30 Questions
What is the main goal of strategic positioning?
Preserving what is distinctive about a company
What is one of the key steps in creating your personal brand as mentioned in the text?
Networking with others
Which method of corporate-level strategy involves diversification and acquisitions?
Growth strategy
What is a key aspect of Porter’s technique for formulating a business-level strategy?
Focusing on cost leadership or differentiation
In the context of strategic management, why is it important to assess the competitive landscape?
To identify opportunities and threats in the market
What is a core principle underlying strategic positioning as mentioned in the text?
Aim for sustainable competitive advantage by being distinctive
What does SWOT stand for in the context of strategic analysis?
Strengths, Weaknesses, Opportunities, Threats
How is VRIO pronounced when referring to the framework for assessing competitive potential?
V-R-I-O
What does VRIO framework analyze to determine competitive strategic potential?
Value, Rarity, Imitability, Organization
Which aspect is NOT considered in a SWOT analysis?
Trends
In the context of SWOT analysis, what do the strengths and weaknesses represent?
Internal factors
Which part of VRIO framework focuses on the assessment of how rare a resource or capability is?
Rarity
What does the BCG matrix refer to in the text?
Types of corporate strategy
What does a 'growth strategy' involve?
Expansion in sales revenues
In the BCG matrix, what do 'stars' represent?
High growth, high market share
What is the focus of 'stability' as a type of corporate strategy?
Little or no significant change
Which element is not part of a growth strategy as outlined in the text?
Reduction in the organization's efforts
What is the purpose of benchmarking according to the text?
Comparing with the best
What are the three core processes of business that contribute to a company's ability to execute effectively?
People, strategy, and operations
How do higher-level corporate and business-level strategies impact functional-level strategies?
They flow down to the functional strategy
Which of the following is NOT considered a typical functional area according to the text?
Sales
What is the primary consideration in the second core process of business according to the text?
How success will be accomplished
Execution roadblocks can hinder which core process of business as discussed in the text?
Strategy
In strategic implementation at Kroger mentioned in the text, what is emphasized as a crucial factor for achieving goals?
Effective communication and alignment of goals
What are the key strategies mentioned for maintaining strategic control?
Engage people, keep it simple, stay focused, keep moving.
What is advised in the 'Career Corner: Managing Your Career Readiness' section?
Understand the business, know employer strategies, network, seek mentoring, participate in job rotations, attend meetings, and make connections.
Which process involves considering the path to be followed?
Operations
Why might managers face obstacles to strategic implementation?
Due to various reasons leading to obstacles in strategic implementation.
What is emphasized as a key part of career readiness competencies?
Broadening task and functional knowledge
In which section is a 'Model of Career Readiness' introduced?
'Career Corner: Managing Your Career Readiness'
This quiz covers concepts related to forecasting and benchmarking in the context of strategic management based on Rothaermel's book. It discusses trend analysis, contingency planning, and comparing performance with industry benchmarks.
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