Exam 4: Strategic Management and Planning in a Global Environment

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

Organizational __________ refers to the system of shared beliefs and values developed within an organization.

Following the terrorist attacks of September 11, Southwest Airlines continued their schedules. Most airlines, however, cut back on the number of flights offered. The airlines, other than Southwest, followed a __________ strategy.

Threats include any area of the organization that needs improvement.

The firm's task or operating environment include forces such as competition, creditors, and customers.

Grand strategies, which can be applied at both the corporate and business levels, fall into three broad categories: stability, growth, and cost leadership.

Monitoring the progress of the firm to ensure that it is correctly implementing its strategic plans, and making any adjustments necessary to that implementation, is referred to as

A grand strategy is a comprehensive, general approach for achieving the strategic goals of an organization.

Match each term with the correct statement below. -a strategy to achieve the advantages of both differentiation and low cost.

Some issues that executives should consider in an internal analysis include

The chairperson of the board of a paper mill was interested in increasing the productivity of the plant. She felt that this was attainable if the firm began offering incentives to the workers and retooled some of the major pieces of machinery. The chairperson of the paper mill in this example is concerned with the forces in the __________ environment.

In conducting a formal strategic analysis of his family's retail appliance business, Jack engaged in three primary activities; an external environmental analysis and a/an __________ environmental analysis, and a mission assessment.

The competition between General Motors, Ford, Toyota, and DaimlerChrysler for their targeted customer bases and for scarce natural resources would exemplify which of the following environments?

Competitive advantage refers to the breadth of the market targeted by the organization.

Each year, the top managers at JohnsonKay update the broad statements of the results they would like to see their company achieve over the long term. These statements are referred to as

Feedback controls are designed to identify changes in the external environment or the internal operations of the organization that may affect its ability to fulfill its mission and meet its strategic goals.

The strategic implementation phase involves doing the things necessary to ensure that the strategy of the organization is achieved effectively and efficiently.

The organization's focus in how it intends to serve its customers and manage its operations in order to outperform its competitors is called

What is the purpose of an organizational mission statement? Should a mission statement be narrow or broad?

Match each term with the correct statement below. -a thorough evaluation of environmental opportunities and threats