Reference no: EM132568275 , Length: word count:4000

MBA7002 Strategic Management - Gulf College

Part 1:

Question 1): The goal of strategic management is to ____

a) achieve competitive advantage.
b) maintain competitive advantage.
c) achieve and maintain competitive advantage.
d) eliminate competitive advantage.

Question 2): What are the main levels of an organisational strategy?

a) Corporate-level strategy
b) Business-level strategy
c) Functional strategy
d) All the above

Question 3): There are four ways in which organisations typically define their purpose _____, - _____, _____, and ______

a) A mission statement
b) A vision statement
c) Statement of corporate values
d) Objectives
e) Partnerships
f) All the above

Question 4): An organization should take a(n) ______ approach in its industry.

a) adversarial rather than a collegial
b) collegial rather than an adversarial
c) cooperative rather than a competitive
d) proactive rather than a reactive

Question 5): The strategic position is concerned with the impact on the strategy of the _____, ______, ______, and _____.

a) External environment
b) The organisation's strategic resources and capabilities
c) Logical; systematic; objective
d) Organisations goals
e) Intuitive; disorganized; objective
f) Organisations Culture

Question 6): A VRIO analysis helps to evaluate if, how and to what extent an organisation or company has resources and capabilities that are _____, _______, and _______.

a) Threshold resources and capabilities
b) Valuable
c) Rare
d) Inimitable,
e) Imitable
f) Supported by the organisation

Question 7): _______ resources and capabilities are those needed for an organisation to meet the necessary requirements to compete at all in a given market and achieve parity with competitors in that market.

a) Distinctive resources and capabilities
b) Threshold resources and capabilities
c) Scarce resources and capabilities
d) Unique resources and capabilities

Question 8): Porter's Five Forces Framework assists industry analysis and helps to identify industry attractiveness in terms of five competitive forces: ______, _______, ______, ______, and _____.

a) Extend of rivalry between competitors
b) Joint ventures
c) Threat of entry
d) Threat of substitutes
e) Power of buyers
f) Power of suppliers

Question 9): There are three essential elements in a business model ________, ________, and -_______.

a) Value share
b) Value creation
c) Value configuration
d) Value enhancement
e) Value capture

Question 10): The business model canvas's main objective is to help companies move beyond product-centric thinking and towards business model thinking. Identify nine building blocks of the model ______, _______, ______, _______, ______, _____, ______, and _____.

a) Key competitors
b) Key partners

c) Strategic stakeholders
d) Key activities
e) Strategic Business Unit (SBU)
f) Value Propositions
g) Customer relationships
h) Customer segmentations
i) Key resources
j) Non-strategic stakeholders
k) Channels
l) Cost Structure
m) Revenue Streams

Part 21:

Question 11): A business model describes a value proposition for customers and other participants, an arrangement of activities that produces this value and associated revenue and cost structures.
Critically evaluate three essential elements in a business model
1. Value creation
2. Value configuration
3. Value capture

Question 12): With reference to the business model CANVA briefly discuss the main role and objectives of the model in lens of nine building blocks.

Question 13): Compare and contrast Porter's Generic Strategies and Bowman's Strategy Clock models identifying examples of organisations following strategies of differentiation, low cost or low price, and stuck-in-the-middle or hybrid. How successful are these strategies?

Part 3:

Question 14): If organisations are to achieve competitive advantage by delivering value to customers, managers need to understand which activities their organisation undertakes that are especially important in creating that value and which are not. Critically evaluate Michael Porter's Value Chain model.

Question 15): For an industry or public service of your choice consider how the resources and capabilities that have been the basis of competitive advantage (or best value in the public sector) have changed over time. Why have these changes occurred? How did the relative strengths of different companies or service providers change over this period? Why? Did dynamic capabilities play any role? Which?

Question 16): Given internationalisation's complexity, international strategy should be underpinned by a careful assessment of trends in each particular market. George Yip's (2003) framework for analysing ‘drivers of globalisation' sees international strategy potential as determined by market drivers, cost drivers, government drivers and competitive drivers. Critically evaluate four drivers from the perspective of the various industries and sectors.

Question 17): You have been appointed a personal assistant to the chief executive of a major manufacturing ?rm, who has asked you to critically evaluate deliberate strategy and explain why understanding emerging strategy is important particularly when operating in dynamic environment. Write a brief report addressing these questions.

Question 18): Porter's Diamond suggests that locational advantages may stem from local factor conditions; local demand conditions; local related and supporting industries; and from local ?rm strategy structure and rivalry. Critically evaluate these four interacting determinants referring to relevant examples.