Rutgers Business Policy and Strategy Practice Exam

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• Which of the following is NOT listed as a category of stakeholders?
• Which description best captures the essence of an integrated strategy?
• How do you map internal resources to capabilities to identify core competencies?
• Which statement correctly characterizes Tactical Action?
• What is the sequence of steps in market segmentation and targeting?
• Which strategy is described as combining elements of cost leadership and differentiation?
• Value chain is defined as
• Which term describes a firm's incentive to take action or respond to a rival's move?
• How should governance support change management?
• In the context of platform ecosystems, what best describes the impact of network effects on value creation?
• Which statement describes Organizational Stakeholders?
• Technological Development in value chain support functions aims to
• Which of the following is NOT one of the five business level strategies?
• What is a war of attrition in competitive dynamics and how can a firm respond?
• A focus strategy serves the needs of which market segment?
• A balanced scorecard translates strategy into measurable metrics across which four perspectives?
• How should a firm embed ESG risk into strategic risk assessment and planning?
• Define Outsourcing
• Which action is taken to fine-tune a strategy?
• In SWOT analysis, which categories are external?
• Which scenario best illustrates related diversification?
• Which of the following best defines Strategic Action (or Strategic Response) in competitive markets?
• Which model includes competitor analysis, drivers of competitive behavior, competitive rivalry, and outcomes?
• Awareness refers to what?
• Competitor Analysis involves studying what?
• Which of the following are effective strategy requirements?
• Which statement correctly describes a First Mover?
• What is Competitive Behavior?
• What risk is associated with an integrated cost leadership/differentiation strategy?
• What is the role of strategic leadership in shaping culture and executing strategy?
• Which term describes firms that respond to the first mover's competitive action, typically through imitation?
• Which Porter's force addresses the bargaining power of suppliers?
• What does the integrated cost leadership/differentiation strategy involve?
• What can a strategic leader anticipate by mapping an industry's profit pool?
• What process do strategic leaders use to select strategies that align a firm with its vision and fulfill its mission?
• Which statement reflects the long-term benefits of sustainability?
• To adjust to competitive advantages not being sustainable, a firm must:
• In an integrated strategy, what risk can arise from pursuing both cost leadership and differentiation?
• Which concept is defined as the set of competitive actions and responses a firm takes to build or defend its competitive advantages and to improve its market position?
• Which statement best defines bounded rationality?
• Which factors influence successful strategic leadership succession and why?
• Which VRIO criterion addresses whether a firm is organized to exploit a resource?
• Which statement best describes Capital Market Stakeholders?
• Market commonality refers to what concept?
• What is the primary risk associated with the focus strategy?
• Which of the following is a value chain support function?
• In the Resource-Based Model of Above-Average Returns, which sequence correctly lists the key steps from first to last?
• Distinguish related and unrelated diversification with examples, and explain when each is preferred.
• What is the purpose of stage-gate processes in managing resource allocation?
• The degree to which a firm and a competitor are jointly involved across markets is described by which concept?
• Which statement describes above-average returns?
• Which factor contributes to stability during leadership succession?
• In the Industrial Organizational Model, which option represents the final outcome in the sequence?
• Scenario planning is valuable because it __?
• Distinguish strategic risk from operational risk and provide examples.
• Value chain analysis should identify those activities that are the sources of either cost or differentiation advantages.
• Which type of diversification is driven by seeking synergies across related businesses?
• What is the key difference between cost leadership and differentiation strategies?
• Vertical integration is attractive primarily to reduce dependency and secure critical assets, especially when which condition is present?
• Horizontal integration is defined as ...
• Cost leadership targets which market segment?
• Name three common reasons why strategies fail and how to mitigate them.
• What is risk in investment terms?
• Ethical considerations and CSR commitments influence strategic decision making by __?
• Which statement correctly characterizes Strategic Action?
• Which components are typically included when integrating ESG risk into strategic planning?
• The value chain is composed of activities that produce products and then sell, distribute, and service those products in ways that create value for the customer.
• PESTEL stands for and how it is used in external analysis?
• Which stakeholders are most immediately affected by the firm's change in strategy?
• Which strategy combines cost leadership and differentiation?
• Which activity is a primary activity in the value chain?
• Product Market Stakeholders include which of the following?
• Two primary motives for strategic alliances are to gain access to resources/markets and to share risk. Which of the following is a common risk in alliances?
• Identify major risks in international strategy and common mitigation approaches.
• Which condition makes buyers powerful?
• Which of the following is a Product Market Stakeholder?
• Lagging indicators measure outcomes after actions; which of the following is a lagging indicator?
• Explain the role of leading indicators in adaptive strategy and give examples.
• In the industry life cycle, which stage is characterized by growth with rapid demand and the need to scale?
• A situation in which a firm is unaware of competitors' objectives, strategies, assumptions, and capabilities is called what?
• In the Resource-Based Model, which element directly follows Resources?
• What best defines Tactical Action (or Tactical Response)?
• How should firms align resource allocation with strategic priorities?
• Who are Competitors?
• What is a key purpose of analytics in strategy formation?
• Which set of elements is part of the Model of Competitive Rivalry Process?
• In this type of integration, parts of the supply chain are owned and operated by the same company.
• What is the blue ocean concept and what does it aim to create?
• Organizational ambidexterity refers to balancing exploration of new ideas with exploitation of existing capabilities. Which approach supports achieving this balance?
• Which of the following is a leading indicator of future performance?
• Value chain analysis should identify those activities that are the sources of either cost or differentiation advantages.
• Inbound logistics are defined as
• A strategic group is defined as
• Core rigidity is defined as
• What strategy tries to combine efficiency with responsiveness across markets?
• Which sequence best outlines a basic crisis management strategy from detection to recovery?
• Which statement best defines strategic competitiveness?
• Differentiation strategy aims to produce goods or services that customers perceive as being different in ways that are important to them.
• Which of the following is a primary activity of the value chain?
• What is benchmarking and how can it inform strategic choices?
• Value proposition design aligns with strategy and market needs by:
• Which step directly precedes Above-Average Returns?
• Information Networks primarily enable a firm to do what?
• What term describes the total set of actions and responses taken by all firms competing within a market?
• What is the goal of flexible manufacturing systems?
• Which Porter's force addresses the threat of new entrants?
• Which of the following is commonly considered a primary activity in the value chain?
• What is the objective of the integrated cost leadership/differentiation strategy?
• Which statement defines vertical diversification?
• Marketing and Sales primarily concerns
• In a differentiation strategy, which force is most likely to be weakened due to brand loyalty?
• Identify Porter's Five Forces.
• In the Resource-Based Model, how is a company conceptualized?
• Which statement about Slack is true in relation to being a first mover?
• NOT a step in the Resource-Based Model of Above-Average Returns?
• What best defines strategy?
• What best defines a business level strategy?
• Competitor intelligence is defined as
• If capabilities satisfy this four criteria, they can be considered core competencies.
• Which statement best describes how primary activities should be evaluated?
• Market segmentation is the process used to categorize people with similar needs into groups.
• Which term best defines firms competing in several product or geographical markets?
• What does Porter’s Five Forces framework collectively determine?
• Which statement best describes the long-term value of integrating sustainability into a company's strategy?
• Which statement best describes the Resource-Based View (RBV) versus the Market-Based View (MBV)?
• Which factor is a determinant of the threat posed by substitute products?
• Which form of integration can be achieved via mergers and acquisitions or internal expansion?
• Primary stakeholders can affect and be affected by which of the following?
• What term describes a firm that responds to a competitive action a significant amount of time after the first mover and second mover have acted?
• What is Information Networks?
• Which of the following is a factor used to segment consumer markets?
• Which statement best describes differentiation strategy?
• It is critical to gather competitor intelligence using legal and ethical practices.
• What are the strategic implications of digital disruption for traditional competitive advantages?
• Geographic diversification aims to achieve what?
• Firm infrastructure in the value chain
• Which statement best describes core competency?
• Which description best defines the strategic management process?
• Which of the following is NOT a potential advantage of diversification strategies?
• Which of the following are leading indicators for strategic control?
• What is a focus strategy and what risks does it entail?
• Which of the following is a segmentation variable used for industrial markets?
• Profit pool is defined as
• Which is a Capital Market Stakeholder?
• Forward integration involves owning stages of the supply chain that are closer to the customer, such as which of the following?
• Which of the following is NOT listed as a primary activity in the value chain?
• Late movers are defined as which of the following?
• Which term means observation of any changes that may take place?
• Which is NOT typically considered part of competitor analysis?
• In SWOT analysis, which categories are internal?
• Which item is listed as a barrier to entry in the context of new entrants?
• Which term describes a linked chain of suppliers, distributors, and customers that allows a firm to adapt quickly to changing customer expectations?
• Explain the role of PESTEL in external analysis.
• What do decision rights define?
• Which statement best describes cost leadership?
• Which sequence correctly orders entry types from earliest to latest action?
• Which condition makes suppliers powerful?
• If a firm maintains slack resources, what strategic capability does it gain?
• Which strategy emphasizes cost efficiency with a uniform product across markets?
• Resource Similarity measures what?
• How do bounded rationality and escalation of commitment affect strategic decisions?
• Second movers typically respond to the first mover's action through imitation. Select the best statement.
• What actions support preventing risks in international operations?
• Under a differentiation strategy, which force is most directly mitigated by brand loyalty?
• What is Competitive Rivalry?
• Which statement best defines competitive advantage?
• What is a Flexible Manufacturing System?
• Which term refers to Resources and Capabilities that serve as a source of competitive advantage for a firm over its rivals?
• Which groups are considered key strategic stakeholders for shaping a firm's strategy and long-term viability?
• How do hurdle rates and NPV analysis guide strategic investment decisions?
• Which term in external environment analysis is defined as developing projections on how the environment may change?
• Boards of directors play roles in strategy formulation and oversight by which of the following?
• Which of the following is not one of Porter's Five Forces?
• In the Industrial Organizational Model of Above Average Returns, which is the last element in the sequence?
• Which statement best defines competitive advantage?
• Which term describes the framework that includes threats of new entrants, substitutes, buyer and supplier power, and industry rivalry?
• What are the four criteria in the VRIO framework?
• What are common pitfalls in using analytics for strategy?
• Strategic competitiveness results when a firm uses its competitive advantages to satisfy a group of customers in product markets.
• Which statement best differentiates a value proposition from a business model, with a practical example?
• Which statement best defines a capability?
• Which of the following is NOT listed as a support function to customer value?
• Which structural choices influence strategy execution?
• RBV dominates in firms with what characteristic?
• Which statement defines a capability?
• First movers can gain loyalty and earn above-average returns. Which option best reflects this idea?
• Which of the following is an example of a support activity in the value chain?
• Which statement describes VRIO core competencies?
• Which construct captures how much competitors recognize their mutual interdependence due to market overlap and resource similarity?
• What defines Ability in competitive rivalry terms?
• Value is defined as
• How do SWOT and TOWS analyses differ in application?
• What statement best defines vertical integration?
• What are dynamic capabilities?
• Two categories of market segmentation are
• Which best describes the roles of mission and vision in strategy formation?
• Which statement best describes a value proposition?
• Motivation is best described as what?
• Which of the following is NOT listed as a primary activity in the value chain?
• What is Total Quality Management?
• Complementors are defined as
• Explain a Nash equilibrium in a competitive strategy context.
• Which statement best reflects the Resource-Based Model's view of competitive advantage?
• What is a platform business model and how do network effects influence value creation?
• What is coopetition and which statement best describes it?
• Slack is best described as which of the following?