Exam 8: Strategy Formulation: Functional Strategy and Strategic Choice

The top factors in a successful ________ seemed to be a spirit of partnership,a well-designed agreement,joint governance,and consistent communication.

A product development strategy deals with pricing,selling,and distributing a product.

Purchasing a product or service from an outside contractor that had been previously provided internally is called

When a company determines how and where a product or service is to be manufactured,the level of vertical integration in the production process,the deployment of physical resources,and relationships with suppliers,the company is developing its ________ strategy.

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 concept of ________ was taken one step further in JIT II,in which vendor sales representatives usually have desks next to the purchasing company's factory floor,attend production status meetings,visit the R&D lab,and analyze the purchasing company's sales forecasts.

A company that keeps up by imitating a leading company's strategy while ignoring its own strengths and weaknesses is an example of which strategy to avoid?

A company that pioneers an innovation is called a

A company may use which of the following trade promotions to "pull" their products through the distribution system?

"The customer is always right" is an example of a policy in Nordstrom's.

What does a financial strategy examine?

Research indicates that the use of work teams leads to decreased quality and productivity as well as lower employee satisfaction and commitment as a result of less accountability.