BST ACA > Model Recognition Tests > Flashcards

Model Recognition Tests Flashcards

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1
Q

Define the companys strategy in one sentence

A

Strategy (Johnson Scholes Whittington) - Use to define strategy and frame evaluation of direction scope advantage and stakeholder expectations

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2
Q

Evaluate whether the company has a clear long term direction and scope

A

Strategy (Johnson Scholes Whittington) - Use to define strategy and frame evaluation of direction scope advantage and stakeholder expectations

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3
Q

Management is producing a formal multi year plan with clear stages

A

Rational Strategic Planning - Use to structure a deliberate top down strategy process from analysis to choice to implementation and review

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4
Q

You need a structured approach to develop and implement a new strategy

A

Rational Strategic Planning - Use to structure a deliberate top down strategy process from analysis to choice to implementation and review

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5
Q

Outline how strategy should be formulated from start to finish

A

Rational Planning Stages - Use as an answer structure external analysis internal analysis mission objectives gap choice implementation review

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6
Q

Use a checklist to structure an answer on strategy formulation

A

Rational Planning Stages - Use as an answer structure external analysis internal analysis mission objectives gap choice implementation review

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7
Q

Strategy is evolving through experimentation and learning

A

Emergent Strategy - Use when strategy develops through learning and adaptation rather than a fixed plan

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8
Q

The environment is uncertain and plans are frequently adapted

A

Emergent Strategy - Use when strategy develops through learning and adaptation rather than a fixed plan

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9
Q

The case asks for a clear statement of why the organisation exists

A

Mission statement - Use to set overall purpose and communicate direction to stakeholders

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10
Q

The organisation lacks clarity on purpose and direction

A

Mission statement - Use to set overall purpose and communicate direction to stakeholders

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11
Q

Critique a vague mission statement

A

Ashridge Mission Model - Use to evaluate mission statements using purpose strategy policies values

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12
Q

Draft a mission aligned to purpose strategy values and policies

A

Ashridge Mission Model - Use to evaluate mission statements using purpose strategy policies values

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13
Q

Objectives are vague and not measurable

A

SMART Objectives - Use to test whether objectives are specific measurable achievable relevant and time bound

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14
Q

Targets appear unrealistic or lack timeframes

A

SMART Objectives - Use to test whether objectives are specific measurable achievable relevant and time bound

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15
Q

Many stakeholders exist and you must prioritise engagement

A

Mendelow Matrix - Use to prioritise stakeholders by power and interest and choose engagement approach

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16
Q

A powerful regulator must be managed differently from customers

A

Mendelow Matrix - Use to prioritise stakeholders by power and interest and choose engagement approach

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17
Q

Regulation economic conditions and technology are changing

A

PESTEL - Use to analyse macro environment political economic social technological environmental legal

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18
Q

Identify external opportunities and threats at macro level

A

PESTEL - Use to analyse macro environment political economic social technological environmental legal

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19
Q

Industry profitability is falling due to rivalry and buyer power

A

Porter Five Forces - Use to assess industry attractiveness via rivalry entrants substitutes buyer power supplier power

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20
Q

Assess whether entering an industry is attractive

A

Porter Five Forces - Use to assess industry attractiveness via rivalry entrants substitutes buyer power supplier power

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21
Q

The market is mature with slow growth and price competition

A

Industry Life Cycle - Use to assess industry maturity and competitive intensity across stages

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22
Q

A new industry is emerging with rapid growth and many entrants

A

Industry Life Cycle - Use to assess industry maturity and competitive intensity across stages

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23
Q

Identify what the business must do well to succeed

A

Critical Success Factors - Use to identify the few key areas that drive success and should be managed and measured

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24
Q

Management wants a short list of priorities to monitor

A

Critical Success Factors - Use to identify the few key areas that drive success and should be managed and measured

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25
A strategy fails due to lack of skills systems or funding
9Ms Resource Audit - Use to test strategic feasibility by auditing Men Money Machines Materials Markets Methods Management MIS Make up
26
Implementation problems suggest weak internal resources
9Ms Resource Audit - Use to test strategic feasibility by auditing Men Money Machines Materials Markets Methods Management MIS Make up
27
Explain why the firm outperforms competitors long term
Core Competences - Use to identify hard to imitate capabilities that provide sustainable competitive advantage
28
Identify capabilities that rivals find hard to copy
Core Competences - Use to identify hard to imitate capabilities that provide sustainable competitive advantage
29
Costs are higher than competitors and you must locate causes
Porter Value Chain - Use to analyse primary and support activities to find cost advantage or differentiation sources
30
Differentiate through service quality and identify value adding activities
Porter Value Chain - Use to analyse primary and support activities to find cost advantage or differentiation sources
31
Summarise internal and external analysis before recommendations
SWOT - Use to synthesise strengths weaknesses opportunities threats and set up strategic recommendations
32
Link strengths to opportunities and weaknesses to threats
SWOT - Use to synthesise strengths weaknesses opportunities threats and set up strategic recommendations
33
Current performance is below strategic targets
Gap Analysis - Use to identify the gap between current state and desired objectives to justify need for change
34
There is a gap between current position and desired future
Gap Analysis - Use to identify the gap between current state and desired objectives to justify need for change
35
Choose whether to compete on lowest cost or uniqueness
Porter Generic Strategies - Use to explain competitive positioning cost leadership differentiation or focus
36
A niche focus strategy is being considered
Porter Generic Strategies - Use to explain competitive positioning cost leadership differentiation or focus
37
Compare growth options using products and markets
Ansoff Matrix - Use to evaluate growth directions and risk market penetration market development product development diversification
38
New products or new markets are being considered
Ansoff Matrix - Use to evaluate growth directions and risk market penetration market development product development diversification
39
Sales growth is slowing and margins are under pressure
Product Life Cycle - Use to assess product stage and implications for pricing marketing investment and innovation
40
A product is approaching decline and replacement is needed
Product Life Cycle - Use to assess product stage and implications for pricing marketing investment and innovation
41
Decide where to invest or divest across multiple products
BCG Matrix - Use for portfolio decisions across Stars Cash Cows Question Marks Dogs
42
Cash from mature products must fund growth areas
BCG Matrix - Use for portfolio decisions across Stars Cash Cows Question Marks Dogs
43
The company is expanding overseas and must consider new risks
International Strategy - Use when analysing overseas expansion global competition and cross border risks
44
Foreign competitors are entering the domestic market
International Strategy - Use when analysing overseas expansion global competition and cross border risks
45
Explain why a country is competitive in an industry
Porter Diamond - Use to analyse national advantage via factor conditions demand supporting industries rivalry
46
Choose where to locate operations for advantage
Porter Diamond - Use to analyse national advantage via factor conditions demand supporting industries rivalry
47
Implementation is slow and accountability is unclear
Organisational Structure - Use to evaluate whether structure supports strategy and recommend functional divisional matrix
48
Rapid growth requires redesigning structure
Organisational Structure - Use to evaluate whether structure supports strategy and recommend functional divisional matrix
49
The case contains several uncertainties affecting objectives
Risk Management Process - Use to structure risk work identify assess evaluate respond monitor
50
A project requires structured risk identification and monitoring
Risk Management Process - Use to structure risk work identify assess evaluate respond monitor
51
Prioritise risks across a project or business
Risk Measurement (Likelihood x Impact) - Use likelihood and impact to compare and prioritise risks
52
Decide which risks are most significant
Risk Measurement (Likelihood x Impact) - Use likelihood and impact to compare and prioritise risks
53
A major cyber risk must be addressed
TARA - Use to recommend risk responses Transfer Avoid Reduce Accept
54
Supply chain disruption risk needs treatment
TARA - Use to recommend risk responses Transfer Avoid Reduce Accept
55
Performance is measured only using profit
Balanced Scorecard - Use to measure performance across Financial Customer Internal Process Learning and Growth
56
Non financial measures are required to align with strategy
Balanced Scorecard - Use to measure performance across Financial Customer Internal Process Learning and Growth
57
Propose measurable indicators to track strategy execution
KPIs - Use to convert objectives and CSFs into measurable indicators for monitoring and control
58
Translate objectives into metrics management can monitor
KPIs - Use to convert objectives and CSFs into measurable indicators for monitoring and control
59
Change is resisted by staff
Lewin Force Field Analysis - Use to analyse driving and restraining forces and plan interventions
60
Cultural barriers prevent change
Lewin Force Field Analysis - Use to analyse driving and restraining forces and plan interventions
61
Explain how change should be implemented step by step
Lewin Change Model - Use to structure change as Unfreeze Change Refreeze
62
Embed new behaviours and prevent regression
Lewin Change Model - Use to structure change as Unfreeze Change Refreeze
63
Poor information affects decision making and control
Information Systems - Use when analysing how information supports decisions and control
64
Automation requires reliable data flows
Information Systems - Use when analysing how information supports decisions and control
65
Daily transaction processing is required
Types of Information Systems - Use to match needs to TPS MIS DSS EIS
66
Senior management needs dashboards and summaries
Types of Information Systems - Use to match needs to TPS MIS DSS EIS
67
The firm is losing competitiveness and needs renewal
Innovation - Use when discussing creation and exploitation of new ideas to improve products processes or business models
68
Create long term advantage through new ideas
Innovation - Use when discussing creation and exploitation of new ideas to improve products processes or business models
69
A decision may harm stakeholders if publicised
Ethical Tests - Use transparency effect fairness tests to evaluate and justify ethical decisions
70
Fairness of a decision is questioned
Ethical Tests - Use transparency effect fairness tests to evaluate and justify ethical decisions
71
Investors demand sustainable and responsible behaviour
ESG - Use when analysing environmental social governance factors affecting sustainability risk and long term value
72
Environmental or governance risks threaten reputation
ESG - Use when analysing environmental social governance factors affecting sustainability risk and long term value
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