Strategic Management QCM

<p>the product ranges offered by the company (A)</p> Signup and view all the answers

<p>false (C)</p> Signup and view all the answers

<p>It can lead to negative synergies. (D)</p> Signup and view all the answers

<p>To carve out competitive advantages within specific market segments. (C)</p> Signup and view all the answers

<p>It can lead to increased profitability without external resources. (B)</p> Signup and view all the answers

<p>It encompasses the expansion of a company's operations beyond its country of origin. (D)</p> Signup and view all the answers

<p>A collection of goods/services addressing a distinct market demand. (D)</p> Signup and view all the answers

<p>Strategy outsourcing (B)</p> Signup and view all the answers

<p>Competitive intensity of an industry (B)</p> Signup and view all the answers

<p>To evaluate the external macro-environment (B)</p> Signup and view all the answers

<p>Cash cows (A)</p> Signup and view all the answers

<p>Mergers and acquisitions (C)</p> Signup and view all the answers

<p>Balancing global integration and local responsiveness (B)</p> Signup and view all the answers

<p>Examining activities that add value to the final product or service (C)</p> Signup and view all the answers

<p>All SBUs of the company (D)</p> Signup and view all the answers

<p>Focus on cost leadership across all markets (B)</p> Signup and view all the answers

<p>Market demand fluctuations (A)</p> Signup and view all the answers

<p>Reduction in production costs as output increases (A)</p> Signup and view all the answers

<p>Autocratic leadership (D)</p> Signup and view all the answers

<p>Aligning resources with organizational goals (B)</p> Signup and view all the answers

<p>Aiming to be 100% powered by renewable energy across the entire IKEA value chain (C)</p> Signup and view all the answers

<p>Identify driving forces and critical uncertainties (C)</p> Signup and view all the answers

<p>Analyzing each block of business operations (A)</p> Signup and view all the answers

<p>Technological trends affecting industry mobility (D)</p> Signup and view all the answers

<p>Existing customer demographics (C)</p> Signup and view all the answers

<p>Transformational leadership (B)</p> Signup and view all the answers

<p>Reducing the average cost per unit (A)</p> Signup and view all the answers

<p>Competitor pricing strategies (B)</p> Signup and view all the answers

<p>Working with social entrepreneurs (C)</p> Signup and view all the answers

<p>Technological developments (B)</p> Signup and view all the answers

<p>Corporate strategy (B)</p> Signup and view all the answers

<p>To enhance flexibility and responsiveness (D)</p> Signup and view all the answers

<p>Value propositions (B)</p> Signup and view all the answers

<p>Performance metrics (B)</p> Signup and view all the answers

<p>Market demand shifts (B)</p> Signup and view all the answers

<p>Transformational leadership (B)</p> Signup and view all the answers

<p>By reducing per-unit costs through higher production volume (C)</p> Signup and view all the answers

<p>Business strategy (B)</p> Signup and view all the answers

<p>Renew and improve (A)</p> Signup and view all the answers

<p>Innovative problem-solving (A)</p> Signup and view all the answers

<p>Localizing production in countries where factor costs are lower (D)</p> Signup and view all the answers

<p>Political instability (D)</p> Signup and view all the answers

<p>Skills development and knowledge creation (C)</p> Signup and view all the answers

<p>Financial resources (C)</p> Signup and view all the answers

<p>Situational leadership that adjusts based on circumstances (B)</p> Signup and view all the answers

<p>Lower per-unit costs with increased production volume (B)</p> Signup and view all the answers

<p>Utilize controllable forces like technological and financial resources (D)</p> Signup and view all the answers

<p>Continuous evaluation of market dynamics (A)</p> Signup and view all the answers

A process comprising strategy formulation, implementation, and evaluation stages.

A model used to analyze the competitive intensity of an industry.

A framework to evaluate macro-environmental factors influencing a business.

Products with high market share in a slow-growth industry.

A strategy balancing global integration and local responsiveness in international markets.

A framework used to analyze activities that create value in a product or service.

Strategy that concerns all strategic business units (SBUs) of the organization.

Products with a low market share in a high-growth market. These are developing products and markets in a dynamic environment.

Expanding a company by acquiring or merging with other companies, rather than growing from within.

The process of a company expanding its operations into foreign markets.

A tool for identifying groups of customers within a market that share specific needs and characteristics to develop targeted marketing efforts.

Expansion of a company through its own efforts, like investing in new products or facilities.

A homogeneous group of products or services targeting a specific market segment with identifiable competitors in a defined geographic area.

A product with a low market share in a slow-growing market, typically generating low profits and potentially becoming a drain on resources. These are often considered 'dead weight' and may be phased out.

A product with a high market share in a slow-growing market, generating substantial profits and often used to fund other business activities. These are reliable and stable earners.

The final stage of a product's life cycle, characterized by decreasing sales, declining profits, and potentially shrinking market share, leading to eventual discontinuation.

The range of products or services offered by a company, representing its complete business offering and catering to different customer needs and market segments.

The systematic process of gathering, analyzing, and distributing information about competitors' activities, products, markets, and strategies to gain a competitive advantage.

Adjusting production processes and facilities to meet the specific needs and requirements of a local market.

External factors beyond a company's direct control that can impact its operations, such as political changes, economic conditions, or natural disasters.

Factors within a company's control that it can manage to adapt to changes in uncontrollable forces, like financial strategies, marketing campaigns, or employee training.

Continuously enhancing critical resources and capabilities within a company, such as skills development, knowledge creation, and technological innovation.

Standardizing and simplifying product offerings across different markets to reduce complexity and costs in production and inventory management.

The expenses associated with various inputs of production, such as labor, raw materials, and energy.

Essential assets, capabilities, and skills that a company relies on to achieve its strategic objectives.

The critical processes and actions that a company engages in to create value and achieve its strategic goals.

Corporate strategy focuses on the overall direction and development of a company as a whole, encompassing all its different business units.

Business strategy deals with managing and coordinating different business units within a company to achieve specific goals.

Functional strategy focuses on the specific activities and operations within each business unit, often with more decentralized decision-making.

Strategic diagnosis is a thorough analysis of a company's internal and external environment to determine the best strategy to implement.

External analysis involves studying the market, competition, and industry trends to understand the opportunities and threats facing a company.

Value creation focuses on delivering customer satisfaction through various factors, like novelty, performance, personalization, and price.

Core values are fundamental beliefs that guide a company's actions and decisions, shaping its culture and identity.

A vision statement outlines a company's long-term goals and aspirations, describing where it wants to be in the future.

Strategic objectives are specific, measurable, attainable, relevant, and time-bound goals that guide the company's actions towards achieving its vision.

Strategy implementation involves putting the chosen strategy into action, involving decision-making based on performance metrics and managing resources effectively.

Specific, measurable goals that guide a company's overall direction and decision-making. They outline the long-term aspirations and desired outcomes.

Goals that are specific, measurable, achievable, relevant, and time-bound, providing clear targets and direction for action.

An assessment of a market's attractiveness based on factors like customer needs, competition, and cost of change.

A technique for planning by developing multiple plausible future scenarios to anticipate potential outcomes and prepare different strategic responses.

Key factors that can significantly influence an industry's future trajectory and require strategic consideration.

A visual tool that outlines a company's value proposition, customer segments, channels, revenue streams, and key resources.

Assets, capabilities, and knowledge that are essential for a company to create its value propositions and achieve its goals.

The pathways through which a company reaches its customers and delivers its value propositions.