Exam 1: Strategic Management

SunCore Consulting monitors demographic and labour market trends.It is most likely performing which of the following?

In general,a restructuring strategy is one that deals with companies that are operating at a surplus and are typically described as "money-making."

Refer to Scenario: Tentree Apparel.Tentree Apparel has formulated its organizational goals,objectives,action plans,and the mission statement.What is this the process called?

What type of strategies are concerned with the question,What business should we be in?

Porter's model of business strategy has been criticized for having categories that overlap.

Are employees always an organization's most valuable resource? Why or why not? What criteria is required for organizations to achieve competitive advantage through their human resources?

Values guide the behaviour of individuals within an organization.

Opportunities and threats are environmental conditions external to the firm that have limited benefit and are harmful to the organization.

As McDonald's sales and profits declined,the company decided to focus on a core item: coffee.What restructuring strategy was being adopted?

A vision statement would answer the questions "Who are we?" and "Why are we here?"

The senior leadership team at Walmart outlined the company's corporate strategy,which included plans for increasing its products and services.What type of strategy is Walmart adopting?

The senior leadership team at Price Warehouse have decided on the competitive position Price Warehouse wants to achieve.Price Warehouse is well positioned to compete for the largest number of customers through the lowest prices.What type of strategy is Price Warehouse adopting?

What is a tangible corporate goal that represents a point of view about the competitive positions a company hopes to build over a decade?

WestJet tries to demonstrate to the public that its customer service is better than other Canadian airlines because WestJet has have low prices and more caring and innovative services.How would you define this strategy?

What type of corporate objective usually defines the targets for the social conduct of business?

With the information from external environment and internal competence analysis,?managers can summarize the conclusions using a SWOT analysis.What is a SWOT analysis?

What is a corporate strategy? Identify the three major corporate or organization-wide strategies outlined by the authors in your textbook and discussed in class and provide examples of each.

In order to achieve success implementing change,what two concepts do HR managers need to match together?

What is the process called that formulates organizational goals,objectives,action plans,and the mission statement?

Compare and contrast the HRM practices of a company using a low-cost provider strategy with one using a differentiation strategy.