Award: 1.00 point
86.
Award: 1.00 point
Which of the following stages in the AFI strategy framework involves designing a business,
corporate, and global strategy?
strategy control
strategy implementation
strategy analysis
strategy formulation
Strategy formulation involves formulating a business strategy: How should the firm compete (cost-
leadership, differentiation, or integration)?; Corporate strategy: Where should the firm compete
(industry, markets, and geography)?; and Global strategy: How and where (local, regional, national,
and international) should the firm compete around the world?
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
Which of the following tasks in the AFI strategy framework involves putting the formulated strategy
into practice through organizational structure, culture, and controls?
strategy formulation
strategy implementation
strategy analysis
strategy evaluation
Strategic implementation, the “I” in the AFI strategy framework, includes organizing the firm (its
structure, culture, and controls) to put the formulated strategy into practice.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
87.
Award: 1.00 point
During strategy implementation, managers primarily focus on deciding the
type of corporate governance that is most effective and ways in which it can put the
formulated strategy into practice.
industries and markets the firm should compete in to be able to gain and sustain a
competitive advantage.
relationship between competitive advantage and firm performance.
role strategic leaders should play in gaining and sustaining a competitive advantage.
During strategy implementation, managers focus on the following questions: How should the firm
organize to put the formulated strategy into practice? What type of corporate governance is most
effective? How does the firm anchor strategic decisions in business ethics?
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
88.
Award: 1.00 point
Which of the following provides an example of what AFI strategy framework is used for?
Using AFI, the Quest Auto firm was able to implement a strategy that produced high-
quality cars more efficiently and thereby reduced costs.
Using AFI, the Fine Dine Restaurant Group was able to improve employee benefits and
thereby increase employee loyalty.
Using AFI, the Mossimo Apparel Company was able to implement a strategy that allowed
them to give more money to charities and thereby gain good press.
Using AFI, the Pure Tea Group was able to reduce the pollution it caused while processing
tea and thereby receive an award.
Managers use the AFI 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. By producing high-quality cars at a low price and thereby increasing sales, the Quest
Auto firm implemented a strategy that resulted in superior performance.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
89.
Award: 1.00 point
90.
Award: 1.00 point
What part of the AFI strategy framework does the question “ How does the firm make money?”
relate to?
strategic leadership and the strategy process
competitive advantage, firm performance, and business models
external analysis
internal analysis
While completing the business model of the AFI strategy framework, a firm addresses the question:
How does the firm make money?
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
While creating its AFI strategy framework, Gordon’s Consultants decided what markets the firm
should compete in. By doing this, what type of strategy did the company devise?
business strategy
corporate strategy
global strategy
ethical strategy
Corporate strategy involves deciding where a firm should compete, which includes industry,
markets, and geography.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the