Exam 6: Planning, Strategy, and Competitive Advantage

An ongoing process in which managers build and refine previous plans and continually modify plans at all levels, corporate, business, and functional, so that they fit together into one broad framework, is known as

Managers at Ferwn Pvt., Ltd., is number two in market share in the local sports equipment manufacturing industry. As part of its business-level strategy, this company

FarHorizons, Inc., allows Banerjee, a foreign organization, to take charge of both manufacturing and distributing one or more of its products in India in return for a negotiated fee. This is an example of

TDS Corporation updates its five-year plan annually to take into account changing conditions within the organization and in the organization's external environment. Which of the following best explains this plan implemented by TDS Corporation?

The industries and national markets an organization intends to compete in and the reasons why are specified in a company's ________-level strategy.

Another name for the business level of the organization is the ________ level.

The cluster of decisions that managers make to assist an organization to achieve its goals is known as

The form of international expansion that gives an organization high potential return because the organization does not have to share its profits with a foreign organization and reduces the level of risk because the organization's managers have full control over all aspects of their foreign company's operations, is a

When General Electric Company expanded its operations by acquiring NBC television, this was an illustration of

Coca-Cola spends an enormous amount of money on advertising to distinguish, and create a unique image for, their products. Coca-Cola is pursuing a ________ strategy.

Apportioning financial resources among divisions to increase financial returns or spread risks among different businesses is called a ________ strategy.

The organizational strategy that specifies the activities of managers at the departmental level of the organization is a ________-level strategy.

The strategy that explains the methods that a division or an organization will use to compete against its rivals in the industry is a ________-level strategy.

A company has a requirement that any manager who receives a gift from any of the company's customers worth more than $25 must report this gift to the company's human resources department. This is an example of a

Strategy formulation begins with managers systematically analyzing the factors inside an organization and outside in the global environment that affect the organization's ability to meet its goals now and in the future.

List the process of strategy implementation.

To determine an organization's mission, managers must first define its

What happens when there are only a few large customers in the market?

Which of the following qualities of an effective plan allows for alterations if the situation changes?

An organization's level of involvement abroad decreases in a joint venture because the alliance rarely involves capital investment to produce goods or services outside the home country.