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

Axis Cars is an automobile company based out of Delaware. They need to follow an organizational strategy to regain the market share they recently lost to Toyota. Which of the following strategies will accomplish this objective?

Compare and contrast strategic and tactical planning.

The document that is written by management and describes the purpose for which the organization exists is the ________.

Which of the following statements accurately reflects the relationship between the mission and the objectives?

What is competitive dynamics? Briefly describe the factors that influence a firm's action or reaction?

When an organization focuses on making itself more competitive by producing products more cheaply than competitors can, it is following a ________ strategy.

Dun's Burgers has decided to open takeaway counters across the city that will be open until 11 p.m. to cater to people who return late from work. This turns out to be an excellent strategy as Dun's becomes a hot favorite with the people who work late shifts. This is an example of ________ strategy.

The relative degrees of worth that society places on the way in which it exists and functions are ________.

________ refers to the incentives that an organization has to take action.

The commitment principle is a management guideline that advises managers to totally commit themselves to strategic planning.

An SBU with a small market share of a high-growth market is a ________.

Which of the following sentences about the differences between strategic planning and tactical planning is true?

________ is a strategy adopted to eliminate an SBU that is not generating a satisfactory amount of business and that has little hope of doing so in the near future.

________ is short-range planning that emphasizes the current operations of various parts of the organization.

Which of the following is true about The GE Multifactor Portfolio Matrix?

Kreme Industries has an SBU Kreme Makeups, Inc., that offers a wide variety of makeup products and accessories for women. Although market growth rate is high, the SBU's current market share is low and it needs substantial investment. The parent company is trying to decide if Kreme Makeups has long-term sustainability before investing any more cash in it. In the context of the BCG matrix, this SBU of Kreme Industries would be classified as a ________.

Chelsea Inc., is a sportswear company that is planning to introduce a line of jerseys. The company has been the top-selling company in Europe for a decade and has a large market base in the US. With this new line of jerseys, the company hopes to expand its sales in Asia where it already has a base. -Which of the following, if true, would support the argument that Chelsea is following a cost leadership strategy?

One of the SBUs under the Retro Group of companies is not generating a satisfactory amount of business. Extensive analysis shows that the company is losing its market share because its competitors have more sustainable processes. Analysts also feel that the growth prospects in this industry are extremely limited. Which of the following organizational strategies should the company adopt?

An SBU with a large market share of a low-growth market is a ________.

________ is the ability to provide the organizational resources necessary to implement a strategy.