,1. Multiple Choice: Which of the following best describes
the concept of 'strategic drift'?
a) A gradual change in strategy that aligns with external
changes
b) A rapid shift in strategy in response to an external crisis
c) A slow response to strategic change leading to a
misalignment with the external environment
d) The process of implementing a new strategy within an
organization
Answer: c) A slow response to strategic change leading
to a misalignment with the external environment.
Rationale: Strategic drift occurs when there is a gradual
change in strategy that fails to keep pace with the changing
external environment, leading to a misalignment and
potential decline in organizational performance.
2. Fill-in-the-Blank: __________ is the framework that
analyzes a company's internal and external environments to
assess its capabilities and anticipate future challenges and
opportunities.
Answer: SWOT Analysis (Strengths, Weaknesses,
Opportunities, Threats)
Rationale: SWOT Analysis is a strategic planning tool
used to evaluate the Strengths, Weaknesses,
Opportunities, and Threats involved in a project or in a
business venture.
, making in strategic management.
Answer: True
Rationale: The BCG Matrix, or Boston Consulting Group
Matrix, is indeed a tool for corporate strategy that assists
companies in analyzing their business units or product lines
based on their market growth rate and relative market
share.
4. Multiple Response: Select all that apply. Which of the
following are considered as core competencies in strategic
management?
a) Resources that are valuable but not rare
b) Skills that provide consumer benefits
c) Capabilities that are easily imitated by competitors
d) Assets that are difficult for competitors to acquire or
replicate
Answers: b) Skills that provide consumer benefits, d)
Assets that are difficult for competitors to acquire or
replicate
Rationale: Core competencies are unique strengths of an
organization that provide competitive advantages, reflected
in skills that offer consumer benefits and assets that are not
easily replicated by competitors.
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