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BUAD 453 Strat Exam Questions And Answers
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BUAD 453 Strat Exam Questions And Answers...
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BUAD 453 Strat Exam Questions And AnswersWhat are the three Ds of the strategic planning process? -ANSWER Direction
Deployment Development
What do the 6 Steps of the strategic planning process consist of? - ANSWER STEP 1:
Define the corporate mission, vision, values, and goals.
STEP 2 or 3: Diagnose externally: Conduct an external analysis with regard to
understanding the macro environment, as well as the competitive/ industry
environment.
STEP 2 or 3: Diagnose internally: We carry out an internal analysis focused on
recognizing resources/capabilities and distinctive strengths (core capabilities) that
could be a source of competitive advantage.
STEP 4: Based on the diagnosis from internal and external analyses, we
develop alternatives and select amongst them.
STEP 5: Deliver - Implement the decisions and track process using the balanced
scorecard.
STEP 6: Feedback loop.
What are some examples of corporate core competencies? Innovation capability
Supply chain management
Brand reputation
What are typical levels of strategy that a company must consider? Corporate Strategy:
Overall direction of the company.
Business Strategy: How the company competes in a particular market.
Functional Strategy: Specific areas like marketing, HR, or R&D.
, What are the four conditions for organizational success? Clear goals and objectives.
Strong leadership.
Effective utilization of resources.
Constant monitoring and adopting.
What is a strategic positioning continuum? - ANS The continuum runs from cost
leadership at one extreme where the focus is cost and, as a rule, high efficiency to
differentiation at the other extreme where the focus is on unique products and, usually,
higher prices.
How would you distinguish cost leaders? - ANS Highly efficient production Economies of
scale Competitive pricing, like Walmart or Southwest Airlines
How would you identify a differentiator? - ANS Unique product characteristics Strong
brand identity Can command premium pricing, for instance, Apple or Tesla.
What does STEEP stand for? -ANywER Social, Technological, Economic, Environmental,
and Political
What is each of these components as an example for the premium chocolate industry?
-ANywER Social: Organic chocolate demanded by health-conscious consumers.
Technological: Innovations in sustainable packaging.
Economic: Increased raw material costs, such as cocoa.
Environmental: Fair trade and sustainable farming.
Political: Trade tariffs on Cocoa imports.
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