Strategic Management Lesson 1: The Meaning of Strategy

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What is the meaning of strategy based on the text?

A long term plan of change and improvement for an organization employing available and limited resources to realize the company’s vision and mission

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

An army led by a general

In military parlance, what does strategy mean?

The games of generals seeking to defeat an enemy

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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