Exam 8: Strategy Formulation and Implementation

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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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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.

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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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The question mark has a

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____________________ and ____________________ represent the ultimate step in collaborative relationships.

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Stability is sometimes called _________________________.

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A multidomestic strategy standardizes global products/advertising strategies.

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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.

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The question What business are we in? concerns _________________________ strategy.

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One of Porter's five competitive forces is bargaining power of customers.

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Joint Venture represents the ultimate in collaborative relationships.

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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?

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List the three global corporate strategies.

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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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