Although, tactical decisions change every year, they do not represent changes in

Question

Although, tactical decisions change every year, they do not represent changes in strategy.

Question 1 options:

When evaluating the competitive dynamics in the simulation, the first place you see is the branded markets where differentiation strategies are pursued.

Question 2 options:

If the industry had several firms that simultaneously drove costs low, but none of the firms gained a clear edge, then the market may have developed into what Michael Porter called "profitless prosperity."

Question 3 options:

Apart from the learning about the industry and your competitors, another kind of learning involves the progress of your group in terms of both group dynamics and individual leadership.

Question 4 options:

Given what you know now about competition in the market and about how to work in multifunctional teams, knowledge of which of the two would have been more valuable to have at the start of the simulation?

Question 5 options:

knowledge of the market

great team dynamics

strong leadership and group decision-making skills

Explanation / Answer

1. True

Strategy is the the broader goal of the whole organization and the organization works in order to achieve the strategic goal because that is the sole purpose but Tactics is the way or the process by which the actual purpose of strategy is achieved. Therefore tactics may change depending upon the situation of the organization but the strategy should remain constant because it is the organizational objective.

2. False

Competitive dynamics does not imply following the branded organizations only, instead it means that all the organizations competing in the same field should considered and the organization should think of doing something which the other organizations are not doing which is expected. The branded organizations can be observed and their way of doing business can be scrutinized but the actual competitors should be identified and depending on the resources the organization should act accordingly.

3. True

The organization is not losing money but the firms are unable to make something that will add to the value of business refers to profitless prosperity because the objective is to maintain the value of the organization even if the organization is running at loss for a couple of years. The organization should be able to make something out of their business and maintain the worth of the business in the market or grow and of the organization is unable to make any of them, then they are actually at a loss or can be stated as profitless prosperity.

4. True

Learning about the strengths and weakness of the organization is also important because self assessment will help the organization in gaining knowledge about what the organization is capable of which will help the organization do good in future and also there should be scope of changes that needs to be implemented too.

5

Knowledge of the market

strong leadership and group decision making skills.

The market knowledge is the most important aspect here because the details of the market, completion, industry trend, value of the organization is the market, etc. is very much important initially because based on this data it is possible for an organization to go ahead with a proper plan of action.

Again leadership and group decision making skills is important initially because the leader will show the path in which the organization should move and the team should be aware of the objectives and also the amenities required to fulfill the objective through their understanding and knowledge about the market and the organization..

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.