Exam 6: Strategy Formulation: Business Strategy

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.

Rollups are not synonymous with traditional mergers and acquisitions.

Most entrepreneurial ventures follow

What are Porter's three generic competitive strategies?

Collusion is the active cooperation of firms within an industry to reduce output and raise prices in order to get around the normal economic law of supply and demand.

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

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?

One danger of D'Aveni's concept of hypercompetition is that it may lead to an overemphasis on short-term tactics over long-term strategy.

Intense supervision of labor,sustained capital investment and access to capital are commonly required skills and resources for which of Porter's generic competitive strategies?

The book Hypercompetition was written by

As an industry matures while overcoming fragmentation and becomes dominated by a small number of large companies,it tends to become a(n)

Which of the following is not considered a strategic alliance success factor?

In licensing arrangements,which of the following is not true?

One company that has successfully found a propitious niche (extremely favorable niche)is Frank J.Zamboni & Company,the manufacturer of the machines that smooth the ice at ice skating rinks.

The two general types of cooperative strategies are

SWOT is an acronym that stands for Strategy,Weaknesses,Opportunities,and Threats.

The T in SWOT represents

Too much partnering experience with the same strategic partners generates diminishing returns over time and leads to reduced performance.

The strategic rollup was developed in the mid-1990s as an efficient way to quickly consolidate a fragmented industry with the resulting large firm creating economies of scale.

According to Porter,the generic competitive strategy that reflects the ability of the corporation or its business unit to design,produce,and market a comparable product more efficiently than its competitors is called