Exam 2: Analysing Business Strategy: Creating Value

'Value' for customers is the additional benefits that are provided by the organisation.

Strategy refers to those decisions that have a medium- to long-term impact on the activities of the organisation.

Sustainability covers the current period and the effect on future generations.

Which of the following is the best explanation why 'Corporate social responsibility' is increasingly being used by organisations?

Petris's model of the 'phases in the strategy-making process in the public sector' does NOT include:

One of the challenges that the emergent strategy approach identifies for planned strategy is:

Petris argues that public sector organisations can be divided into three types except those:

Hamel and Prahalad criticised many organisations as having strategies that are too focused on the current business and not enough on the future.

Competitive advantage is not just making a profit.

The behavioural theory approach of the firm:

What are the four challenges to planned strategy under the emergent strategy approach?

Hay and Williamson argued that for a strategy to be effectively understood and accepted:

The value proposition rests on the requirement that:

Value is the difference between:

According to Hubbard,Rice and Galvin,competitive advantage is:

The five questions (5Qs)of business strategy do NOT include:

A vision statement is a statement that:

Who is more important for a strategic planner - shareholders or stakeholders? Comment.

The creation of value for customers requires:

The recommended ways to outperform competitors do NOT include providing a: