Question 1

Levitt (1983) argues that a major driving force for convergence between nations is ___________________.

Accepted Answer

Technology

Question 2

A corporate parent is adding a layer of cost to the businesses in its portfolio. In order to compensate for this cost, the corporate parent must be able to offer _______________________.

Accepted Answer

Parenting advantage

Question 3

Goold et al suggest using the parenting fix matrix to assess whether there is a good fit between the corporate parent and its businesses. To place a business on the matrix, two questions are asked. These are to what extent does the corporate parent understand the industry, and:

Accepted Answer

The second question in the parenting fit matrix is about the extent to which the corporate parent can add value to the business.

Question 4

Business level strategy is concerned with _________________ strategy.

Accepted Answer

The answer of Business level strategy is concerned with _________________...

Question 5

Threat of entry and imitation are likely to be highest at the ______________ stage of the industry life-cycle.

Accepted Answer

The answer of Threat of entry and imitation are likely...

Question 6

The wealth added index was created by a consultancy firm to measure the wealth created by firms for:

Accepted Answer

The answer of The wealth added index was created by...

Question 7

The view that organizations' strategies are determined by the interests and beliefs of dominant coalitions is expressed in which academic area

Accepted Answer

Stakeholder theory suggests that organizations' strategies are influenced by the interests and beliefs of various groups or coalitions that have a stake in the organization, including dominant coalitions.

Question 8

Mendelow (1991) has developed a model to assist in prioritizing stakeholders. The stakeholders are mapped using two variables, power and ______________.

Accepted Answer

The answer of Mendelow (1991) has developed a model to...

Question 9

Sternberg (1997) argues that trying to balance stakeholders' needs does not work.

Accepted Answer

Sternberg (1997) critiques the stakeholder theory, arguing that attempting to balance the needs of all stakeholders is impractical and can lead to conflicts and inefficiencies.

Question 10

-The Rhine model of corporate governance awards high priority to shareholder needs relative to other models from around the world.

Accepted Answer

The Rhine model of corporate governance, also known as the stakeholder model, prioritizes the interests of a broader range of stakeholders, including employees, customers, and the community, rather than focusing primarily on shareholder needs.

Question 11

Traditional financial measures used by firms tend to emphasize: Please select all that apply.

Accepted Answer

Traditional financial measures often focus on past performance and short-term performance, as they rely on historical data and quarterly or annual results.

Question 12

The use of performance measures acts as a control on management to ensure that they fulfil their _______________ duty to shareholders.

Accepted Answer

The answer of The use of performance measures acts as...

Question 13

Stakeholder mapping should be done in connection with a particular strategic proposal.

Accepted Answer

Stakeholder mapping is used to identify and analyze the interests and influence of stakeholders related to a specific strategic proposal, ensuring their needs and concerns are addressed.

Question 14

The overriding concern for quoted companies in the USA and UK is for the interests of multiple stakeholders.

Accepted Answer

In the USA and UK, the primary concern for quoted companies is typically the interests of shareholders, focusing on maximizing shareholder value.

Question 15

The balanced scorecard is rated as below average in terms of how organizations view the framework.

Accepted Answer

The question states that the balanced scorecard is rated as below average, which means that organizations do not view the framework favorably.

Question 16

Benchmarking is a continuous process of measuring products, services and business practices against:

Accepted Answer

Benchmarking involves comparing one's business processes and performance metrics to industry bests and best practices from other industries, not just within the same industry.

Question 17

The balanced scorecard approach requires that organizations start to measure things that they may have ____________________.

Accepted Answer

The answer of The balanced scorecard approach requires that organizations...

Question 18

The balanced scorecard approach is only appropriate for the private sector.

Accepted Answer

The balanced scorecard approach can be applied to both private and public sectors as it helps organizations align their activities with their vision and strategy, regardless of the sector.

Question 19

The resource-based view of the firm has which of the following points of view?

Accepted Answer

The resource-based view (RBV) suggests that competitive advantage comes from the unique resources and capabilities within the organization.

Question 20

For a distinctive capability to be ______________________ it needs to benefit primarily the organization which holds it rather than its employees, its customers or its competitors.

Accepted Answer

The answer of For a distinctive capability to be ______________________...

Quiz 1: Strategic Management