Exam 8: The Manager As a Planner and Strategist

Jason is pursuing a focused differentiation strategy for his startup business. How will technology (IT)affect his small company's competitiveness against larger and more powerful companies?

An organization consistently invests above the industry average in research and development. As a result, it is able to offer exclusive product features although product pricing is higher to account for the additional investment. This organization is using a ________ strategy.

The first step of strategy implementation is

ANC Inc. operates with planning horizons greater than five years. However, it is difficult to predict competitive conditions five years in the future, so the top managers implement a plan that involves regular reviews and updates in all levels of the company. The plan enables the company to respond quickly and to make adjustments as necessary. This is an example of a(n)________ plan.

With a ________ strategy, managers aim to make their organization the most distinguished company serving just one or a few segments of the overall market.

As managers plan for the future, it is important to handle unexpected circumstances. By developing backup plans with alternative courses of action defined in case conditions change, managers are conducting ________ planning.

A multidomestic company identifies a risk that regulations in some national markets will likely change over time. Such changes could impact product design and distribution in each market and have varying impacts on the company's financial success. What technique would best address the possible impacts of this risk when formulating strategic plans?

A recent SWOT analysis determines that a company's controls allowed inventory levels of some products to rise while other products to consistently be out of stock. The firm would classify this as a potential

A mission statement is the set of decisions that managers make to assist the organization in attaining its goals.

Explain the differences between standing and single-use plans and describe when each type might be used.

Differentiate global strategy from multidomestic strategy for a business wanting to compete abroad. Discuss the advantages and disadvantages of each strategy.

The CEO of a restaurant chain announces that the company will be fully compliant with improved nutritional standards within the next three years. As the marketing manager for the restaurant, Brenda is tasked with developing goals and a plan for promoting the changes in concert with other areas within the company. Brenda's efforts are considered ________ planning.

To lower costs, the divisional head of an organization decides to set up the division's technical support center in another country. This is an example of a business-level strategy.

Planning is an essential activity in any organization. Discuss the four primary benefits of planning.

As CEO of his company, Bill works with a team of executives to make decisions pertaining to the organization's mission, overall strategy, and structure. These decisions are part of the organization's ________ plan.

________ is a corporate-level strategy that emphasizes reinvesting a company's profits in strengthening its competitive position in its current industry.

Explain the purpose of Michael Porter's five forces model. List the five factors that Porter identifies as major threats and describe their impacts.

Celia is part of the team responsible for providing human resource planning and services for the rest of the company. Her team would be considered ________ managers.

In a small developing country, the percentage of the population switching to cellular technology in recent years has been rapidly increasing. A multinational telecommunication services company decides to take advantage of this change by installing network infrastructure and establishing a sales presence in that country. This is an example of a ________ strategy.

The final step managers face when implementing a strategy is