Exam 8: Strategy Formulation and Execution

A multidomestic strategy helps an organization reap efficiencies by standardizing product design and manufacturing,using common suppliers,and eliminating overlapping facilities.

The question How do we compete? concerns ____________________ strategy.

FLY Industries is a global conglomerate company headquartered in the United States that does business in over fifty countries.The company seeks to balance global efficiencies and local responsiveness by hiring locally as well as from home.It can best be described as using which global corporate strategy?

The ability to influence people to adopt the new behaviors needed for strategy implementation is called ____________________.

A business activity that an organization does particularly well relative to its competition is known as a(n)____________________.

____ refers to the modification of product design and advertising strategies to suit the specific needs of individual countries.

After Sunshine Systems merged with RTD Enterprises,company executives noticed that due to increased employee collaboration between the two units,costs were down and revenues increased within both areas.This is an example of what business phenomenon?

Some people argue that ____ is the most difficult and most important part of strategic management.

Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.

A transnational strategy seeks to achieve both global integration and national responsiveness.

The Internet tends to lower the bargaining power of suppliers.

Research has shown that strategic thinking and planning positively affect a firm's performance and financial success.

When an organization chooses a(n)____________________ strategy,it means that business decisions such as product design are made on a country-by-country basis.

A firms' leadership is responsible for recruiting,selecting,training,transferring,promoting,and laying off employees.

The transnational strategy handles markets independently for each country.

A differentiation strategy can increase rivalry with competitors if buyers are loyal to a company's brand.

The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone is known as

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

The question What business are we in? concerns ____________________ strategy.

Strategic partnerships are the current trend,rather than mergers and acquisitions.