PM4 mock exam 2

Question 1

The exploring strategy framework. The one with the three big circles. The model consists of:
a) strategic position, strategic choiches, strategy in action
b) strategic view strategic positioning, strategy in action
c) strategic setting, stratgey in action, strategic choices

Answer 1

A

Question 2

What is the name of the the type of forcast with the lowest uncertainty level:
a) simple forecast
b) one-way forecast
c) single-point forecast

Answer 2

C

Question 3

Ansoff’s product/market growth marix classifies four corporate strategies for growth, market penetration, market development, product development, conglomerate diversification. Which of the following is not correct:
a) diversification involves increasing the range of products
b) market development involves offering existing products to new markets
c) product development involves offering new products in new markets
d) market penetration involves offering an existing product in an existing market

Answer 3

C

Question 4

When Apple oppened retail stores to sell its computers and ipods, this was and example of:
a) forward vertical intergation
b) backward vertical integration
c) forward horizontal integration

Answer 4

A

Question 5

The BCG or growth share matrix defines four types of businesses Stars, Cash Cows, dogs and:
a) Question marks
b) Opportunities
c) Alliances

Answer 5

A

Question 6

Qhich of the following statements is incorrect:
a) a merger is the combination of two previously separate organizations
b) an acquisition is when one organization takes control by majority of shares
c) an alliance is when organizations have the same goal, but don’t share resources

Answer 6

C

Question 7

A ………. strategy combines high pressure for local responsiveness with high pressure for global intergation:
a) multinational
b) transnational
c) Global

Answer 7

B

Question 8

A functional structure is based on
a) roles
b) products
c) locations

Answer 8

A

Question 9

The Balanced Scorecard by kaplan is used by organizations to set performance targets from more than the financial perspective only. Why?:
a) to keep shareholder informed
b) to ensure that managers do not only focus on one set of targets at the expense of others
c) to monitor the qualty of employees

Answer 9

B

Question 10

when looking at Quinn & Cameron’s “Competing value framework”:
a) Nike is a good example of “Clan” organization
b) Nike is a good example of “Market” organization
c) Nike is a good example of “Hierarchy” organization

Answer 10

A

Question 11

Competitive strategy is:
a) about how a company, business unit or organization creates value for its users greater than the costs of suppying them and supperior to that of rivals
b) Concerned with how a company, business unit or organization achieves competitive advantage in its domain of activity
c) Becomes the lowest-cost organization

Answer 11

B

Question 12

Differentiation strtaegy:
a) involves uniqueness along some domains that is sufficiently valued by customers to allow a premium price
b) targets a narrow segment or domain of activity and tailours its produsts/services to the needs of that specific segment to the exclusion of others
c) Combines different generic strategies

Answer 12

A

Question 13

The Brazilian steel producer CSN with its cheap iron-ore sources is able to charge the average steel prices and take the cost difference in greater profit. This means that CSN is:
a) cost-leader with parity
b) cost-leader with proximity
c) a differentiator

Answer 13

A
cost-leader with proximity is slightly lower quality with a slightly lower price and still make higher profits

Question 14

Which statement is true:
a) Game theory encourages an organization to concider competitors’ likely moves and the imlications of these moves for its own strategy
b) Game theory is particularly relevant when competitors are independant
c) One of the most famous illustrations of mathematical game theory is the VRIO analysis

Answer 14

A

Question 15

A business model describes a value proposition for customers and other participants, an arrangement of activities that produce value, associated revenue and cost structure. The 3 fundamnetal elements of business models are:
a) Value creation, configuration and capture
b) Mission, vision and values
c) Functional, divisional and matrix structure

Answer 15

A

Question 16

Whithin the 7S model the question “Do the core competences lead to a competitive advantage?” Can be related to which S:
a) Strategy
b) skills
c) Structure

Answer 16

B

Question 17

The 7S model by McKinsey is a tool to help with the analysis of a company. These 7S can be divided into so called hard elements and soft elements. Which are the soft elements?
a) Skills, style, staff
b) skills, shared values, strategy
c) structure, strategy, systems

Answer 17

A

Question 18

in strategic management there are different schools of thought, one of them is the perspective approach. Which statement best fits the emergent approach
a) a combination of planning and adjustments over time
b) aims at achieving a fit between an organization’s strategy and its environment
c) The creation of a unique and valuable position involving a different set of activities

Answer 18

A

Question 19

in strategic management there are different schools of thought, one of them is the perspective approach. Which statement best fits the perspective approach
a) a combination of planning and adjustments over time
b) aims at achieving a fit between an organization’s strategy and its environment
c) The creation of a unique and valuable position involving a different set of activities

Answer 19

B

Question 20

in strategic management there are different schools of thought, one of them is the perspective approach. Which statement best fits the competitive positioning approach
a) a combination of planning and adjustments over time
b) aims at achieving a fit between an organization’s strategy and its environment
c) Outside-in, focus on environment and how to compete

Answer 20

C

Question 21

in strategic management there are different schools of thought, one of them is the perspective approach. Which statement best fits the resource, competence and capabilities approach
a) a combination of planning and adjustments over time
b) aims at achieving a fit between an organization’s strategy and its environment
c) The creation of a unique and valuable position involving a different set of activities
d) inside-out, focuses on core competencies

Answer 21

D

Question 22

One step in the strategic cycle is the GAP analysis. What does the gap analysis show?
a) the gap between desired perforamnce and achieved performance
b) the gap between achieved performance and projected performance
c) the gap between desired performance and projected performance

Answer 22

C

Question 23

Which of the following SWOT analysis elements are internal factors for a business?
a) strenghts and weaknesses
b) weaknesses and threats
c) Opportunities and Threats

Answer 23

A

Question 24

What is the purpose of a confrontation matrix?
a) to create a mission and vision
b) to match internal aspects and external sapects to find possible strategix options
c) to create a SWOT analysis

Answer 24

B

Question 25

in a confrontation matrix, combining a threat with a strenght should lead to which strategy?
a) Defend
b) Reinforce
c) withdraw

Answer 25

A

Question 26

All of the following are elements of PESTEL macro-environmental analysis except:
a) techonolgical issues
b) political issues
c) industrial issues

Answer 26

C

Question 27

alternative future forcasting is used when:
a) the level of uncertainty is low
b) the level of uncertainty is medium
c) the level of uncertainty is high

Answer 27

C

Question 28

PESTEL is:
a) a model to analyse competitiors
b) a framework to conduct a macro-environmental analysis
c) a framework to analyse the industry

Answer 28

B

Question 29

Whithin the five forces framwork, the most common threats that emerge from a firm’s competitive environemnt does not include:
a) substitutes
b) complementors
c) suppliers

Answer 29

B

Question 30

The treat of direct competitors is high when:
a) there are few firms in an industry and these firms tend to be unequal in size
b) the industry growth rate is high
c) firms are unable to differentiate their product

Answer 30

C

Question 31

the third stage in the industry lifecycle is:
a) shake-out
b) growth
c) maturity

Answer 31

A

Question 32

An industry is:
a) a group of firms producing products/services that are essentially the same
b) a group of customers for specific products or services that are essentially the same
c) a group of market segments

Answer 32

A

Question 33

the five elements that compose Porter’s five forces model are:
a) competitors, customers, potential enternats, suppliers and substitutes
b) competitors, customers, potential enterants, suppliers and complementors
c) competitors, customers, network effects, suppliers and complementors

Answer 33

A

Question 34

which competitive strategy is missing Cost leadership, cost focus, differentiation focus and …………
a) cost leadership
b) differentiation
c) cost focus

Answer 34

B

Question 35

Examples of resources and capabilities are:
a) Resources-Machienes, capabiloitie-buildings
b) resources - buildings, capabilities - cash flow
c) resources - employees, capabilities - productivity

Answer 35

C

Question 36

Which stsement is correct:
a) r in VRIO stands for rarity
b) i in VRION stands for industry
c) o in VRIO stands for opportunity

Answer 36

A

Question 37

The criteria for inimitability are:
a) compexity, casual ambiguity, culture and history
b) innovation, stakeholders and shareholders
c) matrix structure, divisional structure, functional structure

Answer 37

A

Question 38

which of the following statements is correct:
a) the letters O&T in a SWOT analysis are internally orientated
b) the letters S&W in a SWOT analysis explore the resources and capabilities
c) the letters O&T in a SWOT analysis explore the resources and capabilities

Answer 38

B

Question 39

……….. are those possessed uniquely by one organization or by a few:
a) rare resources and capabilities
b) inimitable resources and capabilities
c) valuable resources and capabilities

Answer 39

A

Question 40

What are the 2 variables used in stakeholder mapping
a) level of attention and power
b) political exposure and direct state involvement
c) time and money

Answer 40

A

Question 41

which statement is correct? Many public corporations:
a) have personal management and are exclusively profit focussed
b) have professional management and exclusively profit focussed
c) are simmilar to family business with the only difference that they have professional management

Answer 41

B

Question 42

What is corporate governance:
a) compares competitors according to their performance on key success factors in order to establish the extent of differentiation
b) the long term direction of an organization
c) it is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake in an organization

Answer 42

C

Question 43

Which phase is characterized by extreme rivalry in the industry life cycle:
a) decline
b) maturity
c) growth

Answer 43

A

Question 44

A value chain consists of primary and support activities. Which statement regarding primary activities and support activities is true:
a) an example of primary activities is inbound logistics and an example for support activities is procurement
b) an example of primary activities is HRM and an example of support activities is procurement
c) an example of primary activities is inbound logistics and an example of support activities is outbound logistics

Answer 44

A

Question 45

Stakeholders can be categorized into five types. Which of the following statements is true:
a) an example of economic stakeholders is customers and an example of internal stakholders is distributors
b) an example of economic stakeholders is policy makers and an example of internal stakeholders is policy makers too
c) an example of economic stakeholders is suppliers and an example of internal stakeholders is banks

Answer 45

B

Question 46

…………. are specific measurable targets a firm can use to evaluate the extent to which it is realizing the mission:
a) competitve advantages
b) objectives
c) strategies

Answer 46

B

Question 47

The strategic management process begins when a firm:
a) determines its objectives
b) makes a strategic choice
c) defines its mission

Answer 47

C

Question 48

When a firm is able to create more economic value than rival firms it is said to have:
a) economic advantage
b) residual advantage
c) competitve advantage

Answer 48

C

Question 49

Green Frog is an environmentally friendly firm in the cosmetics industry. if green frog were considering expanding beyond the cosmetics indusrty into pharmaceuticals in order to gain competitve advantages by operating in multiple markets, this would be an example if which type of strategy:
a) business level
b) opperational strategy
c) corporate level strategy

Answer 49

C

Question 50

To give people the power to build community sio that we can bring the world closer together (facbook 2019) is an example of:
a) a vision statement
b) a strategy statemnt
c) mission statement

Answer 50

C

Question 51

Whithin the PESTEL when concidering ecological issues, there are three sorts of challenges that organizations need to meet:
a) direct pollution obligation, product stewardship, and sustainable development
b) distribution, demographics and culture
c) the role of the state, exposure to civil society organizations and governmental support

Answer 51

A

Question 52

The approaches to forecast are:
a) single-point forecasting, multiple point forecasting and range forecating
b) single-point forecasting, range forecasting and alternative future forecasting
c) single-point forecasting multiple-point forecasting and alternative future forecasting

Answer 52

B