bus313 final exam
The cornerstone of Blue Ocean Strategy is the 6 paths framework.
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The right strategic sequence is: price, buyer utility, cost, and adoption.
Going into the field to explore the six paths to creating blue oceans is which step when visualizing strategy?
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Question 4 of 25 | 4.0 Points | |||||||||||||||||||||||||||||||
NABI applied which of the 6 paths framework to reframe the U.S. transit bus industry?
A. Look across chain of buyers | ||||
B. Look across strategic groups within industries | ||||
C. Look across alternative industries | ||||
D. Look across complementary product and service offerings | ||||
Question 5 of 25 | 4.0 Points | |||
With uncovering blocks to buyer utility the aim is to check whether your offering passes the exceptional utility test, as did the Model T.
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Question 6 of 25 | 4.0 Points |
During the visual awakening step of visualizing strategy, companies should compare their business with their competitors by drawing an “as is” strategy canvas.
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It does not make a difference to know the right strategic price from the start when trying to move from exceptional utility to strategic pricing.
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Companies mistakenly forfeit unexplored noncustomers because they assume these noncustomers’ need and the business opportunities associated with them belong to other markets.
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Question 9 of 25 | 4.0 Points |
Expectation clarity requires that after a strategy is set, managers state clearly the new rules of the game.
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Question 10 of 25 | 4.0 Points |
Strategic pricing addresses the profit side of the business model.
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Question 11 of 25 | 4.0 Points |
When asking the question, “How much time do they take,” you are testing which of the 6 utility levers of the buyer experience cycle?
A. Maintenance | |||
B. Purchase | |||
C. Use | |||
D. Supplements | |||
E. Disposal | |||
F. Delivery |
Reset Selection
The organizational hurdle that works to waking employees up to the need for a strategic shift is the motivation hurdle.
Question 13 of 25 | 4.0 Points |
Fundamental strategic differences among industry players are captured by a small number of strategic groups. This is part of which 6 paths framework:
A. Look across strategic groups within industries | ||||
B. Look across alternative industries | ||||
C. Look across functional or emotional appeal to buyers | ||||
D. Look across chain of buyers | ||||
Question 14 of 25 | 4.0 Points | |||
Comparing the business with competitors, observing distinctive advantages of alternative products, getting feedback on alternative strategy canvases, and distributing before-and-after strategic profiles are all part of:
A. Six paths framework | ||||
B. Four steps of visualizing strategy | ||||
C. Four actions framework | ||||
D. Eliminate-reduce-raise-create grid | ||||
Question 15 of 25 | 4.0 Points | |||
The blue ocean index (BOI) provides a simple but robust test of the system view to building blue ocean strategy in the sequence of utility, price, cost, and adoption.
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Question 16 of 25 | 4.0 Points | |
When you are answering legal or environmental issues, you are testing which of the 6 utility levers of the buyer experience cycle?
A. Disposal | ||||||||
B. Maintenance | ||||||||
C. Supplements | ||||||||
D. Purchase | ||||||||
E. Use | ||||||||
F. Delivery | ||||||||
Refusing noncustomers are people who cannot afford to use the current market offerings because they find those offerings unacceptable or beyond their means.
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Question 18 of 25 | 4.0 Points | |||||||
Poor process can save strategy execution.
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Question 19 of 25 | 4.0 Points |
Asking the question, “What trends have a high probability of impacting your industry, are irreversible, and are evolving in a clear trajectory?” you are applying which of the 6 paths framework?
A. Look across functional or emotional appeal to buyers | |||
B. Look across alternative industries | |||
C. Look across chain of buyers | |||
D. Look across time |
Question 20 of 25 | 4.0 Points |
When creating new market space, the only way to beat the competition is to stop trying to beat the competition.
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Question 21 of 25 | 4.0 Points |
During the visual communication step of visualizing strategy, it is recommended that companies support only those projects and operational moves that allow the company to close the gaps to actualize the new strategy.
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Question 22 of 25 | 4.0 Points |
The 6 stages of the buyer utility map include all of the following EXCEPT:
A. Delivery | |||
B. Use | |||
C. Purchase | |||
D. Price |
Question 23 of 25 | 4.0 Points |
In most cases, a blue ocean strategy will go without credible challenges for ten to fifteen years.
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Question 24 of 25 | 4.0 Points |
Which of the following Blue Ocean Strategy concepts outlines all the levers companies can pull to deliver exceptional utility to buyers as well as the various experiences buyers can have with a product or service?
A. Buyer Utility Map | |||
B. Four Action Framework | |||
C. Eliminate-Reduce-Raise-Create Grid | |||
D. Six Paths Framework |
Reset Selection
Question 25 of 25 | 4.0 Points |
Which of the following is NOT part of the 6 paths framework:
A. Look across competitors’ strategy canvas | |||
B. Look across strategic groups within industries | |||
C. Look across functional or emotional appeal to buyers | |||
D. Look across alternative industries |
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Rating:
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Solution: bus313 final exam