Exam 8: Strategy Formulation and Execution

Top managers and chief executives have the final responsibility for strategic planning.

_____ can be defined as the combination of benefits received and costs paid for by the customer.

Executives acquire information about external opportunities and strengths from a variety of reports, including budgets, financial ratios, profit and loss statements and surveys of employee attitudes and satisfaction.

The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as _____.

A(n) _____ strategy seeks to achieve both global integration and national responsiveness.

Some companies hire competitive intelligence professionals to scan the external environment and provide data and research on relevant domestic and global trends.

Which of the following strategies involves an attempt to distinguish the firm's products or services from others in the industry?

The combination of benefits received and costs paid by the customer refers to value.

The BCG matrix organizes along which of the following dimensions?

Which of these questions is central to a functional-level strategy?

The standardization of product design and advertising strategies throughout the world is called _____.

In the BCG matrix, the star has a(n) _____ market share in a rapidly growing industry.

_____ level strategy pertains to the planning for major functional departments within the business unit.

What type of organizational unit has a unique business mission, product line, competitors and markets relative to other units in the same corporation?

The plan of action that prescribes resource allocation and other interrelated activities for dealing with the environment and helping the organization attain its goals is known as a(n) _____.

With a(n) _____ strategy, the organization concentrates on a specific regional market or buyer group.

In order to protect an organization's mission, the human resource functions are removed from strategic goals.

With a(n) _____ strategy, the organization concentrates on a specific regional market or buyer group.

The question How do we compete? concerns _____ strategy.

Which of the following refers to the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan?