Match List - I with List - II. List - I Tools List - II Proposed by (A) Balance Score Card (I) Heing weitrich (B) TOWS Matrix (II) C.W. Hofer (C) Product/Market Evolution Matrix (III) Roberts Kaplan and David P. Norton (D) VRIO Frame Work (IV) Jay Barney Choose the correct answer from the options given below:
(A) - (III), (B) - (I), (C) - (II), (D) - (IV)
Understanding Business Strategy Tools and Their Creators
This question asks us to match different business strategy tools from List - I with the individuals who proposed them from List - II. Understanding who developed these frameworks is important for grasping their context and application in strategic management.
Matching Strategic Management Tools and Proponents
Let's look at each tool and its proposer:
- Balance Score Card: This is a performance management framework used to identify and improve various internal business functions and their resulting external outcomes. It was developed by Roberts Kaplan and David P. Norton.
- TOWS Matrix: This is a strategic planning tool that helps translate the internal analysis (Strengths, Weaknesses) and external analysis (Opportunities, Threats) into potential strategies. It is an extension of the SWOT analysis and was proposed by Heinz Weihrich.
- Product/Market Evolution Matrix: This matrix helps analyze a company's portfolio of products based on their stage in the product/market evolution lifecycle. It was developed by Charles W. Hofer.
- VRIO Frame Work: This framework is used to analyze a firm's internal resources and capabilities to see if they can be a source of sustained competitive advantage. VRIO stands for Value, Rarity, Imitability, and Organization. It was proposed by Jay Barney.
Correct Matching of Business Tools
Based on the information above, we can create the correct pairings:
| List - I (Tools) | List - II (Proposed by) | Match |
|---|---|---|
| (A) Balance Score Card | (I) Heing weitrich | (A) matches (III) Roberts Kaplan and David P. Norton |
| (B) TOWS Matrix | (II) C.W. Hofer | (B) matches (I) Heing weitrich |
| (C) Product/Market Evolution Matrix | (III) Roberts Kaplan and David P. Norton | (C) matches (II) C.W. Hofer |
| (D) VRIO Frame Work | (IV) Jay Barney | (D) matches (IV) Jay Barney |
Therefore, the correct matching is:
- (A) - (III)
- (B) - (I)
- (C) - (II)
- (D) - (IV)
Revision Table: Strategic Tools and Proposers
| Strategic Tool | Proposer(s) |
|---|---|
| Balance Score Card | Roberts Kaplan and David P. Norton |
| TOWS Matrix | Heing weitrich |
| Product/Market Evolution Matrix | C.W. Hofer |
| VRIO Frame Work | Jay Barney |
Additional Information: Understanding Business Frameworks
Here is a brief overview of each strategic framework mentioned:
- Balance Scorecard: Goes beyond traditional financial metrics to include customer, internal process, and learning and growth perspectives. It links strategic objectives to comprehensive performance measures.
- TOWS Matrix: Helps managers generate strategic options by systematically considering how internal strengths and weaknesses interact with external opportunities and threats. It helps in formulating offensive (SO), defensive (ST), turnaround (WO), and diversification (WT) strategies.
- Product/Market Evolution Matrix: Often used in portfolio analysis, similar to the BCG matrix or GE/McKinsey matrix, but focuses on the lifecycle stage of the market and the company's position within it. It helps in resource allocation decisions.
- VRIO Framework: A key tool in resource-based view (RBV) of the firm. It examines whether a resource or capability is Valuable, Rare, difficult to Imitate, and the firm is Organized to capture its value. If all four conditions are met, the resource can provide a sustained competitive advantage.
Important Questions from Miscellaneous
A stone is thrown horizontally from the top of a 20 m high building with a speed of 12 m/s. It hits the ground at a distance R from the building. Taking g = 10 m/s2 and neglecting air resistance will give :
A sphere of volume V is made of a material with lower density than water. While on Earth, it floats on water with its volume f1V (f1 < 1) submerged. On the other hand, on a spaceship accelerating with acceleration a < g (g is the acceleration due to gravity on Earth) in outer space, its submerged volume in water is f2V. Then:
A railway wagon (open at the top) of mass M1 is moving with speed v1 along a straight track. As a result of rain, after some time it gets partially filled with water so that the mass of the wagon becomes M2 and speed becomes v2. Taking the rain to be falling vertically and the water stationery inside the wagon, the relation between the two speeds v1 and v2 is :
Consider the following statements:
1. Distance between the longitudes becomes zero on North Pole and South Pole.
2. Distance between the longitudes is maximum on the Equator.
3. Number of longitudes is more than number of latitudes.
Which of the statements given above is/are correct?
One block of 2⋅0 kg mass is placed on top of another block of 3⋅0 kg mass. The coefficient of static friction between the two blocks is 0⋅2. The bottom block is pulled with a horizontal force F such that both the blocks move together without slipping. Taking acceleration due to gravity as 10 m/s2, the maximum value of the frictional force is :
