Exam 6: Planning, Strategy, and Competitive Advantage

Industries that are characterized by permanent, ongoing, intense competition brought about by advancing technology or changing customer tastes, fads, and fashions are an example of

To avoid development costs, a U.S. tennis racquet company forms a licensing agreement with a South African company, which allows the

An advantage of the differentiation strategy is

Great Deal, Inc., is a highly profitable clothing store chain. Dom, the CEO, has decided it is time for the company to increase its competitive advantage. Dom is not worried about stability and wants to make sure he is able to be knowledgeable about all aspects of the company. Which of the following should Dom do?

Discuss Michael Porter's five forces model and give an example for each force.

FinePrint, Inc., is a major book publisher in the United States. However, the future of book sales is unpredictable, thereby making FinePrint's position precarious. Which of the following should the CEO of FinePrint do in order to provide the greatest stability for the company?

When PepsiCo purchased Frito-Lay and expanded its operations into the snack-food business, it was pursuing a ________ strategy.

The corporate-level plan outlines the specific methods a division, a business unit, or an organization will use to compete effectively against its rivals in an industry.

When Gallo purchased a company that makes wine bottles, it was involved in ________ integration.

Olav is the CEO for Blue Stone, Ltd., which makes costume jewelry designed by a Spanish artist named Valeria. As a result, this jewelry has strong appeal in areas of the United States with a large Latino population. However, the U.S. market already has two companies that make high-quality costume jewelry, which are popular with people who have a mid-to-high range income. Considering all of these elements, what should Olav do to ensure Blue Stone gains market share and is profitable?

To implement the fifth step of the strategic implementation process, a manager would

According to Porter, organizations cannot simultaneously pursue both a low-cost strategy and a differentiation strategy. Illustrate why. Show how exceptions to this "rule" can be found, and give an example to demonstrate the point.

List and describe the four ways to expand internationally.

Firestone Tire and Rubber Company set up a chain of Firestone retail stores to sell its tires to American consumers. This is an example of

Which of the following is most likely to require a short-term plan?

Hemisphere Corporation decides to enter a new type of business in order to create a competitive advantage in one of its existing businesses. Hemisphere is engaging in

Two divisions of a company decide to use the same manufacturing facilities to capitalize on the organization's excess capacity and to reduce the fixed costs assigned by corporate headquarters. This is an example of

Callista is a manager at ThrillSeeker, Ltd., a company that makes amusement park rides. She has decided that she would like to create value by purchasing one of the companies that produces the materials ThrillSeeker needs to make its rides. She has already chosen a team of people and assigned them the responsibility to making sure the purchase happens. What should she do next?

The planning and strategy making necessary to increase the efficiency and effectiveness of a particular function are the responsibility of a

Procter & Gamble uses a joint sales force to sell both its laundry detergent products and its bath soap products to the same supermarket chains. This is an example of