Famous Strategist and their Contribution Flashcards
Who is considered the father of strategic management?
Henry Mintzberg
What is the main focus of Michael Porter’s competitive strategy?
To gain a competitive advantage in the market.
True or False: BCG Matrix is used for portfolio analysis.
True
Fill in the blank: The _____ model is used to analyze the competitive forces within an industry.
Five Forces
What strategy is associated with Igor Ansoff?
Ansoff Matrix
Which strategist is known for the concept of ‘Blue Ocean Strategy’?
W. Chan Kim and Renée Mauborgne
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
Which strategic approach emphasizes cost leadership?
Michael Porter’s cost leadership strategy
True or False: Strategic planning is a one-time event.
False
What does the ‘T’ in SWOT analysis stand for?
Threats
Which strategy focuses on differentiation of products?
Differentiation Strategy
Who developed the concept of ‘Core Competencies’?
C.K. Prahalad and Gary Hamel
What is the primary purpose of a mission statement?
To define the organization’s purpose and primary objectives.
Fill in the blank: The _____ framework helps organizations align their resources with their strategic goals.
Balanced Scorecard
Which strategist is known for the ‘Value Chain’ concept?
Michael Porter
What does PEST analysis focus on?
Political, Economic, Social, and Technological factors
True or False: A strategic alliance is a legally binding contract.
False
What is the main goal of strategic management?
To achieve long-term organizational goals and objectives.
Which strategy involves entering new markets with existing products?
Market Development Strategy
Who introduced the concept of ‘Strategic Intent’?
Gary Hamel and C.K. Prahalad
Fill in the blank: The _____ strategy focuses on acquiring or merging with other companies.
Growth
Which framework aids in assessing internal and external environments?
SWOT analysis
What is the significance of the ‘Value Proposition’ in strategic management?
It defines the unique value a product or service provides to customers.
True or False: The strategic management process is linear and does not require adjustments.
False
What is meant by ‘Sustainable Competitive Advantage’?
An advantage that cannot be easily replicated or surpassed by competitors.
Which strategist emphasized the importance of adapting to changing environments?
Henry Mintzberg
