SM Session 01 recap

Strategy is concerned with:

• foresight and a holistic view of the firm

• the short-term objectives of the firm and ways of meeting them

• defining marketing goals and targets

• enhancing sales performance

The establishment of modern-day strategic management as a discipline can be traced back to:

• the 1960–70s, drawn from economics

• the industrial revolution in north-west England

• the 1980s, with the advent of large US multinational corporations

• the 1930s, drawn from social psychology

Chandler is famous for:

• . seeing strategy as leading to structure

• seeing structure as leading to strategy

• seeing strategy and structure as co-evolving

• none of these

A main feature of Ansoff’s logic is that strategy is the exclusive territory of:

• marketing managers

• top management

• sales managers

• the founder of the company

According to ______, resources that are not easily copied by competitors are the real source of innovation and value for a firm.

• Porter

• Penrose

• Chandler

• Ansoff

Which of the following approaches in strategy have been influenced by Penrose?

• dynamic capabilities

• resource-based view

• knowledge-based perspectives on strategy

• all of these

With which of the following would you associate this statement: ‘the environment determines success, not the resources controlled’?

• Penrose

• Machiavelli

• Peters & Waterman

• Porter

According to Michael Porter, firm profitability is dependent on ______.

• industry structure

• people

• the initial capital employed

• the economy

Strategy can be defined simply as:

• strategy = goals + people

• strategy = knowledge + resources

• strategy = knowledge + capability

• strategy = people + money

The concept of ‘Red Queen’ in strategy means:

• moving forward fast

• standing still on one spot

• running hard to stay in a competitive position

• competing on the basis of tradition