Exam 4: Strategic Management and Planning in a Global Environment

Information gathered during the strategic analysis stage serves as a foundation for the implementation stage.

The purpose of a/an __________ is to identify those aspects of the environment that represent either an opportunity or a threat for the organization.

If a business emphasized efficiency of operations and economies of scale (Assume this strategy is appropriate to its situation.), its strategy probably would be one of

Match each term with the correct statement below. -those environmental forces that are beyond a firm's influence and over which it has no control

Strategic analysis requires three primary activities:

Stability strategies are designed to increase the sales and profits of the organization through diversification of the product line.

Feedforward controls compare the actual performance of the organization to its planned performance.

Economic forces are an important part of a firm's task environment.

Orange county's annual fair was poorly attended last year due to inclement weather. The weather and its impact on the festival represents the __________ environment.

A __________ should reflect the fundamental reasons for the organization's existence.

Guidance for current operations as well as guidance for the future is referred to as

According to the people who are willing to pay a higher price for a Toyota or Honda vehicle, Toyota and Honda are higher quality vehicles than those of the American automakers. This is an example of a __________ strategy.

Match each term with the correct statement below. -asks the question, "Where does the organization want to be?"

An organization monitors its progress toward its strategic goals during the strategic implementation phase.

What is the purpose of an internal analysis?

Which grand strategy focuses on being innovative, seeking out new opportunities, and taking risks?

Small companies, just like large corporations, should spend a considerable amount of time examining the __________ environment which includes the economic, political-legal, technological, and socio-cultural forces which may represent either a threat or opportunity.

Issues such as tax policy, embargoes, and minimum-wage legislation are all issues concerned with the political-legal environment.

Suppliers to Wal-mart have lots of bargaining power.

__________ provide a method for evaluating alternative strategies according to the criteria that the organization's managers must consider most important.