REVIEW FOR ORG MIDTERM

What is the primary purpose of strategic management in an organization?

• To manage day-to-day operations
• To coordinate means by which an organization achieves its goals and objectives
• To handle human resource issues
• To focus solely on financial planning

Which of the following best describes the relationship between strategy formulation and the P-O-L-C framework?

• Strategy formulation is separate from the P-O-L-C framework
• Strategy formulation is part of the leading component
• Strategy formulation is primarily part of the planning component
• Strategy formulation is only relevant to the controlling component

According to Henry Mintzberg, what percentage of intended strategy is typically realized?

• 50-70%
• 80-100%
• 10-30%
• 0-5%

Which of the following is NOT one of the four aspects of strategy discussed by Mintzberg and his colleagues?

• Intended strategy
• Deliberate strategy
• Realized strategy
• Hypothetical strategy

What is the primary characteristic of emergent strategy?

• It is strictly planned by top management
• It results from complex processes and individual manager interpretations
• It is always in line with the intended strategy
• It is developed solely by the board of directors

Which of the following best describes strategic focus?

• A broad approach to all possible markets
• Clarity in mission, vision, and strategy for achieving them
• Constant change in organizational direction
• Focus solely on cost reduction

According to Porter, what are the two main dimensions of competitive advantage?

• Market share and profitability
• Innovation and sustainability
• Overall lower cost and differentiation
• Customer service and product quality

What does Porter mean by "competitive scope"?

• The number of competitors in the industry
• The breadth of a company's target market
• The geographical reach of a company
• The range of products offered by a company

Which of the following is an example of a company pursuing a focus strategy?

• Walmart targeting all consumer segments
• Apple producing a wide range of electronic devices
• Martin-Brower serving only leading fast-food chains
• Amazon selling products in multiple categories

What are core competencies?

• Basic skills required for entry-level positions
• Resources and capabilities that provide unique competitive advantages
• Standardized procedures followed by all employees
• Financial metrics used to evaluate company performance