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