WorksheetsStrategic Management
Total questions: 35
Worksheet time: 18mins
Which of the following is a corporate-level strategy?
Differentiation
Market Penetration
Competitive Pricing
Diversification
A business-level strategy focuses on:
The entire organization
How to compete in a specific market
Geographic expansion
Capital budgeting
Functional-level strategies are primarily concerned with:
Shareholder returns
Market share
Departmental activities
Industry competition
Which is an example of a stability strategy?
Expanding into a new country
Merging with a competitor
Maintaining current operations
Launching a new product line
Retrenchment strategies are typically used when:
A firm wants rapid growth
A firm is doing well financially
A firm needs to cut costs or downsize
A firm is entering a new industry
In a blue ocean strategy, companies:
Compete in existing markets
Focus only on cost leadership
Create uncontested market space
Avoid innovation
A red ocean represents:
A) New and untapped markets
B) Existing and highly competitive markets
C) Markets with no competition
D) Markets with high innovation
One key tool of blue ocean strategy is:
SWOT analysis
Value Innovation
Porter's Five Forces
Benchmarking
Which of the following is NOT a characteristic of blue ocean strategy?
High competition
New demand creation
Value innovation
Breaking the value-cost trade-off
In the BCG Matrix, a “star” has:
Low growth, high market share
High growth, high market share
Low growth, low market share
High growth, low market share
In the BCG matrix, “dogs” typically represent:
Future potential
Strong products
Poor performers
Market leaders
The GE 9-cell matrix evaluates:
Product life cycle and growth
Market share and cost
Industry attractiveness and business strength
Core competencies and threats
A unit in the “Grow” zone of the GE matrix should:
Be divested
Be maintained without investment
Receive investment and expansion
Be outsourced
One limitation of the BCG matrix is:
It considers too many factors
It's only for service firms
It ignores market share
It oversimplifies complex decisions
Which of the following is a "soft" element in the McKinsey 7S model?
Structure
Strategy
Skills
Systems
The “shared values” in the 7S model are:
Tangible goals
Company culture and core beliefs
Leadership hierarchy
Product standards
The McKinsey 7S Framework is used primarily for:
Measuring profitability
Strategic planning and alignment
Auditing financial statements
Recruiting talent
Which element relates to the company's formal reporting relationships?
Skills
Structure
Staff
Style
In the VRIO framework, the “O” stands for:
Operational
Optional
Organization
Others
A resource that is valuable and rare, but not organized, will:
Provide sustainable advantage
Be easily imitated
Offer temporary advantage
Have no impact
Which of the following is NOT part of the VRIO framework?
Imitability
Relevance
Value
Organization
A competitive advantage is sustainable when a resource is:
Valuable
Valuable and organized
Valuable, rare, inimitable, and organized
Rare and inimitable
Porter's generic strategies include all EXCEPT:
Cost leadership
Differentiation
Focus
Innovation
A firm that seeks to serve a niche market with unique features uses:
Cost leadership
Broad differentiation
Focused differentiation
Integrated strategy
A cost leadership strategy aims to:
Increase prices
Focus on premium markets
Be the lowest-cost producer
Copy competitors
According to Porter, sustainable competitive advantage comes from:
Market saturation
Industry attractiveness
Unique value that is hard to replicate
Large-scale advertising
The Five Forces model is used to:
Analyze employee performance
Study internal operations
Examine industry competitiveness
Calculate profit margins
Porter's Diamond Model explains:
Internal strategy alignment
Competitive advantage of nations
Business-unit level growth
Pricing strategy
Which is NOT a part of the Diamond Model?
Factor conditions
Demand conditions
Strategic groups
Firm strategy and rivalry
The related and supporting industries in the Diamond Model refer to:
The government’s role in regulation
Suppliers and complementary businesses
Customer segments
Organizational culture
The first step in the strategic management process is:
Strategy implementation
Setting objectives
Environmental scanning
Evaluating performance
A mission statement describes:
Future goals
Tactical decisions
Purpose and core activities
Specific numbers and metrics
A vision statement is meant to:
Show short-term goals
Direct operational tasks
Inspire and guide long-term direction
List financial targets
Goals are generally:
Vague ideas
Specific and measurable
Broad and long-term
Short-term steps
The feedback and control stage in strategic management is about:
Developing alternatives
Implementing strategy
Monitoring and adjusting based on results
Brainstorming new products
