Question 1

The value chain consists of:

Accepted Answer

The value chain includes primary activities (inbound logistics, operations, outbound logistics, marketing and sales, and service) and support activities (procurement, technology development, human resource management, and infrastructure) that work together to create value.

Question 2

The support activities of the value chain include firm infrastructure, human resource management, technology development and:

Accepted Answer

The answer of The support activities of the value chain...

Question 3

Value chain analysis can be used to:

Accepted Answer

Value chain analysis is a tool used to analyze a company's internal resources and activities to identify areas where value can be added or improved.

Question 4

Rumelt (1991) is of the view that industry is the main driver for differential firm performance.

Accepted Answer

Rumelt (1991) argued that firm-specific factors, rather than industry effects, are the main drivers of differential firm performance.

Question 5

The SWOT analysis can be used to: Please select all that apply.

Accepted Answer

SWOT analysis is used to assess internal strengths and weaknesses, and external opportunities and threats, which helps in formulating strategies. It does not specifically focus on imagining possible futures, which is more aligned with scenario planning.

Question 6

The statistic that there will be a 50% increase in cars by 2030 presents both an opportunity and a threat to an oil company.

Accepted Answer

An increase in cars can lead to higher demand for oil, benefiting the company. However, it also poses a threat as it may accelerate the shift towards alternative energy sources and stricter environmental regulations.

Question 7

Shell oil used the technique of ______________________ to look at a situation and try to see it in different ways by asking challenging questions.

Accepted Answer

The answer of Shell oil used the technique of ______________________...

Question 8

Government regulation will always make an industry less attractive.

Accepted Answer

Government regulation can sometimes make an industry more attractive by ensuring safety, fairness, and stability, which can increase consumer confidence and investment.

Quiz 1: Strategic Management