Chapter 1

Question 1

What are the three Horizons for strategy?

Answer 1

1. Extend and defend core business
2. Build emerging businesses
3. Create viable options

Question 2

Strategy statements should have these three main themes

Answer 2

1. Goals
2. Scope
3. Advantages or capabilities

Question 3

What are strategy’s three branches?

Answer 3

1. Context
2. Content
3. Process

Question 4

Context

Answer 4

Internal and External

Question 5

Content

Answer 5

Strategic Options

Question 6

Process

Answer 6

Formation and implementation

Question 7

What is the Strategic Position concerned with?

Answer 7

• external environment
• strategic capabilities
• goals
• culture

Question 8

Strategic Choices involves

Answer 8

directions in which strategy might move and the methods by which strategy might be pursued

Question 9

Strategy in Action involves

Answer 9

how strategies are formed and how they are implemented

Question 10

Strategy Lenses

Answer 10

ways of looking at strategy issues differently in order to generate many insights

Question 11

What is Corporate-level Strategy concerned with?

Answer 11

concerned with an organization’s overall scope

Question 12

What is Business-level Strategy concerned with?

Answer 12

concerned with how to compete

Question 13

What is Operational-level Strategy concerned with?

Answer 13

concerned with how resources, processes and people deliver corporate and business level strategy

Question 14

What are the four strategy Lenses

Answer 14

design, experience, variety, and discourse

Question 15

Fundamental questions for Strategic Position

Answer 15

• What are the environmental opportunities and threats?
• What are the organisation’s strengths and weaknesses?
• What is the basic purpose of the organisation?
• How does culture shape strategy?

Question 16

Fundamental questions for Strategic Choice

Answer 16

How should business units compete?
• Which businesses to include in the portfolio?
• Where should the organisation compete internationally?
• Is the organisation innovating appropriately?
• Should the organisation buy other companies, form alliances or go it alone?

Question 17

Fundamental questions for Strategy in Action

Answer 17

Which strategies are suitable, acceptable and feasible?
• What kind of strategy-making process is needed?
• What are the required organisation structures and systems?
• How should the organisation manage necessary changes?
• Who should do what in the strategy process?

Question 18

Strategy as design is

Answer 18

a logical process and evaluations

Question 19

Strategy as experience is

Answer 19

assumptions and taken for granted way of doing things

Question 20

Strategy as Variety is

Answer 20

ideas generated from the variety of people in and around the organization

Question 21

Strategy as Discourse is

Answer 21

managers seeking power through the language they use