Question 1

_____ strategy is the set of strategic alternatives from which an organization chooses as it operates in a particular industry or market.

Accepted Answer

Business-level strategy is the set of strategic alternatives from which an organization chooses as it conducts business in a particular industry or market. Such alternatives help the organization focus its competitive efforts for each industry or market in a targeted and focused manner.

Question 2

An organization that pursues a(n) _____ strategy seeks to stand out among competitors through the quality (broadly defined) of its products or services.

Accepted Answer

An organization that pursues a differentiation strategy seeks to distinguish itself from competitors through the quality(broadly defined) of its products or services. Firms that successfully implement a differentiation strategy are able to charge more than competitors because customers are willing to pay more to obtain the extra value they perceive.

Question 3

Which of the following questions that companies consider is most closely related to the resource deployment component of a strategy?

Accepted Answer

A strategy should also include an outline of the organization's projected resource deployment-how it will distribute its resources across the areas in which it competes.

Question 4

_____ strategy is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets.

Accepted Answer

Corporate-level strategy is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets.

Question 5

A(n) _____ is an area in an organization's environment that, if exploited, may generate higher performance.

Accepted Answer

Organizational opportunities are areas in an organization that generate higher performance.

Question 6

A(n) _____ is a comprehensive plan for accomplishing an organization's goals.

Accepted Answer

A strategy is a comprehensive plan for accomplishing an organization's goals.

Question 7

_____ include things like a deep pool of managerial talent, surplus capital, a unique reputation and/or brand name.

Accepted Answer

Organizational strengths include things like a deep pool of managerial talent, surplus capital, a unique reputation and/or brand name, and well-established distribution channels.

Question 8

A(n) _____ is an internal skill or capability that does not enable a company to choose and implement strategies that support its mission.

Accepted Answer

Organizational weaknesses are skills and capabilities that do not enable an organization to choose and implement strategies that support its mission. An organization has essentially two ways of addressing weaknesses.

Question 9

Alba Motorbikes is known for its heavyweight motorcycles. The company places emphasis on the quality of the bikes and after-sale service. The brand also enjoys customer loyalty. This scenario described Alba Motorbikes':

Accepted Answer

A distinctive competence is an organizational strength possessed by only a small number of competing firms. It is something the organization does exceptionally well.

Question 10

Which of the following will be considered as an organizational strength in the context of SWOT analysis?

Accepted Answer

Organizational strengths are skills and capabilities that enable an organization to create and implement its strategies. Strengths may include things like a deep pool of managerial talent, surplus capital, a unique reputation and/or brand name.

Question 11

In the context of SWOT analysis, which of the following would be considered as an organization's strength?

Accepted Answer

Organizational strengths are skills and capabilities that enable an organization to create and implement its strategies. Strengths may include things like a deep pool of managerial talent, surplus capital, a unique reputation and/or brand name, and well-established distribution channels.

Question 12

The choices a firm makes as to where and how much to invest reflect issues of _____.

Accepted Answer

The choices a firm makes as to where and how much to invest reflect issues of resource deployment.

Question 13

Zing Inc. is a large fashion brand that manufactures clothing and shoes. The top managers of Zing have decided to use the profits from its clothing outlets to invest in the shoes business. This scenario illustrates the _____ component of a strategy.

Accepted Answer

How an organization distributes its resources across the areas in which it competes is known as resource deployment.

Question 14

Hydraliscious is a juice brand that sells a wide range of fruit juices that only uses organic ingredients, which is its uniqueness when compared with other brands. Even though Hydraliscious juices are highly priced, a lot of customers buy them because of the quality of the juices. Hydraliscious is most likely to be using a(n)_____ strategy.

Accepted Answer

An organization that pursues a differentiation strategy seeks to distinguish itself from competitors through the quality (broadly defined) of its products or services.

Question 15

Which of the following statements is true about the differentiation strategy?

Accepted Answer

An organization that pursues a differentiation strategy seeks to distinguish itself from competitors through the quality (broadly defined) of its products or services. Firms that successfully implement a differentiation strategy are able to charge more than competitors because customers are willing to pay more to obtain the extra value they perceive.

Question 16

The set of processes for determining the strategies that will be used by an organization is known as:

Accepted Answer

Strategy formulation is the set of processes involved in creating or determining an organization's strategies. It focuses on the content of strategies.

Question 17

_____ refers to the methods by which strategies are operationalized or executed within the organization; it focuses on the processes through which strategies are achieved.

Accepted Answer

Strategy implementation is the methods by which strategies are operationalized or executed.

Question 18

_____ is the set of strategic alternatives that helps an organization focus its competitive efforts for each industry or market in a targeted and focused manner.

Accepted Answer

Business-level strategy is the set of strategic alternatives from which an organization chooses as it conducts business in a particular industry or market. Such alternatives help the organization focus its competitive efforts for each industry or market in a targeted and focused manner.

Question 19

The starting point in formulating strategies is usually:

Accepted Answer

The starting point in formulating strategy is usually SWOT (strengths, weaknesses, opportunities, and threats) analysis. SWOT analysis is a careful evaluation of an organization's internal strengths and weaknesses as well as its environmental opportunities and threats.

Question 20

Which of the following is an organizational strength?

Accepted Answer

Strengths may include things like a deep pool of managerial talent, surplus capital, a unique reputation and/or brand name, and well-established distribution channels.

Quiz 3: Planning and Strategic Management

_____ strategy is the set of strategic alternatives from which an organization chooses as it operates in a particular industry or market.

An organization that pursues a(n) _____ strategy seeks to stand out among competitors through the quality (broadly defined) of its products or services.

Which of the following questions that companies consider is most closely related to the resource deployment component of a strategy?

_____ strategy is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets.

A(n) _____ is an area in an organization's environment that, if exploited, may generate higher performance.

A(n) _____ is a comprehensive plan for accomplishing an organization's goals.

_____ include things like a deep pool of managerial talent, surplus capital, a unique reputation and/or brand name.

A(n) _____ is an internal skill or capability that does not enable a company to choose and implement strategies that support its mission.

Alba Motorbikes is known for its heavyweight motorcycles. The company places emphasis on the quality of the bikes and after-sale service. The brand also enjoys customer loyalty. This scenario described Alba Motorbikes':

Which of the following will be considered as an organizational strength in the context of SWOT analysis?

In the context of SWOT analysis, which of the following would be considered as an organization's strength?

The choices a firm makes as to where and how much to invest reflect issues of _____.

Zing Inc. is a large fashion brand that manufactures clothing and shoes. The top managers of Zing have decided to use the profits from its clothing outlets to invest in the shoes business. This scenario illustrates the _____ component of a strategy.

Which of the following statements is true about the differentiation strategy?

The set of processes for determining the strategies that will be used by an organization is known as:

_____ refers to the methods by which strategies are operationalized or executed within the organization; it focuses on the processes through which strategies are achieved.

_____ is the set of strategic alternatives that helps an organization focus its competitive efforts for each industry or market in a targeted and focused manner.

The starting point in formulating strategies is usually:

Which of the following is an organizational strength?