Exam 8: Strategy Formulation: Functional Strategy and Strategic Choice

Some executives show a self-serving tendency to attribute the firm's problems not to their own poor decisions,but to environmental events out of their control such as government policies or a poor economic climate.

If a company wishes to be a technological leader and also maintain a cost advantage,the appropriate R&D strategy would be to

The technique used to help strategic managers choose among alternative choices by defining the task environment,developing a set of various forecasts,and using pro forma financial statements is called

When Intel opened four small-scale research facilities adjacent to universities to promote the cross-pollination of ideas,they were using which approach to R&D?

Avon is an example of a company that demonstrated having a diverse workforce

Another approach to evaluating alternatives under conditions of high environmental uncertainty is to use the

The key to outsourcing is to purchase from outside only those activities that are not key to the company's distinctive competencies.

The most commonly used political strategies include which of the following?

A flexible manufacturing system is

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

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

Two suppliers are the sole suppliers of two different parts,but they are also backup suppliers for each other's parts in parallel sourcing.

There is mounting evidence that when an organization is facing a dynamic environment,the best strategic decisions are arrived at through consensus when everyone agrees on one alternative.

A financial strategy examines the financial implications of corporate and business-level strategic options and identifies the best financial course of action.

What is a functional strategy?

What is outsourcing? What are the seven major outsourcing errors that should be avoided?

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.

The purchasing strategy in which two suppliers are the sole suppliers of different parts,but are also the backup suppliers for each other's parts is

A company,such as Church & Dwight,follows the market development strategy of developing new uses and/or markets for current products such as for its successful product: Arm & Hammer brand baking soda.

A company that imitates the products of competitors is referred to as a