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

The introduction of new cellular and other electronic technology often results in increased demand for the new products during the holiday season. Which environmental force is impacted the most in this situation?

The level of an organization's external environment that contains components having broad long-term implications for managing the organization is the ________.

Which strategy is an organization following when it focuses on making an organization more competitive by developing a product or products that customers perceive as being different from products offered by competitors?

With the GE Multifactor Portfolio Matrix, the businesses falling in the cells that form a diagonal from lower left to upper right are ________.

What are the main strategy formulation tools of strategic management?

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 known as the ________.

Because strategic planning focuses on the long term and tactical planning on the short term, strategic plans cover a relatively long period of time whereas tactical plans cover a relatively short period of time.

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

________ is a strategy that emphasizes making an organization more competitive by targeting a particular customer.

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?