Strategic Management Course Overview
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Questions and Answers

What factor can threaten a competitive advantage within a market?

  • Higher levels of consumer satisfaction
  • Entry of new firms into the market (correct)
  • Expansion into new geographic areas
  • Increased innovation from existing competitors

    • What shift does the resource-based view emphasize in strategy formulation?

  • From external market analysis to industry competition
  • From industry analysis to internal resources and capabilities (correct)
  • From strategic management to corporate governance
  • From product diversification to service specialization

    • Which of the following is NOT a characteristic of dynamic capabilities?

  • Reconfiguration of resources to meet changes
  • Creation of temporary advantages
  • Ability to innovate continuously
  • Focus on sustainable competitive advantage (correct)

    • What does strategic management focus on in the context of competition?

    <p>Industry analysis and environmental positioning</p> Signup and view all the answers

    Why might a company need to replace its top management?

    <p>To align with shareholders' demand for a different strategy</p> Signup and view all the answers

    What is one of the purposes of applying theory to real-world examples in the exam?

    <p>To assess understanding of theoretical concepts</p> Signup and view all the answers

    Which reading is associated with defining the concept of strategy?

    <p>Ghemawat, P. (2001)</p> Signup and view all the answers

    What grading format is used to evaluate the written exam?

    <p>Out of 20</p> Signup and view all the answers

    Which concept is primarily discussed during the class focusing on corporate strategy in November?

    <p>Value creation</p> Signup and view all the answers

    Which of the following statements accurately describes the exam format concerning financial ratios?

    <p>Calculation and interpretation are required.</p> Signup and view all the answers

    What role does strategy play in a company's long-term success?

    <p>It helps in making coherent and consistent decisions.</p> Signup and view all the answers

    Which of the following describes corporate strategy?

    <p>It sets the scope in terms of industries and markets.</p> Signup and view all the answers

    How does strategy act as a coordination and communication device?

    <p>By establishing a framework for identity and vision.</p> Signup and view all the answers

    What is a significant characteristic of strategic decisions?

    <p>They are typically hard to reverse due to commitment.</p> Signup and view all the answers

    What does bounded rationality in decision-making refer to?

    <p>The limitations individuals face in processing information.</p> Signup and view all the answers

    What is the purpose of a strategic intent?

    <p>To create a vision that all employees can align with.</p> Signup and view all the answers

    What distinguishes competitive strategy from corporate strategy?

    <p>Competitive strategy defines how to compete within a specific market.</p> Signup and view all the answers

    What is the main focus of decisions regarding corporate strategy?

    <p>To manage diversification and integration across various markets.</p> Signup and view all the answers

    What is considered a key pillar of organization in effective strategy implementation?

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

    Which term describes the strategy that evolves based on actual practices and feedback?

    <p>Emergent strategy</p> Signup and view all the answers

    What does strategic fit refer to in the context of a company’s strategy?

    <p>Consistency with internal and external environments</p> Signup and view all the answers

    In the strategy as positioning model, what question addresses the firm's competitive advantage?

    <p>How are we competing?</p> Signup and view all the answers

    Which of the following is NOT considered a component of the organization's key pillars?

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

    Mike Tyson's quote about strategy implies that:

    <p>Strategies require adjustments based on real-world events.</p> Signup and view all the answers

    Which of the following factors influences the external environment of a firm?

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

    What is the focus of the 'strategy as direction' model?

    <p>Vision and performance goals</p> Signup and view all the answers

    What is a key component necessary for successful strategy according to the framework?

    <p>Clear and consistent long-term goals</p> Signup and view all the answers

    Which aspect is involved in the internal analysis of strategy?

    <p>Assessing resources and capabilities</p> Signup and view all the answers

    What relationship should exist for effective strategy implementation?

    <p>Alignment of goals, environment, resources, and capabilities</p> Signup and view all the answers

    What is one of the determinants of a company's value creation?

    <p>Sales growth</p> Signup and view all the answers

    How is a competitive advantage typically developed?

    <p>Through a good understanding of the competitive environment</p> Signup and view all the answers

    What does effective implementation of a strategy involve?

    <p>Adjusting courses of action as needed</p> Signup and view all the answers

    What is NOT considered a determinant of value creation in a company?

    <p>Employee satisfaction levels</p> Signup and view all the answers

    What is the primary responsibility of a Strategic Business Unit (SBU)?

    <p>Develop strategies for specific markets</p> Signup and view all the answers

    At which level does competition primarily take place according to the content?

    <p>Industry level</p> Signup and view all the answers

    Which of the following describes a primary goal of strategy?

    <p>To maximize value creation over the long term</p> Signup and view all the answers

    Who is responsible for appointing the Chief Executive Officer within a company?

    <p>Board of directors</p> Signup and view all the answers

    What role does the board of directors play in the strategy implementation process?

    <p>Approve strategy and oversee its execution</p> Signup and view all the answers

    Which group is NOT mentioned as part of the strategic decision involvement?

    <p>Middle management</p> Signup and view all the answers

    Which of the following divisions does Philips NOT include?

    <p>Industrial engineering</p> Signup and view all the answers

    What is the main goal of a Strategic Business Unit within a company?

    <p>Gain and sustain competitive advantage in its markets</p> Signup and view all the answers

    When should a strategy potentially be reviewed?

    <p>When market conditions change or after implementation</p> Signup and view all the answers

    Study Notes

    Course Information

    • Course Title: Strategic Management
    • Course Code: B-KUL-Y00927
    • Professor: Dr. Sam Arts
    • Academic Year: 2024-2025

    Course Schedule

    • Lectures: Mondays, 13:30-15:30, CAR 1.09
    • Video recordings from previous years available on Toledo
    • Required readings to be completed before each lecture
    • Interactive class participation encouraged
    • Questions answered in class, not via email
    • Learning materials (slides and notes): available on Toledo
    • Management Project 2 (B-KUL-Y00934)

    Course Evaluation

    • 3 ECTS
    • Written exam, closed book. 100% of the final grade
    • Two hours
    • End of first semester
    • Sample exams available on Toledo
    • Exam questions:
      • "Right or wrong" + explanations
      • Theory questions (e.g., explain a concept, discuss a paper)
      • Application of theory to real-world examples (similar to cases discussed in class)
      • Calculation and interpretation of financial ratios
    • Grade of 9 or lower on 20 = failure rate between 30-50%

    Reading Material (Chapter Summaries)

    • What is Strategy?
      • Ghemawat (2001), Strategy and the Business Landscape, Chapter 1: The Origins of Strategy (pages 1-9)
      • Porter (1996), What is Strategy?, Harvard Business Review, November-December, (pages 61-78)
    • Drivers of Value Creation
      • Koller (1994), What is value-based management?, The McKinsey Quarterly (pages 87-101)
      • Koller, Goedhart, & Wessels (2010), Valuation: Measuring and Managing the Value of Companies, McKinsey & Company.
        • Chapter 3: Fundamental Principles of Value Creation
        • Chapter 5: Frameworks for Valuation
        • Chapter 6: Thinking about Return on Invested Capital and Growth
      • Baghai, Smit, & Viguerie (2007), The Granularity of Growth, The McKinsey Quarterly (pages 41-51)
    • Industry Analysis
      • Porter (2008), The Five Competitive Forces that Shape Strategy, Harvard Business Review (pages 78-91)
      • McGahan (2004), How Industries Change, Harvard Business Review (pages 87-94)
    • Competitive Strategy and Competitive Advantage
      • Ghemawat (2001), Strategy and the Business Landscape, Chapter 3: Creating Competitive Advantage (pages 44-67)
      • Prahalad & Hamel (1990), The Core Competence of the Corporation, Harvard Business Review (pages 1-15)
      • Kim & Mauborgne (1997), Value Innovation: The Strategic Logic of High Growth, Harvard Business Review (pages 103-112)
      • Collis & Montgomery (2008), Competing on Resources, Harvard Business Review (pages 140-150)
    • Corporate Strategy
      • Collis & Montgomery (1998), Creating Corporate Advantage, Harvard Business Review (pages 71-83)
      • Porter (1987), From Competitive Advantage to Corporate Strategy, Harvard Business Review (pages 1-21)
      • Carlesi, Verster, & Wenger (2007), The New Dynamics of Managing the Corporate Portfolio, McKinsey Quarterly (pages 1-8)

    Additional Information

    • Specific question examples:
      • "Right or wrong" + explanation example (page 6)
      • Theory Questions (page 7)
      • Case study: Volvo Ghent (page 8)
      • Financial Ratio calculation and interpretation (page 9)
    • Additional concepts mentioned:
      • Strategic Fit
      • Internal and External Environment
      • Competitive advantage
      • Cost vs. Differentiation Strategy
      • Resources & Capabilities
      • Implementation
      • Strategy as Positioning
      • Strategy as Direction
    • Industry Analysis (Porter's Five Forces, PEST analysis)

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    Strategic Management Past Paper PDF 2024-2025

    Description

    This quiz covers the essential components of the Strategic Management course taught by Dr. Sam Arts for the academic year 2024-2025. It includes information on course schedules, evaluation methods, and key learning materials. Prepare for the written exam and understand the expectations for participation and project work.

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