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WorksheetsWeek 4 strategy
Total questions: 19
Worksheet time: 14mins
What's the purpose of the passage?
to give advice on forming a business strategy.
to define different types of goals.
to advertise a business strategy.
to explain when a business should branch out.
What do we check in 'Legal Analysis' in PESTLE?
Evaluating trends in society and culture that can affect the business
Checking government. decisions which can effect your business
Analysing the strength of an economy
Analysing changes in technology that can impact your business
Examining the law to understand how it can influence the business
What do we check in 'Environmental Analysis' in PESTLE?
Evaluating trends in society and culture that can affect the business
Checking government. decisions which can effect your business
Evaluating environmental issues that will affect the business
Analysing changes in technology that can impact your business
Examining the law to understand how it can influence the business
Differentiation strategy is best described as one in which firms seek a competitive advantage:
through establishing their uniqueness
through having a lower cost than their competitors
through concentrating on a narrow market segment
through achieving a match between their internal and external environments
Apai Superstore is able to provide customers with lower prices because they have efficient methods of distribution, large volume discounts from suppliers and they are in control of portions of their manufacturing and inventory.
Cost Leadership
Differentiation
Cost Focus
Niche Focus
In Porter's Five Forces, the 'threat of new entrants' relates to:
Barriers to entry
Substitutes
Switching costs
Buyer power
VRIO framework is a strategic analysis design to help organization uncover and protect _____________
Resources and Capabilities
Ability and Market view
Value and rarity
Inimitable and value
Which of the following is not part of VRIO framework
Responsibility
Rare
Inimitable
Value
Organized
In characteristics of strategic resources under VRIO framework, What do you call it if a business resource or capability is not valuable enough.
A.There is competitive disadvantage
B. There is competitive parity
c. There is competitive temporary disadvantage
D. There is sustained competitive advantage
What am I?
I am one of the component of the business environment, which is composed of various elements present inside the organization, that can affect or can be affected with the choices, activities and decisions of the organization.
A. External Environment
B. Environment
C. Micro Environment
D. Internal Environment
What am I?
I am a strategy formulated by organizations to understand the elements of the business for a long term competitive advantage.
A. Resource Based View
B. Competitive Advantage
What are the two perspective of RBV (Resource-Based View)?
A. Heterogeneous and Immobile
B. Internal Analysis and External Analysis
Which activities are included in primary activities of Value chain model?
Marketing and sales
Inbound activities
Human resource management
Operations
What are the supporting activities of the value chain model?
the infrastructure of the firm, Human Resource department, Technology department, Procurement
Infrastructure of the firm, Human Resource department, Technology department, Marketing and Sales
Infrastructure of the firm, Service, Technology department, Procurement
dInbound logistics, Procurement, Outbound Logistics, Marketing and Sales, and Service
The purpose of value-chain analysis is to increase production efficiency so that a company can deliver maximum value for the least possible cost.
True
False
A leadership plan that achieves a specific set of goals or objectives is called a _____________ _____________.
Business plan
Business challenge
Business strategy
Business goals
When Apple introduced the new iPhone in 2007, they enjoyed this advantage:
competitive advantage
first-mover advantage
customer relationship advantage
business process advantage
