Strategic Group Mapping in Strategic Management
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Questions and Answers

According to the I/O model, what enforces demands and restrictions on organizations?

  • Internal environment
  • External environment (correct)
  • Economic environment
  • Technological environment
  • What is one of the main assumptions of the I/O model regarding strategically pertinent resources?

  • They are unique to each organization
  • They are immobile across organizations (correct)
  • They are easily replicated by competitors
  • They have no impact on competitive advantage
  • Which assumption of the I/O model implies that companies within an industry will tend to use similar strategies?

  • Assumption 2 (correct)
  • Assumption 1
  • Assumption 4
  • Assumption 3
  • What does the I/O model assert about major differences in strategically pertinent resources among companies in an industry?

    <p>They are likely to become extinct due to resource mobility</p> Signup and view all the answers

    What is emphasized as important for protecting and maintaining a competitive advantage?

    <p>Understanding and combining external and internal factors</p> Signup and view all the answers

    In the I/O model, what is the assumed character of decision-makers in organizations?

    <p>Logical and devoted to the company's best interests</p> Signup and view all the answers

    What are the five components that an organization is composed of according to the text?

    <p>Competitors, customers, suppliers, regulators, strategic partners</p> Signup and view all the answers

    Which group is identified as having a significant influence on the policies of an organization?

    <p>Competitors</p> Signup and view all the answers

    What is the primary goal of every organization as mentioned in the text?

    <p>Satisfying customers</p> Signup and view all the answers

    Which company has penetrated over 65% share of the hamburger market in the Philippines?

    <p>Jollibee</p> Signup and view all the answers

    What keeps a company alive and sound according to the text?

    <p>Customer purchases</p> Signup and view all the answers

    What aspect attracts kids to Jollibee according to the text?

    <p>In-store play activities and appealing characters</p> Signup and view all the answers

    What is a strategic group in strategic management?

    <p>A group of companies with similar business models or strategies</p> Signup and view all the answers

    Who coined the term 'strategic group' in 1972?

    <p>Hunt</p> Signup and view all the answers

    What is the purpose of strategic group mapping?

    <p>To analyze a firm's position within the industry</p> Signup and view all the answers

    Which of the following is NOT a major step in constructing a strategic group map?

    <p>Setting random areas without relevance</p> Signup and view all the answers

    What does the task environment consist of in an organization?

    <p>Elements that influence input acquisition and output disposal</p> Signup and view all the answers

    Why is constructing a strategic group map considered a challenging task?

    <p>Because it demands clear and vivid analysis for effective outcomes</p> Signup and view all the answers

    Why is forecasting considered a complex activity?

    <p>As a result of unforeseen events</p> Signup and view all the answers

    Which factor influences the validity of a company's strategy based on forecasting accuracy?

    <p>Accuracy of forecasting</p> Signup and view all the answers

    What method is described as a precise and easy way of quantitative forecasting?

    <p>Extrapolating historical data</p> Signup and view all the answers

    When should management look for additional sources of information for forecasting?

    <p>When there are major inconsistencies</p> Signup and view all the answers

    What factor may require a company to adjust its historical data for forecasting purposes?

    <p>New competitors entering the market</p> Signup and view all the answers

    Which method is utilized in strategic planning involving scenario preparation and examination?

    <p>Scenario writing</p> Signup and view all the answers

    What is the purpose of matching external opportunities/threats with internal strengths/weaknesses in formulating a successful strategy?

    <p>To establish a solid foundation for strategy formulation</p> Signup and view all the answers

    Why do executives need to track trends and events in the general environment according to the text?

    <p>To anticipate implications of trends and events</p> Signup and view all the answers

    What does PESTLE analysis stand for in its expanded form?

    <p>Political, Economic, Social, Technological, Legal, Environmental</p> Signup and view all the answers

    How is the PESTLE analysis commonly referred to?

    <p>PEST Analysis</p> Signup and view all the answers

    What do managers and strategy builders use PESTLE analysis for?

    <p>To anticipate future market positions</p> Signup and view all the answers

    What role does the general environment play in an organization's level of success according to the text?

    <p>Substantial role</p> Signup and view all the answers

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