Indicate the answer choice that best completes the statement or answers the question.

Name: Class: Date: Chapter 01 Introducing strategy Powered by Cognero Page 1 Indicate the answer choice that best completes the statement or answers the question.

1.Which of the following presents an organisation's long-term direction?

• A strategy
• A contract
• A memorandum
• A charter

2.In 2008, Tesla launched Roadster, a high-performance sports car with lower prices than competitors and with zero emissions. It changed the image of electric cars available in the market until then. Tesla Motors was worth more than $1trn by 2022, more valuable than the world's nine next largest car companies. Which of the following statements best explains Tesla's strategy?

• It focused on being different and delivering a unique mix of value not readily available in the market.
• It chose to take it slow and scale up their production only after gaining massive profits.
• It focused on standardisation of products rather than product differentiation.
• It chose to focus on short-term profits before aiming for a more long-term value creation.

3.The founder of Electrobuzz, an electronic appliance company, believes that the company makes the life of its customers easier by enabling them to do their everyday chores more efficiently with minimal efforts. Where should this belief formally be stated?

• The mission statement
• The vision statement
• The financial statement
• The value statement

4.Mariam, an entrepreneur, is writing her company's strategy statement for an elevator pitch to a potential investor.Which section of the statement should include the information about the company's major clients, its location and extent of internal activities?

• The scope
• The fundamental goals
• The objective
• The values

5.Which of the following is one of the main focuses of the business-level strategy of a company?

• How will the company counter its rivals' moves?
• How will the company allocate its resources?
• How will the company bring variety to its portfolio?
• How will the company organise its processes?

6.Which of the following is an example of a company's functional-level strategy?

• An IT company conducts seminars at universities to showcase their world-class facilities and to recruit new

talent.

• A car manufacturing company decides to diversify its portfolio and manufacture batteries.
• A mobile phone company analyses the possibility of expanding its geographical scope.
• A garment manufacturing company analyses the pros and cons of a differentiation strategy for their business.

Exploring Strategy Text & Cases 13e Whittington, Regnér, Angwin, Johnson, Scholes (Test Bank All Chapters, 100% Original Verified, A+ Grade) 1 / 4

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• The CEO of BCL Inc. is analysing the company's corporate strategy to check if any changes are required to adapt well

to the environmental changes. Which of the following aspects should the CEO consider?

• Whether the scope needs to be extended to include new businesses in their portfolio.
• Whether to be the lowest cost competitor in a market, or the highest quality.
• Whether to employ the push strategy or the pull strategy in marketing.
• Whether to start a recruitment drive in universities.

• Which of the following statements is true of non-profit organisations?
• Any revenue that a non-profit organisation makes after covering its costs should be reinvested in the

organisation's purpose.

• Revenues that a non-profit organisation makes should be divided equally among its employees.
• Non-profit organisations are required to align their strategies with government policies.
• Non-profit organisations have a market advantage as they do not have to compete with for-profit

organisations.

• Which of the following statements is true of the strategic fits for different organisational types?
• Strategic choices for multinational corporations depend on the geographical markets they serve.
• The range of strategic choices for a start-up or a small business is wider than for multinational corporations.
• Family businesses are typically small businesses and resource constraints are always a limiting issue.
• Small businesses typically avoid differentiation strategies.

• Which of the following statements is true of strategy work?
• Strategy work is inclusive of external powerful stakeholders of an organisation.
• In an organisation, strategy work is reserved for top decision makers.
• Strategy work related to a business strategy involves decisions about portfolio expansion.
• Strategy work involves formulation of business strategies but not their implementation.

• What is the primary concern of strategy content?
• To compare the advantages and disadvantages of different strategic options.
• To determine the opportunities and threats of an organisation's external environment.
• To develop broad generalisations about the characteristics of a good strategy.
• To analyse how strategies are formed and implemented.

• What is the primary concern of strategy process?
• Examining the efficiency of methods for creating and implementing strategies.
• Examining political factors affecting an organisation's strategic decisions.
• Examining market factors affecting an organisation's strategic decisions.
• Comparing the pros and cons of different strategic options.

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Chapter 02 Working with strategy

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Indicate the answer choice that best completes the statement or answers the question.

• Which of the following statements is true of thinking slow?
• Thinking slow is advisable when making decisions in a complex situation where the stakes are high.
• Thinking slow was the norm for early humans during their hunting activities.
• Thinking slow, rather than thinking fast, is associated more with intuitiveness.
• Thinking slow is most suitable for tasks such as making breakfast in the morning.

• Identify a situation in which divergent thinking would play the most crucial role.
• While generating new and creative ways of solving a problem
• While inserting data regarding the sale of a product in the past three months
• While writing the formula for calculating speed
• While preparing a grocery list

• What is an advantage of using checklists while building a strategy?
• They help strategists ensure that all relevant matters related to the strategy are covered.
• They help strategists take intuitive decisions while making strategies that involve high stakes.
• They help strategists focus more on the qualitative aspect of a problem rather than the quantitative aspects.
• They help strategists use the left-brain functions of integrating creative ideas.

• Go Organic is a chain of restaurants that serves salad bowls, fruit bowls and health drinks. Lately, their sales have

declined. The CEO of Go Organic conducted a SWOT analysis, focusing primarily on the avenues that could be explored.It was found that opening outlets near fitness centres could be a good option. Which aspect of the SWOT analysis was the primary focus in this scenario?

• Opportunities
• Threats
• Weaknesses
• Strengths

• Which of the following is an example of the threats category of a SWOT analysis?
• A drop in the customer base of a company due to the launch of a new product by another company.
• A space limitation faced by a fast-growing company that impacts the productivity of its employees.
• The absence of updated information technology systems that indirectly hits a company's profits.
• A toxic working environment where employees engage in unhealthy competition against one another.

• Which of the following practices should be avoided while doing a SWOT analysis?
• Substituting SWOT analysis for a comprehensive and in-depth strategy analysis.
• Focusing exclusively on those opportunities and threats that have a direct relevance to an organisation.
• Using SWOT analysis as an introductory overview of an in-depth analysis and not as a summary of the

analysis.

• Using SWOT as a tool in brainstorming sessions.

• In the context of the resource-based view, which of the following statements is true of the strength aspect in a SWOT

analysis?

• Rare and inimitable resources give an edge to a company over others.
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