WorksheetsISSMA - QUIZ 5
Total questions: 60
Worksheet time: 40mins
It describe those areas in which good results help ensure an organization’s successful competition and poor results usually lead to declining performance.
(a)
It is the full set of end-to-end activities involved in creating value for the end user.
(a)
It is the sequence of activities a company performs to design, produce, sell, deliver, and support its products or services.
(a)
Something a company is good at doing or a characteristic that gives it enhanced competitiveness.
(a)
Something a company lacks or does poorly or a condition that puts it at a disadvantage
(a)
A firm strives to create a cost advantage in its target segment Exploits differences in cost behavior in some segments.
(a)
Firm seeks to be unique in its industry along some dimensions of product or service that are widely valued by buyers.
(a)
Focused INTERNALLY on the firm’s operations and activities.
(a)
Focused EXTERNALLY on competition vis-à-vis the firm’s rivals.
(a)
This strategy rests on the choice of narrow competitive scope within an industry.
(a)
This strategy involves reversing performance decline and reinvigorating growth toward profitability through asset and cost surgery, selected market and product pruning, and piecemeal productivity improvements.
(a)
Policies and procedures which make the organization work.
(a)
To lead the process of making corrective adjustments, it involves promoting fresh initiatives to bring internal activities and behavior into better alignment with (a) .
. A firm’s achievement of similarity, or being “on par” with competitors with respect to low cost, differentiation, or other strategic product characteristics.
(a)
One firm, the acquirer, purchases and absorbs operations of another, the acquired.
(a)
Refers to how a business “learns” to lower costs as it gains experience with production processes.
(a)
This involves withdrawing from certain value chain activities and relying on outsiders to supply needed products, support services, or functional activities.
(a)
In 7-S framework, this process and basis of decision making of management, especially the CEO, which is an important determinant in what is strategically possible for the organization.
(a)
To lead the process of making corrective adjustments, it requires _______ adjustments are needed, and _______ adjustments to make.
(a)
Requires a much wider set of managerial activities and is much more time consuming.
(a)
Assessing tangible resources; the size, location, technical, sophistication, and flexibility of plant and equipment.
Financial Resources
Physical Resources
Technological Resources
Reputation
Stock of technology in the form of proprietary technology (patents, copyright, trade secrets) and expertise in the application of technology (know-how).
Financial Resources
Physical Resources
Technological Resources
Reputation
Analysis is the most basic and universally accepted approach to assessing a firm.
Non-financial data analysis
Financial data analysis
Quantitative analysis
Financial ratio analysis
The firm’s borrowing capacity and its internal funds generation determines its capacity for investment expenditure and its ability to weather fluctuations in demand and profits over time.
Financial Resources
Physical Resources
Technological Resources
Reputation
Assessing the intangible resources which key indicators are; brand recognition, price premium over competing brands, percentage of repeat buying, level and consistency of company performance, and objective measures of product performance.
Financial Resources
Physical Resources
Technological Resources
Reputation
A firm’s generic strategy based on appeal to a narrow market segment within an industry.
Cost-leadership strategy
Generic strategies
Focus Strategy
Differentiation strategy
A firm’s generic strategy based on appeal to the industry wide market using a competitive advantage based on low cost.
Cost-leadership strategy
Generic strategies
Focus Strategy
Differentiation strategy
A firm’s generic strategy based on creating differences in the firm’s products or service offering by creating something that is perceived industry wide as unique and valued by customers.
Cost-leadership strategy
Generic strategies
Focus Strategy
Differentiation strategy
Responsibility of plant managers, geographic unit managers, and lower level superiors.
Corporate strategy
Operating strategies
Functional strategies
Business strategies
Responsibility of corporate-level managers.
Corporate strategy
Defensive strategy
Functional strategies
Business strategies
Used to protect competitive advantage.
Corporate strategy
Defensive strategy
Functional strategies
Business strategies
Used to build new or stronger market position and/or create competitive advantage.
Corporate strategy
Offensive strategy
Functional strategies
Business strategies
Responsibility of heads of major functional activities within a business unit division.
Corporate strategy
Offensive strategy
Functional strategies
Business strategies
Responsibility of business-level general managers.
Corporate strategy
Offensive strategy
Functional strategies
Business strategies
The __________ stage is characterized by strong increases in sales, attractive to potential competitors, and when firms can build brand recognition.
Introduction stage
Decline stage
Growth stage
Maturity stage
The ___________ stage is when products are unfamiliar to consumers, market segments are not well-defined, product features are not clearly specified, and competition tends to be limited.
Introduction stage
Decline stage
Growth stage
Maturity stage
The ___________ stage is when industry sales and profits begin to fall, price competition increases, and industry consolidation occurs.
Introduction stage
Decline stage
Growth stage
Maturity stage
The ___________ stage is when aggregate industry demand slows, market becomes saturated, few new adopters, direct competition become predominant, and marginal competitors begin to exit.
Introduction stage
Decline stage
Growth stage
Maturity stage
Generic strategies, value creating activities, and overall objectives all vary over the course of an ________________.
Industry growth
Industry life cycle
Industry maturity
Industry decline
Strategic change framework that planning how changes will be made.
8 SIT framework
7-S model
Porters model
Zachman framework
Given below are the characteristics of a strong culture except;
Conduct business according to a clear, narrowly- understood philosophy
Values are widely shared and deeply rooted
Careful screening/selection of new employees to be sure they will “fit in”
Considerable time spent by management communicating and reinforcing values
Given below are the characteristics of a weak culture except;
Weak employee allegiance to company’s vision and strategy
Few behavioral norms evident in operating practices
No strong sense of company identity
Having good and widely-shared core set of values
Given below are the characteristics of a unhealthy culture except;
“Not-invented-here” mindset - company personnel discount need to look outside forb best practices, new or better managerial approaches, and innovative ideas
Hostility to change
Respect for high ethical standards and overzealous pursuit of wealth by key executives
Highly politicized internal environment
Strength and weaknesses looks at:
The internal factors affecting the business
The future of the business
The external factors affecting the business
None of the above
Some of the examples of internal environment factors in an organization are;
Management changes
Culture changes
Employee moral
All of the above
Major competitors’ actions often produce new and significant problems that become critical success factors (CSF).
True
False
A type of quantitative analysis in value chain is financial data analysis, and non-financial data analysis.
True
False
Inability of an alliance to endure depends on how well partners work together, success of partners in responding and adapting to changing conditions, and willingness of partners to renegotiate the bargain.
True
False
The value chain perspective considers every activity in the process, regardless of who performs the activity.
True
False
A company’s value chain is typically just a part of a larger value system that includes companies either upstream (suppliers) or downstream (distribution channel), or both (i.e. the industry’s value chain).
True
False
It is a useful tool for disaggregating a company’s operations into strategically relevant activities and business processes exposes the major elements of the company’s cost structure.
True
False
Competitive advantage exists when the firm’s strategy gives it an edge in improving market share, and defending itself against competitive forces.
True
False
Alliances fail because of the ability of partners to work together.
True
False
In selecting generic strategies, each business establishes a central theme for how a company will endeavor to out-compete rivals.
True
False
A business objective sets to convert the vision and mission into specific, measurable, and timely performance targets.
True
False
Strategic change means taking the necessary steps to ensure that the organization will be capable of implementing strategies.
True
False
Standout cultural traits does not include a can-do spirit, pride in doing things right, no-excuses accountability, and a results-oriented work climate in which people go the extra mile to achieve performance targets.
True
False
One of the leadership roles is to put constructive pressure on company to achieve good results.
True
False
Formulating a strategic plan does automatically mean that the people in an organization will cooperate or, much worse, is even capable of implementing the required activities.
True
False
Successful leaders spend time in mobilizing organizational energy behind, good strategy execution, and operating excellence.
True
False
