Exam 8: Strategy Formulation and Execution

List the four components of a SWOT analysis.

Winning strategies need to be executed. Once a strategy is understood and accepted in the organization (embedded), managers can use some primary tools to ensure that the strategy is implemented effectively. In a short essay, explain the primary tools that managers use to implement strategy effectively: visible leadership, clear roles and accountability, candid communication, and appropriate HR practices. Develop a persuasive argument for or against the importance of soliciting employee cooperation in order for an organizational strategy to be successfully executed.

The plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization's goals is known as a(n):

Many strategy experts agree that formulation is the most important, yet the most difficult, part of strategic management.

The BCG matrix organizes businesses along which of the following dimensions?

__________ means there is a deep understanding and acceptance of organizational direction and purpose throughout the organization.

Core competence is the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization's goals.

According to the BCG matrix, the cash cow has a large market share in a rapidly growing industry.

Compare and contrast the three levels of strategy in an organization.

The question mark exists in a new, rapidly growing industry, but has only a small market share, according to the BCG matrix.

Research has shown that strategic thinking and planning positively affect a firm's performance and financial success.

__________ refers to the set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

The purpose of __________ is to expand the firm's business operations to produce new kinds of valuable products and services.

A globalization strategy handles markets independently for each country.

Which of the following strategies would be appropriate when the need for both national responsiveness and global integration is high?

With a(n) __________, product design and advertising are standardized throughout the world.

__________ is the use of managerial and organizational tools to direct resources toward accomplishing strategic results.

When AT&T decided to buy MediaOne, a cable company, it was pursuing a(n) __________ strategy.

__________ pertains to each business unit or product line.

__________ can be defined as the combination of benefits received and costs paid by the customer.