Strategic Management Authors Quiz
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Questions and Answers

What is a primary focus of the research mentioned in the content?

  • Digital transformation strategies
  • International M&A and strategy practices (correct)
  • Corporate Social Responsibility
  • Leadership development in organizations

Which journal is NOT mentioned as a publication venue for the author's articles?

  • Academy of Management Learning & Education
  • MIT Sloan Management Review
  • California Management Review
  • Harvard Business Review (correct)

What role do the individuals described hold in the academic community?

  • Active researchers without teaching responsibilities
  • Junior lecturers focused on undergraduate education
  • Emeritus Professors with teaching experience (correct)
  • Consultants with no academic affiliations

What kind of teams do the professors collaborate with according to the content?

<p>Senior management teams on strategy issues (D)</p> Signup and view all the answers

Which area does Kevan Scholes specialize in?

<p>Strategic management (A)</p> Signup and view all the answers

Who are primarily responsible for developing strategies at the highest level within an organization?

<p>Top managers and directors (A)</p> Signup and view all the answers

Which function is critical for aligning various strategic initiatives within an organization?

<p>Communicating strategy (A)</p> Signup and view all the answers

What approach is utilized to ensure that strategies are validated and adjusted based on empirical evidence?

<p>Hypothesis testing (C)</p> Signup and view all the answers

What is the main purpose of strategic planners within an organization?

<p>To develop and design strategic initiatives (A)</p> Signup and view all the answers

Which methodology focuses on collective discussions and inputs from various stakeholders to form strategies?

<p>Strategy workshops (A)</p> Signup and view all the answers

What is often a key factor in the participation of different individuals in the strategy development process?

<p>Open communications (C)</p> Signup and view all the answers

Which answer best describes the role of middle managers in the strategy implementation process?

<p>They translate strategy into operational actions. (C)</p> Signup and view all the answers

Which of the following is NOT a recognized method for strategizing?

<p>Data mining (B)</p> Signup and view all the answers

Who collaborated as authors on this edition of the book?

<p>Richard Whittington and Kevin Scholes (A), Gerry Johnson and Patrick Regnér (B), Jason Evans and Clive Kerridge (D)</p> Signup and view all the answers

In what year was the first edition of the book published?

<p>1984 (B)</p> Signup and view all the answers

Which institution is NOT mentioned as associated with one of the authors?

<p>Newcastle University (A), University of California (C)</p> Signup and view all the answers

How many editions of the book have been published up to 2020?

<p>12 (A)</p> Signup and view all the answers

Which of the following years marks the publication of the eighth edition?

<p>2008 (A)</p> Signup and view all the answers

Which edition of the book was published first in both print and electronic formats?

<p>Tenth edition (A)</p> Signup and view all the answers

Which of the following entities is primarily associated with the publication of this book?

<p>Pearson Education Limited (A)</p> Signup and view all the answers

What is the primary focus of the book based on its title?

<p>Exploring strategy (B)</p> Signup and view all the answers

Which horizon focuses on extending and defending the core business?

<p>Horizon 1 (B)</p> Signup and view all the answers

What is the primary goal of Horizon 3 in strategic planning?

<p>Create viable options (C)</p> Signup and view all the answers

The element of performance potential is most closely associated with which horizon?

<p>Horizon 2 (D)</p> Signup and view all the answers

What characteristic of Tesla's Model S is highlighted regarding its environmental impact?

<p>Zero tailpipe emissions (C)</p> Signup and view all the answers

What type of car does Tesla's Model S represent in the context of its strategic position?

<p>High-end sports car (C)</p> Signup and view all the answers

What role do external stakeholders like investors play in an organisation?

<p>They can significantly influence the organisation's strategy. (D)</p> Signup and view all the answers

What is a key responsibility of middle managers regarding organisational strategy?

<p>They need to align their initiatives with the strategic direction. (B)</p> Signup and view all the answers

What should candidates for management-track jobs be prepared to discuss?

<p>The viability of the employer's strategy. (A)</p> Signup and view all the answers

Which career opportunities are highlighted in the context of strategy?

<p>Strategy consultant and in-house strategic planner. (C)</p> Signup and view all the answers

Which types of organisations are mentioned as relevant for the study of strategy?

<p>Start-ups and non-profits. (D)</p> Signup and view all the answers

What is the primary purpose of the Exploring Strategy Framework?

<p>To analyze an organisation's strategy. (B)</p> Signup and view all the answers

What does the book aim to increase awareness of concerning strategy?

<p>Working with strategy in different contexts. (C)</p> Signup and view all the answers

Why might someone choose the book titled 'Exploring Strategy' over other textbooks?

<p>It offers practical insights into strategy application. (D)</p> Signup and view all the answers

What is the primary focus of Horizon 1 businesses?

<p>Currently core activities that need defending and extending (B)</p> Signup and view all the answers

Which of the following best describes Horizon 2 businesses?

<p>Emerging activities that are expected to yield future profits (B)</p> Signup and view all the answers

What does the 'three horizons' framework emphasize for organizations?

<p>Long-term perspective while addressing current activities (B)</p> Signup and view all the answers

Which of the following activities for Tesla would fall under Horizon 3?

<p>Research into solar electric initiatives (D)</p> Signup and view all the answers

Why do managers need to avoid focusing only on short-term issues?

<p>It might limit potential growth and innovation (D)</p> Signup and view all the answers

What is a characteristic of Horizon 3 possibilities?

<p>They involve activities with uncertain outcomes (A)</p> Signup and view all the answers

What is the risk associated with Horizon 1 businesses?

<p>They face the potential of declining profits over time (C)</p> Signup and view all the answers

Which element is essential for an organization like Tesla to consider for long-term strategy?

<p>Pushing Horizon 1 as far out as possible while exploring Horizons 2 and 3 (A)</p> Signup and view all the answers

Flashcards

Gerry Johnson's Expertise

Gerry Johnson is an expert in strategic management, with experience in teaching executives internationally and publishing research in leading management journals.

Kevan Scholes's Focus

Kevan Scholes specializes in strategic management, working with senior management teams on strategy development and change, and teaching strategy globally.

Professor's Positions

Gerry Johnson and Kevan Scholes are both professors of strategic management at respected universities and have experience in multiple management schools.

Johnson's Research Focus

Professor Johnson's research focuses on international mergers and acquisitions (M&A) and strategy practices.

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Scholes's Consulting Work

Professor Scholes works with senior management teams on issues of strategy development and change.

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Book Edition

A specific version of a book with updated content, improvements, or changes from prior versions.

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Authors

The people who wrote the book.

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Business Strategy Book

A book that teaches strategies for running a successful business.

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12th Edition

The 12th released version of the book.

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Publishing Company

The company that released the book.

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Copyright

Legal right granted to the creator of a copyright work to control how it is copied and used.

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Authors' Rights

Legal right of authors to be recognized as the writers of their own work.

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Financial times Prentice Hall imprint

A specific identity used by a business publishing company for certain editions of its books.

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What is Strategy?

A plan outlining an organization's long-term goals and how they will be achieved, considering internal and external factors.

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Strategy's Purpose

To guide an organization towards its objectives, by allocating resources effectively and making informed decisions.

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External Stakeholders

Individuals or groups outside an organization who have an interest in its performance, such as investors, banks, and analysts.

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Internal Stakeholders

Individuals or groups within an organization who have an interest in its performance, such as middle managers and employees.

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Why is Strategy Important?

It helps organizations achieve their objectives, remain competitive, and adapt to changing environments.

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Strategic Opportunities

Career paths that involve developing and implementing strategy, such as strategy consultants and in-house strategic planners.

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Key Components of Strategy?

Strategy involves defining goals, analyzing the environment, making choices, managing resources, and adapting to change.

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Exploring Strategy Framework

A tool or framework used for analyzing an organization's strategy and its context.

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Strategy Process

The ongoing cycle involving analyzing the environment, setting goals, making decisions, and communicating the strategy within an organization.

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Strategic Planners

Individuals with specific expertise in strategic management, responsible for analyzing industry trends, assessing competitive advantages, and formulating strategic plans.

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Middle Managers' Role in Strategy

Middle managers translate strategic goals into actionable plans for their specific departments, ensuring alignment with overall company strategy.

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Strategic Issue-Selling

The process of presenting strategic issues to key stakeholders, building support and consensus for proposed actions.

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Strategic Decision Making

The process of identifying and evaluating options, considering risks and opportunities, and making choices aligning with the overall strategy.

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Strategy Workshops

Interactive sessions involving key stakeholders to analyze the environment, identify opportunities, and collaboratively develop strategic plans.

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Hypothesis Testing

A systematic approach to testing assumptions underlying strategic decisions through research, analysis, and experimentation.

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Business Cases and Strategic Plans

Formal documents outlining a strategic initiative, including goals, objectives, implementation steps, and anticipated outcomes.

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Three Horizons of Strategy

A framework for thinking about strategy across three time horizons: Horizon 1 (extending and defending the core business), Horizon 2 (building emerging businesses), and Horizon 3 (creating viable options for the future).

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Horizon 1

Focuses on extending and defending the company's existing core business. This horizon is about optimizing current operations, squeezing more value from existing products and services, and managing existing assets effectively.

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Horizon 2

Focuses on building emerging businesses that will eventually replace or complement the core business. This horizon involves identifying and developing new products, services, markets, or technologies that offer growth potential.

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Horizon 3

Focuses on creating viable options for the future. This horizon is about exploring completely new ideas and opportunities that may be outside the company's current expertise or even industry. It requires experimentation and innovation.

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Tesla Motors: A Horizon 3 Example

Tesla Motors, by focusing on electric vehicles, was a Horizon 3 strategy. It embraced a completely new technology and aimed to disrupt the existing automotive industry, creating viable options for a more sustainable future.

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Long-Term Strategy

Strategies typically span years, even decades, for some organizations, focusing on a sustained vision and achieving desired outcomes.

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Horizon 1 Business

The core activities of an organization, generating current profits. Their performance might decline in the long run.

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Horizon 2 Business

Emerging activities with potential for future profits. These are new ventures that could be the next major income stream.

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Horizon 3 Business

High-risk, uncertain ventures that are exploratory in nature. Could be research projects, start-ups, or pilot programs.

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Three Horizons Framework

A model suggesting organizations should consider their businesses in terms of three horizons: core activities, new opportunities, and future possibilities.

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Tesla Motors Horizon 1

Includes the original Tesla Roadster and subsequent models, representing the company's established automobile production.

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Tesla Motors Horizon 2

Examples include the mega-battery business, offering new products and services beyond car manufacturing.

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Tesla Motors Horizon 3

Includes solar electric initiatives, rockets, and space transportation, venturing into high-risk, futuristic areas.

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Study Notes

Authors and Their Affiliations

  • Duncan Angwin: Nottingham University Business School, author of twelve books and over forty articles in academic journals, editorial board member of several journals, teaches internationally to executives, research grants exceeding €10 million, focusing on international M&A and strategy.
  • Gerry Johnson: Emeritus Professor of Strategic Management at Lancaster University School of Management, also taught at other institutions (Strathclyde Business School, Cranfield School of Management, Manchester Business School, Aston University), author of numerous books, published research in leading management journals, works with senior management on strategy development and change.
  • Kevan Scholes: Principal Partner of Scholes Associates, specializing in strategic management, Emeritus Professor of Strategic Management, formerly Director of Sheffield Business School, UK, extensive teaching experience (undergraduate and postgraduate), management development in private and public sectors, advisor on management development to national bodies, Chartered Management Institute Companion.
  • Richard Whittington: Saïd Business School, University of Oxford.
  • Patrick Regnér: Stockholm School of Economics.
  • Jason Evans and Clive Kerridge: assisted in the writing of the book.

Book Details

  • Exploring Strategy, Twelfth Edition, by Whittington, Regnér, Angwin, Johnson, and Scholes
  • Published by Pearson Education
  • First edition published 1984 (print)
  • Twelfth edition published 2020 (print and electronic)
  • Contains case studies: Glastonbury festival, global pharmaceutical industry, and Siemens.

Book Content Overview

  • Discusses strategizing, strategy analysis, issue-selling, decision-making, and communication.
  • Explains strategy methodologies, workshops, projects, hypothesis testing, business cases, and strategic plans.
  • The book covers strategy in various organizational contexts (large multinationals, small startups, public-sector, not-for-profits.)
  • Presents the "three horizons" framework for strategy, considering long-term perspectives on business activities (Horizon 1: core activities, 2: emerging activities, 3: risky research, start-up projects).
  • Addresses various roles involved in strategy development, including top managers, strategic planners, middle managers, strategy consultants, and stakeholder involvement.
  • Discusses the influence of stakeholders (investors, banks, venture capitalists, analysts).
  • Explores how middle managers need to understand strategy to gain top management support and communicate it to team members.
  • Highlighting strategy as a crucial skill for management roles.

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Exploring Strategy 12th Edition PDF

Description

Test your knowledge on influential authors in strategic management, including their affiliations and contributions to the field. This quiz covers notable figures like Duncan Angwin, Gerry Johnson, and Kevan Scholes, and their impact on international business strategies.

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