Exam 8: Strategy Formulation and Implementation
Exam 1: Managing in Turbulent Times174 Questions
Exam 2: The Evolution of Management Thinking179 Questions
Exam 3: The Environment and Corporate Culture167 Questions
Exam 4: Managing in a Global Environment192 Questions
Exam 5: Ethics and Social Responsibility178 Questions
Exam 6: Managing Small Business Start-Ups145 Questions
Exam 7: Managerial Planning and Goal Setting151 Questions
Exam 8: Strategy Formulation and Implementation162 Questions
Exam 9: Managerial Decision Making153 Questions
Exam 10: Designing Adaptive Organizations232 Questions
Exam 11: Managing Change and Innovation171 Questions
Exam 12: Human Resource Management162 Questions
Exam 13: Meeting the Challenge of Diversity126 Questions
Exam 14: Dynamics of Behavior in Organizations152 Questions
Exam 15: Leadership155 Questions
Exam 16: Motivation182 Questions
Exam 17: Communication155 Questions
Exam 18: Teamwork213 Questions
Exam 19: Managerial and Quality Control157 Questions
Exam 20: Information Technology and E-Business130 Questions
Exam 21: Operations and Value Chain Management145 Questions
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The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone is known as
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B
Briefly describe the five competitive forces identified by Michael E. Porter.
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Potential new entrants: Capital requirements and economies of scale are examples of two potential barriers to entry that can keep out new competitors.
Bargaining power of buyers: Informed customers become empowered customers.
Bargaining power of suppliers: The concentration of suppliers and the availability of substitute suppliers are significant factors in determining supplier power.
Threat of substitute products: The power of alternatives and substitutes for a company's product may be affected by changes in cost or in trends that will deflect buyer loyalty.
Rivalry among competitors: This is influenced by the previous four forces as well as by cost and product differentiation.
______________________________ is a type of corporate-level strategy that pertains to the organization's mix of strategic business units.
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Portfolio strategy
Terminating the existence of a business unit by selling it off for the cash value of its assets is known as ____________________.
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Globalization refers to the world-wide standardization of product design and advertising.
(True/False)
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The assumption that a single global market exists would lead to a
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____________________ means that the organization goes through a period of forced decline by either shrinking current business units or selling of or liquidating entire businesses.
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____________________ and ____________________ represent the ultimate step in collaborative relationships.
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A multidomestic strategy standardizes global products/advertising strategies.
(True/False)
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The bargaining power of the government, according to Porter, is one of the five competitive forces affecting an organization's competitive environment.
(True/False)
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The question What business are we in? concerns _________________________ strategy.
(Short Answer)
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One of Porter's five competitive forces is bargaining power of customers.
(True/False)
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Joint Venture represents the ultimate in collaborative relationships.
(True/False)
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The human resource department at Tyke's Tricycles is implementing a number of functional level strategies. These strategies include focusing on ways to retain and develop a stable work force and ways to improve efficiency in the organization. These functional-level strategies are consistent with which of the following strategies?
(Multiple Choice)
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All of the following are Porter's competitive forces EXCEPT
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The standardization of product design and advertising strategies throughout the world is called ____________________.
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The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as ______________________________.
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