Question 1

Strategy is all about:
A) foresight and a holistic view of the firm
B) the short-term objectives of the firm and ways of meeting them
C) defining marketing goals and targets
D) enhancing sales performance

Accepted Answer

Strategy is the long-term plan of action that involves foresight and a holistic view of the firm. It encompasses a range of factors such as the firm's goals, competition, market conditions, and resources to achieve sustainable competitive advantage. It goes beyond short-term goals and is crucial for the firm's growth and success.

Question 2

What makes strategizing necessary?
A) rapid changes in the business landscape
B) more sophisticated organizational structures
C) pressure to innovate
D) all of these

Accepted Answer

Rapid changes in the business landscape, more sophisticated organizational structures, and pressure to innovate all contribute to the need for strategizing. As businesses adapt and evolve, they must devise new strategies to remain competitive and ensure their survival. Additionally, the introduction of new technologies, shifting consumer preferences, and other outside factors create a need for ongoing strategic planning and adaptation.

Question 3

Which of the following was a strategist?
A) Machiavelli
B) Sun-Tzu
C) Herodotus
D) all of these

Accepted Answer

All of these individuals were strategists in their own right. Machiavelli is known for his political strategy, Sun-Tzu for military strategy, and Herodotus, though primarily a historian, discussed strategies in his accounts of historical events.

Question 4

How do modern conceptions of strategy relate to classical conceptions?
A) they are the same
B) there is no relation
C) as legitimations for current views
D) none of these

Accepted Answer

Modern conceptions of strategy often draw on classical conceptions for legitimacy, studying and adapting past successful strategies. However, modern conceptions may also differ and evolve based on changes in technology, society, and other factors.

Question 5

Machiavelli's contribution to strategy suggests that:
A) remaining powerful is the highest priority
B) listening to your employees' needs is of utmost importance
C) delegation of authority enhances team performance
D) none of these

Accepted Answer

Machiavelli's contribution to strategy emphasizes that maintaining power and control is the highest priority for leaders, even if it requires tactics that may be deemed immoral or unethical. He believed that leaders should use whatever means necessary to gain and maintain power, including deception, manipulation, and violence. Therefore, option A is the correct answer. Option B and C do not align with Machiavelli's contribution to strategy.

Question 6

Based on Clausewitz's arguments, we can infer that:
A) Strategy is based on a pre-determined wisdom and rational thinking.
B) Strategy unfolds sequentially yet rationally.
C) Strategy has a non-rationalistic element in it, induced by passions and feelings.
D) Both strategy is based on a pre-determined wisdom and rational thinking and strategy unfolds sequentially yet rationally.

Accepted Answer

Clausewitz argues that strategy involves a non-rationalistic element, which is induced by passions and feelings. He believed that warfare was not solely based on rational thinking and logic but also involved human emotions and unpredictable factors.

Question 7

The establishment of modern-day strategy as a discipline can be traced back to:
A) the 1960-70s, drawn from economics
B) the industrial revolution in north-west England
C) the 1980s, with the advent of large US multinational corporations
D) the 1930s, drawn from social psychology

Accepted Answer

Modern-day strategy as a discipline can be traced back to the 1960-70s, when scholars started studying businesses as whole systems rather than just looking at specific functions. This new approach drew heavily from economic theories and principles, and marked the beginning of the field of strategic management.

Question 8

Modern conceptions of strategy as planning played a major role in:
A) the First World War
B) the Peloponnesian Wars
C) the Second World War
D) the Vietnam War

Accepted Answer

The modern conceptions of strategy as planning emerged during the Second World War, particularly through the development of the total war concept and the use of strategic planning in military operations. This led to the widespread adoption of strategic planning in various areas, including business, politics, and other fields.

Question 9

Which of the following was a crucible of early strategy thinking?
A) Marks & Spencer's
B) Zara
C) West Point
D) Ancient Greece

Accepted Answer

West Point, the United States Military Academy, has been a significant center for the development and teaching of military strategy and leadership principles.

Question 10

In Cummings and Daellenbach's study, reviewing papers in Long Range Planning, what are the recurring themes that constitute the baseline of strategy research in the last 40 years?
A) corporate
B) technology
C) mergers and acquisitions
D) all of these

Accepted Answer

Cummings and Daellenbach identified that the recurring themes in strategy research over the past 40 years include corporate strategy, technology, and mergers and acquisitions. Therefore, the best choice is D, all of these.

Question 11

According to Cummings and Daellenbach's study, reviewing papers in Long Range Planning what is NOT part of the emerging trends in the future of strategy?
A) Strategists are becoming more politically astute.
B) Strategists are becoming more sensitive to environmental conservation issues.
C) Strategists are becoming more aesthetically aware.
D) Case studies will flourish, as opposed to prescriptions.

Accepted Answer

The answer of According to Cummings and Daellenbach's study, reviewing...

Question 12

Chandler is famous for:
A) seeing strategy as leading to structure
B) seeing structure as leading to strategy
C) seeing strategy and structure as co-evolving
D) none of these

Accepted Answer

Chandler is famous for his assertion that strategy leads to structure, encapsulated in his seminal work where he argued that an organization's strategy will determine its structure.

Question 13

Which of the following does NOT feature in Igor Ansoff's levels of action towards planning?
A) operational
B) inter-organizational
C) administrative
D) strategic

Accepted Answer

The four levels of action towards planning as defined by Igor Ansoff are operational, administrative, strategic, and policies. Inter-organizational is not one of them.

Question 14

A main feature of Ansoff's logic is that strategy is the exclusive territory of:
A) marketing managers
B) top management
C) sales managers
D) the founder of the company

Accepted Answer

Ansoff's logic suggests that strategy is the responsibility of top management, not exclusively limited to marketing, sales or a single founder. Top management is accountable for analyzing external market conditions, identifying internal strengths and weaknesses, and deciding on firm-wide objectives, and thus is best positioned to develop and implement strategies.

Question 15

A definition of the firm following Edith Penrose focuses on the role of:
A) technology
B) capital
C) resources
D) network

Accepted Answer

According to Edith Penrose, the main role of a firm is to manage and coordinate its resources in order to create value and produce goods or services. These resources can include tangible assets such as equipment and facilities, but also intangible assets such as knowledge, skills, and relationships. Therefore, the correct choice is C, resources.

Question 16

Sustained competitive advantage depends on firms developing unique combinations of ______, providing competencies that allow for flexible development in an uncertain and changing environment.
A) resources
B) capital
C) technologies
D) people

Accepted Answer

Sustained competitive advantage is achieved through unique combinations of resources that enable a firm to adapt and innovate in a changing environment, rather than solely through capital, technologies, or people.

Question 17

Which of the following themes in strategy has/have been influenced by Penrose?
A) dynamic capabilities
B) resource-based view
C) knowledge-based perspectives on strategy
D) all of these

Accepted Answer

Penrose's work has been influential in shaping all of the above themes in strategy, namely dynamic capabilities, resource-based view, and knowledge-based perspectives on strategy. Penrose's focus on the importance of resources and firm-specific knowledge in shaping a firm's strategies and capabilities lies at the heart of all these themes.

Question 18

According to Michael Porter, firm profitability is dependent on ______.
A) industry structure
B) people
C) the initial capital employed
D) the economy

Accepted Answer

According to Michael Porter's five forces model, firm profitability is largely determined by the level of competition in the industry and the bargaining power of suppliers and buyers. Therefore, the answer is industry structure, which is represented by the five competitive forces. People, initial capital employed, and the economy may all have some impact on firm profitability, but they are not the primary drivers according to Porter's model.

Question 19

With which of the following would you associate these words: 'the environment determines success, not the resources controlled'?
A) Penrose
B) Machiavelli
C) Pericles
D) Porter

Accepted Answer

Porter is known for his theories on competitive advantage and the importance of the external environment in determining business success.

Question 20

A behavioural perspective on strategy argues that ______ influence the unfolding of strategy.
A) cognitive processes of bounded rationality
B) rapid changes and external phenomena
C) both cognitive processes of bounded rationality and rapid changes and external phenomena
D) none of these

Accepted Answer

The answer of A behavioural perspective on strategy argues that...

Quiz 1: Strategy: Theory Practice an Introduction

Strategy is all about:

What makes strategizing necessary?

Which of the following was a strategist?

How do modern conceptions of strategy relate to classical conceptions?

Machiavelli's contribution to strategy suggests that:

Based on Clausewitz's arguments, we can infer that:

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

Modern conceptions of strategy as planning played a major role in:

Which of the following was a crucible of early strategy thinking?

In Cummings and Daellenbach's study, reviewing papers in Long Range Planning, what are the recurring themes that constitute the baseline of strategy research in the last 40 years?

According to Cummings and Daellenbach's study, reviewing papers in Long Range Planning what is NOT part of the emerging trends in the future of strategy?

Chandler is famous for:

Which of the following does NOT feature in Igor Ansoff's levels of action towards planning?

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

A definition of the firm following Edith Penrose focuses on the role of:

Sustained competitive advantage depends on firms developing unique combinations of ______, providing competencies that allow for flexible development in an uncertain and changing environment.

Which of the following themes in strategy has/have been influenced by Penrose?

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

With which of the following would you associate these words: 'the environment determines success, not the resources controlled'?

A behavioural perspective on strategy argues that ______ influence the unfolding of strategy.