11 May QuestionQuestion: The task of stitching together a strategy
Question
Question: The task of stitching together a strategy
A Entails addressing a series of hows: how to grow the business, how to please customers, how to outcompete rivals, how to respond to changing market conditions, and how to achieve strategic and financial objectives
B Is primarily an exercise in deciding which of several freshly-emerging market opportunities to pursue
C Is mainly an exercise that should be dictated by what is comfortable to management from a risk perspective and what is acceptable in terms of capital requirements
D Requires trying to copy the strategies of industry leaders as closely as possible
E Is mainly an exercise in good planning
Question: The obligations of an investor-owned company’s board of directors in the strategy-making, strategy-executing process include
A Coming up with compelling strategy proposals of their own to debate against those put forward by top management
B Overseeing the company’s financial accounting and financial reporting practices and evaluating the caliber of senior executives’ strategy-making/strategy-executing skills
C Taking the lead in developing the company’s business model and strategic vision
D Taking the lead in formulating the company’s strategic plan but then delegating the task of implementing and executing the strategic plan to the company’s CEO and other senior executives
E Approving the company’s operating strategies, functional-area strategies, business strategy, and overall corporate strategy
Question: Which of the following conditions acts to weaken buyer bargaining power?
A When buyers are unlikely to integrate backward into the business of sellers
B When buyers purchase the item frequently and are well-informed about sellers’ products, prices, and costs
C When the costs incurred by buyers in switching to competing brands or to substitute products are relatively low
D When the products of rival sellers are weakly differentiated and buyers have considerable discretion over whether and when they purchase the product
E When buyers are few in number and/or often purchase in large quantities
Question: Which one of the following is not a reason why industry members are often motivated to enter into collaborative partnerships with key suppliers?
A To reduce the costs of switching suppliers
B To speed the availability of next-generation components
C To enhance the quality of parts and components being supplied and reduce defect rates
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