Business & Management Test: Business Strategy

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Questions: 40 | Attempts: 1,282 | Updated: Mar 20, 2023

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Mar 20, 2023

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Feb 16, 2014

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Business & Management Test: Business Strategy

The process of strategic analysis is aided by a number of tools. These tools include:

If we want to assess the product portfolio of a business, we could use:

If a country believes in free trade, which of the following policies is not acceptable?

According to Michael Porter, what are the two main factors which can lead to a significant competitive advantage?

According to Michael Porter, differentiated products will allow companies to:

When companies invest in robotic technology or other machines to reduce costs, this is called:

When two companies merge, they may benefit through bulk purchases and a smaller combined workforce. This is called:

Shell has spent millions of dollars on R&D to allow _________________ away from its original oil and gas business.

Hamel and Prahalad (1990) argued that competitive advantage may be enhanced when a business focuses on developing its:

What is a core product?

Which of the following should be associated with a core competence?

According to Prahalad & Hamel, developing a core competency depends on:

Sony's ability to _____________________ electronic components has led to many core products.

By building up new products for new markets, there will be greater opportunity for ____________ of scale in the manufacture of the core products.

Strategic choice is concerned with:

The process of strategic choice is aided by a number of techniques that include:

Forecasting future market changes is possible by using:

Which business tool can be used to identify growth strategies?

Target setting and ______________________ is an important tool to measure success against competitors.

A _______________ plan is a methodical plan containing details of the organisation's central objectives and strategies to achieve them.

A corporate plan could include

According to the ANSOFF Matrix, increasing sales of existing products in the home market is called:

The value of corporate planning for several years ahead is that senior managers have:

An important benefit of any corporate plan is the control and __________ process.

By preparing a corporate plan, senior managers are forced to consider the organization's:

When a company tries to consider unforeseen events, this is called:

Henry Mintzberg (1994) was critical of corporate plans, because he maintained that strategy often emerges over _______ in response to events, rather than being formally planned.

Which groups would need to know the content of a corporate plan?

Which of the following is a major influence on a corporate plan?

During a recession a business is most likely to:

A company producing income _______________ luxury products may find its corporate plan is most influenced by macro-economic forecasts.

The process of allocating and controlling resources to support the chosen strategies is called:

Strategies to globalize operations include:

A business with a power culture would not consult or communicate with staff affected by

Businesses that operate with a task or ______________ based cultures are more likely to encourage active participation in implementing major strategic change.

In organizations with ___________ cultures, employees may have no agreed set of beliefs and they may take no pride in their work.

In some cultures, it may be acceptable to offer _______________ to obtain a large contract.

The Body Shop almost invented the ______________ culture.

Which of the following companies is most famous for implementing a culture of continuous improvement?

Dell is a company that has experienced rapid organic growth in recent years. Another word for organic is: