Past Paper Questions Strategy

Front 1

Who said about awaiting the battle is at ease, running into the battle is weary

Back 1

Sun tsu ☀️ sun shines on the battle

Front 2

Who pioneered the concept of emergent strategiZing

Back 2

Henry mintZberg emerges with a mint ❄️

Front 3

What does horizon 2 of strategy stand for

Back 3

Building emerging businesses. Emerges from the horizon

Front 4

Does a strategic decision always entail change?

Back 4

Yes

Front 5

If you are head of a chain and want to open another one, what level of strategy is this?

Back 5

Opening new business is corporate strategy

Front 6

You in charge of a business. In the next 5 years you want to become the market leader and be known for innovative products and customer service. What strategy statement is this

Back 6

Vision statement. Only the rough idea of the future

Front 7

In a recent meeting you argue that for formulating new strategy it’s important to draw on porters 5 forces and strategic group analysis. What view of strategy have you emphasised?

Back 7

Industrial based view. IBV Group analysis - focusing on the others in the industry group. Concerned about others

Front 8

What is one neccessary characteristic of a proposed core value

Back 8

It should not change with circumstance ! It’s a CORE value

Front 9

What is the triple bottom lines focus on

Back 9

Social economic and environmental factors

Front 10

What is the triple bottom lines focus on

Back 10

Social economic and environmental factors

Front 11

Framework for threats and opportunities ?

Framework for strengths and weaknesses

Back 11

Threats and opps- Pestel has a pistol and porters is an opp. Pestel & porter are threats and opportunities. Pestel and morter

Strengths and weaknesses are VALUE CHAIN and VRIO. All

Front 12

What is the main purpose of scenario planning ?

Back 12

To learn about the different possibilities for environmental change. What’s the scenario with the environment. Pretty bad scenario in Aus!

Front 13

What are the political factors affecting the food industry

Back 13

High political exposure, low direct state involvement

State pass legislation and whatever but don’t actually do the cooking. Wouldn’t see boris in a chef hat

Front 14

Why are airlines venerable to economic cycles ?

Back 14

High fixed costs. The plane is expensive 🚴🏼‍♀️✈️💸🥵

Front 15

Your business is going to do SWOT analysis. What else should you do first

Back 15

Pestel, porters 5, value chain

Front 16

You have a business and a strong social network of other people in the business. How can you improve your power and innovativeness?

Back 16

Become a hub and central broker. Queen in the middle

Front 17

In your business you are concerned with ecological issues. You want to manage ecological issues through the value chain and the life cycles of the firms products. Which type of ecological challenge do you wish to address?

Back 17

Product stewardship. Products lifecycle

Front 18

What are pestel movements that are slow to form but which influence many other activities views and factors ?

Back 18

Megatrends

Front 19

In your business you are predicting customers in the next 5 years. You think there’s possible future outcomes with a central most probable outcome. What is this

Back 19

Range forecast. Mountain range with one big snowy one in the middle

Front 20

In your business you are thinking about the future in 30 years. You just want to learn and are interested in different alternatives with respect to such long range planning. What approach ?

Back 20

Scenario planning. Making loads of different scenarios in your head

Front 21

What does porters 5 forces analyse the attractiveness of ?

Back 21

The industry

Front 22

What does porters 5 forces analyse the attractiveness of ?

Back 22

The industry

Front 23

High rivalry is most likely in an industry characterised by

High differentiation

Low exit barriers

Low fixed costs

Numerous competitors of roughly equal size

Back 23

Numerous competitors of roughly equal size and power

Front 24

When are there network effects in an industry

Back 24

When a customer has a positive impact for another. Network effect is me telling mollie and imo

Front 25

The development stage can be characterised by

Back 25

Innovation is key to develop! 🔑 high differentiation

Front 26

Recommended action to decrease the level of rivals in An industry of increasing rivalry

Back 26

Buy up the competitors

Front 27

You are currently focusing on differentiated product, however you are contemplating moving into the strategic space occupied by cost leaders.

Back 27

Competitors who ensure low costs are in the same strategic group

Front 28

You have established that you need to prioritise the development of organisational ability to renew and recreate its resources to keep up with the changing environment. What type do you need to invest in?

Back 28

Dynamic capabilities

Front 29

You make a service to receive laundry in the mail. Which statement is correct

Back 29

Procurement and technology development

Front 30

All shareholders are stakeholders

Back 30

X

Front 31

What’s the focus of a public limited company

Back 31

Profit professional management

Front 32

What type of company is partnership ownership common in

Back 32

Law firms. The partners own the firms

Front 33

The board of directors have discussed restructuring the governance of the company to ensure increased innovation and entrepreneurship. What governance model should they promote

Back 33

Shareholder model. Shareholders having the say

Front 34

Shareholders have pointed out their issues with the knowledge imbalances, misaligned incentives etc what’s this an example of

Back 34

Principle agent theory. The two are disconnected

Front 35

In a recent meeting you express concern that the fate of environmental change has started to outpace the date of the organisations strategic change. What strategy explains the position

Back 35

Strategic drift. strategy has drifted away and you’re losing control on the business

Front 36

How many strategies did porter introduce ?

Back 36

3 generic strategies from porter!!!!!!

My lucky number 🍀

Front 37

At which level of analysis are business strategies formulated ?

Back 37

SBU STRATEGIC BUSINESS UNIT

Front 38

How to decrease the power of buyers ?

Back 38

Increase the differentiation of your products

Front 39

Which of porters generic strategies does Waitrose follow

Back 39

Differentiation

Front 40

Which is not one of the key cost drivers that can help deliver cost leadership in the context of porters generic strategies

Input costs

Economies of scale

Experience

Customer relationship

Back 40

Input costs

Economies of scale

Experience

CUSTOMER RELATIONSHIPS

Front 41

Your company makes computer screens for short sighted people. Which strategy is most accurate

Back 41

Focus strategy - the focus is an individual product

Front 42

Your business sells high quality products. You have also just achieved low cost of production. What type of business strategy is this?

Back 42

Hybrid. Both low cost and differentiation

Front 43

Your company produces cheap phones. You charge average prices and translate the cost advantage wholly into extra profit. What type of cost leadership strategy do you follow ?

Back 43

Parity

Front 44

What is the main difference between using Porters generic strategies and the strategy clock

Back 44

Strategy cock focuses on price, continuous

Front 45

What’s the main purpose of using game theory in strategy?

Back 45

Careful consideration of competitors moves and implications of these moves for your own strategy

Front 46

If your business is stuck in the middle what does this suggest

Back 46

Not following generic business strategies consistently

Front 47

What is corporate parenting

Back 47

Relationship between corporate parent and SBU

Front 48

When the board of directors take decisions to determine which industries they want their organisation to compete in....

Back 48

Corporate strategy. Corporate concerns the board of directors

Front 49

You are concerned about increasing threat of new competition into the industry. How can you decrease the threat of entry?

Back 49

Increase economies of scale and advertising spend

Front 50

Which is not one of ansoffs matrix’s

Back 50

Market diversification

Front 51

Who introduced personal and tacit knowledge

Back 51

Michael polanyi

Front 52

According to Michael polanyi, how do people learn

Back 52

According to Michael polanyi who introduced tacid knowledge was through indwelling

Front 53

How should knowledge workers be managed

Back 53

Autonomy to do their work and given opportunities for learning

Front 54

How Can using a strategy canvas be used as a part of formulating strategy

Back 54

Identities strategic gaps. Look at the canvas and see where there’s white space

Front 55

What is path dependency in the context of strategy?

Back 55

Where we are today is a result of what has happened in the past. We are stuck on our path because of past actions

Front 56

Why are threshold capabilities also relevant to mature businesses?

Back 56

The critical success factors may change over time. The bare minimum may change

Front 57

What are core competencies

Back 57

Linked set of skills resources and activities that deliver customer value

Front 58

You have identified that your named capability is valuable rare supported by the organisation, but isn’t inimitable

What does this mean for your competitive advantage?

Back 58

The competitive advantage is temporal - only a matter of time before someone else comes along time is of the essence

Front 59

You aren’t sure whether to make or buy your phones. What analytical tool is best for deciding this?

Back 59

The value system. Check the values of each option

Front 60

What is the limitation of benchmarking?

Back 60

Only allows competitive parity not competitive advantage

Front 61

You are currently focusing on differentiated product, however you are contemplating moving into the strategic space occupied by cost leaders.

Back 61

Competitors who ensure low costs are in the same strategic group

Front 62

You have established that you need to prioritise the development of organisational ability to renew and recreate its resources to keep up with the changing environment. What type do you need to invest in?

Back 62

Dynamic capabilities

Front 63

You make a service to receive laundry in the mail. Which statement is correct

Back 63

Procurement and technology development

Front 64

All shareholders are stakeholders

Back 64

X

Front 65

What’s the focus of a public limited company

Back 65

Profit professional management

Front 66

What type of company is partnership ownership common in

Back 66

Law firms. The partners own the firms

Front 67

The board of directors have discussed restructuring the governance of the company to ensure increased innovation and entrepreneurship. What governance model should they promote

Back 67

Shareholder model. Shareholders having the say

Front 68

Shareholders have pointed out their issues with the knowledge imbalances, misaligned incentives etc what’s this an example of

Back 68

Principle agent theory. The two are disconnected

Front 69

In a recent meeting you express concern that the fate of environmental change has started to outpace the date of the organisations strategic change. What strategy explains the position

Back 69

Strategic drift. strategy has drifted away and you’re losing control on the business

Front 70

How many strategies did porter introduce ?

Back 70

3 generic strategies from porter!!!!!!

My lucky number 🍀

Front 71

At which level of analysis are business strategies formulated ?

Back 71

SBU STRATEGIC BUSINESS UNIT

Front 72

How to decrease the power of buyers ?

Back 72

Increase the differentiation of your products

Front 73

Which of porters generic strategies does Waitrose follow

Back 73

Differentiation

Front 74

Which is not one of the key cost drivers that can help deliver cost leadership in the context of porters generic strategies

Input costs

Economies of scale

Experience

Customer relationship

Back 74

Input costs

Economies of scale

Experience

CUSTOMER RELATIONSHIPS

Front 75

Your company makes computer screens for short sighted people. Which strategy is most accurate

Back 75

Focus strategy - the focus is an individual product

Front 76

Your business sells high quality products. You have also just achieved low cost of production. What type of business strategy is this?

Back 76

Hybrid. Both low cost and differentiation

Front 77

Your company produces cheap phones. You charge average prices and translate the cost advantage wholly into extra profit. What type of cost leadership strategy do you follow ?

Back 77

Parity

Front 78

What is the main difference between using Porters generic strategies and the strategy clock

Back 78

Strategy cock focuses on price, continuous

Front 79

What’s the main purpose of using game theory in strategy?

Back 79

Careful consideration of competitors moves and implications of these moves for your own strategy

Front 80

If your business is stuck in the middle what does this suggest

Back 80

Not following generic business strategies consistently

Front 81

What is corporate parenting

Back 81

Relationship between corporate parent and SBU

Front 82

When the board of directors take decisions to determine which industries they want their organisation to compete in....

Back 82

Corporate strategy. Corporate concerns the board of directors

Front 83

You are concerned about increasing threat of new competition into the industry. How can you decrease the threat of entry?

Back 83

Increase economies of scale and advertising spend

Front 84

Which is not one of ansoffs matrix’s

Back 84

Market diversification

Front 85

Who introduced personal and tacit knowledge

Back 85

Michael polanyi

Front 86

According to Michael polanyi, how do people learn

Back 86

According to Michael polanyi who introduced tacid knowledge was through indwelling

Front 87

How should knowledge workers be managed

Back 87

Autonomy to do their work and given opportunities for learning

Front 88

What is innovation

Back 88

Commercialisation of new knowledge

Front 89

How Can using a strategy canvas be used as a part of formulating strategy

Back 89

Identities strategic gaps. Look at the canvas and see where there’s white space

Front 90

What is path dependency in the context of strategy?

Back 90

Where we are today is a result of what has happened in the past. We are stuck on our path because of past actions

Front 91

Why are threshold capabilities also relevant to mature businesses?

Back 91

The critical success factors may change over time. The bare minimum may change

Front 92

What are core competencies

Back 92

Linked set of skills resources and activities that deliver customer value

Front 93

You have identified that your named capability is valuable rare supported by the organisation, but isn’t inimitable

What does this mean for your competitive advantage?

Back 93

The competitive advantage is temporal - only a matter of time before someone else comes along time is of the essence

Front 94

You aren’t sure whether to make or buy your phones. What analytical tool is best for deciding this?

Back 94

The value system. Check the values of each option

Front 95

What is the limitation of benchmarking?

Back 95

Only allows competitive parity not competitive advantage

Front 96

What is the structure of a supermarket market

Back 96

Oligopolistic with many buyers competing

Front 97

Your company is mature in the industry life cycle. What can you do ?

Back 97

Ansoff

Front 98

What are threats faced by organisations that have the potential to undermine the way they currently compete

Back 98

Discontinuities - current way is in jeopardy

Front 99

What is a market defined by

Back 99

A market is defined by Supply conditions and production technology

Front 100

What are the events of structural uncertainties

Back 100

Unique events that can’t be predicted as there was no past experience to learn from

Front 101

Which type of data is best for predicting the future

Back 101

Demographics

Front 102

What industry is most likely to suffer in response to increased interest rates

Back 102

Construction - MOLLIE 🚧

Front 103

According to John Kay, an organisations core competencies arise from where

Back 103

Architecture innovation and reputation

Front 104

Which view as the root of the organisations competitive advantage does grant have

Back 104

Resources which reside inside the organisation

Front 105

What does the Japanese term kyosi mean

Back 105

Working for the kommon good

Front 106

Kay sees strategy as matching internal capabilities with ..

Back 106

It’s external relationships