Exam 5: Developing Mission, Vision, and Values

What are the most prominent factors that experience shows to affect the intensity of firm's rivalries?

According to the diamond strategy, why are vehicles considered part of the strategy?

Strategy formulation answers the question:

An organization pursuing a strategy as discipline seeks competitive advantage by offering products or services that are unique from those offered by rivals.

A ______________ strategy refers to the strategy where competitive advantage is based on superior products or service.

Why do firms pursing a differentiation strategy become vulnerable to different competitive threats more than firms pursing a cost leader strategy?

Where does strategy formulation fit within the POLC framework?

_______________ refers to the strategy where competitive advantage is based on superior products or service.

_________________ reflects what a firm is doing to achieve its mission and vision, as seen by its achievement of specific goals and objectives.

The primary determinant of realized strategy is what Mintzberg terms _________________.

What are the two schools of thought regarding strategy?

Many firms have valuable and rare resources that they fail to exploit.

________________ is sometimes called business planning or strategic planning.

The stronger the power of _____________ in an industry the more difficult it is for firms within that sector to make a profit.

The strategic planning systems of most companies involve a combination of design and _____________. Short

How does Chuy's, a chain of Austin, Texas-based Tex-Mex restaurants, demonstrate the facet of staging and pacing of the strategy diamond in their strategy for growth?

A firm's performance relative to industry peers is likely to vary according to the level to which resources, capabilities, and ultimately core competences satisfy VRIO criteria.

Evidence suggests that companies often find it difficult to identify new customers.

Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns, includes which of the following?

The stronger the power of suppliers in an industry the more likely it is that they will be able to force down prices and reduce the profits of firms that provide the product.