Question 1

Current reported financial performance may simply lull the organisation into a false sense of security.

Accepted Answer

This statement indicates that there is a possibility that the current reported financial performance may not be an accurate representation of the organization's financial health and may lead to a false sense of security. Therefore, option A is correct.

Question 2

Adding product features is an example of seeking growth in existing product markets.

Accepted Answer

The answer of Adding product features is an example of...

Question 3

Describe how to build a well-defined business model.

Accepted Answer

The answer of Describe how to build a well-defined business...

Question 4

'Porter's three "generic" strategies oversimplify the strategic choices available to organisations.' Comment.

Accepted Answer

The answer of 'Porter's three "generic" strategies oversimplify the strategic...

Question 5

In order to adopt 'premium pricing' strategy,it is important not to view organisational products and services as 'commodities'.

Accepted Answer

Premium pricing strategy involves pricing products and services higher than competitors to signal higher quality and exclusivity. This can only be successful if the products and services are not viewed as commodities, which are standardized and interchangeable products that are largely price-driven. Instead, premium-priced products and services must offer distinctive features, benefits, and value that appeal to a specific target market willing to pay a premium price.

Question 6

For central agencies and network managers,'growth' is unlikely to be a relevant strategic question.

Accepted Answer

Central agencies and network managers are responsible for managing and maintaining the infrastructure and operations of an organization. Growth is typically not a relevant strategic question for them because their focus is on ensuring the smooth functioning of the organization's systems and processes.

Question 7

Describe how different key issues regarding stakeholder involvement for public sector strategy setting impact implementation outcomes.

Accepted Answer

The answer of Describe how different key issues regarding stakeholder...

Question 8

Who are the key stakeholders of not-for-profit (NFP)organisations?

Accepted Answer

The answer of Who are the key stakeholders of not-for-profit...

Question 9

Firms with well-defined business models allow them to make strategic choices concerning different parts of their operations that will support and reinforce each other - thus leading to competitive advantages.

Accepted Answer

A clearly defined business model helps firms to make strategic choices that align their operations and support each other, strengthening the firm's competitive advantage.

Question 10

What may well be the real 'growth' issue in public sector organisations?

Accepted Answer

The answer of What may well be the real 'growth'...

Question 11

The 5Qs approach and the notion of business models can be readily applied to not-for-profit (NFP)organisations.

Accepted Answer

The 5Qs approach and the notion of business models are not limited to for-profit organizations and can be used to evaluate and improve the effectiveness of not-for-profit organizations as well. In fact, many NFPs use business model innovation to create new revenue streams and generate sustainable funding for their operations.

Question 12

Explain the concept of reconceptualising how the firm creates value with respect to their customers by innovation from outside volunteers and present an example.

Accepted Answer

The answer of Explain the concept of reconceptualising how the...

Question 13

Hart argued that there are three possible green sustainability strategies: pollution prevention,product stewardship and sustainable development.

Accepted Answer

Hart categorizes green sustainability strategies into three options: pollution prevention, product stewardship, and sustainable development.

Question 14

'Not to grow' is an inappropriate organisational desire.

Accepted Answer

Organizational growth is generally considered a fundamental goal for sustainability and success, making a desire 'not to grow' typically inappropriate for long-term viability.

Question 15

Of the choice between new product(s)into existing market(s)and existing product(s)into new market(s),which is riskier and why?

Accepted Answer

The answer of Of the choice between new product(s)into existing...

Question 16

The 'focus strategy' is most relevant to small organisations.

Accepted Answer

The focus strategy aims to target a specific niche or segment of the market, instead of trying to compete as a larger or more general organisation. This approach can be particularly effective for smaller organisations that have limited resources and a specialised product or service offering. Larger organisations may find it more difficult to successfully implement a focus strategy, as they may have broader product/service offerings and multiple customer segments to satisfy.

Question 17

'Gap analysis is useless because it only identifies yesterday's "gaps" and tells us nothing about where tomorrow's "gaps" will occur.' Is this a fair criticism? Provide reasons.

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The answer of 'Gap analysis is useless because it only...

Question 18

The capability versus competitive strength exercise is often based on an assessment of the future position.

Accepted Answer

The answer of The capability versus competitive strength exercise is...

Question 19

An important aspect of assessing the performance of the business strategy is to formally identify the expectations from the shareholders.

Accepted Answer

The answer of An important aspect of assessing the performance...

Question 20

Kim and Mauborgne developed the idea of 'blue sky strategy' - finding or creating marketplaces where there are many competitors with similar strategies.

Accepted Answer

Kim and Mauborgne developed the concept of 'Blue Ocean Strategy,' which is about creating uncontested market space and making the competition irrelevant, not about finding or creating marketplaces with many competitors.

Quiz 6: GAP Analysis and Business-Level Strategic Options