The purpose of strategy in business is to do what? - ✔✔To create and provide the business with
sustainable competitive advantage
The difference
... [Show More] between strategic decisions and tactical decisions is one of degree. The characteristics
that differentiate between a strategic decision and a tactical decision is based on which of the following.
- ✔✔Amount of available resources consumed by the decision, Ability to reverse the decision and
Temporal implication consequences of the decision
In order to understand the true nature of the need or problem we are addressing as a business the first
question we need to answer is which one of the following: - ✔✔What Business are we (really) in?
The most simple way in which to craft a Vision Statement and a Mission Statement are to use which
words? - ✔✔For a Vision Statement the words "to be" and for a Mission Statement the word "by"
The metaphor used for competitive advantage is a castle's moat. The metaphorical managerial
imperative is to have the moat both deep and wide. What is the most sustainable way listed below to
achieve a deep and wide moat? - ✔✔A company's patents
The basic assumption of "Tone-at-the-Top" as a leadership concept is best represented by which one of
the following statements? - ✔✔That it represents the ethical atmosphere created in the workplace by
leadership
Strategic planning methodologies have evolved from the traditional sequential planning process that
assumed a stable and benign environment to those that are more adaptive to turbulent planning
environments. Which two of the following are among these more recent strategic planning
methodologies that are more appropriate for today's turbulent business operating environment? -
✔✔Scenario planning and Future backwards planning
The purpose of any organization is to do which one of the following? - ✔✔Create value for its
stakeholdersThere are several stakeholder analysis frameworks. One of these, the salience stakeholder analysis
model, is based on three attributes. Which of the below are the three salience model attributes? -
✔✔Power, Legitimacy and Urgency
Stakeholder management is an art. The most successful approach to optimizing value for all stakeholders
comes through which one of the following approaches? - ✔✔Partnering
PESTEL analysis is a useful tool for grouping the various influences coming from an organization's
external environment. The acronym PESTEL refers to the Political, Ecological, Social, Technological,
Environmental and Legal environments. It this last statement true or false? - ✔✔False
Porter's five forces consist of five elements - Threat of New Entrants, Bargaining Power of
Customers/Buyers, Bargaining Power of Suppliers, Threat of Substitutes and Rivalry Among Existing
Firms. Which of these five is the most important for understanding the effect on firm profitability? -
✔✔Could be any of five elements since it depends on the industry dynamics at any point in time
Strategic group mapping is based on two central ideas. Which of the below best describe these two
central ideas? - ✔✔The paired evaluative dimensions chosen to finally represent strategic groups should
be those that differentiate between the strategic groups the most and The characteristics of the strategic
groups demonstrate lesser within strategic group variance than those that exist between strategic
groups
Competitor analysis needs to be focused on the here and now. Is this statement true or false? - ✔✔False
The Herfindahl-Hirschman Index (HHI) is a commonly ac [Show Less]