share continue to decline.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-02 Define
competitive advantage, sustainable
competitive advantage, competitive
disadvantage, and competitive parity.
80.
Award: 1.00 point
81.
Award: 1.00 point
The ________ is a model that links strategy analysis, strategy formulation, and strategy
implementation, which together helps managers plan and implement a strategy that can improve
performance and result in competitive advantage.
Ansoff’s growth strategy matrix
AFI strategy framework
Sarbanes-Oxley Act
stakeholder impact analysis
The AFI strategy framework is a model that links three interdependent strategic management tasks
—analyze, formulate, and implement—that, together, help managers plan and implement a strategy
that can improve performance and result in competitive advantage.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
Managers use the AFI strategy framework to
help their business achieve and sustain competitive parity.
minimize the wealth of their shareholders.
help reduce the economic contribution of their business.
explain and predict differences in firm performance.
Managers use the AFI strategy framework to do two things: (1) to explain and predict differences in
firm performance, and (2) to help managers formulate and implement a strategy that results in
superior performance.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
82.
Award: 1.00 point
According to AFI strategy framework, in which of the following tasks of strategic management is a
firm’s vision, mission, and values identified?
strategy control
strategy analysis
strategy formulation
strategy implementation
In strategy analysis the topics covered are: Strategic leadership and the strategy process: What
roles do strategic leaders play? What are the firm’s vision, mission, and values? What is the firm’s
process for creating strategy (how does strategy come about)?
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
83.
Award: 1.00 point
In the AFI strategy framework, strategy analysis primarily involves
evaluating the effects of internal resources and core competencies on a firm’s potential to
gain and sustain a competitive advantage.
designing a business, corporate, and global strategy to gain and sustain a competitive
advantage.
organizing a firm in order to effectively put the formulated strategy into practice.
deciding the type of corporate governance that would be most effective in the
implementation of a strategy.
Strategy analysis involves internal analysis, that is, what effects do internal resources, capabilities,
and core competencies have on the firm’s potential to gain and sustain a competitive advantage?
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
84.
Award: 1.00 point
You are the manager in charge of setting the strategy for a new fast-casual restaurant. Which of the
following questions would be appropriate for you to ask during the analysis phase of the AFI
strategy framework?
Should we open our first location in Los Angeles or New York City?
How have consumer preferences in the fast-casual restaurant industry changed in the last
five years?
Should we be competing nationally or internationally?
Can we secure relationships with enough organic farmers to meet our commitment to
using the healthiest ingredients?
During the strategy analysis phase of the AFI strategy framework, managers consider the internal
and external environment, as well as the role of strategic leaders and how the firm can assess and
achieve a competitive advantage. By considering recent changes in consumer tastes, you are
analyzing the external environment and the effect that it will have on company performance.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
85.