Strategy Fundamentals

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Questions and Answers

What is the primary purpose of aligning goals, resources, and capabilities with the external environment?

  • To diversify into new markets
  • To realize corporate goals and achieve competitive advantage (correct)
  • To reduce competition in the industry
  • To allocate resources more efficiently

What is the primary focus of corporate strategy?

  • Emerging from individual managers' interpretations
  • Defining the firm's scope and making decisions on diversification (correct)
  • Gaining competitive advantage in specific industries
  • Allocating resources to achieve corporate goals

What is the characteristic of emergent strategies?

  • They are focused on achieving corporate goals
  • They are dynamic and flexible approaches
  • They are realized through negotiation and compromise
  • They emerge from individual managers' interpretations and adaptations (correct)

What is the role of strategy analysis in strategy formulation?

<p>To identify and classify relevant factors to deepen understanding (A)</p> Signup and view all the answers

What is a characteristic of effective strategy formulation?

<p>It is a dynamic, flexible, and innovative approach (C)</p> Signup and view all the answers

What is the primary difference between design and emergence in strategy formulation?

<p>Design encompasses intended strategies, while emergence emerges from individual managers' interpretations (A)</p> Signup and view all the answers

What is the primary distinction between a plan and a strategy?

<p>A plan is a detailed roadmap, while a strategy provides coherence and direction. (A)</p> Signup and view all the answers

Which of the following is NOT a key internal factor in strategy analysis?

<p>Industry environment (B)</p> Signup and view all the answers

What is the primary purpose of a SWOT analysis?

<p>To assess the firm's strengths and weaknesses, as well as external opportunities and threats (D)</p> Signup and view all the answers

What is a common challenge of SWOT analysis?

<p>Oversimplification of complex issues (A)</p> Signup and view all the answers

What is the primary requirement for a successful strategy?

<p>It must align with internal and external characteristics of the firm (C)</p> Signup and view all the answers

What is the relationship between strategy and goals?

<p>Strategy provides direction and coherence to achieve goals (D)</p> Signup and view all the answers

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