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Answer Key:
(1) (b) the search for industries best practices that lead to superior performance
(2) (a) gain buyer loyalty to its brands
(3) (c) fundamental re-thinking and radical redesign of business process to achieve
dramatic results
(4) (d) deeper level of basic assumptions and beliefs that are shared by the members of
the firm
(5) (c) responding to anticipating customers and market demands
(6) (d) A course of action or choice of alternatives, specifying the resources required to
achieve certain stated objectives
(7) (b) That enable managers to have better control over the resources
(8) (b) Price leadership
(9) (a) Yields low current income but has bright growth prospects
(10)(a) Vision is before the mission
(11)(b) Growth
(12)(b) relative market share and market/industry growth rate
(13)(a) Conglomerate diversification
(14)(c) Core competency
(15)(c) High share, low growth and large positive cash flow
(16)(c) Backwards vertical integration
(17)(b) is a method of obtaining a systematic refined consensus from a group of experts
(18)(b) To design the course of strategic options and appointment of top management
(19)(d) Structure, Strategy, Staff, Skills, Systems, Shared values, Style
(20)(b) Mission statements
(21)(c) purchase of a value-creating activity from an external supplier
(22)(b) Strategic asset
(23)(b) Mission, goals, corporate appraisal, position audit and gap analysis
(24)(a) They are one and the same
(25)(b)It approves issues like R&D, foreign collaborations, linkages with financial institutions
(26)(d) For those companies who are strong in the market but not leaders and might
capture a market share from the leader
(27)(e) achieve its mission
(28)(e) all of the above
(29)(c) high
(30)(d) market identification, product development, positioning and diversification
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