38 Questions
What is strategic positioning concerned with?
The impact of the external environment, internal resources and competences, and the expectations and influence of stakeholders
What is the purpose of determining an organization's strategic position?
To make strategic choices that need to be made and implemented
What should an organization consider when assessing its strategic position?
The future and whether the current strategy is suitable
What is a key element of strategic positioning?
Identification of management tools
What is the role of leadership in strategic positioning?
To determine the organization's strategic position
What is the relationship between strategic positioning and risk assessment?
Risk assessment is a part of strategic positioning
What is the outcome of strategic positioning?
An understanding of the organization's strategic position
What is the significance of strategic positioning in the strategic management process?
It is a critical part of the process
Which strategy is recommended for the Mini-Mini segment?
Reduce both weaknesses and threats
What is the main purpose of Inbound Logistics?
Receiving, storing, and disseminating inputs
What is the strategy for the Mini-Maxi segment?
Minimize weaknesses and maximize opportunities
What is the name of the segment where the opportunity exists but requires strength where the organization currently has a weakness?
Mini-Maxi
What is the purpose of Operations in Porter's Value Chain Model?
Transforming inputs into outputs
What is the purpose of Outbound Logistics in Porter's Value Chain Model?
Distributing products to customers
What is the strategy for the Maxi-Mini segment?
Use strengths to deflect threats
What is the purpose of Sales and Marketing in Porter's Value Chain Model?
Providing opportunities for customers to buy
What is one advantage of being a first mover in gaining market share?
Capturing significant market share before competitors enter the market
What is a disadvantage of being a first mover?
You pay the costs of educating the market and marketing for other second or third to market companies
What is one benefit of having a brand?
Customers trust your products and services due to consistency
What is one operational and technological advantage of pharmacy services?
Efficiency and Convenience
What is one type of strategic position in pharmacy services?
Operational and technological advantages
What is one example of proprietary products, technology, and abilities or relationships in pharmacy services?
Exclusive Product Offerings
What is one advantage of branding strategy?
It gives customers trust in your products and services
What is one disadvantage of branding strategy?
It is usually expensive
What is the primary focus of the 'Services' component of the value chain?
Providing support to customers through various means
Which of the following activities is NOT a part of the 'Admin. & Infrastructure' component?
Product development and design
What is the primary purpose of the BCG matrix?
To analyze the product portfolio and distinguish between cash generators and cash consumers
What is the characteristic of a 'Cash Cow' in the BCG matrix?
High market share and low growth potential
What is the primary focus of the 'Product/Technology Development' component?
Enhancing the technology of the product or service
What is the primary focus of the 'Procurement' component?
Supporting the procurement of inputs for all activities
What is the primary benefit of the 'Cash Cow' products or divisions?
They generate significant revenue
What is the primary goal of the organization in relation to 'Cash Cow' products or divisions?
To increase their profit and extend their lifetime
What is the role of the mission and vision in the organization as a tree analogy?
They provide the nutrients that feed the tree
What is the purpose of the matrix in the organization as a tree analogy?
To select which projects and products to support
What is the best quadrant in the organization as a tree analogy?
G-G
What are the three key aspects of strategic position?
The external environment, the organization's strategic capability, and culture and ethical values
What is the key to understanding strategic position?
Being aware of the linkages between the three key aspects
What is the outcome of integrating the three key aspects of strategic position?
The creation of value
This quiz covers the concepts of strategic positioning, SWOT analysis, and management tools used in the pharmaceutical industry. It is a part of PHAR 460 course at Lebanese International University's School of Pharmacy.
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