MGT 450 Strategic Planning for Organizations Week 2 Quiz

MGT 450 Strategic Planning for Organizations

Week 2 Quiz (All correct)

Question 1         

An entrepreneurial mindset is:

 Seeing things from a customer’s perspective

 Noticing a problem that exists

 Being able to state the problem clearly

 Finding opportunities

All of the above

Question 2

Which of the following cannot be deduced from a strategic-group map?

 Competitors that are strategically similar

 Market shares of individual competitors

 Areas of unserved demand

 Competitors that are not really competitors

 Entry barriers of different strategic groups

Question 3                         

Strategic thinking is best done during the annual strategic-planning process.

  True

 False

 Question 4                        

Which of the following is not an industry driving force?

Changes in the industry growth rate

Increasing pace of technological change

Increasing globalization of the industry

 Developing a core competence

Rising energy costs

Question 5

Finding a “blue ocean” or “situational monopoly” is a legitimate part of strategic thinking.

 True

False

Question 6                         

A company that is not actively pursuing opportunities won’t be in business very long.

 True

  False

Question 7                         

A situational monopoly is one of the following:

An instant monopoly

Something no other competitor has

An ownable space for a useful period of time

An opportunity to charge more than competitors

None of the above

Question 8                         

What is at the core of blue-ocean strategy?

Satisfying customers

Being differentiated

Value innovation

 Industry repositioning

None of the above

Question 9

Which of the following is not a barrier to entry?

 Distribution channels all tied up

 Ability to forge strategic alliances

High capital investment

 Developing a brand reputation

Competitors with lower costs

Question 10                      

Which factor is typically not included in an industry-attractiveness analysis?

Size of potential market

Industry growth rate

Size of entry barriers

 Financial strength

 Degree of competition