Strategic Management - Study Mode

[#176] _________________ is the process through which an organization evaluates its capability so as to have competitive advantage at market place
Correct Answer

(B) Organizational analysis

Explanation

Solution: Organizational analysis is the process through which an organization evaluates its capability so as to have competitive advantage at market place. Organizational analysis is the process of appraising the growth, personnel, operations, and work environment of an entity. Undertaking an organizational analysis is beneficial as it enables management to identify areas of weakness, and then find approaches for eliminating the problems.

[#177] In Ansoff's matrix, product development involves going in the direction of
Correct Answer

(C) new products to present markets

Explanation

Solution: In Ansoff's matrix, product development involves going in the direction of new products to present markets. The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth.

[#178] Which of these questions is not addressed by an effective business model?
Correct Answer

(D) None of the above All are essential questions for effective business models

Explanation

Solution: A business model typically includes a description of your customers, how customers use your product, how you distribute your product and details about how you promote your business. The model also describes key operational tasks, staffing and other resource requirements as well as details about how business is conducted. A business model describes your business using visual images, typically on a single page, while a business plan describes your business in a more lengthy document.

[#179] Which of the following would you not expect to see in a vision statement?
Correct Answer

(D) What the organization seeks to do to reach desirable future states

Explanation

Solution: What the organization seeks to do to reach desirable future states is not expected to see in a vision statement.

[#180] What are the decisions and actions that determine long-run performance of an organization?
Correct Answer

(A) strategies

Explanation

Solution: Strategies are the decisions and actions that determine long-run performance of an organization. Strategic management therefore emphasizes the monitoring and evaluating of external opportunities and threats in lights of a corporation's strengths and weaknesses.