112 questions and answers from all chapters

TEST BANK

112 questions and answers from all chapters Exploring Strategy Richard Whittington 13th edition 2023

Level: average

On the last page I put 12 questions that were on the final exam 1 / 3

Contents

• Introducing Strategy................................................................................3
• The Environment.....................................................................................3
• Strategic Capabilities...............................................................................4
• Strategic Purpose....................................................................................4
• Culture and Strategy...............................................................................4
• Business Strategy....................................................................................5
• Corporate Strategy and Diversification...................................................5
• International Strategy..............................................................................5
• Innovation and Entrepreneurship............................................................6
• Mergers, Acquisitions, and Alliances.....................................................6
• Evaluating Strategies............................................................................6
• Strategy Development Processes..........................................................7
• Organizing for Success..........................................................................7
• Leadership and Strategic Change..........................................................7
• The Practice of Strategy........................................................................7
• Introducing Strategy (Advanced)...........................................................8
• The Environment (Advanced)................................................................8
• Strategic Capabilities (Advanced).........................................................9
• Strategic Purpose (Advanced)...............................................................9
• Culture and Strategy (Advanced)..........................................................9
• Business Strategy (Advanced).............................................................10
• Corporate Strategy and Diversification (Advanced)............................10
• International Strategy (Advanced)......................................................11
• Evaluating Strategies (Advanced).......................................................12
• Organizing for Success (Advanced).....................................................13
• Leadership and Strategic Change (Advanced)....................................13
• The Practice of Strategy (Advanced)...................................................14
• General Knowledge.............................................................................14

Questions and answers that were on the test, summer 2024 ...................15 2 / 3

• Introducing Strategy

1.What is strategy?Strategy is the long-term direction of an organization.

2.What are the three horizons of strategy?

oHorizon 1: Extend and defend the core business.

oHorizon 2: Build emerging businesses.

oHorizon 3: Create viable options for the future.

3.What are the levels of strategy?oCorporate-level strategy.oBusiness-level strategy.oOperational strategy.

4.What is the purpose of a mission statement?To communicate the overriding purpose of the organization.

5.What are the components of a strategy statement?oFundamental goals.oScope of activities.oCompetitive advantages.

• The Environment

6.What is the PESTEL framework?

It categorizes macro-environmental influences into: Political,

Economic, Social, Technological, Environmental, and Legal.

7.What is Porter’s Five Forces framework?

It assesses industry attractiveness based on:

oThreat of entry.oThreat of substitutes.oPower of buyers.oPower of suppliers.oCompetitive rivalry.

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