Strategic Planning & Analysis Flashcards
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Read the first 7 Strategic Planning & Analysis flashcards as text
In Porter's Five Forces model, 'bargaining power of suppliers' is HIGH when:
Answer: Few alternative suppliers exist and switching costs are high
Supplier power is high when suppliers are concentrated or unique, giving them leverage to dictate terms and prices.
A Balanced Scorecard measures organizational performance across which four perspectives?
Answer: Financial, Customer, Internal Processes, Learning & Growth
The Balanced Scorecard links financial results to customer satisfaction, internal process efficiency, and organizational learning.
When strategic objectives are cascaded through an organization, this process ensures that:
Answer: Departmental and individual goals align with overall organizational strategy
Cascading objectives translates high-level strategy into specific, aligned goals at every organizational level for coherent execution.
A company performing a value chain analysis is primarily identifying:
Answer: Activities that create value for customers and where competitive advantage is built
Value chain analysis maps primary and support activities to find where the organization creates value and can gain competitive advantage.
Which strategic planning approach involves setting high-level strategy at the corporate level while allowing business units to develop their own tactics?
Answer: Top-down planning with decentralized execution
Top-down planning sets corporate direction while decentralized execution lets business units tailor implementation to their specific contexts.
In strategic analysis, 'competitive parity' means a firm has:
Answer: Resources or capabilities equal to competitors, providing no distinct advantage
Competitive parity describes capabilities that meet but do not exceed competitor standards, preventing disadvantage but not enabling advantage.
An operations manager uses a decision matrix during strategic analysis primarily to:
Answer: Objectively evaluate and compare multiple strategic options against weighted criteria
A decision matrix scores and weights multiple criteria to provide a structured, objective comparison of strategic alternatives.