Exam 7: Strategic Planning: Strategies, Tactics, and Competitive Dynamics

Pasta Central, a fast-food chain, has realized that if it wants to beat its leading competitor and improve market share, it must improve its productivity. Which of the following strategies is most likely to help Pasta Central to achieve this objective?

The answer to which of the following critical questions indicates whether the organization is progressing satisfactorily or not?

The last step in the strategic management process is ________.

Strategic management is the process of ensuring an organization possesses and benefits from the use of an appropriate organizational strategy.

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

________, the fourth step of the strategic management process, is putting formulated strategies into action.

In strategic planning, managers consider the organization as a total unit and ask themselves what must be done in the long term, which is usually ________.

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

The last step of the strategic management process, consisting of monitoring and evaluating the strategic management process as a whole, is ________.

Bristol Jones is the owner of a women's shoe store in Wainscot, PA. Her store has been extremely successful selling high-end shoes to the adult market in Wainscot. Management is looking to grow revenues and is considering offering men's shoes as well. What is your advice to Ms. Jones that she consider before taking on this new product line?

Managers only perform environmental analysis to help them understand what is happening outside their organization.

________ is the process of ensuring that an organization possesses and benefits from the use of an appropriate organizational strategy.

Briefly differentiate Michael Porter's three generic strategies.

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

A summer storm just passed through the town of Chester Oaks and caused much roofing and siding damage to homes. This storm offers a/an ________ to roofing and siding contractors.

Which of the following is true about strategy?

The first step of strategic management is designed to ________.

The Razzmatazz Group of companies plans to launch a new flavor of crackers that is distinct and unusual. Which of the following strategies is the company following to become more competitive?

Which level of the organization's environment exists inside the organization and normally has immediate and specific implications for managing the organization?

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