ACCA Strategic Business Leadership Models 3

Question 1

In the VRIO framework, which condition must be met for a resource to be a source of sustained competitive advantage?

Accepted Answer

Valuable, Rare, Inimitable, and Organized

Answer

VRIO stands for Valuable, Rare, Inimitable (costly to imitate), and Organized—all four criteria must be met for sustained competitive advantage.

Question 2

Which element sits at the center of the Cultural Web model, representing the taken-for-granted assumptions of an organization?

Accepted Answer

The paradigm

Answer

The paradigm sits at the center of the Cultural Web and represents the core set of assumptions and beliefs that are taken for granted within the organization.

Question 3

According to Mintzberg's organizational configurations, which structure suits highly skilled professionals working relatively independently, such as a university?

Accepted Answer

Professional bureaucracy

Answer

Professional bureaucracy coordinates through the standardization of skills, making it suitable for organizations like hospitals or universities employing highly trained specialists.

Question 4

Kotter's 8-step change model places 'creating a sense of urgency' as which step?

Accepted Answer

Step 1

Answer

Establishing urgency is deliberately the very first step in Kotter's model because without it, employees are unlikely to engage with or support the change effort.

Question 5

In the Mendelow Stakeholder Matrix, how should an organization manage stakeholders with HIGH power but LOW interest?

Accepted Answer

Keep satisfied

Answer

High-power, low-interest stakeholders should be kept satisfied to prevent them from becoming actively opposed to the organization's strategy.

ACCA - Association of Chartered Certified Accountants Practice Test

ACCA - Association of Chartered Certified Accountants Practice Test

ACCA Strategic Business Leadership Models 3