Strategic Management Quiz WiSe 2023/24

What is the primary focus of the market-based view of strategy?

• Analyzing internal resources and capabilities

• Emphasizing opportunities within the organization

• Examining external macro- and mirco environment

• Developing strategies based on internal characteristics

Which framework helps analyzing the external macro-and micro environment in the context of the market-based view of strategy?

• SWOT analysis

• P-E-E-S-T framework

• VRIO framework

• Value Chain

Considering the P-E-E-S-T framework, which of the following is true?

• Many of the factors are related to each other

• It is used to analyzing the competitive landscape

• It is a tool to analyze specific aspects of an economy in detail

• None of the above

According to the resource-based view of strategy, what can explain why firms in the same industry and environment perform differently?

• External opportunities

• Identical resources and capabilities

• Differences in strengths and weaknesses

• Lack of competitive advantage

A hardware company regularly orders highly personalized products from suppliers.

This means that...

• the hardware company has a high bargaining power

• the suppliers have a high bargaining power

• both, the suppliers and the hardware company, have low bargaining.

• None of the above

According to the VRIO framework, what defines resources and capabilities as valuable?

• Their ability to create a cost advantage for the firm

• Their uniqueness in the industry

• Their creation of value for customers and responsiveness to

• Their low perveiced value from the customer's point of view

Considering the SWOT analysis, what best fits the following:

A German fast food company identified unmet demand for vegan sandwiches in the market.

• Strengths

• Weaknesses

• Opportunities

• Threats

Which common risk/ limitation is the SWOT analysis associated with?

• It does not prioritize the identified trends

• It organizes large amounts of data about a firm

• The analysis only focusses on firm's characteristics

• None of the above

According to Hambrick and Fredrickson (2005), what is the main challenge associated with the term "strategy" in the business context?

• Lack of executive communication skills

• Overemphasis on branding strategies

• Strategic fragmentation and conflicting definitions

• Insufficient focus on joint venture strategies

Which of the following is one of the six questions that Hambrick and Fredrickson (2005) suggest to test the quality of the strategy?

• Will your envisioned differentiators be profitable?

• Will your envisioned differentiators be sustainable?

• Will your envisioned differentiators be cost efficient?

• None of the above