Exam 8: Strategy Formulation and Implementation

The strengths and weaknesses of an organisation usually emanate from its internal environment,while opportunities and threats usually emanate from its external environment.

A(n)____________ refers to any capability to leverage and develop more from the organisation's existing assets in a way that will provide it with a sustained competitive advantage.

Any external characteristic of an organisation that inhibits restricts its performance is categorised as a(n):

Differentiation,cost leadership and focus are three of Porter's competitive strategies.

Leveraging and developing more from the organisation's existing assets,capabilities and core competencies in a way that will provide a sustained competitive advantage is known as a(n)__________________ (two words).

Porter's three generic strategies include cost-leadership,differentiation and focus.

An organisation's opportunities and threats typically emanate from the internal environment.

List the three global corporate strategies.

The three levels of strategy are business,corporate and global.

Porter's 'five forces' model includes: potential of new entrants,bargaining power of suppliers and buyers,substitute products,and government.

A type of corporate-level strategy that relates to the conceptualisation and management of an organisation's mix of business units or product lines is known as a ______________________________________(two words).

With a focus strategy,the organisation concentrates on a specific regional market or buyer group.

The stage of strategic management that involves use of managerial and organisational tools to direct resources towards achieving strategic outcomes is known as ___________________ (two words).

Using Exhibit 8.3 describe the stages of the strategy implementation process.Using examples,identify the types of decision do you believe would be made at each stage in the process.

Which of these typically includes a search for SWOT that affect organisational performance?

Due to a decrease in the number of independent diamond mines over the past 30 years,jewellery makers have had fewer businesses to purchase their inputs from.Such a situation would most closely be associated with the ______________________ (four words)in Porter's 'five forces' model.

The ______________ strategy can be profitable for an organisation because customers are loyal and willing to pay high prices.

According to the text,some people argue that _____________ is the most difficult and most important part of strategic management.

The question,'What business are we in?' concerns ___________________________ (two words)strategy.

The modification of product design and advertising strategies to suit the specific needs of individual countries is referred to as a: