Nature and purpose of strategic management：練習題

• a.

  To eliminate all risks associated with the external environment through rigid planning.

• b.

  To manage and coordinate the activities of the business to attain a sustainable long-term competitive advantage.

• c.

  To focus exclusively on daily operational tasks to ensure maximum efficiency in the short run.

• d.

  To ensure that the marketing department alone dictates the direction of the company’s product development.

• a.

  To ensure that strategic decisions are synthesized and that resources are aligned to create value for stakeholders consistently.

• b.

  To allow each functional department to operate independently without the need for communication.

• c.

  To ensure that only the senior management team is involved in the execution of the strategy.

• d.

  To prioritize the financial function over all other departments to guarantee profitability.

• a.

  Strategic implementation

• b.

  Strategic evaluation

• c.

  Strategic analysis

• d.

  Strategic choice

• a.

  Differentiation through value drivers and unique capabilities.

• b.

  Market penetration by reducing prices to the lowest possible level in the industry.

• c.

  Vertical integration by acquiring its primary raw material suppliers.

• d.

  Cost-leadership through the minimization of production overheads.

• a.

  The advantage must be based solely on a single PESTLE factor, such as a change in legal regulations.

• b.

  The advantage must be sustainable over the long term and difficult for competitors to replicate.

• c.

  The advantage must be achieved without any input from the operations or human resource management functions.

• d.

  The advantage must result in immediate short-term profit maximization within one fiscal quarter.

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