CPS Q1

Types of strategic management strategies by: Henry Mintzberg

• Plan - Ploy - Pattern - Position - Perspective

• Product - Price - Place - Promotion - People

• Plan- Do - Check - Act

• linear - adaptive- interpretive - expressive - transcendent

Which of the following is NOT part of a company's macro-environment?

• The company's resource strengths, weaknesses and competitive capabilities.

• Economic factors.

• Political and Socio-Cultural factors.

• Technological factors and Legal conditions.

The most widely used tool for diagnosing the principle competitive pressures in a market is the:

• Competitor Profiling.

• SWOT Analysis

• Five Forces Model.

• Market analysis.

Which of the following is generally NOT considered a barrier to entry?

• The reaction of incumbent firms to rapid market growth.

• Strong brand preferences and a high degree of customer loyalty.

• High capital requirements and restrictive government policies.

• Strong “network effects” in customer demand.

Which is NOT a part of Porters 5 forces?

• Bargaining power of Suppliers

• Threat of New entrants

• Financial threat

• Bargaining power of customers

Well-stated objectives are:

• all of these.

• directly related to the dividend payout ratio for stockholder returns.

• clear, succinct, and concise so as to identify the company’s risk and return options.

• quantifiable or measurable, and contain deadlines for achievement.

When developing strategy for organization, which questions should we ask first?

• How are our departmental operational plans?

• How we will get there on a daily to weekly basis?

• What are our short-term goals and operational objectives? How do we break down a larger strategic goal into workable tasks?

• Where do we compete? What unique value do we bring to market? Which resources do we have or need? How do we sustain our value?

What is the last step of the Strategic Management Process?

• Formulating Strategies

• Evaluating Results

• Implementing Strategies

• Evaluating Weakness

A company’s strategic vision describes:

• why the company does certain things in trying to please its customers.

• management’s storyline of how it intends to make a profit with the chosen strategy.

• what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.

• management’s aspirations for the future and delineates the company’s strategic course and long-term direction.

Which is the FIRST step in the strategic Management process?

• Monitoring and evaluating strategies

• Developing the vision and mission

• Goals and Objectives

• Strategy formulation