10 Questions
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
Which of the following statements accurately represents the concept of 'strategic intent'?
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
Which of the following is the correct definition of 'sustainable competitive advantage'?
Outperforming competitors or the industry average over a prolonged period of time
Which of the following is the correct definition of 'mission'?
Description of what an organisation actually does
Which of the following is the correct definition of 'vision'?
A statement about what an organization ultimately wants to accomplish; it captures the company's aspiration
What is the main focus of stakeholder impact analysis in strategic management?
Recognizing, prioritizing, and addressing stakeholders' needs
Which strategic management activity involves coordination and integration of how work gets done?
Strategy implementation
What does the upper-echelons theory propose as a reflection of top management team values?
Strategic choices and performance levels
In the context of strategic management, what are strategic business units (SBUs) responsible for?
Their own profit-and-loss
Which aspect of strategic leadership involves directing activities to achieve organizational goals?
Power and influence utilization
Learn about competitive advantage, disadvantage, and parity in the context of industry performance. Explore the definitions of mission and organisational core values.
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