(AFI) Strategy Framework.
In strategic management, strategists engage in three pillars. Which of the following is not one of
these three pillars?
the implementation of major goals and objectives
the analysis of major goals and objectives
the formulation of major goals and objectives
the unification of major goals and objectives
The strategic management process follows the AFI framework; analysis, formulation and
implementation.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
20.
Award: 1.00 point
21.
Award: 1.00 point
Which of the following tasks in the AFI strategy framework involves evaluating the internal and
external environments in which a firm operates?
analysis
formulation
implementation
competitive advantage
Strategic analysis, the “A” in the AFI strategy framework, includes analyzing the internal and external
environments of a firm.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
The goal of a good strategy is focused primarily on
creating superior value while containing costs.
making as much money as possible.
employing lean manufacturing and Six Sigma.
encouraging investors to buy more shares of the firm.
A good strategy is about creating value while containing costs in order to achieve competitive
advantage for the firm.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-01 Explain the role
of strategy in a firm's quest for
competitive advantage.
22.
Award: 1.00 point
23.
Award: 1.00 point
The AFI framework (analysis, formulation, implementation) affects a firm at nearly every level. Which
of the following would be classified as the top level of strategy within a firm?
the functional level
the business level
the operational level
the corporate level
The corporate level of strategy is the top level that drives the overarching organizational goals that
trickle down to the business and functional levels.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
A successful strategy details a set of goal-directed actions that managers make to gain and sustain
a competitive advantage; in order to create this strategy, managers must focus on three pillars.
Which of the following below is not one of these pillars?
formulation
execution
implementation
analysis
The three pillars of strategy are Analysis, Formulation, and Implementation.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.
24.
Award: 1.00 point
When the strong dictatorial rule in Arlington unexpectedly collapsed due to the shocking death of
the royal family in an explosion, the nation’s economy experienced drastic changes. The laws
became more restrictive, the country lost many locally produced resources and products, and the
distribution of wealth became inequitable. The unexpected event that led to these changes can
best be described as a(n) ________ event.
extinction
wild card
black swan
miracle
The unexpected event that led to these changes can best be described as a black swan event. The
metaphor of a black swan describes the high impact of a highly improbable event.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-03 Assess the
relationship between stakeholder
strategy and sustainable competitive
advantage.
25.
Award: 1.00 point
Due to several black swan events in the past, the
shareholders of public companies have become more confident in investing their
resources in businesses.
need for corporate governance and transparency has decreased within various industries.
nations around the globe have explicitly appreciated and accepted capitalism as an
economic system.
implicit trust relationship between the corporate world and society at large has
deteriorated.
The implicit trust relationship between the corporate world and society at large has deteriorated
due to the arrival of several black swans.