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block

The sociocultural segment of an environmental analysis is concerned with:

Select the correct answer(s).  

(0/0)

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social attitudes and cultural values within a society

the economic condition of society

how technology impacts society

the political condition of the societies in which a firm does business

none

The strategic management process is:

Select the correct answer(s).  

(0/0)

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a dynamic process involving the full set of commitments, decisions and actions related to a firm

set of activities that is guaranteed to prevent organisational failure

a process concerned with a firm’s resources, capabilities and competencies, but not with conditions in its external environment

a set of activities that have not been used successfully in the not-for-profit sector

none

A statement that articulates the ideal description of an organisation and gives shape to its intended future is a:

Select the correct answer(s).  

(0/0)

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strategic objective

strategic vision

strategic mission

strategic idea

none

A firm has a competitive advantage when:

Select the correct answer(s).  

(0/0)

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competitors are not able to duplicate the strategy

average returns are earned by the company

competitors are simultaneously implementing the strategy

the value-creating strategy is in the formulation stage

none

The I/O model argues that core competencies are the basis of a firm’s competitive advantage

Select the correct answer(s).  

(0/0)

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False

True

none

The work of effective strategic leaders is characterised by:

Select the correct answer(s).  

(0/0)

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a high level of certainty in the organisation

ambiguous decision situations

a lack of ability to affect the firm’s direction

high income levels

none

Which of the following is not a risk of globalisation?

Select the correct answer(s).  

(0/0)

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new rules of law and governance

the amount of time required to learn how to compete in unfamiliar markets

over-diversification internationally beyond capabilities to manage operations

increased diversity in the workforce

none

The threat from substitutes is low when:

Select the correct answer(s).  

(0/0)

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the quality of the substitute product is better than the quality of the industry’s product

the substitute product’s price is higher than the industry product’s price

switching costs are low

the substitute product stimulates new process innovations within the industry

none

A firm’s mission tends to be enduring while its vision can change in view of changing environmental conditions

Select the correct answer(s).  

(0/0)

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True

False

none

A major department store chain has a strict policy of banning photographs or videos of its sales floor or back room operations. It also does not allow academics to conduct studies of it for publication in research journals. In fact, some of its own top managers refer to the management’s policies on secrecy as “verging on paranoid.” These policies indicate that the top management of the firm believes the organization’s core competencies are

Select the correct answer(s).  

(0/0)

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imitable.

unobservable.

common.

causally ambiguous.

none

Product market stakeholders include a firm’s customers. The principal concern of this stakeholder group is:

Select the correct answer(s).  

(0/0)

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increasing the profitability of the firm

providing a stimulating career environment for employees

maximising the firm’s return on investment

obtaining reliable products at the lowest possible price

none

Customers, suppliers, unions and local governments are examples of capital market stakeholders

Select the correct answer(s).  

(0/0)

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True

False

none

A skill or knowledge possessed by the firm that, when applied, will create a competitive advantage is also referred to as:

Select the correct answer(s).  

(0/0)

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Core competency

Organisational resource

Differentiation

Management capability

none

Strategic leaders are:

Select the correct answer(s).  

(0/0)

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people located in different parts of the firm using the strategic management process to help the firm reach its vision and mission

people who are affected by a firm’s performance and who have claims on its performance

the CEO and top-level managers of a firm

the individuals and groups who have invested capital in a firm in the expectation of earning positive return on their investment

none

Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy

Select the correct answer(s).  

(0/0)

---

True

False