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

Operating objectives such as profits, cost efficiency, market share, product quality, a talented workforce, innovation, and social responsibility are often under scrutiny when, executives meet to discuss how well an organization is doing.

__________ strategies guide the activities of specific areas in implementing the organizational-level strategies.

A special strength that gives an organization a competitive advantage is called a core competency.

The advantage of growth through concentration is that you are growing in an area that you know and, presumably, have expertise.

Strategic __________ is the process of putting strategies into action.

The levels of strategy used in organizations are corporate, business, and __________.*

When a company closes and sells its assets in order to pay its debts, it is called __________.

Which of the following is NOT a part of a SWOT analysis?*

Two companies join together in partnership to pursue an area of mutual interest. This is called a(n) __________.

Expansion into areas of new business is called __________.

Strategic leadership inspires people to implement organizational strategies.

A __________ strategy uses information technology and the internet to link organizations vertically in supply chains.*

If your strategy is to compete on price against your competitors, your strategy is one of focused differentiation.

Discuss the classifications in the Boston Consulting Group's matrix as they relate to industry growth, market share, and business strategy.

When a company expands in its existing markets, it is called growth through __________.

The process of formulating and implementing strategies to accomplish long term goals and to maintain a competitive advantage is called __________.*

A SWOT analysis includes a detailed examination of an organization's strengths and weaknesses.

An example of a question asked at the business strategy level is:

The SWOT element that focuses on outdated facilities and obsolete technologies is called __________.

Which of the following is NOT a retrenchment strategy?*