1. In Ansoff's matrix, product development involves going in the direction of
a) present products to present markets
b) present products to new markets
c) new products to present markets
d) new products to new markets
2. Which of these questions is not addressed by an effective business model?
a) What do customers value today?
b) Who are our customers?
c) What does the organization produce?
d) None of the above All are essential questions for effective business models
3. Which of the following would you not expect to see in a vision statement?
a) Descriptions of desirable future situations
b) Motivational terminology
c) Focus on the values to which the organization is committed
d) What the organization seeks to do to reach desirable future states
4. What are the decisions and actions that determine long-run performance of an organization?
a) strategies
b) missions
c) goals
d) opportunities
5. Which of the following does Campbell (1989) suggest to be a dimension of valuable mission statements?
a) Differentiates the business from competitors
b) States the objectives of the organization
c) Meaningful and relevant to stakeholders
d) States the values of the organization
6. Which of the following is one of the four key elements which must be adhered to if synergy is to be achieved?
a) Efficiency
b) Competitive strategies
c) Customer satisfaction
d) Effective leadership
7. An organization that is diversifying its product line is exhibiting what type of growth strategy?
a) stability
b) retrenchment
c) growth
d) maintenance
8. A stability strategy is particularly appropriate when
a) the firm is facing rapid growth opportunities
b) the industry is in a state of rapid upheaval
c) an organization is not meeting its goals
d) an organizations performance is declining
9. What is synergy?
a) When the organization is providing a product to the customer that perfectly suits their requirements
b) When the parts of an organization are combined and managed in such a way that the drawbacks exceed those which would result if the parts were operating separately
c) When the parts of an organization are combined and managed in such a way that the benefits exceed those which would result if the parts were operating separately
d) When the parts of an organization are combined and managed in such a way to reduce costs
10. What is Kelloggs main challenge for the future:
a) To create new products for a market that is both growing and declining according to geography whilst generating enough cash to advertise and launch new products
b) To create new products for a market that is both growing and declining according to geography
c) To create new products for a market that has the same tastes, whilst generating enough cash to advertise and launch new products
d) To not become adversely affected by increased competition again and adapt to changing customer tastes