Strategy for Product Manager Instructions:Number of questions: 13Time limit: 4 minutesMust be finished in one sitting. You cannot save and finish later.Questions displayed per page: 1Will allow you to go back and change your answers.Will not let you finish with any questions unattempted. 1 / 13 Effective strategy depends just as much on: What you choose not to do as it does on what you choose to do Tactics as it does goals and objectives The economy as it does on your core competencies 2 / 13 Which one of the following is not a pitfall of an organization in strategic planning? Failing to involve key employees in all phases of planning Using plans as a standard for measuring performance Hastily moving from mission development to strategy formulation Using strategic planning to gain control over decisions and resources 3 / 13 Strategy and tactics represent: How you will achieve your goals and objectives Long and short term goals A balanced scorecard indicating business performance 4 / 13 At the heart of business strategy is: he intelligent allocation of limited resources Distributing resources across all potential growth opportunities Working to be better and faster than the competition 5 / 13 Strategic thinking can be defined as: Using SWOT Analysis to identify opportunities and threats Annual process for creating a strategic plan The ability to generate business insights on a continual basis 6 / 13 What is a strategy? A description of how objectives will be achieved. An action plan Formulating goals The marketing process Formulating objectives 7 / 13 The three disciplines of strategy are: Customer focus, service, and product leadership People, strategy, and process Acumen, allocation, and action 8 / 13 An objective is: The specific outcome you’re trying to achieve The future purpose of the organization The general outcome you’re trying to achieve 9 / 13 Good strategy requires managers to Develop an exit strategy for the business Not be all things to all people Serve as many customers as possible 10 / 13 What are important components of any successful product Product roadmap Backlog and Execution Product Vision Product Strategy All above 11 / 13 A goal is: The general outcome you’re trying to achieve The current purpose of the organization The specific outcome you’re trying to achieve 12 / 13 Goals and objectives represent: What you are trying to achieve How you will achieve your mission and vision The tactical means of achieving business success 13 / 13 Successful business strategy is about: Providing differentiated value to customers Having the “right people on the bus Being better than the competition Your score is 0% Restart quiz
