Strategic Management - Study Mode
[#196] Information is defined by Lucas (1976) as
Correct Answer
(B) some tangible or intangible entity that reduces uncertainty about a state or event
Explanation
Solution: Information is defined by Lucas (1976) as some tangible or intangible entity that reduces uncertainty about a state or event.
[#197] Porter's generic strategies are
Correct Answer
(B) Cost leadership, differentiation, cost focus, focus differentiation
Explanation
Solution: Porter's generic strategies are cost leadership, differentiation, cost focus, focus differentiation. Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope. There are three/four generic strategies, either lower cost, differentiated, or focus.
[#198] Which of these is not a key stakeholder that an organization must seek to satisfy?
Correct Answer
(A) Managers
Explanation
Solution: Managers is not a key stakeholder that an organization must seek to satisfy. A manager is a person who is responsible for a part of a company, i.e., they 'manage' the company.
[#199] Who can be considered as the main stakeholders for London Zoo?
Correct Answer
(B) Visitors
Explanation
Solution: Visitors can be considered as the main stakeholders for London Zoo.
[#200] In Porter's generic strategies model, a focus strategy involves
Correct Answer
(B) selling to a narrow customer segment
Explanation
Solution: In Porter's generic strategies model, a focus strategy involves selling to a narrow customer segment. Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope. There are three/four generic strategies, either lower cost, differentiated, or focus.