Strategic Management Exam
INSTRUCTIONS: You must answer the first 5 questions on the list and then you may select any additional 5 questions in which to answer. You will be answering 10 questions in total worth a total of 100 points.
1. What is strategy? What is a core competency? What is a capability? How do these produce a competitive advantage for a firm?
2. How do vision and mission statements differ in purpose and content?
3. Explain in detail the Five Forces Model of Michael Porter.
4. Explain in detail the five generic business-level strategies including the concept of being ”caught in the middle.”
5. Explain the levels and types of diversification. What is value-creating diversification? Explain the typical relationship between diversification and firm performance.
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6. Explain the two different paradigms, or models, of strategic decision-making.
7. Explain VRIO Analysis and its usefulness to strategic analysis?
8. Explain how strategic competitiveness results when a firm’s internal capabilities match the external environment.
9. What is business-level strategy? How is it different from corporate level-strategy?
10. What is “disruptive innovation” and what role does it play in strategic choice?
11. What factors increase the “likelihood of attack” by competitors and what strategic action can be taken defensively?
12. What is the BCG Matrix and how can it be useful in thinking about asset restructuring?
13. Explain the most common reasons for corporate acquisitions and also the most common reasons they fail to produce the intended results.
14. Explain the basic characteristics of each corporate-level strategy and also explain when each is most appropriate.
15. Explain the international modes of entry and when each is most appropriate.
16. What is a strategic alliance and what forms are commonly used?
17. Why do firms use cross-border strategic alliances?
18. Explain the four business-level cooperative strategies.
19. What is corporate governance and why is it important?
20. What role does the Board of Directors play in strategic management? What are some common problems found in board management?
