1. According to a recent news report, a significant percentage of airline travel is driven by people flying from one city to another to attend face to face meetings. The report also suggested that according to an airline strategist, this trend will continue to grow driven by the global economy. In another news report on technology, it was reported that on line video conferencing has become inexpensive (in fact free in some cases) and very high quality. From the perspective of the airline, which of Porter's 5 forces best categorizes video conferencing?

a) Supplier power

b) Customer power

c) Direct competitors, intensity of industry rivalry

d) New competitors, threat of new entrants

e) Indirect competitors, threat of substitute products or services

2. The GAP within strategic formulation and execution refers to:

a) The gap between the current situation and the corporate vision

b) The gap between the company's production facility and its market

c) The gap between senior management expectations and front line employees' behaviour

d) The gap between the customers' expectations on price and the company's costs

e) None of the above describes the reference to GAP

3. Lesson 6, formulation, outlines two formulation methodologies, the conceptually correct methodology and the practical and efficient methodology. The major difference between the two is the starting point. The conceptually correct method begins with ________________. The practical and efficient methodology begins with ____________________.

a) Situational analysis: Alternatives

b) Values, beliefs, ethics: Situational analysis

c) Alternatives: Financial inventory

d) Values, beliefs, ethics: Vision, purpose, mission

e) Asset inventory: Identification of market risk

4. Mintzberg's Emergent Strategy promotes:

a) Ability to think and act

b) Change in behaviour

c) Learning

d) Precludes learning

e) All of the above

5. Within the implementation map (PERT), the critical path is:

a) The path of events with the most critical events

b) The path of events that contains the most critical event

c) The path of events that contains the most critical opening event

d) The path of events that takes longer than any other path of events

e) The path of events that contains the final event

6. During implementation planning

a) Dependent events may be scheduled simultaneously while independent events must be scheduled in succession.

b) Independent events may be scheduled simultaneously while dependent events must be scheduled in succession.

c) Independent events must be scheduled simultaneously while dependent events must be scheduled in succession.

d) Both independent events and dependent events may be scheduled simultaneously or in succession.

e) None of the above answers are correct

7. Which of the following is a desirable attribute of a good strategic performance measure (metric)?

a) Tied directly to the financial reports

b) Historically consistent

c) Subject to independent audit

d) Tied to strategic goals (aligned)

e) All of the above are desirable attributes of a good strategic performance measure

8. Which of the following does not accurately describe financial reporting?

a) Aggregate planning

b) Leading / predictive

c) Historical performance

d) Process review

e) Subject to arbitrary account allocations during preparation

9. Which of the following is (are) benefits of measurement?

a) Determines current location relative to goals/targets

b) Identifies opportunities for improvement

c) Communicates direction and velocity / tells everyone what is important

d) All of the above are benefits of measurement

e) None of the above are benefit of measurement

10. Porter's Five (5) Forces examines the organization's current competitive position. This approach examines the following:

a) Direct & indirect competitors and customers

b) Customers, suppliers & stakeholders

c) New and / or unknown competitors and suppliers

d) a.) and b.)

e) a.) and c.)

11. Which of the following is one of the balance scorecard quadrants?

a) Learning and growth

b) Internal business processes

c) Customer

d) Financial

e) All of the above are balance scorecard quadrants.

12. Supply Management must ensure which of the following?

a) Supply to specifications (quantities, cycle time, quality, cost)

b) Support current and future supply chain relationships

c) Monitor changing legislation (for example: CSR, environmental)

d) Participation in corporate risk management programs

e) SM must ensure all of the above