TzkisBill
1: If your firm has a particular resource that is valuable, rare…
1: If your firm has a particular resource that is valuable, rare and hard to copy or substitute, and you then organise your business around it, it can be said to be:
A. a White Elephant
B. a Black Dog
C. a Cash Cow
D. an Isolating Mechanism
2: Which one of the following is NOT a risk associated with the differentiation strategy?
A. Price differential for the value becoming too large
B. Narrowing of customer perceptions of the value of product differentiation
C. Counterfeits
D. Mass market fads
3: Which of the following is NOT a way to facilitate Entrepreneurial Orientation at managerial level?:
A. allow organisational processes to include innovation, proactiveness and risk-taking
B. encourage a degree of autonomy
C. empower employees to make decisions within their area of responsibility without having to seek approval on every matter
D. employ people that respond well to micro management
4: Which of the following does NOT occur during the Growth phase of a Product Life Cycle?
A. Sales are on the increase
B. Increasing number of customers and competitors
C. Stable number of competitors
D. Cost per customer is falling
5: In the life-cycle of a product and its adoption curve:
A. Innovators are the first to make a purchase
B. Laggards are the market segment that ‘cross the chasm’
C. Late Majority fuels the high growth in sales
D. Early Adopters and Early Majority lead to falling sales and profit decline
6: Radical Innovation is:
A. incremental improvement
B. combining new technology and new markets
C. innovation that is disruptive to current norms and requires new skill-sets
D. using existing technology to extend the life of a product
7: Which of the following statements does NOT apply to the TERMS Model, when applied to generic business strategy:
A. It prompts us to consider the Risks attached to any decision
B. One of the most important elements in any customer’s decision is Emotion
C. the TERMS Model regards Money as the most important element in the mix
D. It seeks to identify whether there may be something relevant to the current Time that we can capitalise on
8: In Porter’s Generic Business Level Strategy Model, which of the following is false:
A. If we try to appeal to the mass market with low prices, we are said to be adopting a ‘Cost Leadership; strategy
B. If we try to appeal to a niche market with a product that is unique in some way, we will be adopting a focussed differentiation strategy
C. Niche markets are hard to control because the scope is too broad to be competitive
D. If we try to be ‘all things to all people’, i.e. our strategy is neither cost leadership or differentiation and our focus is neither narrow or broad, we are said to be ‘Stuck in the Middle’
9: In a Cross Impact Analysis (CIA) which of the following is false?
A. An Exploit type strategy combines a strength with an opportunity
B. An Avoid type strategy seeks to limit the amount of damage a threat will do to us if it hits us in a weak spot
C. We need a Shine-Up strategy in order to conquer a SWOT that invokes our strengths
D. If we know about a threat that is likely to come at us, we should embark on a Conquer type strategy if we can counter it with a strength
10: A Strategic group within an industry is:
A. two firms that are exactly the same
B. a cluster of firms that share similar operating or marketing strategies
C. two or more firms that provide differentiated customer experiences at the same price point
D. two firms that are totally different
