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Strategic Management Quiz

Strategic Management Quiz Answer. In this post you will get Quiz Answer Of Strategic Management

 

Strategic Management Quiz

Offered By ”Copenhagen Business School”

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Week- 1

The Meanings of “Strategy”

 

1.
Question 1
In
the 90s and early 00s, Novell, a software company once dominant in the
networking space, saw its market share decline steadily, as its proprietary
“Netware” software was replaced by freely available Internet based
software.

Question:
Which definition of strategy — which of the 5 Ps — does Novell’s strategy as described here best represent?

1 point

Strategy as a Plan

Strategy as Pattern

Strategy as Position

Strategy as Perspective

Strategy as a Ploy

2.
Question 2
To
get into the position described above, Novell needed to successfully execute a
number of steps: 1) Acquire Ximian, 2) Acquire SuSe Linux, 3) Develop a
migration path that would help Microsoft customers easily transition to
Novell’s free software, and so on. This too could be called a strategy, in accordance with one of the
other ways that people commonly use the word.

Question:
Which definition of strategy — which of the 5 Ps — does Novell’s strategy
best represent?

1 point

Strategy as a Plan

Strategy as Pattern

Strategy as Position

Strategy as Perspective

Strategy as a Ploy

3.
Question 3

Question:
If we call this tendency Armani has toward upscale and luxury products and
services a strategy, what meaning of
that word would this best represent?

1 point

Strategy as a Plan

Strategy as Pattern

Strategy as Position

Strategy as Perspective

Strategy as a Ploy

4.
Question 4

Question:
This strategy as enacted by the
established grocery store owner could be said to be an example of…

1 point

Strategy as a Plan

Strategy as Pattern

Strategy as Position

Strategy as Perspective

Strategy as a Ploy

 

 

 

Recognizing Strategic Situations

 

1.
Question 1
Which of the
following are strategic situations? (PLEASE NOTE, there are multiple correct answers and you must select ALL correct answers to get credit of this question)

1 point

While you and a
friend are sightseeing in Paris, you become separated from each other. You have
made a plan in the past that if you ever get separated in any city while sightseeing, you
should go to the most famous location
in that city to reunite. But you are
unsure whether your friend will think the most famous place in Paris is a) the
Eiffel Tower, or b) the Arc de Triomphe, or even c) the Louvre (your friend loves
art). You need to decide where to go to reunite with your friend.

You are training, trying to run a mile in 5 minutes or less.
So far you have gotten within 17 seconds of that time. Now you are trying
to decide what to do to improve further. You could a) do further endurance
training, or b) work on your running form, or c) study famous runners to learn
from their technique. You need to choose
which to do, as you don’t have time to do more than one.

You are competing in the one mile run, and you want
to place as high as possible. There is a race every day, but most runners run
only every other day. You know some runners are faster than you. What day will
you decide to run?

You’re
considering renting a meeting space with an outside garden for your daughter’s
birthday. But if it’s raining on the day you decide to have the party, you won’t
get to use the garden, and it will be less fun for everyone. The rental is only available
next Monday, Tuesday, or Wednesday. The weather report puts the chance of rain
at 20% Monday, 40% Tuesday, and 20% Wednesday. The owner has agreed to give you first option on any of the three days, as long as you decide soon (so no one else can rent the space while you are deciding). Which day will you choose?

2.
Question 2
Think about the
situation described in the previous question, in which you get separated from your
friend while sightseeing in Paris. What is the dominating strategy in that
situation?

1 point

Go to the Eiffel
Tower

Go to the Louvre

Go to the Arc de Triomphe

There is no dominating strategy in this situation.

 

 

 

Strategy as Position vs Capability

1.
Question 1
In
“What is strategy?”, Michael Porter criticizes Japanese companies for
“lacking strategic vision,” and for proceeding in business without
enough attention to strategy. Which of the following best expresses the primary problem
that Porter sees with the way many Japanese companies choose to compete?

1 point

They fail to invest in and sustain their operational excellence thus will eventually falter in the execution of operational
approaches that have helped them succeed.

 

They have analysed market conditions badly, mis-identifying supposedly defensible competitive positions, and too often seeking positions that they wrongly assumed would be defensible, but have not turned out to be.

Japanese
companies have been too inflexible in their establishment of strategic plans,
and unwilling to vary from them even when they prove ineffective.

By
emphasizing operational efficiencies, and benchmarking and copying each other’s
ways of operating, Japanese companies have all come to operate very similarly,
which means none of them can have a real sustainable edge.

2.
Question 2
Honda’s entry into the U.S. motorcycle market in the 1960s and 1970s has been used as a example that shows problems with Porter’s positioning approach to strategy. Which of the following best expresses an implication of the Porter approach that the Honda example disproves?

1 point

Porter’s approach would have suggested that Honda should develop a larger motorcycle tailored to the American market before entering, which it didn’t do.

Because U.S. and British firms dominated the already mature U.S. motorcycle market, a Porter style industry analysis would have told Honda not to attempt to enter the U.S. market and predicted, if they did enter, that they would fail.

Porter’s approach would have suggested that Honda needed to achieve more operational excellent before entering the U.S. market.

Porter’s approach would have told Honda to skip over the motorcycle market and go straight into the auto market in the U.S.

3.
Question 3
If your professor in this course plays a one-on-one basketball game against the legendary Michael Jordan (aka, “Air Jordan” or “His Airness”), who would most likely win?

1 point

It depends on who has a coach who can come up with the best strategies for the game.

Michael Jordan, no matter what. No amount of good strategy can overcome the skill disparity in basketball between a CBS professor and Michael Jordan.

Whoever has a dominating strategy.

Whoever has a sustainable competitive advantage due to his position in the game.

4.
Question 4
Which of the following are reasons you might want to take a “develop broad capabilities” (Strategy as Capability) approach to business strategy, rather than an “invest only in capabilities that help you achieve a planned sustainable position” (Strategy as Position) approach? (CHOOSE ALL THAT ARE CORRECT)

1 point

Because you’ll be better prepared to seize opportunities that emerge as the world changes.

Because the people and other resources that you might need to try to go after a sustainable position might not be available, so the position is not accessible, no matter how attractive it is.

Because your ability to predict the future is highly imperfect, which means you’ll often be wrong about which positions are achievable, and which positions will provide advantage.

Because you can’t develop top capabilities in every area, so you need to focus. And if you’re going to focus, you ought to focus on areas that align with desired market positions.

 

 

 

Week- 2

Learning from the History of Business Strategy

 

1.
Question 1
In the way we usually think about strategy, which of these are characteristics of the external
environment? (You can choose more than one)

1 point

Strengths

Weaknesses

Opportunities

Threats

2.
Question 2
If we do a good job of matching our internal capabilities to
opportunities in the external environment, then we would say the resulting strategy
exhibits…

1 point

Good fit

Loose coupling

Nonlinearity

Incoherence

3.
Question 3
Which of these is NOT a part of Rumelt’s criteria for evaluation of a good strategy?

1 point

Consistency

Consonance

Stability

Feasibility

4.
Question 4
Which of these is NOT a difference between early SWOT-based
approaches to strategy and strategic planning?

1 point

Strategic planning was much more formal and programmed than
earlier approaches.

Strategic planning places greater emphasis on measurable
objectives and budgets structures

Strategic planning tried to align internal capabilities with opportunities in the external environment, whereas SWOT did
not

Strategic planning was much more oriented toward decomposing
actions and plans into subactions and plans, as a formal part of the process.

5.
Question 5
Which of these is NOT one of Wilson’s
Seven Deadly Sins of Strategic Planning?

1 point

Planning staffs took over the
process

Programmed process dominated everything

Planning was required to be flexible to the point
of meaningnessless

Quantitative emphasis focused
attention on mergers, acquisitions, divestitures, restructuring, at expense of
core business development

Assumed too much certainty about knowledge of the
enviroment and the future, and took too much comfort in “the numbers”

6.
Question 6
According to the BCG matrix,
what is the appropriate order in which business lines should evolve?

1 point

From Cash Cow to Star and
eventually to Dog

From Dog to Cash Cow and then
back to Dog

From Problem Child to Star to
Cash Cow

From Problem Child to Star to
Dog

7.
Question 7
The BCG Experience Curve
suggested that which of these was the most important goal for businesses to pursue?

1 point

Profit margin

Debt reduction

Market share

Risk reduction

8.
Question 8
Which of these is NOT a recurring problem in the history of business strategy?

1 point

Assuming that the world is more
predictable than it is

Assuming that the external
environment is much more important than internal capabilities

Not seeing a problem in strategy making being done only by an elite group

Assuming that strategy making
always involves tradeoffs

 

 

Week- 3

Strategic Implications of Changes in the World

 

1.
Question 1
Which of the following is not a consequence of the huge economies
of scale in communication and transportation that now exist in the world?

1 point

Costs of transporting products across oceans are
high and rising.

Companies have to worry about far away rivals as well as
local rivals.

Companies in rich countries have strong incentives to move
work to lower cost countries.

Buyers everywhere have more choices.

2.
Question 2
When companies in rich countries face competition from
rivals based in developing countries, how does this change the way they try to
compete?

1 point

They reduce marketing budgets and focus on operations.

They shift from cost based to differentiation based
strategies.

They implement new forecasting methods.

They move from branded to commodity products.

3.
Question 3
According to Daniel Pink, in business today, “it’s no
longer enough to create a product that’s reasonably priced and adequately
functional,” it must also…

1 point

Be long lasting.

Be beautiful, unique, and meaningful.

Have few or no defects.

Be easy to use.

4.
Question 4
The theory of hypercompetition specifically calls into
question what main aspect of Porter’s classic definition of strategy?

1 point

The idea that you need to make tradeoffs.

The idea that operational efficiency is not strategy.

The idea that the CEO should be the strategist in chief.

The idea that an advantage can be sustainable over time.

5.
Question 5
A company that is successful in hyperdifferentiating one of
its products will have succeeded in which of these?

1 point

Manufacturing the
product extremely cheaply.

Making customer insensitive to the (usually high) price of
the product.

Outsourcing production to a lower cost geography.

Lowering the cost of marketing the product.

 

 

Week- 4

Peer-graded Assignment: Which Design

 

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