Exam 8: Strategy Formulation and Execution

List the four components of a SWOT analysis.

_____ is the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

When Philip-Morris, the tobacco giant, bought Kraft, Inc., it was pursuing a _____.

The purpose of _____ is to expand the firm's business operations to produce new kinds of valuable products and services?

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

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

Communication is one of the most important methods for effective strategy execution.

Some people argue that _____ is the most difficult and most important part of strategic management.

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

Business-level strategies include all of the major functions, including finance, research and development, marketing, and manufacturing.

Opportunities are characteristics of the internal environment that have the potential to help the organization achieve or exceed its strategic goals.

_____ is a type of corporate-level strategy that pertains to the organization's mix of strategic business units.

FLY Industries is a global conglomerate company headquartered in the United States that does business in over fifty countries. The company seeks to balance global efficiencies and local responsiveness by hiring locally as well as from home. It can best be described as using which global corporate strategy?

Briefly discuss Porter's three competitive strategies.

Double Click, Inc. has a number of strategic business units. Their hand-held computer unit has a large market share in this rapidly growing industry. Their hand-held computer business would be classified as:

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

The _____ strategy involves seeking efficient facilities, cutting costs and using tight cost controls to be more efficient than competitors.

In the BCG matrix, the dog has _____ market share and _____ business growth rate.

Managerial dilemmas are unique to organizations that operate globally, and therefore, strategic management must also be unique. Write a short essay that compares and contrasts globalization, multidomestic, and transnational strategies. Discuss the factors that you feel would determine which strategy should be used.

Three frameworks for corporate-level strategy are portfolio, the BCG matrix, and diversification. Write a short essay that explains each approach to corporate-level strategy. Be sure to give your assessment of whether these approaches create synergy in an organization. Finally, identify which of the three approaches you think is most valid, and explain your rationale for your choice.