Question 1 Porter's 5 Forces framework does not give us all answers and may be criticized in many ways. True False Question 2 Which one of the following is not a primary task of strategic managers? A. Establishing strategic objectives B. Developing the steps to follow in implementing operational level plans C. Defining the business and developing a mission D. Developing a strategy E. Implementing and evaluating the chosen strategy Question 3 The fundamental role of strategy is to: A. Determine how the firm will make a profit in its industry environment: B. Determine how the firm will deploy its resources to satisfy its short-term financial goals C. Determine how the firm will deploy its resources to satisfy its long-term goals, given the conditions in the competitive environment D. Determine how the firm can organize its own activities and achieve dominance Question 4 "Industry attractiveness” in the five forces framework by Porter refers to: A. the appeal of the industry to a particular firm B. the extent to which the industry draws in new entrants C. potential overall industry profitability D. the potential for one firm to dominate the industry Question 5 Which of the following is the best example of competing on low-cost leadership? A. a firm produces its product with less raw material waste than its competitors B. a firm offers more reliable products than its competitors C. a firm's products are introduced into the market faster than its competitors' D. a firm's research and development department generates many ideas for new products E. a firm advertises more than its competitors
Question 1
Porter's 5 Forces framework does not give us all answers and may be criticized in many ways.
True
False
Question 2
Which one of the following is not a primary task of strategic managers?
A. Establishing strategic objectives
B. Developing the steps to follow in implementing operational level plans
C. Defining the business and developing a mission
D. Developing a strategy
E. Implementing and evaluating the chosen strategy
Question 3
The fundamental role of strategy is to:
A. Determine how the firm will make a profit in its industry environment:
B. Determine how the firm will deploy its resources to satisfy its short-term financial goals
C. Determine how the firm will deploy its resources to satisfy its long-term goals, given the conditions in the competitive environment
D. Determine how the firm can organize its own activities and achieve dominance
Question 4
"Industry attractiveness” in the five forces framework by Porter refers to:
A. the appeal of the industry to a particular firm
B. the extent to which the industry draws in new entrants
C. potential overall industry profitability
D. the potential for one firm to dominate the industry
Question 5
Which of the following is the best example of competing on low-cost leadership?
A. a firm produces its product with less raw material waste than its competitors
B. a firm offers more reliable products than its competitors
C. a firm's products are introduced into the market faster than its competitors'
D. a firm's research and development department generates many ideas for new products
E. a firm advertises more than its competitors
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