Summary with the 9th edition of Contemporary Strategy Analysis by Grant
Summary with the 9th edition of Contemporary Strategy Analysis by Grant
Examples of possible exam questions with the book Contemporary Strategy Analysis - Grant
Which term addresses what strategic decisions are about and what the intention is?
Strategic context
Strategic content
Strategic product
Strategic process
Which statement(s) is (are) true?
According to McGee et al. strategic planning is the process by which the firm organizes its resources and actions in relation to an external environment in order to achieve its goals and objectives. This is conducted in a very hierarchical and formal manner.
According to Mintzberg and Waters (1985), some strategies may be planned, at least in their first stages, but many more just simply emerge in an organization without being consciously intended or being deliberate acts.
Logical incrementalism (Quinn, 1980) combines rational-resource allocation thinking with practical learning by doing; longer-term plans and targets with evolutionary, learningbased patterns of movement on the way.
All of the above statements are true
By modeling the process of interactive decision making by rival firms, game theory can predict the outcome of a range of competitive situations.
Given the plethora of external influences, understanding the external environment requires managers to:
Richard Branson runs Virgin using norms and values like “question authority” and “staff first, then customers and shareholders.” In terms of Mintzberg’s five P’s for strategy (in Lecture 1), this reflects the view of strategy as:
B
D
True
A
C
What is meant by customer surplus?
When the product is more valuable to the consumer than the price he/she pays for it
The amount of new customers the firm attracts by introducing a new product
The excess demand by customers caused by applying a differentiation strategy
There are many substitution possibilities available to the customers
Maximizing enterprise value and maximizing shareholder value are linked because:
In formulating strategies under uncertainty, real option analysis is a valuable strategic tool because:
1. A
2. C
3. A
Which characteristics describe monopolistic or imperfect competition?
Some to vary few firms, high differentiation of products
Some to vary few firms, low differentiation of products
Many firms, no differentiation of products
Many firms, some differentiation of products
When applying Porter’s 5 forces model for a given firm, which of the forces would be most directly influenced if that firm is threatened to engage in vertical integration?
Buyer power
Pressure from substitutes
Threat of new entrants
Intensity of rivalry
Which statement(s) is (are) true with regard to competition?
Only statement I is true
Only statement II is true
Both statements are true
Both statements are false
According to Barney (the resources-based view), entry barriers can only provide a sustainable competitive advantage under which condition(s)?
Critical success factors are those elements in the industry that are perceived to be important to:
D
A
C
B
C
Which of the following refers to a set of firm-specific skills and processes directed towards
the attainment of competitive advantage?
Core competences
Differentiation strategy
Business model
Competitive scope
The key insight from the “prisoners’ dilemma” game is:
By modeling the process of interactive decision making by rival firms, game theory can predict the outcome of a range of competitive situations.
Which of the following is not true about strategic groups?
1. A
2. A
3. True
4. A
Which statement is true according to the Chesbrough & Rosenbloom?
A cost leadership strategy would be expected to increase variable costs but to decrease both fixed costs and fixed assets associated with economies of scale.
A differentiation strategy would be expected to raise costs. Costs would go up because of the variable costs (such as quality and service levels) and fixed costs (such as advertising and R&D)
Only statement I is true
Only statement II is true
Both statements are true
Both statements are false
Barney (the resources-based view) lists several criteria that are associated with a sustainable competitive advantage. How should these criteria be interpreted when analyzing the firm’s resources?
Porter discusses three generic strategies. Which of the following is true regarding a differentiation strategy?
Which of the following refers to a set of firm-specific skills and processes directed towards the attainment of competitive advantage?
Core competences
Differentiation strategy
Business model
Competitive scope
Which of the following is a support activity in Porter’s value chain model:
Inbound logistics
Human resource management
Operations
Service
Regarding the inimitability of resources, path dependency refers to:
Not really knowing what (combinations of) assets are responsible for the existing success
Cumulative learning and experience over time, which is difficult to replicate over short periods.
The socially complex system that gives rise to the competitive advantage
All of the above
During the introduction phase of the industry life cycle, competition is between different technologies and different design configurations.
In the 1870s the QWERTY configuration was selected by the creators of the TypeWriter brand in order to slow down typists so as to reduce jamming of the keys. The Dvorak layout patented in 1932 is a more efficient layout and allows faster typing. The fact that the slower QWERTY system still dominates the market can be explained in terms of:
Opportunity costs
Switching costs
Sunk costs
Moore’s law
Which types of organizations have relatively little need for long-term scenario analysis?
Those operating in hypercompetitive environments classified by high levels of ambiguity
Those that maintain high levels of flexibility and are able to react quickly to any changes
Those operating in competitive environments classified by high levels of uncertainty
Those unable to react quickly and effectively to changing events as they occur
When an outcome depends greatly on the events that took place leading up to it, it is often impossible to reproduce that outcome. This is referred to as:
A musician might have more skills and resources than her rivals to create hit songs. However, if the recording studios have too much power, they get rich and the musician gets virtually nothing. According the resource-based view, what kind of problem is the musician facing?
B
D
D
C
Which of the following is NOT one of the types of strategic alliances found amongst noncompeting firms?
Vertical partnership
Co-opetition
Joint ventures
Cross-industry agreements
Which of the following is a motive for acquisition?
Getting rid of competitors from an over-saturated industry
Rapidly acquiring new skills
Gaining access to new markets
All of the above
Mergers and acquisitions represent paradoxes in the sense that:
The main reason that a strategic alliance are often an attractive alternative to a merger or acquisition is:
B
D
B
B
Summary with the 9th edition of Contemporary Strategy Analysis by Grant
Summary of cases with the 9th edition of Contemporary Strategy Analysis by Grant
Samenvatting bij de 9e druk van Contemporary Strategy Analysis van Grant
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