Strategic Management - Study Mode

[#201] What common, related problem do for non-profit organizations such as the British Museum and the National History Museum often face?
Correct Answer

(A) Costs associated with repairs and maintenance

Explanation

Solution: Costs associated with repairs and maintenance are common, related problem do for non-profit organizations such as the British Museum and the National History Museum often face.

[#202] A question for business level strategy would be
Correct Answer

(C) How should the business compete in its market?

Explanation

Solution: A question for business level strategy would be How should the business compete in its market?

[#203] Which of the following is not a way in which organizations can behave more ethically and socially responsibly?
Correct Answer

(B) By lowering prices to their targeted market, to stimulate demand and increasing profit by increases in productivity to meet customer demands

Explanation

Solution: By lowering prices to their targeted market, to stimulate demand and increasing profit by increases in productivity to meet customer demands is not a way in which organizations can behave more ethically and socially responsibly.

[#204] The term corporate strategy concerns strategy and strategic decisions
Correct Answer

(B) At all levels in an organization

Explanation

Solution: The term corporate strategy concerns strategy and strategic decisions at all levels in an organization. Corporate strategy is hierarchically the highest strategic plan of the organization, which defines the corporate overall goals and directions and the way in which will be achieved within strategic management activities. It is a long-term, clearly defined vision of the direction of a company or organization.

[#205] Ansoff's growth vector matrix is used for
Correct Answer

(A) analyzing the different strategic directions an organization can pursue

Explanation

Solution: Ansoff's growth vector matrix is used for analyzing the different strategic directions an organization can pursue. The Ansoff Matrix, also called the Product/Market Expansion Grid, is a tool used by firms to analyze and plan their strategies for growth.