Deck 13: Conclusions: Relating Content, Context, and Process

Question 1

In the 1980s and 1990s scholars focused on firms' competencies to explain strategy, leading to the emergence of the resource-based view of the firm.

Answer 1

True

Question 2

In the H&T field, strategic management emerged as a field of study in the mid to late 1980s.

Answer 2

True

Question 3

All schools of thought in the strategic management field emphasize the need for critical consideration of multiple issues and factors when developing and implementing strategies.

Answer 3

True

Question 4

H&T organizations do not need to constantly analyze the external and internal environments once they formulate and implement their strategies.

Question 5

In the 1990's globalization led to strategic alliances as a means of addressing the challenges of operating in different cultures.

Question 6

There is a hierarchical and integrative relationship among the schools of thought in the strategic management field and they are rarely found in their pure form

Question 7

The premise of the "contingency school" is that once formed effective strategies will always promote competitive advantage.

Question 8

In strategic management the context refers to description, selection and justification of a certain strategy (or strategies).

Question 9

For H&T organizations the complexity and variability associated with creating and sustaining competitive advantage is high.

Question 10

The configurational school claims there is ease in achieving a 'fit' between these contradictory tensions, and sustaining this coherence in dynamic and complex situations.

Question 11

Resource development of H&T firms should complement their competitive strategies so that there is alignment between the former and the latter.

Question 12

Sustainable competitive advantage is the result of developing and combing several distinctive competencies that lead to superior financial performance.

Question 13

What results from the process of strategic management?

A) Strategies developed for various levels in the organization
B) Competitive advantage
C) The mission, vision, goals and objectives of an organization
D) All of the above

Question 14

The four main elements of strategic management include all of the following EXCEPT.

A) Extermination
B) Implementation
C) Evaluation
D) Formulation

Question 15

According to which view/school of thought does strategic planning consists of four separate elements: (1) analysis, (2) strategy formulation, (3) strategy implementation and (4) control/ monitoring?

A) Contingency School
B) Learning School
C) Serving School
D) Planning School

Question 16

Which of the following statements is NOT true?

A) Competitive advantage can be attained without core capabilities and distinctive competencies
B) Core capabilities and distinctive competencies are built on tangible and intangible assets
C) Core competencies include an organization's special knowledge, skills and technological know-how
D) Distinctive competencies are the most critical and most distinctive assets an organization possesses

Question 17

The Resource Based View (RBV) suggests that:

A) Competitive advantage comes only from a firm's tangible assets
B) In order for a resource to be competitively advantageous, it must be valuable, rare, inimitable, and non-substitutable
C) The firm must have a global presence
D) None of the above

Question 18

How far the industry characteristics influence development and implementation of business practices?

Question 19

How can we define "core capabilities" for a H&T organization? Give examples.

Question 20

How can we define "distinctive competencies: for a H&T organization? Give examples.

Question 21

How does the resource based view explain developing a completive advantage?

Question 22

How can H&T organization become learning organizations?

Question 23

List 10 important things you have learned throughout this course