
B) It is prevalent in industry
C) It usually involves all major constituencies
D) It is analytically based

Question 6

The difference between the Five Force model and the SWOT analysis is:

A) The Five Force model is a more explicit consideration of the factors affecting
Competition
B) SWOT analysis is more rigorous
C) SWOT takes more effort and time
D) Five Force often does not apply to health care

Question 7

Which is not one of the "five forces" in the Porter model?

A) Power of the buyer
B) Power of the supplier
C) Intensity of the intermediary
D) All are forces

Question 8

Attempting to achieve performance in uncontested market space is the objective of which planning model?

A) Scenario Planning
B) SWOT Analysis
C) Blue Ocean
D) Five Forces

Question 9

In the red ocean there are companies fighting for ________, while in the blue ocean there is ___________.

A) untapped market potential, significant cost
B) significant cost, high revenue opportunity
C) blood of companies, unknown markets
D) Blood of companies, uncontested market space

Question 10

Assume you are a cardiovascular center, wishing to gather patients from a five state region. Which group would be considered your market

A) Physicians on your staff
B) Physicians in a five state area
C) Consumers in a five state area
D) Hospital administrators in a five state area
E) All of the Above

Question 11

When considering market research the first step is to

A) look at primary data
B) study prior market research studies
C) conduct a focus group
D) review recent secondary data
E) None of the above

Question 12

When using secondary data, which of the following questions must always be asked:

A) How timely is the information?
B) How representative is the sample compared to the U.S. population?
C) Can you identify the inherent boas in the sample?
D) All of these are essential questions in using secondary data

Question 13

Which of the following statements is true

A) market research can't provide market share
B) market research can provide information on customer satisfaction
C) mail survey methods are the most preferred
D) 1:1 interviews is the best way to do market research

Question 14

When everyone has an equal chance of being selected into a sample that sampling method is a ______ sample:

A) judgment
B) quota
C) equality
D) random

Question 15

A great advantage of the personal interview is:

A) cost
B) lack of anonymity
C) flexibility
D) structure

Question 16

The most limited survey methodology in terms of being flexible based on how a respondent answers a question is:

A) Personal interviews
B) Telephone interviews
C) Mail surveys
D) Focus groups

Question 17

The order of market research should likely be

A) secondary, focus group, detailed primary
B) detailed primary, secondary, focus group
C) focus group, detailed primary, secondary
D) focus group and detailed primary

Question 18

Most not-for-profit boards are pleased that compared to for-profit organizations that they have a good representation of diversity.

Question 19

When an organization is in a rather steady state situation with little change, this is the ideal condition for using scenario planning.

Question 20

Scheduled events are one of the "predetermined outcomes in scenario planning.

Question 21

While SWOT is an often-used planning tool, it is not highly regarded but done because of its simplicity.

Question 22

A SWOT analysis does not provide data but rather opinion.

Question 23

In the Porter Five Force Model, Amazon and Berkshire Hathaway would best represent the threat of a new entrant.

Question 24

In a Blue Ocean strategy, targeting the Blue Ocean is an attempt to steal market share of major competitors.

Question 25

Wal-mart and eBay's large number of competitors have a barrier to entry built by the large number of customers that they have attracted.

Question 26

Identified markets can be both internal and external

Question 27

Data that is collected by an organization for a specific question or purpose is referred to as secondary data.

Question 28

Secondary data must be evaluated for validity and relevance.

Question 29

When there is a highly sensitive health topic in which research data is to be collected, a personal interview is a good methodology.

Question 30

If only five pieces if data were available of the planning process, what would they be?

Question 31

Are physicians practicing at a hospital considered internal or external data?

Question 32

What are the key differences between a SWOT, Five Forces Analysis, and the Blue Earth perspectives?

Question 33

Should Board members who do not participate in conversations around strategy be replaced?

Question 34

From a market research perspective, how has the internet affected data gathering from the market in the last five years?

Question 35

Do social media sites like Facebook provide any value in the planning process for a medical clinic? In what way can it be utilized?

Question 36

Why is market share a critical data point?