Question 1

In a TOWS Matrix, ST Strategies

Accepted Answer

A)  are generated by thinking of ways in which a company or business unit could use its strengths to take advantage of opportunities. 
B)  attempt to take advantage of opportunities by overcoming weaknesses. 
C)  are basically defensive and primarily act to minimize weaknesses and avoid threats. 
D)  consider a company's or unit's strengths as a way to avoid threats. 
E)  are ways to get strategists to think "out of the box." 
A)  are generated by thinking of ways in which a company or business unit could use its strengths to take advantage of opportunities. 
B)  attempt to take advantage of opportunities by overcoming weaknesses. 
C)  are basically defensive and primarily act to minimize weaknesses and avoid threats. 
D)  consider a company's or unit's strengths as a way to avoid threats. 
E)  are ways to get strategists to think "out of the box."

Question 2

An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is

Accepted Answer

A)  PET. 
B)  MBO. 
C)  SWOT. 
D)  SBU. 
E)  ROI. 
A)  PET. 
B)  MBO. 
C)  SWOT. 
D)  SBU. 
E)  ROI.

Question 3

According to Barney, under which condition would tacit collusion most likely be successful?

Accepted Answer

A)  There is a large number of identifiable competitors. 
B)  Costs are not similar among firms. 
C)  One firm tends to act as the price leader. 
D)  Sales are characterized by a high frequency of large orders. 
E)  There are low barriers to entry in the industry. 
A)  There is a large number of identifiable competitors. 
B)  Costs are not similar among firms. 
C)  One firm tends to act as the price leader. 
D)  Sales are characterized by a high frequency of large orders. 
E)  There are low barriers to entry in the industry.

Question 4

The particular capabilities and resources a firm possesses and the superior way in which they are used is called

Accepted Answer

A)  differentiating capabilities. 
B)  distinctive competencies. 
C)  situational proficiency. 
D)  core competencies. 
E)  distinctive characteristics. 
A)  differentiating capabilities. 
B)  distinctive competencies. 
C)  situational proficiency. 
D)  core competencies. 
E)  distinctive characteristics.

Question 5

Disadvantages of joint ventures include all of the following EXCEPT

Accepted Answer

A)  loss of control. 
B)  lower profits. 
C)  probability of conflicts with partners. 
D)  likely transfer of technological advantage to the partner. 
E)  mutual dependence. 
A)  loss of control. 
B)  lower profits. 
C)  probability of conflicts with partners. 
D)  likely transfer of technological advantage to the partner. 
E)  mutual dependence.

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Discuss competitive strategy differences between a fragmented and a consolidated industry.

Accepted Answer

In a fragmented industry, there are many

Question 9

Niches can grow and change over time.

Accepted Answer

A) True 
 B)False

Question 10

The only way to gain competitive advantage within an industry is to use a competitive strategy.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is NOT one of the risks of the focus strategy?

Accepted Answer

A)  The target segment's structure erodes. 
B)  The segment's differences from other segments narrow. 
C)  The advantages of a broad line increase. 
D)  Focusers exit the industry. 
E)  Demand disappears for the product in the target segment. 
A)  The target segment's structure erodes. 
B)  The segment's differences from other segments narrow. 
C)  The advantages of a broad line increase. 
D)  Focusers exit the industry. 
E)  Demand disappears for the product in the target segment.

Question 12

When P&G (the maker of Folgers and Millstone coffee)worked with Mr.Coffee, Krups, and Hamilton Beach to market Home Café, they engaged in a

Accepted Answer

A)  joint venture. 
B)  licensing arrangement. 
C)  value-chain partnership. 
D)  mutual service consortium. 
E)  competitive advantage. 
A)  joint venture. 
B)  licensing arrangement. 
C)  value-chain partnership. 
D)  mutual service consortium. 
E)  competitive advantage.

Question 13

Business strategy focuses on

Accepted Answer

A)  ensuring that the company maintains the existing market share that it has historically enjoyed. 
B)  improving the competitive position of a corporation's products or services within the industry or market segment served. 
C)  providing adequate shareholders' return on investment. 
D)  preventing the competition from gaining a competitive edge by undermining their marketing plan. 
E)  recovering the competitive lead by using all available resources that the company can provide. 
A)  ensuring that the company maintains the existing market share that it has historically enjoyed. 
B)  improving the competitive position of a corporation's products or services within the industry or market segment served. 
C)  providing adequate shareholders' return on investment. 
D)  preventing the competition from gaining a competitive edge by undermining their marketing plan. 
E)  recovering the competitive lead by using all available resources that the company can provide.

Question 14

Explain the four combination strategies that may be generated from the TOWS Matrix.

Accepted Answer

The TOWS Matrix results in four combinat

Question 15

Product engineering, creative flair, and strong cooperation from channels are commonly required skills and resources for which of Porter's generic strategies?

Accepted Answer

A)  cost leadership 
B)  differentiation 
C)  cost leadership focus 
D)  differentiation focus 
E)  collusion 
A)  cost leadership 
B)  differentiation 
C)  cost leadership focus 
D)  differentiation focus 
E)  collusion

Question 16

The focus strategies will likely predominate when many small and medium sized local companies compete for relatively small shares of the total market in a(n)

Accepted Answer

A)  united industry. 
B)  fragmented industry. 
C)  consolidated industry. 
D)  isolated industry. 
E)  integrated industry. 
A)  united industry. 
B)  fragmented industry. 
C)  consolidated industry. 
D)  isolated industry. 
E)  integrated industry.

Question 17

What is the impact of hypercompetition on competitive advantage?

Accepted Answer

Hypercompetition reflects the increasing

Question 18

An example of a company that was "stuck in the middle" is K-Mart as they tried to imitate both Walmart's low-cost strategy and Target's differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 19

The text authors note that the essence of strategy is

Accepted Answer

A)  opportunity divided by strengths minus weaknesses. 
B)  strength divided by opportunity. 
C)  threat divided by capacity. 
D)  threat divided by opportunity. 
E)  opportunity divided by threat. 
A)  opportunity divided by strengths minus weaknesses. 
B)  strength divided by opportunity. 
C)  threat divided by capacity. 
D)  threat divided by opportunity. 
E)  opportunity divided by threat.

Question 20

One company that has successfully found a propitious niche is

Accepted Answer

A)  Coca-Cola. 
B)  PepsiCo. 
C)  Frank J. Zamboni & Company. 
D)  Walmart. 
E)  Disney. 
A)  Coca-Cola. 
B)  PepsiCo. 
C)  Frank J. Zamboni & Company. 
D)  Walmart. 
E)  Disney.

In a TOWS Matrix, ST Strategies

An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is

According to Barney, under which condition would tacit collusion most likely be successful?

The particular capabilities and resources a firm possesses and the superior way in which they are used is called

Disadvantages of joint ventures include all of the following EXCEPT

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

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

Discuss competitive strategy differences between a fragmented and a consolidated industry.

Niches can grow and change over time.

The only way to gain competitive advantage within an industry is to use a competitive strategy.

Which of the following is NOT one of the risks of the focus strategy?

When P&G (the maker of Folgers and Millstone coffee)worked with Mr.Coffee, Krups, and Hamilton Beach to market Home Café, they engaged in a

Business strategy focuses on

Explain the four combination strategies that may be generated from the TOWS Matrix.

Product engineering, creative flair, and strong cooperation from channels are commonly required skills and resources for which of Porter's generic strategies?

The focus strategies will likely predominate when many small and medium sized local companies compete for relatively small shares of the total market in a(n)

What is the impact of hypercompetition on competitive advantage?

An example of a company that was "stuck in the middle" is K-Mart as they tried to imitate both Walmart's low-cost strategy and Target's differentiation strategy.

The text authors note that the essence of strategy is

One company that has successfully found a propitious niche is

Basic Concepts in Strategic Management

Corporate Governance

Ethics and Social Responsibility in Strategic Management

Environmental Scanning and Industry Analysis

Internal Scanning and Organizational Analysis

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters

Exam 6: Strategy Formulation: Situation Analysis and Business Strategy

In a TOWS Matrix, ST Strategies

An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is

According to Barney, under which condition would tacit collusion most likely be successful?

The particular capabilities and resources a firm possesses and the superior way in which they are used is called

Disadvantages of joint ventures include all of the following EXCEPT

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

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

Discuss competitive strategy differences between a fragmented and a consolidated industry.

Niches can grow and change over time.

The only way to gain competitive advantage within an industry is to use a competitive strategy.

Which of the following is NOT one of the risks of the focus strategy?

When P&G (the maker of Folgers and Millstone coffee)worked with Mr.Coffee, Krups, and Hamilton Beach to market Home Café, they engaged in a

Business strategy focuses on

Explain the four combination strategies that may be generated from the TOWS Matrix.

Product engineering, creative flair, and strong cooperation from channels are commonly required skills and resources for which of Porter's generic strategies?

The focus strategies will likely predominate when many small and medium sized local companies compete for relatively small shares of the total market in a(n)

What is the impact of hypercompetition on competitive advantage?

An example of a company that was "stuck in the middle" is K-Mart as they tried to imitate both Walmart's low-cost strategy and Target's differentiation strategy.

The text authors note that the essence of strategy is

One company that has successfully found a propitious niche is

Basic Concepts in Strategic Management

Corporate Governance

Ethics and Social Responsibility in Strategic Management

Environmental Scanning and Industry Analysis

Internal Scanning and Organizational Analysis

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters