Exam 6: Strategy Formulation: Business Strategy

If a mission does not provide a common thread for a corporation's businesses,managers might be unclear about where the company is heading.

The kind of strategic alliance in which a company forms a strong and close long-term relationship for mutual advantage with a key supplier or distributor is the

In tacit collusion,there is no direct communication among competing firms.

A licensing arrangement is an agreement in which the licensing firm grants rights to another firm in another country or market to produce and/or sell a product.

An example of a company following a cost focus strategy is Potlach Corporation,which makes house brands of toilet paper for Safeway and other grocery store chains.

What are cooperative strategies?

When Facebook partnered with nine news organizations to allow the news organizations (including powerhouses like the New York Times and NBC News) to post stories on the Facebook site,they engaged in

The first firm through a strategic window can occupy an extremely favorable niche and discourage competition (if the firm has the required internal strengths).

The "cell" chip created by IBM,Sony Electronics,and Toshiba was a result of pooling their resources in a

According to Porter,the term that applies to the breadth of a company's or business unit's target market is called

SO strategies attempt to take advantage of opportunities by overcoming weaknesses.

Jet airplane manufacturers often enter into strategic alliances to

Which strategy raises the questions of whether to compete on the basis of lower cost or differentiation and whether to compete for the biggest market or a niche market?

A cost leader's lower costs allow it to continue to earn profits during times of heavy competition.

Strategy formulation or strategic planning begins with a(n) ________,which is the process of finding a strategic fit between external opportunities and internal strengths while working around external threats and internal weaknesses.

When a company following a differentiation strategy ensures that the higher price it charges for its higher quality is not priced too far above the price of the competition,the company is using the process of

Strict targets to improve efficiency are likely to be found in organizations following which of Porter's generic competitive strategies?

The kind of strategic alliance in which there is a partnership of similar companies in similar industries who pool their resources to gain a benefit that is too expensive to develop alone is the

According to the text,unique market opportunities that are available for only a particular time are called

Which of Porter's competitive strategies recommends that a company emphasize a particular buyer group or geographic market and attempts to seek a cost advantage in its targeted segment?