take my online exam for business strategy

There will be 60-65 M/C questions and 4-5 essay/short answer questions. Time limit will be two hours. Questions will appear one by one. Good luck!

CHAPTER 1

Define strategy (possible short answer)

What is competitive advantage? (Define sustainable competitive advantage)

Efficiency vs. Effectiveness

Deliberate vs. Emergent strategy (realized strategy)

What is business model? (possible essay question)

            Customer value proposition and profit formula

Three tests of a winning strategy

            The fit test, The Competitive Advantage Test, The Performance Test

CHAPTER 2

Stage 1

Developing a strategic vision

Communicating a strategic vision

Crafting a mission statement

Linking the vision and mission with company values

Stage 2

            Financial objectives vs. Strategic Objectives

            SMART Goal Setting (Specific, Measurable, Attainable, Reasonable, Timely)

Balance Scorecard (Customer, Financial, Internal Business and Learning and Growth Perspectives)

Stage 3

            Strategy Making at All Organizational Levels

            Corporate, Business, Functional and Operating Strategies

            Define Strategic Plan

Stage 5           

            Executing the strategy

Sage 6

            Evaluating Performance         

Define corporate governance (possible short answer)

Important obligations of Board of Directors (possible short answer)

CHAPTER 3

Components of Macro-Environment (Figure 3.2) (possible essay answer)

Define macro-environment (possible short answer)

Question 1: Does the industry offer attractive opportunities for growth?

Question 2: What kind of competitive forces are industry members facing, and how strong are they?

Porter 5 model (Rivalry among competitors, Threat of New Entrants, Threat of Substitute Products, Power of Buyers, Power of Suppliers)-(possible essay)-Figure 3.3

            Factors affecting the strength of each of these forces (Figure 3.4, 3.5, 3.6, 3.7, 3.8)

            Matching Company strategy to Competitive Conditions

Question 3: What factors are driving industry change, and what impacts will they have?

Question 4: How are industry rivals positioned-Who is strongly positioned and who is not?

            Define strategic group and strategic group mapping (what can be learned from it?)

Question 5: What strategic moves are rivals likely to make next?

            Resource similarity and market communality

            What is competitive intelligence?      

Question 6: What are the key success factors for future competitive success?         

            Define KSF

Question 7: Does the industry offer good prospects for attractive profits?

CHAPTER 4

How well is the company’s present strategy working?

Profitability Ratios (Gross profit margin, operating profit margin, ROA)

            Liquidity Ratios (Current Ratio)

            Leverage Ratios (Debt-to-asset ratio, Debt-to-equity ratio)

            Activity Ratios (Inventory Turnover)

What are the company’s competitively important resources and capabilities?

            Define resource and capability

Table 4-2

The four tests of resource’s competitive power (valuable, rare, hard to copy, hard to substitute)-(possible short answer)

Is the company able to seize market opportunities and nullify external threats?

            Define competence, core competence and distinctive competence

            How to perform SWOT Analysis (Strengths, Weakness, Opportunities, Threats)-­(possible essay)

            What do the SWOT Listings Reveal?

Are the company’s prices and costs competitive with those of key rivals, and does it have and appealing customer value proposition?      

            The concept of a Company Value Chain - (possible essay)

            Figure 4.3 (company value chain)- (possible essay)

            Value chain for the industry (4.4) - (possible essay)

            Define benchmarking

Improving the efficiency and effectiveness of internally performed and supplier-related value chain activities

            Translating proficient performance of value chain activities into competitive advantage

Question 5: Is the company competitively stronger or weaker than key rivals?        

CHAPTER 5

Five generic competitive strategies (overall low-cost, broad differentiation, focused low-cost, focused differentiation, best-cost provider)- (possible essay)

Advantages and disadvantages of each of these strategies

Impact of value chain activities for each of these strategies(possible essay)

When each of these strategies works best?

Cost driver vs. unique driver(possible short answer)

Table 5.1  is a good summary

CHAPTER 6

Choosing the Basis for Competitive Attack

Which Rivals should you attack?

Blue-Ocean Strategy (possible short answer)

Advantages and disadvantages of first-mover and late-mover

Define scope of the firm (vertical vs. horizontal scope)-(possible short answer)

Horizontal merger and acquisition strategies

Vertical integration (advantages and disadvantages)

Define outsourcing-(possible short answer)

Define strategic alliances (joint-venture) and discuss about the benefits and drawbacks