Exam 8: Strategy Formulation: Functional Strategy and Strategic Choice

According to the text, unanimous agreement is not the best way to determine the merits of a proposed alternative strategy.To avoid this consensus trap, which technique assigns a group or individual to identify potential pitfalls and problems with a proposed alternative strategy in a formal presentation?

The type of strategy used to influence a corporation's key stakeholders in order to increase their support of corporate activities is

In a leveraged buy-out, the acquired company, in effect, pays for its own acquisition.

The type of marketing strategy in which a company captures a larger share of an existing market for current products through market saturation or market penetration or develops new markets for current products is called

Even the most attractive strategic alternative might not be selected if it is contrary to the needs and desires of important top managers.

Using a market development strategy, a company can develop new products for existing markets or develop new products for new markets.

If a company wishes to be a technological follower and also pursue a differentiation strategy, the appropriate R&D strategy would be to

When Smith & Wesson puts its name on others' products like men's cologne, it is using which marketing strategy?

Many companies have found that outsourcing logistics

When the Kellogg Company changed to a push strategy, they spent more money on consumer advertising designed to build brand awareness so that shoppers will ask for the products.

When a company spends a large amount of money on trade promotion in order to gain or hold shelf space in retail outlets, a company is using a ________ strategy.

What is a functional strategy?

When components are standardized and each machine functions like a job shop but is positioned in the same order as the parts are processed, this setup is known as

The strategy that deals with product and process innovation and improvement is known as a ________ strategy.

Which type of pricing attempts to hasten market development and offers the pioneer the opportunity to utilize the experience curve to gain market share and dominate the industry?

Which of the following is NOT one of the major outsourcing errors that should be avoided?

Risk is composed not only of the probability that the strategy will be effective, but also of the amount of assets the corporation must allocate to that strategy and the length of time the assets will be unavailable for other uses.

The continuous improvement system was developed in China.

A study of 30 firms revealed that outsourcing can lead to a ________ percent reduction in costs.

Continuous improvement is an operations concept developed in