
Strategy reading
Quiz
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Business
•
University
•
Practice Problem
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Medium
Alberto Gómez
Used 2+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key characteristic of an effective strategy?
Ambiguity and confusion
Clarity and focus
Overly complex processes
Lack of direction
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT one of the four key elements of a successful strategy?
Random chance
Market analysis
Strong leadership
Clear vision
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the reading, strategy is primarily concerned with:
daily operational tasks
long-term planning and direction of an organization
employee satisfaction metrics
short-term financial gains
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What concept describes the alignment between a firm's strategy and its external environment?
Market alignment
Operational synergy
Competitive advantage
Strategic fit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do firms need strategy?
Firms need strategy to ensure all employees work independently.
Firms need strategy to guide decision-making and ensure alignment with their objectives.
Firms need strategy to avoid competition entirely.
Firms need strategy to increase employee salaries.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of strategic planning?
To define an organization's direction and allocate resources effectively.
To conduct market research and analysis.
To increase employee satisfaction and morale.
To implement daily operational tasks effectively.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a competitive advantage?
A strategy to reduce costs without improving quality.
A plan to enhance customer service without changing product features.
Attributes that allow an organization to outperform its competitors.
A method to increase market share through aggressive pricing.
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