Business Planning
Mock Exam
Course Introduction
Business Planning is a comprehensive course that introduces students to the essential concepts and practices required to develop, analyze, and implement effective business plans. The course covers the stages of idea generation, market analysis, strategic planning, financial forecasting, operational planning, and risk assessment. Through case studies, practical exercises, and project work, students learn to craft detailed business plans that address real-world challenges and opportunities, equipping them with the skills necessary to launch new ventures or drive growth within existing organizations. Emphasis is placed on integrating theory with practical application, fostering critical thinking, and developing persuasive communication skills for presenting business proposals to diverse stakeholders.
Recommended Textbook
Strategic Management 5th Edition by Graham Hubbard
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449 Verified Questions
449 Flashcards
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Page 2
Chapter 1: What is strategy?
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34 Verified Questions
34 Flashcards
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Sample Questions
Q1) Which one of the following is NOT a corporate strategy of Rio Tinto?
A) improving the accounting function of mining business
B) being a worldwide leader in finding, mining and processing mineral resources
C) operating in an ethically and socially responsible manner
D) delivering high shareholder returns
Answer: A
Q2) De Geus argued that the main reason most organisations did not survive for very long was that they had:
A) limited experience
B) poorly trained employees
C) outdated technology
D) a learning disability
Answer: D
Q3) The Boston Consulting Group (BCG)developed a 2 x 2 business portfolio matrix.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Analysing business strategy: creating value
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35 Flashcards
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Sample Questions
Q1) Petris argues that public sector organisations can be divided into three types except those:
A) concerned with profit maximisation
B) setting directions
C) transforming directions into specific policies and programs
D) implementing policies and programs
Answer: A
Q2) Tests for a good business strategy do NOT include the requirement that the strategy:
A) creates value for customers
B) will confuse competitors
C) is unique compared with competitors
D) is enduring
Answer: B
Q3) Strategy refers to those decisions that have a medium- to long-term impact on the activities of the organisation.
A)True
B)False
Answer: True
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Chapter 3: Analysing the external environment
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33 Flashcards
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Sample Questions
Q1) A 'five forces' analysis will suggest that profitability should be high when:
A) all five forces are high
B) all five forces are low
C) the two 'powers' cancel out the two 'threats'
D) industry rivalry is intense
Answer: B
Q2) Porter claims that ___ contribute(s)to intensity of industry rivalry:
A) barriers to exit
B) switching costs
C) absolute cost advantage
D) differentiation of outputs
Answer: A
Q3) Industry analysis aims to answer the question:
A) What are the forces within an industry that determine its size?
B) Based on these forces, what is the current and likely future number of firms in the industry?
C) How are the forces changing and expected to change, over time?
D) How will those changes affect the future size of the industry?
Answer: C
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Page 5
Chapter 4: Analysing the organisations resources and capabilities
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Sample Questions
Q1) Hubbard,Rice and Galvin do NOT suggest getting competitor intelligence by:
A) talking to customers and competitors' customers
B) visiting competitors' premises and going through their rubbish for confidential documents
C) 'reverse engineering' a competitor's product or service
D) talking to people employed in the industry
Q2) Non-substitutable and exploitable are two additional elements of the framework for evaluating capabilities.
A)True
B)False
Q3) The definition of 'strategic capabilities' does NOT require that they:
A) create value for customers
B) create value for shareholders
C) are better than those of most competitors
D) are difficult to imitate or replicate
Q4) Leonard's findings about the ability to innovate did NOT include:
A) outsourcing problem solving for greater efficiency
B) implementing new methodologies
C) experimenting and prototyping
D) learning from the market
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Chapter 5: Measuring strategic organisation performance
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Sample Questions
Q1) The 'performance measurement cube' extends the balanced scorecard approach.
A)True
B)False
Q2) Peters and Waterman defined 'excellent' companies as:
A) large and continuously innovative
B) specialised and medium sized
C) large US multi-national in services sector
D) large, diversified manufacturing
Q3) The triple bottom line process involves the measurement of profits,costs and environment.
A)True
B)False
Q4) In the environment area,the main measures that are emerging include:
A) CO2 emissions, greenhouse gas emissions, water use, customer satisfaction
B) CO2 emissions, greenhouse gas emissions, water use, biodiversity reduction
C) greenhouse gas emissions, water use, customer satisfaction, biodiversity reduction
D) greenhouse gas emissions, water use, cost savings, biodiversity reduction
Q5) Explain the differences between the 'shareholder and stakeholder value approaches' to measuring strategic performance.
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Chapter 6: Gap analysis and business-level strategic options
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Sample Questions
Q1) A current competitive strength may disappear because of:
A) future competitor responses
B) changes in technology
C) the organisation's own complacency
D) all of the above
Q2) The 'focus strategy' is most relevant to small organisations.
A)True
B)False
Q3) The leader strategy suggested by the TQM movement combines:
A) differentiation and high quality
B) differentiation and low cost
C) disaggregation and low quality
D) disaggregation and low cost
Q4) In order to adopt 'premium pricing' strategy,it is important not to view organisational products and services as 'commodities'.
A)True
B)False
Q5) 'Porter's three "generic" strategies oversimplify the strategic choices available to organisations.' Comment.
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Chapter 7: Strategic decision making
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Sample Questions
Q1) 'If a critical decision has to be made,give me a strong leader over a senior management committee any day!' Do you agree or disagree? Discuss and give reasons for your answer.
Q2) In relation to cognitive maps:
A) their use avoids the need for personal experience, both actual and educational B) managers try to interpret events in ways that make them consistent with pre-existing beliefs
C) if an event is too much like prior experience, wrong conclusions may be drawn D) industry recipes have been developed to cover only those facts relevant to an industry
Q3) According to Tichy and Bennis,good decision makers do NOT do which of the the following?
A) engage and energise stakeholders
B) cut through complexity to get to the issue
C) stay involved during execution
D) analyse the industry structure
Q4) Cognitive maps have blind spots.
A)True
B)False
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Chapter 8: Dynamic competitive strategy
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Sample Questions
Q1) Nalebuff and Brandenburger have argued that organisations should be hostile to all competitors.
A)True
B)False
Q2) Hubbard,Rice and Galvin suggest that in respect of green sustainability issues,many organisations adopt:
A) an 'imitating others' approach
B) a proactive approach
C) a short-cut approach
D) a 'wait and see' approach
Q3) Tactics are best designed to have their own effect rather than affecting the perceptions.
A)True
B)False
Q4) Hubbard,Rice and Galvin describe the prisoner's dilemma as a:
A) one-player, single payout objective, two-shot, simultaneous action game
B) sequential action, two-player, multiple payoffs, shotgun game
C) single playoff, multiple objectives, subjective action
D) one-shot, two-player, sequential action, single payoff objective game
Q5) Consider the relevance of game theory in understanding business strategy.
Page 10
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Chapter 9: Corporate/multi-business strategy
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Sample Questions
Q1) According to Aw and Eng,diversification in Asia compared to Europe leads to different performance.
A)True
B)False
Q2) According to Hubbard et al.there is only one way in which capabilities can be transferred across the business portfolio.
A)True
B)False
Q3) Capability-based diversification comprises three ways in which capability can be transferred:
A) parent to new business, old business to new business, new business to old business
B) parent to old business, old business to new business, new business to old business
C) parent to new business, old business to old business, new business to new business
D) all of the above
Q4) Discuss any two advantages offered by a parent organisation to a new business.
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Chapter 10: Acquisitions and alliances
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Sample Questions
Q1) In cross-border acquisitions,due diligence should only focus on cultural compatibility issues.
A)True
B)False
Q2) The reason for using M&A for most diversification is that it is a much faster process of growth and expansion.
A)True
B)False
Q3) Hubbard,Rice and Galvin define an acquisition as:
A) the sale of 50.1% of shares by an organisation on floatation
B) a mutually agreed consolidation under joint ownership of two organisations
C) the purchase of enough shares to obtain decision-making control over an organisation
D) majority ownership by 51% of directors
Q4) Anslinger and Copeland's study of leveraged buyouts and diversified corporations showed that:
A) they were classified as unrelated from a resource-based perspective
B) they produced high sharemarket returns from strategies of making acquisitions
C) they were classified as related from a product-market perspective
D) they produced low sharemarket returns from strategies of making acquisitions
Page 12
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Chapter 11: International strategy
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Sample Questions
Q1) In segmenting markets in countries abroad,all of the following fundamental questions must be addressed except:
A) Is there a market segment in the potential export market that will value the product characteristics of the exporter's product?
B) Does the segment have various customers groups?
C) Is this market segment large enough to justify the costs of exporting?
D) Is this segment adequately served by existing domestic producers or other exporters?
Q2) Franchising is a variation on licensing as an entry mode into the international market.
A)True
B)False
Q3) The outward-looking perspective of internalisation includes all of the following except:
A) exporting
B) managing as the wholly owned subsidiary of a foreign firm
C) establishing joint ventures outside the home country with foreign companies
D) acting as licensor to a foreign company
Q4) Describe the four alternative approaches used to manage worldwide operation.
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Chapter 12: Capabilities,systems and structure
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Sample Questions
Q1) Nohria et al.concluded that it did not matter which particular structural form was used.What mattered was:
A) that the structure simplified the process of dealing with other organisations
B) that the structure enhanced cooperation and exchange of knowledge across the company
C) that the structure established systems for seamless knowledge sharing D) that the best people were not exposed to the front line
Q2) Information systems determine what the organisation is told about what is happening.
A)True
B)False
Q3) Compare and contrast the McKinsey 7S model of strategic implementation with Hubbard et al.'s 'winning wheel'.
Q4) A network organisation works closely with other organisations to produce its own outputs.
A)True
B)False
Q5) Capabilities can be improved by improving activities,functions and systems. A)True
B)False
14
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Chapter 13: Leadership,people and culture
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Sample Questions
Q1) The main elements of culture include:
A) rites of passage, rules, symbols, stories and beliefs, strategies and structures, values and morals
B) fact and fiction, value and merit, routings, rituals, rules, symbols, illusion and reality
C) rules, symbols, stories and myths, systems and structures, values and beliefs, routines, rituals
D) illusion and reality, structure and strategy, routines, symbols, morals and ethics, ritual magic
Q2) Sustainability is not an element of implementation,but a criterion for:
A) decision making about board choices
B) decision making about implementation choices
C) decision making about leadership choices
D) decision making about strategy choices
Q3) Hubbard et al.'s concept of 'captain-coach' is inconsistent with the idea of 'Management by Walking Around'.
A)True
B)False
Q4) 'Leaders are born,not made.' Discuss the validity of this statement.
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Page 15
Chapter 14: Change management
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) Kotter considers declaring victory too soon to be one of the reasons for the failure of transformation change management.
A)True
B)False
Q2) The process of change management can be approached from three different theoretical perspectives:
A) ratio analysis approach, learning outcome, cognitive behaviour
B) cognitive therapy, rational perspective, learning by doing
C) learning perspective, cognitive perspective, rational approach
D) rationing perspective, cogwheel methodology, learning approach
Q3) Directive change management does not support retrenchment of employees.
A)True
B)False
Q4) The cognitive perspective encompasses those who believe in a political perspective.
A)True
B)False
Q5) Briefly describe the variables that a general model of the process of change management needs to consider.
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