Strategic Planning Exam
Bank
Course Introduction
Strategic Planning is a comprehensive course designed to equip students with the theoretical knowledge and practical skills necessary to develop, implement, and evaluate effective organizational strategies. The course explores key concepts such as environmental analysis, goal setting, competitive advantage, and strategic decision-making. Through case studies, group projects, and real-world scenarios, students learn how to assess internal and external environments, formulate strategic objectives, and align resources to achieve long-term success. Emphasis is placed on critical thinking, analytical frameworks, and the ethical considerations involved in guiding organizations through complex and dynamic business landscapes.
Recommended Textbook
Strategic Management 6th Edition by Graham Hubbard
Available Study Resources on Quizplus
14 Chapters
557 Verified Questions
557 Flashcards
Source URL: https://quizplus.com/study-set/2371
Page 2
Chapter 1: What Is Strategy
Available Study Resources on Quizplus for this Chatper
40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/47066
Sample Questions
Q1) The essential question in strategy is to maximise profitability.
A)True
B)False
Answer: False
Q2) Ansoff's model of strategy proposed in his 1965 book on corporate planning was criticised because it:
A)is linear
B)relies on strong market signals
C)presumes that all strategic information is available to top management
D)presumes that the future is closely related to the past
Answer: B
Q3) In the business strategy model proposed by Hubbard,Rice and Galvin:
A)performance assessment comes before performance measurement
B)performance comes before implementation
C)implementation comes after gap analysis
D)decision-making comes after performance
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Analysing Business Strategy: Creating Value
Available Study Resources on Quizplus for this Chatper
41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/47067
Sample Questions
Q1) A mission statement is a statement that:
A)should be used instead of a vision statement
B)was always different from the vision statement
C)over time,became commonly focused on mundane matters
D)operationalises the vision statement for the current business situation
Answer: D
Q2) Who is more important for a strategic planner - shareholders or stakeholders? Comment.
Answer: Traditionally,many managers,analysts and strategists argue that the organisation is owned by the shareholders and so it should be run for the benefit of the shareholders only.This was supported by the theory of the firm,or the shareholder value theory,which assumes that shareholders are the only key stakeholders and everything should be done to maximise value for shareholders.However,the importance and role of other key stakeholders (such as employees,communities)apart from shareholders is now widely accepted.The behavioural theory assumes that a variety of stakeholders exist,with varying degrees of power,who are able to influence the strategy of the organisation.Thus,strategic planners these days consider all the key stakeholders as opposed to only shareholders in their strategic thinking,analysis and action.
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Analysing the External Environment
Available Study Resources on Quizplus for this Chatper
43 Verified Questions
43 Flashcards
Source URL: https://quizplus.com/quiz/47068
Sample Questions
Q1) The factors that influence the bargaining power of suppliers include:
A)access to distribution
B)government policy
C)decision makers' incentives
D)brand identity
Answer: C
Q2) In the 'maturity' stage of the industry life cycle,the issue is:
A)how to manage industry position
B)how to manage markets and assets
C)how to grow
D)how to avoid decline
Answer: B
Q3) In an industry analysis in the public sector it is NOT relevant to ask:
A)How does this influence group affect our organisation?
B)Why does this influence group affect our organisation?
C)When will we feel the affect of this influence group on our organisation?
D)What gives this influence group power to affect our organisation?
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Analysing the External Environment
Available Study Resources on Quizplus for this Chatper
41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/47069
Sample Questions
Q1) Hubbard,Rice and Galvin recommend identifying cost drivers by:
A)looking at the cost structure by broad category of expense
B)looking at the useful information provided by functional costing
C)establishing a value chain or set of activities that the organisation performs
D)none of the above
Q2) One of the challenges of strategic management is finding agreement in terms of a common terminology of capabilities.
A)True
B)False
Q3) Strengths in the traditional SWOT analysis do not usually address the test of 'better than most competitors',which is a crucial test for competitive advantage.
A)True
B)False
Q4) Describe the links between resources,capabilities and strategic capabilities.
Q5) How does the emergence of sustainability as a macro-environment issue affect the analysis of organisational capabilities?
Q6) Why is it so difficult to identify strategic capabilities within organisations? What should be used for this search?
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Measuring Strategic Organisation Performance
Available Study Resources on Quizplus for this Chatper
37 Verified Questions
37 Flashcards
Source URL: https://quizplus.com/quiz/47070
Sample Questions
Q1) The balanced scorecard approach rejects the importance of the shareholder value approach.
A)True
B)False
Q2) Criteria for an organisation to be chosen for the Collins and Porras study did NOT include that it:
A)had to be the premier institution in its industry
B)be widely admired by knowledgeable business people
C)had made an 'indelible imprint' on the world
D)had the same CEO
Q3) The 'total shareholder return' approach is more stable in an absolute sense on an annual basis.
A)True
B)False
Q4) The set of dimensions of the 'performance cube' is:
A) power of buyers,power of suppliers,barriers to exit
B) industry recipe,organisation type,organisation position
C) industry recipe,organisation posture,organisation position
D)inbound logistics,marketing,financial strength
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: GAP Analysis and Business-Level Strategic Options
Available Study Resources on Quizplus for this Chatper
41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/47071
Sample Questions
Q1) Which of the following is NOT a key element of 'blue ocean' strategy developed by Kim and Mauborgne?
A)Creating or finding uncontested market space by seeking opportunities based on customer needs,and what competitors currently do
B)Making the competition irrelevant by offering new and different products that cross industry boundaries
C)Creating and capturing new demand
D)Pursuing differentiation and low cost simultaneously
Q2) Adding product features is an example of seeking growth in existing product markets.
A)True
B)False
Q3) What may well be the real 'growth' issue in public sector organisations?
A)Inflation
B)Budgeting
C)Human resources
D)Power
Q4) Describe how different key issues regarding stakeholder involvement for public sector strategy setting impact implementation outcomes.
8
To view all questions and flashcards with answers, click on the resource link above.
Chapter 7: Strategic Decision-Making
Available Study Resources on Quizplus for this Chatper
38 Verified Questions
38 Flashcards
Source URL: https://quizplus.com/quiz/47072
Sample Questions
Q1) Complete the statement 'Rational decision-making is based on a ___ approach (i.e.how decisions ___ made).This contrasts with a ___ approach.'
A)positivist,might be,normative
B)normative,should be,and intuitive
C)reasonable,are actually,positivist
D)deductive,might theoretically be,inferential
Q2) A 'rational' decision implies a 'good' decision.
A)True
B)False
Q3) The group of individual factors suggested as limitations on rational decision-making do NOT include:
A)bounded rationality,ethics,emotions
B)ambiguity,reality
C)interpretation,intuition
D)decision-making rules
Q4) Rational decision-making is based on prescriptive approach.
A)True
B)False
Q5) What are the steps in the development of good strategy?
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Dynamic Competitive Strategy
Available Study Resources on Quizplus for this Chatper
39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/47073
Sample Questions
Q1) While many strategies can be successful in emerging and growing industries,there are few approaches that can be successful in declining industries.
A)True
B)False
Q2) 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
Q3) D'Aveni postulated that 'hypercompetition' arises when:
A)disequilibrium and rapid change by players create constant dynamic movement
B)rapid disequilibrium movement by key players creates dynamic changes
C)rapidly changing environment creates dynamic disequilibrium and movement by players
D)dynamic movement by players creates constant disequilibrium and rapid change
Q4) One of the main principles of game theory is to consider the unexpected reactions of the competitors.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Corporatemulti-Business Strategy
Available Study Resources on Quizplus for this Chatper
40 Verified Questions
40 Flashcards
Source URL: https://quizplus.com/quiz/47074
Sample Questions
Q1) Compare the BCG and GE tools and contrast their relative strengths and weaknesses as analytical devices.
Q2) The McKinsey model's 'three horizons' do NOT include:
A)business ideas: create viable options to convert to emerging businesses
B)emerging business: to become major future businesses
C)blue sky business: brainstorm and skunkworks to generate potential viable options
D)current business: defend and extend
Q3) Product development strategy allows organisations to increase market share for new products in new markets.
A)True
B)False
Q4) What are the differences in the answers of corporations with closely related industries versus those with dispersed industries to the following fifth business strategy question: What position does the corporation want to achieve?
Q5) Briefly describe the advantages claimed for the diversified corporation over the single business.
Q6) What are the possible reasons for a single business wanting to diversify?
Q7) Explain why,if businesses are interlinked,the coordination costs are a concern.
Page 11
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Acquisitions and Alliances
Available Study Resources on Quizplus for this Chatper
41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/47075
Sample Questions
Q1) The objective of preservation acquisition is to preserve the green credentials of the acquired organisation.
A)True
B)False
Q2) In many industries,the winners will be the companies that:
A)avoid joint ventures because they are difficult to manage
B)only form partnership with companies which know how to manage joint ventures successfully
C)outsource the management of joint venture
D)most quickly learn to manage joint venture effectively
Q3) The internationally used term 'M&A' recognises that there are few practical differences between mergers and acquisitions.
A)True
B)False
Q4) Consider the distinct steps of the acquisition process and explain if all steps are equally important.
Q5) Identify the reasons for creating joint ventures.
Q6) Briefly explain the care that should be taken in accomplishing the deal when establishing an alliance.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: International Strategy
Available Study Resources on Quizplus for this Chatper
35 Verified Questions
35 Flashcards
Source URL: https://quizplus.com/quiz/47076
Sample Questions
Q1) The four alternative approaches to managing international strategy are:
A)transglobal,export,international,multi-domestic
B)multi-domestic,global,transnational,export
C)global,multi-country,transnational,import
D)export,multi-domestic,international,transport corridor
Q2) You are the manager of a firm producing high-technology medical equipment in New Zealand.What entry mode will you adopt for internationalisation and why?
Q3) Discuss the two main reasons for the rapid implementation of internationalisation of business.
Q4) In an integrated network,technical expertise tends to reside in the firm's head office.
A)True
B)False
Q5) Why do you think that most firms that focus on climate change tend to have policies relating to carbon mitigation?
Q6) Briefly discuss how cultural differences can make international expansion more difficult.
Q7) At the individual firm level,what are the factors that drive a firm to expand internationally?
13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Capabilities, Systems and Structure
Available Study Resources on Quizplus for this Chatper
39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/47077
Sample Questions
Q1) 'The role and importance of performance-based reward systems in affecting the behaviour has changed.' Comment.
Q2) Whatever an organization's current level of capabilities,there is no way to improve them because static execution is deeply-rooted.
A)True
B)False
Q3) General systems theory argues that most ___ that occur are the result of ___ problems,not just the ___ that we observe.
A)incidents,deliberate,accidents
B)problems,systemic,symptoms
C)symptoms,underlying,incidents
D)accidents,collateral,outcome
Q4) Quinn et al.suggested four different structures for knowledge-based organisations:
A)infinitely flat,inverted,spider's web,starburst
B)spider man,infinitely curved,overturned,sunshine
C)starburst,inverted,dynamic cobweb,simply flat
D)spider's web,mind map,nodal,sunray
Q5) Is outsourcing an ethical practice? Discuss.
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Leadership, People and Culture
Available Study Resources on Quizplus for this Chatper
43 Verified Questions
43 Flashcards
Source URL: https://quizplus.com/quiz/47078
Sample Questions
Q1) A leader might go about changing culture by:
A)delegating the task of role modelling deep into the organisation
B)reacting to critical incidents by finding a culprit
C)using the recruitment and promotion system to place people with commitment to established culture
D)using the induction system to impress the culture on new people as they join
Q2) Kotter's list of leadership attributes and processes does not include:
A)setting a direction for the organisation
B)developing a strategic orientation for the organisation
C)aligning people with the direction
D)motivating people to carry out the direction
Q3) Hubbard,Rice and Galvin suggest that the common requirements of leadership are:
A)articulate the vision and culture,passion and commitment,actions are important,be in touch,develop rewards
B)tell stories,make important decisions,touch people,impose penalties,hide emotions
C)commitment to a cause,self-importance,be a soft touch,develop stories,settle scores
D)power and authority,symbolic actions,common touch,penalise failure,reward stories
To view all questions and flashcards with answers, click on the resource link above.
Page 15
Chapter 14: Change Management
Available Study Resources on Quizplus for this Chatper
39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/47079
Sample Questions
Q1) Explain punctuated equilibrium change and what the model suggests regarding change in industries.
Q2) Change always involves more rewards to match extra work.
A)True
B)False
Q3) Hubbard,Rice and Galvin describe the 'punctuated equilibrium model' of change as:
A)the engagement,simultaneously,in both incremental and transformational processes
B)a choice,at any one time,between incremental and transformational processes
C)successful negotiation of periods of equilibrium that lead back into change
D)suggesting that incremental and transformational change are inimical
Q4) Directive change management does not support retrenchment of employees.
A)True
B)False
Q5) A learning perspective views change as:
A)occurring through a series of leaps of faith
B)using feedback to inform previous actions
C)achieving only small results from large steps,due to resistance to change
D)using feedback to alter the organisation's behaviour
To view all questions and flashcards with answers, click on the resource link above. Page 16