FINAL EXAM – Strategic Management
1. BLANK is often defined as an agreement between two or more partners to share resources and
knowledge that could be beneficial to all parties involved. Strategic alliance
2. BLANK is a business relationship in which the brand owner (the franchisor) grants to another
party (the franchisee) the right to use the brand and the operating system that underpins it in
exchange for a percentage of the income it generates. Franchising
3. The BLANK allows for a separation of ownership and operations. With such an arrangement, the
owners act as investors who allow someone else to manage the property.
management contract
4. A BLANK can be defined as the participation of two or more companies in an enterprise in which
each party contributes assets, owns the entity to some degree, and shares the risks. joint
venture
5. BLANK is the process of using available knowledge to document the intended direction of a
business and the actionable steps to reach its goals. Strategy formulation
6. BLANK is the process of turning plans into action to reach a desired outcome.
Strategy implementation
7. The BLANK is the oldest and the most influential approach in the strategic management field.
This approach views strategy formation as the outcome of sequential, planned, and deliberate
procedures.
planning approach
8. This school of thought suggests that strategies often emerge from the pragmatic process of trial
and error and that they are often developed and executed in an incremental, trial-and error
way, mainly by middle managers, and that the strategy formulation and implementation stages
often overlap.
This approach is BLANK or Emergent Approach
Learning
9. The BLANK school of thought suggests that successful strategies are not developed and
implemented by a simple or single set of factors. Contingency
10. The BLANK approach suggests that organizations are adaptive systems that take the form of
nonlinear negative and positive feedback loops that connect the individuals, groups, functions,
and processes in an organization to one another, and connect an organization to other systems
in the environment.
Complexity
11. ICT means BLANK Information and Communication Technologies
12. BLANK Assets include company reputation and brand, product reputation and brand,
employee/leadership skills skills/experience knowhow, culture, networks, databases, suppliers
knowhow, distributor knowhow, public knowledge, contracts, intellectual property rights, and
trade secret.
Intangible
13. Peters and Philips developed an implementation framework including Strategy Formulation,
organizational structure, culture, people, communication, control, and outcome. F
14. Fear of losing something valuable is one of the barriers and resistance to Strategy
Implementation. T
15. Okumus (2003) grouped implementation factors into four categories: Strategic content,
strategic context, process and outcome.
T
16. Sustainable competitive advantage is the result of developing and combining several distinctive
competencies, which are eventually difficult to imitate and substitute by competitors. T
17. One of the sectors of the tourism industry with the most powerful organizations is the hotel
sector. F
18. CRSs expanded in the 1980s to become GDSs. The most prominent of these included Sabre, but
also the development of Galileo, Amadeus and Worldspan.
T
19. Airlines use technology to develop and manage their business model. T
20. The development of the Amadeus website provides potential travelers with details of previous
flight experiences. It also offers an airline rating system based on the quality of their service. F
21. EasyJet is the UK’s largest international scheduled airline, flying to over 300 destinations”. They
have also been large investors in ICTs.
F
22. ICTs “can create new problems if enterprises fail to introduce adequate, appropriate, rational
and innovative ICT resources”.
T
23. Companies enter into joint venture partnerships because they reduce the risk of failure by
sharing the burden with a partner, gain rapid market access, and internationally they can have
an increase in company and product acceptance by having a local firm serving as the direct
interface with the customer.
T
24. The franchisee sets up his or her own business, operating along the lines specified by the
franchisor and trading in the product or service previously market tested by the franchisor.
T
25. It includes operational planning, resources allocation, people, communication, and control
Operational process , Outcome Content Context
26. It includes the results of the implementation process.
Outcome, process, Context , Content
27. It refers to the environment in which strategies are developed and implemented.
Context Content Process Outcome
28. It refers to the description, selection, and justification of a certain strategy (or strategies).
Content Context Process Outcome
29. It can be defined as the desired future state of an organization. Mission Goals Strategy Vision
30. It refers to the general statements in terms of what the organization aims to achieve in a certain
period of time to fulfill its mission and vision.
Goals
Vision Mission Strategy
31. What are the three strategic alliances? BLANK BLANK BLANK
32. Franchising Management Contract
33. Joint Ventures
34. CRS means Computer BLANK Systems Reservation
35. GDS means Global BLANK Systems Distribution
36. Give atleast five strategy implementation factors based on Waterman, Peters, and Philips
37. Strategy
38. Structure Staff
39. System Skills
40. Style Subordinate goals
41. What are the Five School on the Process of Strategy Formation . The Planning Approac
42. The Learning or Emergent Approach
43. The Contingency Approach
44. The Configurational Approach
45. The Complexity Approach
46. What are the Five Sector of Tourism Industry?
