Exam 8: Strategy Formulation and Execution

The question What business are we in? concerns the _____ strategy.

Strategic management is one type of planning, and it largely determines which organizations thrive and which ones struggle. It is the decisions and actions used to formulate and implement strategies that will give an organization a competitive advantage and enable it to reach its goals. Choose some type of business or specific, real-world organization, and start to develop a strategy for its long-term growth. Write a short essay that summarizes the components of strategic management that the organization needs to use, and provide examples of strategic plans and/or goals at the three organizational levels that would allow the organization to reach its objectives.

Corporate-level strategy pertains to the organization as a whole.

The BCG (Boston Consulting Group) matrix evaluates SBUs with respect to their business growth rate and geographical location.

_____ refers to the modification of product design and advertising strategies to suit the specific needs of individual countries.

The BCG matrix organizes along which of the following dimensions?

The "How do we compete?" question concerns functional-level strategy.

Core competence is the plan of action that prescribes resource allocation and other activities for dealing with the environment.

The question How do we support the business-level competitive strategy? concerns _____ strategy.