Question 1

The question,'How do we compete?' concerns _____________________________ (two words)strategy.

Accepted Answer

The answer of The question,'How do we compete?' concerns _____________________________...

Question 2

____________ are becoming increasingly popular as organisations in all industries join with other organisations to promote innovation,expand markets and pursue joint goals.

Accepted Answer

Cooperative strategies involve collaboration between organizations to achieve mutual goals. This aligns with the statement in the question about organizations joining together to promote innovation, expand markets, and pursue joint goals. Joint ventures, differentiation strategies, and cost leadership strategies may also be used in these cooperative efforts, but they are not exclusive to this type of strategy.

Question 3

A core competency exists when an organisation:

Accepted Answer

A core competency is a unique and valuable skill or ability that sets an organization apart from its competitors and allows it to create superior value. It is not related to profits, short-term advantages, outsourcing, or global opportunities.

Question 4

The ability to leverage and develop more from the organisation's existing assets,capabilities and core competencies in a way that will provide a sustained competitive advantage is known as a:

Accepted Answer

The ability to leverage and develop more from the organisation's existing assets, capabilities and core competencies in a way that will provide a sustained competitive advantage is known as dynamic capability. Dynamic capability refers to an organisation's ability to adapt and innovate in response to changes in its environment. It involves developing new resources and capabilities while leveraging existing ones, which allows an organisation to maintain a competitive advantage over time.

Question 5

A(n)____________ refers to any capability to leverage and develop more from the organisation's existing assets in a way that will provide it with a sustained competitive advantage.

Accepted Answer

Dynamic capability refers to the ability of an organization to adapt, innovate, and learn from its past experiences to leverage and develop existing assets in a way that provides it with a sustained competitive advantage. It allows the organization to respond to changes in the market and exploit new opportunities effectively.

Question 6

A business activity that an organisation does particularly well relative to its competition is known as a(n)______________________(two words).

Accepted Answer

The answer of A business activity that an organisation does...

Question 7

A(n)__________ has a unique business mission,product line,competitors and markets relative to other SBUs in the organisation.

Accepted Answer

The statement refers to a strategic business unit (SBU), which is a distinct unit within an organization that has its own unique mission, product line, competitors, and markets. Therefore, the answer is E - strategic business unit. The other options - cash cow, BCG matrix, internal strength, and external opportunity - are not applicable to the given statement.

Question 8

The increase in customer preference for healthy eating over the past ten years has presented a threat to the growth of Coca Cola's soft drink business.Which of Porter's 'five forces' would you attribute this change in preference?

Accepted Answer

The increase in customer preference for healthy eating has led to a growing availability and popularity of substitute products to Coca Cola's soft drinks, such as bottled water, juices, and teas. This is a clear example of the "Threat of substitute products" force in Porter's five forces analysis.

Question 9

The __________________________________ (three words)includes a scan of the organisation's internal and external environments and identifies strategic factors that might require change.

Accepted Answer

The answer of The __________________________________ (three words)includes a scan of...

Question 10

____________________ (two words)is the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organisation and its environment so as to achieve organisational goals.

Accepted Answer

The answer of ____________________ (two words)is the set of decisions...

Question 11

A plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organisation attain its goals is known as its____________.

Accepted Answer

The answer of A plan of action that prescribes resource...

Question 12

_____________ represents a situation where an organisation's parts interact to produce a joint effect which is greater than the parts could achieve acting independently.

Accepted Answer

The answer of _____________ represents a situation where an organisation's...

Question 13

Each of the following is one of the forces affecting industry competition,except:

Accepted Answer

Diversification is not one of the five forces affecting industry competition. The five forces are the threat of new entrants, the power of buyers, the power of suppliers, the threat of substitute products, and the intensity of competitive rivalry.

Question 14

A pure _____________ strategy is difficult to achieve,because one goal requires close global coordination while the other goal requires local flexibility.

Accepted Answer

A transnational strategy is difficult to achieve because it aims to combine the benefits of global coordination (to achieve efficiency) and local flexibility (to be responsive to local markets), which are challenging to balance simultaneously.

Question 15

The stage of strategic management that involves use of managerial and organisational tools to direct resources towards achieving strategic outcomes is known as ___________________ (two words).

Accepted Answer

The answer of The stage of strategic management that involves...

Question 16

A(n)_________________( two words)is a specific segment of a mass-market that an organisation wishes to target specifically and more effectively than its competitors are able to.

Accepted Answer

The answer of A(n)_________________( two words)is a specific segment of...

Question 17

The question,'What business are we in?' concerns ___________________________ (two words)strategy.

Accepted Answer

The answer of The question,'What business are we in?' concerns...

Question 18

The question,'How do we support the business-level competitive strategy?' concerns ______________________________________ (two words)strategy.

Accepted Answer

The answer of The question,'How do we support the business-level...

Question 19

The stage of strategic management that involves the planning and decision making that lead to the establishment of the organisation's goals and of a specific strategic plan is known as _____________________ (two words).

Accepted Answer