Exam 9: Strategic Planning: Strategies, Tactics, and Competitive Dynamics

What skills are required for the successful implementation of strategy?

A management guideline that advises managers to commit funds for planning only if in the foreseeable future they can anticipate a return on planning expenses as a result of the long-range planning analysis is termed ________.

Which of the following strategy formulation tools outlines the primary forces that determine competitiveness within an industry and illustrates how those forces are related?

"In what kind of environment does the organization now exist?" is one of the four basic questions required for critical question analysis.

________ is the ability to create throughout the organization a network of people who can help solve implementation problems as they occur.

Long-range planning that focuses on the organization as a whole is ________.

In a retrenchment strategy, managers attempt to ________.

Tactical planning is long-range planning that emphasizes the current operations of various parts of the organization.

The Forrester Group of companies has many products, including a fertilizer manufacturing unit. While this unit has never been a source of high revenues in the past, the SBU has increasingly become an area of concern. For the last few years, this SBU has not generated enough business for the Forrester Group and the parent company does not see things changing in the future without substantial investment. In a market with low growth potential, its already low market share has declined further. Which of the following strategies is the Forrester Group likely to choose for this SBU?

Which of the following strategy formulation tools was specifically developed to expand on the BCG Growth-Share Matrix?

The ________ component is that part of the general environment that indicates how resources are being distributed and used within the environment.

SWOT is an acronym for a firm's strengths, weaknesses, objectives, and threats.

Strategic implementation is the last step of the strategic management process.

The first step in the strategic management process is the establishment of organizational direction.

The level of an organization's external environment that contains components normally having relatively specific and immediate implications for managing the organization is the ________ environment.

________ is a strategy adopted by management to maintain or slightly improve the amount of business that an SBU is generating.

What are the main strategy formulation tools of strategic management?

Briefly discuss the strategic management process.

A firm's ability to undertake an action is referred to as ________.

________ is usually applied to SBUs that are dogs or question marks that have failed to increase market share but still require significant amounts of cash.