20 Questions
What is hyper competition characterized by?
Intense and rapid competitive moves
What does strategic management involve?
Strategic analysis, decision making, formulation, implementation, and control
What is organizational competitiveness?
Ability of a business to utilize its resources optimally and sustainably for maximum performance and productivity
What is strategic performance characterized by?
Efficiency in the context of lean and quantifiable management
What are the components of the strategic management process?
Strategic analysis, decision making, formulation, implementation, and control
What are the three big strategic questions according to the strategic management model?
Where are we now, where do we want to go, and how do we get there.
What does strategy consist of, according to the text?
The set of competitive moves and business approaches that management is employing to run the company.
What is the equation presented for good management in the strategic management model?
Good strategy + good strategy execution = good management.
What is strategy's game plan focused on achieving?
Attracting customers, staking out a market position, conducting operations, competing successfully, and achieving organizational objectives.
What is the mission of Disney, as mentioned in the text?
To entertain, inform, and inspire people around the globe through the power of unparalleled storytelling, reflecting iconic brands, creative minds, and innovative technologies.
The strategic management model identifies concepts of strategy and the elements necessary for the development of a ______ enabling the organization to satisfy its mission
strategy
Strategy is management’s game plan to attract ______
customers
Good strategy + good strategy execution = good ______
management
To entertain, inform, and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds, and innovative technologies that make ours the world’s premier entertainment ______
company
The process by which firms continually dynamism are born, fail, expand, and contract, as some jobs are created, others are destroyed, and others still are turned ______
over
Hyper competition is “an environment characterized by intense and rapid competitive moves, in which competitors must move quickly to build new advantages and ______ erode the advantages of their rivals.”
simultaneously
Situation where both globalization and technology collaborate to create a heightened cut throat competition. Why the environment is considered dynamic: Continuous process of strategy creation. It Strategic management involves strategic process like: strategic analysis and decision making, strategy formulation and implementation, strategy ______.
control
Organizational Input - Management/ Employees - Financial Resources - Facilities Equipment - Infrastructures - Processes. Strategic Management process - Strategic analysis - Stratgeic decision making - Strategy formulation - Stratgey implementation - Strategic ______.
control
Strategic Management Model Organizational success - Strategic intelligence - Strategic thinking thinking - Organizational competitiveness - Comparative advantage - Strategic ______.
performance
When does an organization enjoy competitiveness . Strategic planning a continuous repetitive and ______.
competitive
Test your knowledge of strategic management models, business strategies, and the key components of creating a successful strategy including 'where are we now', 'where do we want to go', and 'how do we get there'. This quiz covers topics such as competitive moves, market positions, buyer needs, and management's game plan for attracting customers and conducting operations.
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