30 Questions
According to the I/O model, what enforces demands and restrictions on organizations?
External environment
What is one of the main assumptions of the I/O model regarding strategically pertinent resources?
They are immobile across organizations
Which assumption of the I/O model implies that companies within an industry will tend to use similar strategies?
Assumption 2
What does the I/O model assert about major differences in strategically pertinent resources among companies in an industry?
They are likely to become extinct due to resource mobility
What is emphasized as important for protecting and maintaining a competitive advantage?
Understanding and combining external and internal factors
In the I/O model, what is the assumed character of decision-makers in organizations?
Logical and devoted to the company's best interests
What are the five components that an organization is composed of according to the text?
Competitors, customers, suppliers, regulators, strategic partners
Which group is identified as having a significant influence on the policies of an organization?
Competitors
What is the primary goal of every organization as mentioned in the text?
Satisfying customers
Which company has penetrated over 65% share of the hamburger market in the Philippines?
Jollibee
What keeps a company alive and sound according to the text?
Customer purchases
What aspect attracts kids to Jollibee according to the text?
In-store play activities and appealing characters
What is a strategic group in strategic management?
A group of companies with similar business models or strategies
Who coined the term 'strategic group' in 1972?
Hunt
What is the purpose of strategic group mapping?
To analyze a firm's position within the industry
Which of the following is NOT a major step in constructing a strategic group map?
Setting random areas without relevance
What does the task environment consist of in an organization?
Elements that influence input acquisition and output disposal
Why is constructing a strategic group map considered a challenging task?
Because it demands clear and vivid analysis for effective outcomes
Why is forecasting considered a complex activity?
As a result of unforeseen events
Which factor influences the validity of a company's strategy based on forecasting accuracy?
Accuracy of forecasting
What method is described as a precise and easy way of quantitative forecasting?
Extrapolating historical data
When should management look for additional sources of information for forecasting?
When there are major inconsistencies
What factor may require a company to adjust its historical data for forecasting purposes?
New competitors entering the market
Which method is utilized in strategic planning involving scenario preparation and examination?
Scenario writing
What is the purpose of matching external opportunities/threats with internal strengths/weaknesses in formulating a successful strategy?
To establish a solid foundation for strategy formulation
Why do executives need to track trends and events in the general environment according to the text?
To anticipate implications of trends and events
What does PESTLE analysis stand for in its expanded form?
Political, Economic, Social, Technological, Legal, Environmental
How is the PESTLE analysis commonly referred to?
PEST Analysis
What do managers and strategy builders use PESTLE analysis for?
To anticipate future market positions
What role does the general environment play in an organization's level of success according to the text?
Substantial role
Learn about the concept of strategic groups in strategic management and how companies are grouped based on similar business models or strategies. Explore how strategic group mapping can help analyze a company's position within an industry or market.
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