Strategy Theory Quiz Form
Test your knowledge of key concepts in strategy theory by answering the following quiz questions.
Which of the following best defines 'competitive advantage'?
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The ability of a firm to outperform its rivals by offering greater value
The process of reducing costs below competitors
A temporary increase in market share
The act of imitating competitors’ strategies
Who is the author of the Five Forces framework?
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Michael Porter
Henry Mintzberg
Peter Drucker
Igor Ansoff
What is the main focus of the Resource-Based View (RBV) of the firm?
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External industry structure
Internal resources and capabilities
Government regulation
Market demand trends
Briefly explain the difference between deliberate and emergent strategy.
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Which of these is NOT one of Porter’s generic strategies?
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Cost Leadership
Differentiation
Focus
Diversification
What is a 'core competency'?
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A unique strength that gives a firm a competitive edge
A government-mandated requirement
A temporary skill acquired by employees
A marketing campaign
Name one strategist or theorist whose work significantly influenced strategy theory.
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Rank the following elements in order of importance for sustainable competitive advantage.
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Rows
Most Important
Important
Less Important
Not Important
Valuable Resources
1
2
3
4
Imitable Capabilities
5
6
7
8
Industry Structure
9
10
11
12
Organizational Culture
13
14
15
16
Which of the following best describes 'Blue Ocean Strategy'?
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Creating uncontested market space
Competing in existing markets
Focusing solely on cost reduction
Following industry leaders
In one or two sentences, describe the main purpose of strategic planning.
*
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