MGT 450 Strategic Planning for Organizations
Week 2 Quiz (All correct)
Question 1
An entrepreneurial mindset is:
Seeing things from a customer’s perspective
Noticing a problem that exists
Being able to state the problem clearly
Finding opportunities
All of the above
Question 2
Which of the following cannot be deduced from a strategic-group map?
Competitors that are strategically similar
Market shares of individual competitors
Areas of unserved demand
Competitors that are not really competitors
Entry barriers of different strategic groups
Question 3
Strategic thinking is best done during the annual strategic-planning process.
True
False
Question 4
Which of the following is not an industry driving force?
Changes in the industry growth rate
Increasing pace of technological change
Increasing globalization of the industry
Developing a core competence
Rising energy costs
Question 5
Finding a “blue ocean” or “situational monopoly” is a legitimate part of strategic thinking.
True
False
Question 6
A company that is not actively pursuing opportunities won’t be in business very long.
True
False
Question 7
A situational monopoly is one of the following:
An instant monopoly
Something no other competitor has
An ownable space for a useful period of time
An opportunity to charge more than competitors
None of the above
Question 8
What is at the core of blue-ocean strategy?
Satisfying customers
Being differentiated
Value innovation
Industry repositioning
None of the above
Question 9
Which of the following is not a barrier to entry?
Distribution channels all tied up
Ability to forge strategic alliances
High capital investment
Developing a brand reputation
Competitors with lower costs
Question 10
Which factor is typically not included in an industry-attractiveness analysis?
Size of potential market
Industry growth rate
Size of entry barriers
Financial strength
Degree of competition
