Exam 7: Strategy and Strategic Management: Insight and Hard Work Deliver Results

Critical thinking is a "must have" for success in strategic management.

A strategic leader has to:*

The international business strategy that adopts standard products and advertising to use worldwide is called a(n) __________ strategy.

What is the best strategy for products that the Boston Consulting Group would identify as dogs?*

Just about any kind of partnership between two companies could be called a strategic alliance.

What are the three levels of strategy in large companies? Define each of them as to their relationship to organizational structure, their purpose and their strategic questions.

An example of a strategic question at the corporate level is:*

Porter's Model of Industry Attractiveness includes four forces.

__________ is the capability to inspire people to successfully engage in a process of continuous change, performance enhancement, and implementation of the firm's goals.

A strategic position within an industry relying upon low cost for a market segment would be called a:

The __________ statement defines the purpose of the organization and its reason for existence in society.

__________ is strategic use of the Internet to engage customers and potential customers in providing opinions and suggestions on products and their designs.

A retrenchment strategy could be a "going out of business" strategy.

Companies that use the internet to market their products and gain competitive advantage are employing a(n) __________ strategy.*

__________ is a phrase or statement that focuses organizational energies on achieving a specific goal.

A company legally works with its rivals on projects of mutual benefit. This is called __________.

The retrenchment strategy that calls for selling off part of the organization is called __________.

A special strength, which a company has, that gives it a competitive advantage is called a(n) __________.

Operating in successful ways that are difficult to imitate is called a __________.

A strategy whose objective is to correct major problems in the business through radical changes to current operations is called a _________ strategy.