Podcast
Questions and Answers
Which of the following best describes the concept of 'competitive advantage'?
Which of the following best describes the concept of 'competitive advantage'?
- Superior performance relative to other competitors in the same industry or the industry average (correct)
- Outperforming competitors or the industry average over a prolonged period of time
- A stretch goal that pervades the organization with a sense of winning
- The set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors
Which of the following statements accurately represents the concept of 'strategic intent'?
Which of the following statements accurately represents the concept of 'strategic intent'?
- Outperforming competitors or the industry average over a prolonged period of time
- Ethical standards and norms that govern the behavior of individuals within a firm or organization
- Description of what an organization actually does
- A stretch goal that pervades the organization with a sense of winning, which it aims to achieve by building the necessary resources and capabilities through continuous learning (correct)
Which of the following is the correct definition of 'sustainable competitive advantage'?
Which of the following is the correct definition of 'sustainable competitive advantage'?
- Outperforming competitors or the industry average over a prolonged period of time (correct)
- The set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors
- An integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage
- Performance of two or more firms at the same level
Which of the following is the correct definition of 'mission'?
Which of the following is the correct definition of 'mission'?
Which of the following is the correct definition of 'vision'?
Which of the following is the correct definition of 'vision'?
What is the main focus of stakeholder impact analysis in strategic management?
What is the main focus of stakeholder impact analysis in strategic management?
Which strategic management activity involves coordination and integration of how work gets done?
Which strategic management activity involves coordination and integration of how work gets done?
What does the upper-echelons theory propose as a reflection of top management team values?
What does the upper-echelons theory propose as a reflection of top management team values?
In the context of strategic management, what are strategic business units (SBUs) responsible for?
In the context of strategic management, what are strategic business units (SBUs) responsible for?
Which aspect of strategic leadership involves directing activities to achieve organizational goals?
Which aspect of strategic leadership involves directing activities to achieve organizational goals?
