Exam 1: The Concept of Strategy

A) The way a firm competes in a particular industry or market
B) The way a firm establishes a competitive advantage over its rivals within a specific industry or market
C) Both of the above
D) Neither of the above

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Because strategy is characterized by com...

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A) Because the tenures of Professors at top business schools have shortened
B) Because each year new theories emerge in the business world
C) Because the business environment has changed, and how businesses regard themselves has changed
D) But has now come back to strategic fundamentals

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A) Only a figure of speech
B) A concept that signifies the immensity of potential new markets
C) A concept employed in the US Navy's strategic planning process
D) An expression coined by an author to make his management book more attractive

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A) Provided a battleground for the debate opposing the Design school and the Learning school
B) Been an extraordinary epic where players were discovering the field while dealing with its traps
C) Shown that the rational and analytical model was superior to the Emergence model because only intensive analysis and forecasting were able to fuel this success story
D) Shown the difficulty of entering the US market for Japanese firms because of the cultural, organizational, and legal gaps

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A) Strategic fit
B) Strategic leader
C) Benign environment
D) Political and social fit

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A) Corporate Strategic Responsiveness
B) Centralized Service-oriented Response
C) Corporate Social Responsibility
D) Corporate Social Responsiveness

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C

A) Relentless drive and quest for superstar status
B) Disciplined style of life and a capacity for working a lot
C) The capability to draw on others' talents
D) All of the above

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This basic framework consists of three m...

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A) The application of industrial organization economics for analyzing industry profitability
B) The development of "PIMS" at the Strategic Planning Institute
C) The first synthesis of the resource and capability approach
D) The first synthesis of a process to manage technology in large tech firms

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A

A) There is no concept like tactic in business
B) A good military strategist must first be a good military tactician - practicing it in the field first
C) The objective of war is to defeat the enemy or its leaders
D) None -there is no conceptual difference

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A) Lehman Brothers
B) E-Trade and WebVan
C) eBay
D) Peapod in grocery retailing

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A) A downgrade in the importance of strategic management
B) An increased integration of flexibility and responsiveness
C) A need for top managers' training about IT techniques
D) None of the above

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A) Being goal-focused
B) Having a strong and in-depth knowledge of the rules of the game
C) Knowing extremely well its own strengths and weaknesses
D) All of the above plus the ability to implement strategy with commitment, consistency and determination

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A) Strategic management is a young science
B) Strategic concepts and tools are produced by scholars, and not diffused to practitioners
C) Top managers lack knowledge of strategic concepts and tools
D) The strategic issues that companies face are too complex to be programmed

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A) The art of arranging men in a battlefield
B) Generalship
C) The art of maintaining a state's security
D) Maintaining physical and spiritual superiority

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