Strategic Management Lesson 1: The Meaning of Strategy
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Questions and Answers

What is the meaning of strategy based on the text?

  • A short term plan of change and improvement for an organization
  • A plan devised at the relevant level of management to disrupt the company's vision and mission
  • An action to embark on setting corporate track or course without considering available resources
  • A long term plan of change and improvement for an organization employing available and limited resources to realize the company’s vision and mission (correct)

    • What does the word 'strategy' mean, based on its Greek origin?

  • The act of moving or guiding an army
  • A plan made for a campaign in war
  • An army led by a general (correct)
  • The games of generals seeking to defeat an enemy

    • In military parlance, what does strategy mean?

  • The plans made for a campaign in war
  • The games of generals seeking to defeat an enemy (correct)
  • The way the army moves and disposes forces in war
  • The act of disrupting the enemy's vision and mission

    • What is an essential aspect of strategy according to the text?

    <p>Employing available and limited resources to realize the company’s vision and mission</p> Signup and view all the answers

    According to Sun Tzu, what is the highest form of victory?

    <p>Conquering the enemy without having to resort to war</p> Signup and view all the answers

    What is the primary focus of guerrilla warfare according to Mao Zedong?

    <p>Attacking, retreating, and hiding repeatedly</p> Signup and view all the answers

    Which type of guerrilla marketing focuses on word-of-mouth distribution?

    <p>Viral or Buzz Marketing</p> Signup and view all the answers

    What does Carl von Clausewitz believe strategy should be based on in chaotic situations?

    <p>Adapting to physical impediments</p> Signup and view all the answers

    According to Sun Tzu, what is imperative in order to conquer the business warfare?

    <p>Knowing both the internal and competitors' strengths and weaknesses</p> Signup and view all the answers

    What does Sun Tzu consider as essential for victory in a battle?

    <p>&quot;Knowing when to fight an&quot;</p> Signup and view all the answers

    What does the term 'friction' refer to according to Carl von Clausewitz?

    <p>Physical impediments to military action</p> Signup and view all the answers

    Which guerrilla marketing type strives to blend into a natural environment?

    <p>Ambient Marketing</p> Signup and view all the answers

    "He who comes later to the scene and rushes into the fight is weary" is a quote by which military strategist?

    <p>&quot;Sun Tzu&quot;</p> Signup and view all the answers

    "Guerillas will attack, retreat, hide, then do it again, again and again until the competitors moves on to other market" is a principle of which military strategist?

    <p>&quot;Mao Zedong&quot;</p> Signup and view all the answers

    "Stealth Marketing" is a low cost strategy that strives to market to a customer without the customer realizing they are being marketed to. This is an example of which guerrilla marketing type?

    <p>&quot;Stealth Marketing&quot;</p> Signup and view all the answers

    "Strategy should come not from formula or rules of engagement but from adapting to what he called 'friction'". Who emphasized this principle?

    <p>&quot;Carl von Clausewitz&quot;</p> Signup and view all the answers

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