Business Strategy Quiz

A formal program of gathering information on a company's competitors is referred to as?

• Competitive strategy

• Statistical modeling

• Competitive intelligence.

• Quantitative forecasting

The theory that proposes organizations can and do adapt to changing conditions by imitating other successful organizations is known as?

• Institution theory

• Strategic theory

• Citizenship theory

• Population ecology

Knowledge that can be easily articulated and communicated is known as?

• Imitable knowledge.

• Transferable knowledge.

• Tacit knowledge.

• Explicit knowledge.

It is normal for a company's strategy to end up being?

• Like the strategies of other industry members since all companies are confronting much the same market conditions and competitive pressures.

• A blend of deliberate planned actions to improve the company's competitiveness and financial performance and as-needed unplanned reactions to unanticipated developments and fresh market conditions

• Left unchanged from management's original planned set of actions and business approaches since making on-the-spot changes is too risky.

• A combination of defensive moves to protect the company's market share and offensive initiatives to set the company's product offering apart from rivals.

According to Barney's VRIO framework, the firm's exploitation of a competency pertains to?

• Value

• Imitability

• Rareness

• Organization

________ is more valuable because it can provide companies with a sustainable competitive advantage that is harder for competitors to imitate?

• Explicit knowledge

• Tacit knowledge

• Imitable knowledge

• Transferable knowledge

Match the 'market trend' with its example?

• Changes in social behavior such as online networking

• Changes in the world economy

• Such as the increased use of social media by certain customers

• Such as interest rate changes

Which type of international industry manufactures and sells the same products with only minor adjustments made for individual countries around the world?

• Multi-domestic industry

• Indigenous industry

• Global industry

• Consortium industry

Knowledge that is not easily communicated because it is deeply rooted in employee experience or in a corporation's culture is called?

• Explicit knowledge

• Transferable knowledge

• Tacit knowledge

• Imitable knowledge

The competitive moves and business approaches a company's management is using to grow the business, compete successfully, attract and please customers, conduct operations, respond to changing economic and market conditions, and achieve organizational objectives is referred to as its?

• Business model

• Strategy

• Mission

• Vision