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

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 ________.

Compare and contrast strategic and tactical planning.

Mary has just formulated the annual budget for her department. She has outlined how the funds must be allocated and spent over the next one year. This would most likely be categorized 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.

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

Jim Autry is a plant supervisor at Ogden Metals. As Jim prepares to participate in the organization's upcoming strategic management planning process for the year, he has asked for your input on understanding the Critical Question Analysis process and the value it offers him as management looks into the future of Ogden's ability to compete in its marketplace. What will you tell him the value is of this analysis?

________ strategy is generally applied to cash cows or stars that are beginning to lose market share.

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

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

What is a SWOT analysis and what benefit does conducting this analysis offer to managers?

Which of the following is true about a cash cow?

Lobbying efforts by interest groups and progress on the passage of laws are examples of the ________ component of the general environment.

The set of forces and factors that positively or negatively impact an organization's ability to compete within its marketplace are known as the management ________.

GenEx Group manufactures a variety of products for different markets. One of its SBUs, GenEx Textiles, is one of its leading revenue generators. GenEx Textiles is the leading player in the market for textiles. However, the parent company has realized that growth prospects in the textile industry is limited. The company has already exploited the market to the fullest and sustained growth in the future is unlikely. In fact, a substantial amount of the revenue generated from this textile business is used to fund other SBUs of the parent company. GenEx Textiles is an example of a ________ for the GenEx Group.

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

According to the GE Multifactor Portfolio Matrix, businesses falling in cells that form a diagonal from lower left to upper right are the strongest and the ones the company should invest in and help to grow.

Which of the following is the ability to manage people during implementation?

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

A broad and general plan developed to reach long-term organizational objectives is a(n) ________.

In general, the strategic management process is thought to consist of sequential and continuing steps.