Question 1

From the answers available select all options that could be potential customer 'costs?

Switching costs

Monetary costs

Emotional costs

Opportunity costs

Question 2

The value of a market offering is ultimately determined by:

The shareholder

The customer

The value exchange rate

The CEO of the organisation

Question 3

Lots of research has shown us that an organisation-wide customer and market orientation has:

A negative effect on organisational performance

No effect on organisational performance

A positive effect on organisational performance

Research into this area has not been conducted yet

Question 4

Imagine a customer that is used to buying her apples from a local fruit shop, and enjoys the friendly conversions with the store owner, the positive relationship the customer experiences every time is part of the benefit she sees in interacting with the fruit shop and its owner. Now imagine a large supermarket chain, such as Woolworths, Walmart or Foodworld opens up across the road. Switching to the large grocery chain store is easy, you just cross the road. The price of the apples may be the same - or even cheaper. However, the customer would now face the cost of losing the connection to the fruit shop owner if she chooses to go to the large grocery chain store across the road. What cost is this an example of?

Opportunity cost

Monetary cost

Emotional cost

Loneliness cost

Question 5

From the options below select the examples that your organisation could use to directly deliver valuable 'customer benefits':

Employing the cheapest labour possible in order to reduce costs

Bringing a new innovative product to market that solves a customer's problem

Providing great after sales customer service

Improving your organisation's supply chain management

Question 6

Nokia failed to continue being an industry leader of the telecommunications industry. What reason does the instructor give for Nokia's failure to stay at the top?

Nokia failed to expand internationally

Nokia failed to produce enough phones to keep up with demand

Nokia's supply chain management was poor

Nokia failed to adjust its competitive strategies to align with changing industry conditions, and advancements in technology

Question 7

According to the instructor what questions are asked at the 'corporate strategy level?

What business or businesses should we be in?

What business or businesses are we in?

How should we allocate resources to achieve our objectives?

How much money can we make for our shareholders?

Question 8

What is business strategy all about?

Business strategy is about protecting the environment from big businesses that pollute

Business strategy is about looking after your staff's mental health and well-being

Business strategy is about matching resources and capabilities with the external environment.

Business strategy is about matching your competitors on price

Question 9

Strategic decisions are those that?

Are important to the long-term survival of the organisation

Are highly important in the short-term future of the organisation

Involve a significant commitment of time and resources

Are not easily reversed

Question 10

From the following what are the examples of functional level strategies?

In HR, what staff profiles do we need to recruit to be able to implement our strategy effectively on the ground?

In marketing, how do we specify the target market(s) for a particular product or product line?

How do we ensure that our shareholders make a profit?

How can we allocate our financial resources appropriately across various business units?