Strategic Mgt Fill in the Blanks

7/29/2019 Strategic Mgt Fill in the Blanks

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830001-Strategic Management 2010

Sanjay Joshi

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Module-1

Short Question

1.

What is strategic management?2. What are the major 4 steps in strategic management process?3. List down various stakeholders.4. Explain how community as a market related stakeholder would affect to the business?5. Assumptions of I/O model6. Explain the meaning of purpose/objective with suitable examples.7. Differentiate between financial objectives and strategic objectives.8. Explain the relationship between strategy and business model.9. A picture of a future path which indicates what the firm wants to be explain.10. How a firm can assess the impact of the driving forces?11. Discuss common guidelines for choosing variables for strategic group mapping.12. Why it is important to study the external environment for every business firm?13. What is KSF?14. Give an example of strategic group mapping.15. When bargaining power of buyer becomes strong?16. How seller and supplier partnerships can create competitive pressures.17. Enumerate the major threats of entry for new entrants in an industry.18. List various industries dominant economic features.19. Give the components of a companys macro environment.20. Draw the diagram of porters five force model and explain one force in detail.21. What is strategic inflection point?

Long Question

1. What is strategy? How the firm can achieve above average return?2. Explain the assumptions of I/O model.3. According to I/O model, what should a firm do to earn above-average return?4. What is resource based model of achieving average above return? Explain with the help

of suitable diagram.

5. Good strategy + Good management = Good Management Explain.6. What are stakeholders? How do three primary stakeholder groups influence or affect to

the organization?

7. What are the elements of strategic management process?8. Explain the hierarchy of strategic decision making levels.9. What are vision, mission and objective? Also explain the characteristics of vision and

mission. Give minimum three real world examples of each.

10. Business strategies are partly proactive and partly reactive Explain.11. Why it is important for a firm to study and understand the external environment?12. What is the external environmental analysis process? What does the firm wants to


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learn when using this process?

13. What are the major segments of general environment?14. The external environment is the set of factors that directly influences the firm

explain it with the help of PEST model.

15. How the five forces of competition in an industry do affects its profit potential? Explain.16. What are the basic steps in positioning on a strategic group map?17. What are the common types of key success factors found in an industry?18. Distinguish on major points between vision and mission.19. Explain the role of corporate decision making in making strategic formulation.20. What factors are driving industry changes and what impacts will they have? Explain in

detail.

Multiple Choice Questions1. In strategic thinking, how long is the strategic thinking period that can be best

implemented, approximately?

a) A week to a monthb) 1 to 12 monthsc) 1 to 5 yearsd) More than 5 yearse) None of the abovef) All of the above

2. What are next 3 steps after strategic analysis in strategy process?a) Deliberate strategy, emergent strategy, realized strategyb) Appraisal of strength and weaknesses, choice and implementationc) Strategy selection, strategy implementation and strategic controld) None of the above

3. Which of the following parameters appears in the mission model?a) Purpose, Values, Strategy and Standards of behaviorb) Aims, Goals, Objectives and Constraintsc) Policies, Plans, Controls and Constraintsd) Environment, Resources, Beliefs and Ethical Standardse) Strength, Weakness, Opportunity and Threats

4. Withdrawal, consolidation and building are examples of.... what?a) Corporate Strategiesb) Directional Strategiesc) Strategy Alternativesd)

Grand Strategiese) Strategic Direction

f) None of the above5. I/O model and resource based model is aiming at.

a) Core Competencyb) Competitive Advantagec) Above Average Returnd) Nominal Return


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e) None of the above6. To find out what a strategy is, you should

a) Read the mission Statementb) Look at what the organization actually doesc) Read the strategic Pland) Ask to the CEO or any Employee.

7. Which of the following statement is NOT true when describing a successful strategy?a) It provides some property that is uniqueb) Provides means for renewing competitive advantagec) Addresses changes in the environmentd) It guarantees long term survival

8. In the context of strategic management, resources can be defined asa) The knowledge and skills within the organizationb) Sometimes organization owns and controls that cannot be copiedc) Sometimes organization owns, controls or has access to on a semi-permanent basisd) The physical assets of the organization

9. In the context of strategic management, stakeholders can be defined asa) An individual or group with a financial stake in the businessb) An external individual which is able to impose constraintsc) Internal group or individual that influence strategic directiond) An individual and group with an interest in the organizations activity who seeks to

influence them

10. In the case, where an organization acquires its supplier, then it is the example ofa) Horizontal Integrationb) Forward Vertical Integrationc)

Backward Vertical Integration

d) Downstream Vertical Integration11. In terms of PEST analysis, the liberalization of international trade and tariff regimes

could go in which section?

a) Political and Legalb) Economicalc) Socio-culturald) Technologicale) All of the abovef) A and B both

12. Typically profits are highest in which stage of the industry life cycle?a) Introductionb) Growthc) Maturityd) Declinee) All of the above

13. The resource based view of the firm can also be described asa) The outside-in approach


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b) The inside-out approachc) The outsider approachd) The insider approach

14. If resource is INIMITABLE then a competitor finds ita) Easy to copyb) Easy to acquirec) Difficult to copyd) A and B both

15. Which type of assets can be considered as the most heterogeneous?a) Humanb) Physicalc) Financiald) Intangible

16. The essence of strategy isa) to capitalize on rivals weaknessesb) to match the firms internal strength to the opportunities availablec) to control the firms industry environmentd) to develop as may distinctive competency as possible

17. A vision statement saysa) Sets the firms boundary and provides a sense of directionb) Sets the specific results to be obtained within a given period of timec) States what business the firm is ind) Describes the firms aspirations to achieve some higher purposes

18. Corporate strategies for diversified firma) Entails extensive portfolio analysisb)

Asks how to build competitive advantages

c) Asks what sets of business the firm should operated) Seeks to mitigate over weaknesses

19. Which of the following tends to decrease the degree of rivalry within an industry?a) the absence of clear industry leaderb) a low cost fixed structurec) slow growth within the industryd) undifferentiated products

20. Strategic groups area) Firms within an industry that pursue similar strategyb) Firms within an industry that form alliances with each otherc) Firms within an industry that agree not to compete with each otherd) Relatively fixed


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True FALSE1. The companys strategy partly proactive actions to improve the companys financial

performance and secure competitive edge.

2. Strategic thinking is a continuous process.3. When buyer demand is weak or declining, buyer bargaining power is also weak.4. Proven ability to improve production processes is the example of manufacturing related

Key Success Factors.

5. Corporate level strategies are generally consists daily routine thinking and require moreof technical skills.

6. A firms distinctive competency arises out of competitive advantages it holds over itsrival.

7. Senior management is usually the group in a firm that is most responsible for thecompanys strategic management.

8. Stakeholders are the owners of a corporation.9. Changes in the general environment tend to have different implications for different

industry.

10. Barriers to entry are legal prohibitions to expansion of the number of competitors in anindustry.

11. Competition among the firms in a strategic group is usually more intense than thatbetween strategic groups.

12. Competitive intelligence gathering is a form of environmental scanning that seeks toidentify the changes in the macro environment.

13. Carbonated soft drinks would have the lowest threats of substitute product.14. A strategic group mapping can shift over a period of time.15. Absence of a clear industry leader tends to decrease the decrease the rivalry within an

industry.16. Business Model and strategy is no longer interrelated with each other.17. Financial institution are comes under product market stakeholder in business.18. The variable must be identical while mapping a firms competitiveness in an industry.19. Key Success Factors are attributes that spell the difference between profit and loss and

competitive success and failure.

20. Supply chain management is the manufacturing related key success factors.Fill in the blanks:

1. Strategy is generally understood as __________________ and __________________ tocompete successfully in the market place.

2. ___________________ have much more interest in the business relate to some form ofreturn on their investments.

3. Rightfully except the business to be good citizens in their society are knownas________________.

4. How do we make money in this business is a _________________________.5. Generally ____________________________ analysis makes good business sense or

business model.


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6. ____________ deals with companys competitive initiatives and business approacheswhile ________________________ whether revenues and costs flowing is viable.

7. Good strategy + Good strategic execution = _______________________________8. Identifying the specific competitive pressures is the first step in analyzing

___________________________.

9. _________________________ are the major underlying causes of changing industry andcompetitive conditions.

10.One technique to reveal different competitive positions of industry rivals is knownas________________________________.

11.Identifying the competitive characteristics is the first step in ____________________.12.Two variables chosen for strategic group mapping do not have to be

either_________________ or __________________.

13.Strong distribution channel is the example of _____________________________ KSFs.14.PEST model aims at __________________________ analysis.15.________________________ level strategic decision making is of daily and require

technical knowhow.16.______________________ a powerful source of competition in the market place.17.Quite often supplier, exercise considerable bargaining power over companies is the

situation when _________________________

18._________________________ are totally uncontrollable by the individual firm.19.__________________________ is the major threats to entry for new entrants in an

industry.

20.___________ and ______________ model aimed at above average return in thebusiness.


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MODULE-2

Short Question

1. List the various components of internal analysis.2. Explain the concept of value chain.3. Differentiate between primary activities and supportive activities.4. What do you mean by resource in strategic context?5. Explain the term Capabilities.6. What is a functional area capability?7. Explain marketing related capabilities with the help of example.8. Differentiate between tangible and intangible resources.9. What do you mean by Core competency?10. What do the SWOT listings reveal?11. Enumerate 4 major strengths for automobile industry in India.12. Identify three steps for SWOT analysis.13. Why the value chain activities differ among the industry firms.14. What do you mean by competitive advantage?15. Explain the concepts of sustainable competitive advantage.16. Discuss four major criteria for sustainable competitive advantage.17. What is a non substitutable capability?18. Explain the term procurement given in supportive activities of value chain.19. What do you mean by outsourcing?20. Human Resource is considered as an intangible asset explain.

Long Question

1. How to gain competitive edge over rival? Discuss in detail.2. Should a strategy be deliberately planned or should it be allowed to be emerging?

Discuss.

3. Why it is important for a firm to study and understand its internal environment?4. Are tangible resources linked more closely to the creation of competitive advantages

than are intangible resources, if yes, Why?

5. What are capabilities? What must firm do to create capabilities?6. Why firm need to outsource? Will outsourcing important in the 21st century? If yes then

why?

7. How do firm identify internal strengths and weaknesses? Why it is vital for managers tohave a clear understanding of their firms strengths and weaknesses?8. Discuss the application of internet in value chain activities.9. Explain competency, core competency and competitive advantage with suitable

examples.

10.What are the companys resource strengths and weaknesses and its externalopportunities and threats?


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11.Why the value chain activities of rival companies often differ?12.Explain the value chain system for entire industry in detail.13.Does the growing popularity of downloading music from the internet give rise to a new

music industry value chain? Explain why?

14.Why business firm needs to make SWOT analysis?15.Do the SWOT analysis for SUGAR industry in India.16.Do the value chain analysis for any of your liking firm with suitable example.17.Is a value chain, supply chain and demand chain management the same? Explain.18.Explain how your business can gain competitive advantage?19.A companys primary and secondary activities identify the major components of cost

structure explain.

20.What do you mean by benchmarking? A tool for assessing whether a companys valuechain costs are in line explain.

Multiple Choice Questions

1. SWOT analysis is an evaluation of the organizations______________ strengths andweaknesses and its ____________________ opportunities and threats.

f) External; internalg) Internal; internalh) External; externali) Internal; external

2. The goal of SWOT analysis is to ____________ the organizations opportunities andstrengths while _____________ its threats and _________________ its weaknesses.

a) Avoid; Neutralizing; correctingb) Exploit; neutralizing; correctingc) Avoid; capitalizing; neutralizingd) Exploit; avoid; ignoring

3. What is core competency?a) Resources which critically underpin competitive advantage and that other cannot

obtain

b) Activities and processes needed to meet customers minimum requirements andtherefore to continue to exist

c) Key skills required for success in a particular businessd) Activities that underpin competitive advantages and are difficult for competitors to

imitate

4.

The value chain attempts to identify those activities which add value toa) The organizations stakeholdersb) The senior strategic managers in the organizationc) the organizations shareholdersd) the customer or final user


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5. The value chain composed of primary and supportive activities. Which answer belowprovides the correct components for primary activities?

a) Services, HRM, marketing and sales, operations and outbound logisticsb) Marketing and sales, operation, operations and outbound logisticsc) Procurement, firm infrastructure, HRM, technologyd) Inbound logistics, operations, outbound logistics marketing and sales, services

6. Robustness for strategic capabilities is more likely whena) Linkages in the value network are exploitedb) Core competencies are complex, ambiguous and dependent on culturec) Competences lie with specific individualsd) Core competences lie in the separate parts of the organizations value chain

7. Which type of organizational knowledge is a source of competitive advantage?a) Explicit knowledge which is classified and formalized in a planned and systematic

way

b) Personal knowledge which is hard to communicate and formalizec) Customer database, market research report, management reportsd) Collective and shared experience accumulated through systems, routines and

activities of sharing across the organization

8. In a resource based view of strategy, what type of strategic capabilities are the source ofsustainable competitive advantage?

a) Unique resource and core competencesb) Dynamic capabilitiesc) Operational excellenced) Strategic capabilities which are valuable to buyers, rare, robust and non

substitutable

9.

What are the three criteria for the robustness of strategic capabilities?a) Core competences, unique resources and dynamic capabilitiesb) Complexity, casual ambiguity and value to customerc) Complexity, casual ambiguity and rarityd) Complexity, casual ambiguity and culture/history

10.The purpose of SWOT analysis is to analyzea) The business environment in which a firm is operatingb) The strategic capabilities of an organizationc) External and organizational environmentd) A and B both

11.It is a simple but powerful tool for sizing up a companys resource capabilities,deficiencies, its market opportunities and the external drivers which affects the firms

future well being

a) Core competencyb) Competitive advantagec) SWOT analysisd) Sustainable competitive advantage


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12.An activity that a company has learned to perform well is known asa) Core competencesb) Competencesc) Competitive advantaged) All of the above

13.Which of the following is the basis for competitive advantage for the firm?a) Competencesb) Core competencesc) Competitive advantaged) Empowered human resource

14.Online sales are the example of..a) Potential resource strengthb) Competitive advantagec) Market opportunityd) External threat

15.Which of the following identifies the primary activity that creates customer value withrelates to support of other resources?

a) SWOT analysisb) Competitive advantage]c) Value chaind) Supply chaine) C and D both

16.Financial activities are fall under which of the following value chain activity?a) Primaryb) Secondaryc)

A and B both

d) None of the above17.Which of the following is a tool for assessing a companys cost competitiveness?

a) SWOT analysisb) Value chain analysisc) Activity based costingd) Procurement coste) None of the above

18.Benchmarking is BEST defined asa) A tool for learning which companies are best at performing particular activityb) A tool for assessing a companys cost competitivenessc) A lowest performance of a firm in a particular activityd) All of the abovee) None of the above


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19.In value chain activity, inbound logistics area) Assets associated with converting inputs into final productb) Assets associated with purchasing fuel, energy, parts and componentsc) Assets related to sales forced) A and B bothe) None of the above

20.Slowdown in market growth is .a) A resource strengthb) An external threatsc) A market opportunityd) All of the abovee) A and B both

True FALSE1. A firm SWOT analysis consists of internal as well as external elements.2. The stronger the companys financial performance and market position, the more likely

it has a well-conceived strategy.

3. Value chain analysis is simple but powerful tool for sizing up a companys resourcescapabilities and deficiencies.

4. Valuable physical assets are identified as companys resource strength.5. Core competences are that a company has learned to perform well.6. Competitive advantage is a competitively important activity that a company performs

better than its rivals.

7. Core competence is knowledge based, residing in people and in a companys intellectualcapital and not in the balance sheets.

8. Distinctive competence is a basis for sustainable competitive advantage.9. A companys resource strength and resource weaknesses represent a companys

competitive assets.

10.Integrating forward or backward linkages can be a potential market opportunities.11.Simply making lists of a companys strengths, weaknesses, opportunities and threats is

enough for SWOT analysis.

12.A companys value chain identifies the primary activities that create wholesales andretailer value and related support activities.

13.Primary activities are those which facilitate and enhance the performance of humanresources available in the organization.

14.A companys primary and supportive activities identify the major components of its coststructure.15.Biggest threat for the organization is in the wrong strategic group map.

16.Value chain analysis consists of three steps of identify, draw conclusion and translateinto strategic action.

17.When farmer looses the fertility of the land, it is biggest weakness for the upcomingoutput.

18.Certain factors in a companys external environment pose threats to its profitability andcompetitive well being.


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19.The value chain activities are differing among the rival companies in an industry.20.Benchmarking entails how different company performs various value chain activities.

Fill in the blanks:1. The goal of SWOT analysis is to ____________ the organizations opportunities and

strengths while _____________ its threats and _________________ its weaknesses.2. SWOT analysis is an evaluation of the organizations______________ strengths and

weaknesses and its ____________________ opportunities and threats.

3. ______________________are the sources of capabilities, some of which leads to thedevelopment of the firms core competences or its competitive advantage.

4. ____________ is measured by a products performance characteristics and by itsattributes for which customers are willing to pay.

5. Resources are the basic component of internal analysis leading to __________________and ________________________.

6. _____________________ are assets that can be seen and quantified while_____________________assets that are rooted deeply in the firms history.

7. Knowledge, trust, managerial capability and organizational routines are the__________________________ resources.

8. Effective use of logistics management techniques would leads to __________________functional area capability.

9. Marketing capabilities are _______________ and __________________.10._________________ helps a firm in neutralizing threats or exploit opportunity.11.______________ are capabilities that few, that if, any competitor possess.12.Organization culture is a set of _______________ that are shared by ________________

in the organization.

13.__________________________ are involved with a products physical creation, its saleand distribution to buyers and its services after the sale.

14._______________________ allows the firm to understand the part of its operations thatcreate value and those that do not.

15.The value chain shows how a product moves from the ________________ stageto______________________.

16.Online sales channels, including websites and market places are the_____________________ related value chain activities.

17.___________________________ is the purchase of a value creating activity from theexternal suppliers.

18.Firms must outsource only activities where they cannot _______________________ orwhere they are at ______________________ compared to competitors19.______________________ Capabilities do not have any strategic equivalents.

20.Carbonated soft drinks have _______________ degree of substitution effect.


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MODULE - 3

Short Question

1.

What do you mean by strategy formulation?2. Describe three phases of strategic management process and explain where strategicformulation lies.

3. Integrated hierarchy of strategic formulation Explain.4. Give the 2 major differentiating points between corporate level strategy and business

level strategy.

5. What is LOB (Line of Business)?6. Enlist major strategy components at corporate level decision making.7. Define the term Diversification.8. What is market niche?9. Give five companies that have revamped their value chains to reduce the costs.10. What are the key points where the firm can achieve low cost leadership successfully?11. What is portfolio strategy and parenting strategy at corporate level?12. Define is BCG matrix and GE multi factor matrix.13. What is parenting strategy? What are the major decisional elements of this strategy?14. Enlist various international strategies.15. What do you mean by internationalization of business strategy?16. Differentiate between merger and acquisition.17. Why firm wants to expand their business in international market?18. Explain the curvilinear relationship between diversification and performance.19. What are the major reasons for acquisition?20. What is restructuring? Discuss upon three major restructuring strategies.Long Question1. Define Strategic Formulation in your words. Explain business level strategy in detail.2. What is the relationship between a firms customers and its business level strategy in

terms of whom, what and how? Why this relationship is important?

3. What are the differences among the cost leadership, differentiation, focused costleadership, focused differentiation and integrated cost leadership business level

strategies?

4. What are the specific risks associated with using each business level strategy?5. What do you mean by corporate level strategy? What are the major initiatives that

require for it?

6. Define growth strategy. Explain each growth strategies in detail.7. What is Low cost producer and explain the characteristics of that firm. Identify five

companies which are pursuing this strategy.


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8. Managers at different companies have a slightly different spin on future marketconditions Explain this by taking two valuable parameter that is companys market

target and type of competitive advantage being pursued by the firm.

9. Explain low cost provide strategy. What are the two major ways for achieving a costadvantage?

10.When low cost provider strategy works best? Explain the pitfalls of low cost providerstrategy.

11.What is corporate level strategy? Why it is important for any business.12.What are the different levels of diversification of firms can pursue by using different

corporate level strategies?

13.What are three reasons firms choose to diversify their operations? And how firms docreate value when using a related diversification strategy?

14.What are the two ways to obtain financial economies when using an unrelateddiversification strategy?

15.Explain the term diversification in your own words. What are the incentives andresources encourage diversification?

16.What do you mean by merger and acquisition? Why are acquisition strategies popular inmany firms competing in the global economy?

17.What are the traditional and emerging motives that cause firms to expandinternationally? Also discuss on primary benefits of an international strategy.

18.What five modes of international expansion are available, and what is the normalsequence of their use?

19.What are the risks of international diversification? What are the challenges of managingmultinational firms?

20.Identify 3 firms of your choice and write down the international strategies they haveadopted.

Multiple Choice Questions

1. Strategic formulation includes which of the following elements?a) Resource allocation to define the organization relationship with its environmentb) Guidelines and procedures to be used in carrying out a strategyc) A mission statement which encapsulates the philosophy and objectives of the

organization

d) The creation of a business visione) All of the above

2.

Corporate-level strategy addresses which of the following two related issues?a) How to compete in a given business; the application of technologyb) What businesses to compete in; how these businesses can achieve synergyc) How to integrate primary activities; increase shareholder wealthd) How to improve a firm's infrastructure; how to maintain ethical behavior


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3. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials byproducing much of its own polypropylene fiber, a key input into its manufacturing

process. This is an example of

a) Leveraging core competenciesb) Sharing activitiesc) Vertical integrationd) Pooled negotiating power

4. The risks of vertical integration include all of the following excepta) Costs and expenses associated with increased overhead and capital expendituresb) Lack of control over valuable assetsc) Problems associated with unbalanced capacities along the value chaind) Additional administrative costs associated with managing a more complex set of

activities

5. A firm should consider vertical integration whena) The competitive situation is highly volatileb) b. Customer needs are evolvingc) c. The firm's suppliers willingly cooperate with the firmd) d. The firm's suppliers of raw materials are often unable to maintain quality

standards

6. __________ is when a firm's corporate office helps subsidiaries make wise choices intheir own acquisitions, divestures, and new ventures.

a) Parentingb) Restructuringc) Leveraging core competenciesd) Increasing market power

7.

__________ is when a firm tries to find and acquire either poorly performing firms Withunrealized potential or firms in industries on the threshold of significant, positive

change.

a) Parentingb) Restructuringc) Leveraging core competenciesd) Sharing activities

8. Portfolio management matrices are applied to what level of strategy?a) Departmental levelb) Business levelc) Corporate leveld) International level


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9. When using a BCG matrix, a business that currently holds a large market share in arapidly growing market and that has minimal or negative cash flow would be known as a

a) Cowb) Dogc) Problem childd) Star

10.Porter's generic strategies area) Low price, differentiation, focusb) Cost leadership, differentiation, cost focus, focus differentiationc) Price leadership, differentiation, focusd) Low cost, differentiation, focus differentiation

11.A differentiation strategy offers which of the following..?a) A broad segment something uniqueb) A narrow segment something uniquec) A broad segment something more expensived)

A narrow segment something more expensive

12.A cement producer would be advised to follow which of the following internationalstrategies?

a) A Global strategyb) A Transnational strategyc) A local strategyd) None of these

13.If pressures to adapt to local tastes are high and pressures to lower costs are low, a firmshould follow which international strategy?

a) Internationalb) Globalc) Multi-domesticd) Transnational

14.The three objectives of the transnational organization are efficiency, responsiveness and:a) Flexibilityb) Qualityc) Adaptabilityd) Learning

15.Which of the followings are three major components of business units strategy?a) mission, business, and SBU goalsb) marketing, advertising and pricing objectivesc) mission, business unit goals, and competenciesd) business mission, department mission, and daily planse) competencies, abilities, and problem statements


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16.Cash cows are SBU's that typically generatea) problems for product managersb) paper losses in the long runc) large awareness levels but few salesd) a lot of competitione) large amounts of cash

17.Which of the following are mechanisms to expanding the total market?a) More overall general usage of productb) New users for existing products.c) New uses for existing products.d) All of the above.e) None of the above.

18.The goals of international marketing are toa) Expand business activities abroad.b) Eliminate competition in international markets.c) Gain market share and increase profit.d) Create and retain customers in global markets.

19.Being a global organization meansa) Customizing the product range for each segment in part.b) Creating standardized products for homogeneous markets.c) Creating both standardized and customized products.d) Any of the above.

20.The form of a strategic alliance is likely to be influenced bya) The market, capabilities and stakeholder expectationsb) The power of each partnerc)

CEO discussions on the golf course

d) The legal frameworks in which the alliance is establishedTrue FALSE

1. Strategic formulation is supplies the various strategies to accomplish the necessarymission and objectives of the organization.

2. Strategic implementation is aiming at modifying the current objectives and strategies inways to make organization successful.

3. Functional level strategies are very essential for every business which are more specificthan corporate level strategies.

4. Initiating actions to boost the combined performance of the businesses the company isthe objectives of corporate level strategies.

5. A firm pursuing low level of diversification uses either a single or a dominant business.6. Level of diversification and business performance has positive relationship.7. When corporate relatedness is low and operational relatedness is low then it is related

linked diversification.

8. The differentiation strategy is an integral set of actions taken to produce goods orservices then customers perceives as being different.

9. IKEA, a global furniture retailer follows focused cost leadership strategy.


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10.Continuous success with the differentiation strategy results when the firm consistentlyupgrades differentiated features.

11.A flexible manufacturing system increases the rigidity of human, physical andinformational resources.

12.Synergy exists when the value created by business working together exceeds the valuethat those same units create working independently.

13. Unrelated diversification is when a company expands into a related industry, onehaving synergy with the company's existing lines of business.

14.Pause strategy refers to the need for an opportunity to rest, digest, and consolidateafter growth or some turbulent events - before continuing a growth strategy.

15.When a company has been unsuccessful in or has none of the strategic alternativesavailable, the only remaining alternative is liquidation.

16.Parenting strategies falls under business level strategies.17.According to porters generic strategies, weather to compete primarily on price or

providing some distinctive points of differentiation.

18.Focused differentiation is a strategy of trying to give customers the best cost/valuecombination, by incorporating key good-or-better product characteristics at a lower cost

than competitors.

19.According to porter, Best cost provider strategy is often temporary and firm needs tochoose accordingly.

20.Cost conscious corporate culture found in best cost provider strategy.Fill in the blanks:

1. __________________________________ strategy establishes investment priorities andmoving more resources in to the most attractive business.

2. LOB stands for _______________________________________-.3. The three sets of recommendations must be internally ________________and fit

together in a mutually supportive manner that forms an

____________________________________of strategy.

4. The purpose of all ______________________________ is to help a company understandand consider changes in its portfolio of businesses, and also to think about allocation of

resources among the different business elements.

5. The BCG Growth-Share Matrix model considers two relatively simple variables like_____________________________ and ____________________________respectively.

6. ____________________________________focus on how to compete successfully ineach of the lines of business the company has chosen to engage in.

7.

High costs and low control is the characteristics of _______________________ as achoice of entry in global market.

8. The firm uses a __________________________strategy to offer standardized productsacross country markets.

9. A transnational strategy is an international strategy through which the firm seeks toachieve both ___________________________ and ________________________.

10._____________________________ strategy in which the country manager have theautonomy to customize the firms product.


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11.______________________using domestic plants as a production base goods to foreignmarket is an excellent initial strategy.

12.A company is said to be _________________ when it sells its goods in foreign marketsat prices that are well below at which it sells domestically.

13.Business risk is scattered over a set of truly diverse industries is the advantage for______________________________strategy.

14.__________________strategies aimed at retrenching to a narrower diversification base.15.Vertical integration exists when a company produces its ______________________ or

its ___________________________.

16.____________________________strategy through which one firm buys a controlling or100% interest in another firm.

17._______________________is a strategy through which two firms agrees to integratetheir operations on a relatively coequal basis.

18.The acquisition of a firm in a highly related industry is referred to as a__________________________________.

19.Increased market size, Economies of scale learning, location advantages and increasingROI are the reasons for ________________________________________.

20.__________________has characteristics of low cost, low risk, little control and lowreturn as a global market entry choice.

21.International diversification carries majorly two risks that is _____________________and _____________________________.


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MODULE - 4

Short Question

1.

Enlists the principal of managerial components of the strategy execution process.2. What are the various nuances of strategic implementation?3. What do you mean by operationalsing the strategy?4. Explain three components of building an organization capable of proficient strategy

execution.

5. Differentiate between vertical and horizontal fit.6. What do functional strategies and policies essentially deal with?7. Why does the need for functional plan and policies arise?8. What is operational implementation and operational effectiveness?9. How well conceived policies and procedures aid or facilitate strategic execution?10. Explain organization structure and control in brief.11. What does it mean to say that strategy and structure have a reciprocal relationship?12. Draw a strategic business unit form of the multi divisional structure for implementing a

related linked strategy.

13. What is strategic leadership? In what ways are top executives considered importantresources for an organization?

14. Why is change management different than other recent management revolution?15. What are the most important things to do to get my managers and supervisors

supporting change management?

16. What is the ROI of change management?17. What role does leadership play for a manager? How have you demonstrated this with

your managers?18. Strategic leadership a dynamic balancing act explain.19. How a companys culture can promote better strategy execution?20. Explain strong versus weak cultures.

Long Question

1. What is organization structure and control? What are the difference between strategiccontrol and financial control? What is the importance of this difference?

2. What are the characteristics of functional structures used to implement the costleadership, differentiation and focused business level strategy?

3. What is top management team, and how does it affect the firms performance and itsability to innovate and make effective strategic changes?

4. What is organizational culture? What strategic leaders must do to develop and sustainan effective organizational culture?

5. As a strategic leader, what actions could you take to establish and emphasize ethicalpractices in your firm?


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6. What are the issues involved in development of functional plan and policies? What arethe precaution that should be taken in implementing functional plans and policies?

7. Describe the strategic approaches that Japanese companies have adopted in terms oftotal quality management, zero defect management and continuous improvement.

8. Discuss the ways in which various functional policies and strategies can be integrated.9. What organizational structures are used to implement the multi domestic, global and

transnational international strategies?

10.Why is it important to study organization's culture? How will you study the culture of amanufacturing unit?

11.Compare newer form of organizational structure with the traditional structure.12.Explain the concept of backward linkages in strategy formulation and implementation.13.What is strategic implementation? How far is it different from strategy formulation?14.What are the additional five managerial actions that promote the success of a

companys strategic execution efforts?

15.Do internets search on six sigma quality program and identify at least three companiesthat offer six sigma training and also find the lists of companies that have implementedsix sigma programs in their pursuit of operational excellence.

16.Do an internet search to identify at least five companies that have experienced a failureof strategic leadership on the part of the CEO.

17.Dell inc. has been listed as one of Fortunes most admiring companies for several years.What is your assessment of the companys extensive discussion of accountability,

concern for the environment, and community involvement?

18.Explain in detail the evolutionary pattern of strategy and organizational structure.19.Discuss three important structural characteristics in detail.20. Compare characteristics of a structures necessary to implements the related

constrained, related linked and unrelated diversification.Multiple Choice Questions

1. Select a distinguishing feature between divisional and functional structure?a) Both functional departments and divisional process departments are accountable

for profits or revenues.

b) Functional departments are not accountable for profits or revenues, whereasdivisional process departments are evaluated on these criteria.

c) None of functional departments and divisional process departments is accountablefor profits or revenues.

d)

Both the structures are same.2. Strategy formulation is primarily a _______________ process and strategyimplementation is primarily a _____________ process.

a) intellectual, operationalb) operational, intellectualc) intelligent; interimd) intellectual; intellectual


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3. When strategic Management is ineffective and operational management is efficient,organization will:

a) Thrive.b) Survive.c) Die Slowly.d) Die Quickly.

4. When a set of product groups are superimposed across functional departments, thiscreates a ________ type of organization design.

a) Matrixb) M-formc) U-formd) Virtual

5. The importance of leadership as a source of organizational culture was stressed bya) Scheinb) Davisc) Selznickd) Warren Bennis

6. Some of the more significant sources of an organizations culture include all but one?a) Stakeholdersb) Competitorsc) Professional associationsd) Strategic issues

7. Organizational culture is seen to have tremendous impact on all but one of thefollowing

a) Commitment to distinctive ideologyb)

Motivation

c) Performanced) Productivity

8. Individual autonomy, structure, reward orientation, consideration and conflicts are thefive characteristics tapping the essence of organizations

a) Powerb) Culturec) Sized) Resources

9. Culture is so important to an organization because it helps toa) Attract customersb) Retain customersc) Cope with the environmentd) Create leaders


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10.A leader's success will depend, to a great extent, upon which of the following... \a) Practicing organizational cultureb) Communicating OC

c) Handing over OC

d) Understanding OC

11.Which of the following is a change lever?a) Employee acquisition and retentionb) Employee ownershipc) The market and business modelsd) Project managemente) None of the above

12.A leadership style in managing change where the management team takes thedecisions, with the employees generally trusting them to do so and generally informed.

a) Coerciveb) Directivec) Consultatived) Collaborative

13.When there is a fit between the goals of the organization and the goals of individuals,this is known as

a) Goal fitb) Goal congruencec) Goal hierarchy fitd) Goal coordination

14.Which of the following is correct about organizational structure?a) An organization's structure would be expected to evolve as it grew larger and more

diverseb) Every organization starts out with a simple structure, then moves to a functional

structure before becoming divisionalised

c) Network structures are superior to functional onesd) Organizational performance will suffer if the structure is not stable

15.Goffee and Jones use two variables to classify organizational cultures. These area) Sociability and Synergyb) Cohesion and Synergyc) Sociability and Solidarityd) Solidarity and Cohesion

16.Which of the following triggers for change is likely to be most easily accepted?a) A change in stakeholder demandsb) A decline in performancec) A change in the business environmentd) A change in management


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17.When an individual exhibits 'discarding' behavior in reaction to organizational changethey

a) Start to sell the benefits of the change to other employeesb) Acknowledge that some of the old ways had flaws and accept that the new way

needs to be adopted

c) Cling to the old way of doing things although they recognize that a change hashappened

d) Are in total denial that any change has happened18.Two types of activity that might be expected to occur close to the beginning of most

successful change programmes are

a) 'Mergers' and 'acquisitions'b) 'Empowering and building competence and confidence' and 'Spreading and

consolidating change'

c) 'Institutionalizing the new routines' and 'preparing for the next round of change'd) 'Building a sense of need, urgency, and commitment' and 'Developing and

communicating a shared vision of change'19.A change agent can be defined as

a) A top management expert who knows all parts of the organizationb) External consultants who analyze the organization and recommend the changes that

need to take place

c) The person or group in an organization that people try to influence in order to gettheir personal concerns addressed within the organization's strategy

d) A person or group of people who take on the role of promoting change within anorganization

20.Buchanan and Boddy suggest fifteen roles for a change agent which they have classifiedinto five 'clusters'. These are goals, roles, communication, negotiation anda) Managing upb) Managing downc) Managing outwardd) Managing inward

True FALSE1. The funding requirement of a new strategy must drive how capital allocations are made

and the size of each units budgets.

2. Well conceived policies and procedures aids strategy execution.3. Organizational climate specifies the firms formal reporting relationship, procedures,

controls and authority and decision making processes.4. A firms strategy specifies the work to be done and how to do it, given the firmsstrategy and strategies.

5. Strategic controls guide the use of strategy, indicate how to compare actual results, andsuggest corrective actions.

6. Financial controls are largely subjective criteria intends to verify that the firm is usingappropriate strategies for the conditions in the external environment.

7. Strategy and its control have a reciprocal relationship.


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8. The multi divisional structure consists of operating division, each representing aseparate business or profit center.

9. The worldwide product divisional structure supports use of the global strategy.10.The competitive form is a structure drawing characteristics and mechanisms from both

worldwide geographic area and the worldwide product divisional structure.

11.The ability to attract and then manage human capital may be the most critical of thestrategic leaders skills.

12.The primary responsibility of effective leadership rests at any level of the level oforganization structure.

13.Tolerance of ambiguity, commitment to the firm and degree of self confidence is thecharacteristics of the organization as a whole.

14.Determining the strategic direction involves specifying the image and character the firmseeks to develop over a time.

15.Effective strategic leadership is no more interested in sustaining organizational culture.16.Shareholders capital involves relationship inside and outside the firm that help the firm

accomplish task and create value for customers and society.17.Organizational culture is composed of the key individuals who are responsible for

selecting and implementing the complex ideologies.

18.Structural modifications entail the creation or disbandment of departments ormanagerial position.

19.Business level strategy deals with a relatively restricted plan which provides theobjectives for specific functions for the allocation of resources.

20.The process of developing functional plan and policies may range from the formal to theinformal.

Fill in the blanks:

1. ____________________________specifies the firms formal reporting relationships,procedures, controls and authority and decision making processes.

2. A companys ___________________________________ can either assist the cause ofgood strategy execution or be a barrier.

3. Policies and procedures promote the creation of a ________________________ thatfacilitate good strategic execution.

4. _________________________________provides the opportunity to explore tocompetitive possibilities and then allocate resources to activities.

5. BMW stands for_________________________________________.6. ____________________________________guide the use of strategy, indicate how to

compare actual results with expected results.7. _______________________are largely subjective criteria intended to verify that thefirm is using appropriate strategies for the conditions in the environment.

8. __________________________are largely objective criteria used to measure the firmsperformance against previously established quantitative standards.

9. _______________________________is a structure in which the owner-manager makesall major decisions and monitors all activities.

10.________________________________consists of operating divisions, each representing


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a separate business or profit center.

11.This structure allows for functional specialization, thereby facilitating active sharing ofknowledge within each _______________________________.

12.In the ______________________________________________, decision makingauthority is centralized in the world wide divisions headquarters to coordinate and

integrate decisions and actions.

13.______________________________is taking entrepreneurial actions using a strategicperspective.

14._____________________is ability to anticipate, envisions, maintain flexibility andempower others to create strategic change as necessary.

15.The ability to attract and then manage human capital may be the most critical of____________________________________.

16.The top management team is composed of the key individuals who are responsible for______________________and ______________________the firms strategy.

17._____________________________________is composed of individuals with differentfunctional backgrounds, experience and educations.

18._____________________________refers to the knowledge and skills of a firms entireworkforce.

19.At McDonalds, the firm us trying to build an _____________________________, whichsuggests that individuals can begin their career as a teenager.

20.____________________________________is defined as a complex set of ideologies,symbols, and core values that are shared throughout the firm and influence the way

business is conducted.


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MODULE - 5

Short Question

1.

What is the basic nature of strategic evaluation?2. Differentiate between strategic control and operational control?3. Explain the basic approach used in strategic control.4. How can strategic control help in resource allocation?5. Companies should evaluate performance on the basis of a combination ofquantitative

and qualitative criteria. Why?

6. What issues are important in measuring performance?7. In what different forms may deviation between actual performance and standards

occur? How can they be checked?

8. How strategists initiate corrective actions?9. How can a memorandum of understanding are used as an evaluation technique for

performance of public enterprise?10. What do we mean by business ethics? Where do ethical standards come from?11. Differentiate between ethical universalism and ethical relativism.12. Ethical relativism equates to multiple set of ethical standards explain.13. What do you by moral? Explain three categories of management morality.14. Do companies strategies need to be ethical? Explain.15. Company culture that puts the bottom line ahead of ethical behavior Explain.16. What do we mean by social responsibility?17. What is the relationship between strategy and social responsibility?18. How much attention to social responsibility is enough for any business organization?19. What do you mean by the damage control approach?20. What is corporate governance? Why it is necessary to control managers decisions?

Long Question

1. Write a descriptive note on nature and importance of strategic evaluation.2. How will a comprehensive system of strategic control operate in a large sized business

organization?

3. Describe the different element in detail that constitutes the evaluation process foroperational control.

4. Write a short note on: evaluation techniques for strategic control.5. Consider the case of any service institution of your choice, and suggests how a system of

operational control will work in such an institution?

6. Describe and explain the application of the techniques for strategic control.7. How is performance evaluation done in public enterprises in India?8. Propose a system to be adopted for evaluating the performance of your B school.

Identify the parts that relate to strategic and operational control respectively.

9. Define the term balance scorecard. Explain four key performance measures of balance


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scorecard in detail.

10.Where do ethical standards come from? Are they universe or dependent on local normsand situational circumstances?

11.Explain integrative social contracts theory in detail.12.What are the drivers of unethical strategies and business behavior? Explain each in

detail.

13.What is companys ethical conduct? Describe and discuss four approaches to manage acompanys ethical conduct.

14.Define corporate governance in your own words. What factors account for theconsiderable amount of attention corporate governance receives from several parties?

15.What is an agency relationship? What is managerial opportunism? What assumptionsdo owners of modern corporations make about managers as agents?

16.How can corporate governance foster ethical strategic decisions and behaviors on thepart of managers as an agent?

17.What is the nature of corporate governance in Germany and Japan as well as inemerging economies?

18.How is each of three internal governance mechanisms used to align the interests ofmanagerial agents with those of the firms owners?

19.What is the market for corporate control? What conditions generally cause this externalgovernance mechanism to become active?

20.Explain five components of socially responsible business behavior in detail.Multiple Choice Questions

1. From the process point of view, which is the best statement of the purpose of control?a) To enable the system to adapt to environmental changesb) To know in advance what is likely to happenc) To minimize change from predetermined standardsd) To ensure that the plan is achievede) To provide information for managers to act

2. Schemes such as the Balanced Scorecard have been proposed to reduce the dominanceof which type of measures?

a) Quantitativeb) Feedbackc) Finance and accountingd) Customer satisfactione)

Productivity and other operations measures3. According to Cadbury (2002), corporate governance is an issue of power and

a) Rightsb) Accountabilityc) Profitd) Appropriability


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4. The OECD argues that corporate governance problems arise becausea) Ownership and control is separatedb) Managers always act in their own self interestc) Profit maximization is the main objective of organizationsd) Stakeholders have differing levels of power

5. An organization that is owned by shareholders but managed by agents on their behalf isconventionally known as the modern:

a) Conglomerateb) Corporationc) Companyd) Firm

6. The term 'asymmetry of information' means information in a corporation isa) Transferable to all stakeholdersb) Not transferable to all stakeholdersc) Not equally transparent to all stakeholdersd) Equally transparent to all stakeholders

7. Where an organization takes into account the effect its strategic decisions have onsociety, this is known as:

a) Corporate governanceb) Business policyc) Business ethicsd) Corporate social responsibility

8. The balanced scorecard approach is a framework for measuring performance based onfour factors. These are 'innovation and learning', 'the customer perspective', 'the

internal perspective' and

a)

The key shareholder perspectiveb) The external perspectivec) The financial perspectived) The helicopter perspective

9. The Balanced Scorecard approach has been criticized for leaving out certain measures.One of these is:

a) Financial measuresb) Employee satisfaction measuresc) Customer satisfaction measuresd) Technological innovation measures

10.How many measures do Kaplan and Norton recommend an organization should includewhen using the balanced scorecard approach?

a) 10-20b) 20-30c) 50-100d) 80-120


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18.Corporate governance isa) The set of mechanisms used to manage the relationship among stakeholdersb) Exists when one or more persons hire the another person for decision makingc) The seeking of self interests with guile.d) None of the above

19.Which of the following is NOT the defense strategy for hostile takeover?a) Poison pillb) Golden parachutec) Litigationd) All of the abovee) None of the above

20.Standstill agreement isa) Lump sum payment that are distributed to a selected group of senior executivesb) Contract between parties in which pursuer agrees not to acquire any more stock of

the target firm

c) Dilution of stock, making it more costly for a bidder to acquired) None of the above

True FALSE

1. Business ethics are basically different from personal ethics.2. Agency theory is same as the stakeholder theory.3. Ethical behavior is not in the long-term interest of businesses.4. Ethical business practice requires, above all else, an active awareness and consideration

of the likely long-term consequence of any action.

5. Premises control serves the purpose of continually testing the assumptions to find outwhether they are still valid or not.

6. Operational control is proactive, continuous questioning of the basic direction ofstrategy.

7. Strategic controls largely focus on external environment.8. The measurement of actual performance and its comparison with standard or budgeted

performance leads to an analysis of variances.

9. Quantitative analysis supplements the qualitative analysis by including those aspectswhich is not feasible to measure on the basis of numbers and figures.

10.Corporate governance is the set of mechanisms used to manage the relationship amongstakeholders and to determine strategic direction.

11.Managerial opportunism exists when one or more persons hire another person orpersons as a decision making.

12.Agency costs are the sum of agent costs, brokers costs and financial loss.13.Typically, stakeholders monitor the managerial decisions and actions of a firm through

the board of director.

14.Shareholders are a group of elected individual whose primary responsibility is to act inthe management best interests.


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15.The firms CEO and other top level managers are outsider board of director members.16.Executive compensation that seeks to align the interests of managers and owners

through salaries and bonuses.

17. If standards are appropriately set and if means are available for measuring performancethen evaluation is fairly easy task.

18.Strategic lead control is aimed at assuring that the assumptions on whose basisstrategies were formulated are still valid.

19.Balance scorecard method is based on the identification of four key performancemeasures of production, external perspective, research and development and

investment perspective.

20.According to the school of ethical relativism, the same standards of whats ethical andwhats unethical resonate with people of most societies.

Fill in the blanks:

1. ___________ refers to meeting the needs of the present without compromising theability of future generations to meet their own needs.

2. ________ involves looking at whether a company's basic strategies are well matched toits opportunities.

3. According to the school of _________________________ different societal cultures andcustoms have divergent values and standards of right and wrong.

4. ___________________________concerns the application of general ethical principlesand standards to the actions and decisions of companies and the conduct of company

personnel.

5. Notions of right and wrong, fair and unfair, moral and immoral, ethical and unethical arepresent in all ______________________________ and individuals.

6. According to___________________________________________, universal ethicalprinciples or norms based on the collective views of multiple cultures and combine to

form a social contract that all individuals in all situations have a duty to observe.

7. _____________________that put the bottom line ahead of ethical behavior.8. The main objective of the damage control approach is to protect against the

__________________________.

9. A companys ______________________________is defined by the specific combinationof socially beneficial activities it opts to supports with its contributions of time, money

and other resources.

10._____________________________is a set of mechanisms used to manage therelationship among stakeholders and to determine strategic direction.11.Although corporate governance reflects company standards, it also collectively reflectscountry_______________________________.

12.There is considerable gap between the time when the strategy is __________________and the time when the strategy is _________________________.

13.Standards of performance act as the ______________________against which the actualperformance is to be compared.

14.BMC stands for _______________________________________.


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15.______________________________forms a core of management control systems andare of four types: revenue, expense, profit and investment centers.

16.___________________________________where the environment is relatively unstable,organizations are required to make strategic jump in order to make significant changes.

17.Strategic control focus on ________________________________ while operationalcontrol focus on ________________________________.

18.Many companies have officially adopted a code of _______________________ and astatement of __________________.

19.Actions to create a work environment that enhances ________________________ foremployees and makes company a great place to work.

20.Companies with diversely good reputations for contributing time and money to thebetterment of __________________ are better able to retain _____________________

compared to companies with tarnished reputations.

Documents

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