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Poop a Loop

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Submitted By espafa
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F14 MGT 4900
Exam #1 Review Questions for Chapters 1 to 4
Chapter 1
1. What do we mean by strategy? See pages 4, 5, and 7 (the first two paragraphs).
2. Why a company’s strategy evolves over time? See page 8.
3. What is the difference between a company’s strategy and a company’s business model? See pages 5, 7 (first two paragraphs), and 10.
4. What are the three tests of a winning strategy? See page 12.
5. What are the telling signs of a well-managed company? See p. 13, the paragraph above the heading “The Road Ahead.”
6. What does a company’s strategy concern? See page 4.
7. The crux of strategy formulation is to develop a sustainable competitive advantage. See pages 5 and 7 (the first two paragraphs).
8. What are the strategy elements of a proactive strategy? See p. 9, first paragraph.
Chapter 2
1. What are the five tasks of the strategy-making, strategy-executing process? See page 19 and Figure 2.1 on page 20.
2. What does a company’s strategic vision describe? See p. 21 (first paragraph).
3. What does a company’s mission statement address? See page 24, the paragraph above the last paragraph.
4. What is the difference between the company’s mission statement and the company’s strategic vision? See page 24, margin note to the left.
5. What should well-stated objectives be like? See page 27, the last paragraph of the page.
6. What is the meaning of “strategic intent”? See page 28, first paragraph and the margin note to the left. 7. What is a balanced scorecard? See page 29, the margin note to the right and the paragraph next to it. 8. Why is strategy-making a collaborative effort among all mangers at all levels of an organization? See pages 31 (last two paragraphs on the page) and 32 (the first two paragraphs from the top of the

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