Exam 10: Strategy and Strategic Management

Organizations pursuing a cost leadership strategy seek a competitive advantage by directing the organization's resources and attention toward minimizing costs to operate more efficiently than the competition.

The financial statement of Labyrinth Inc., a heavy-metal industry, for the year 2013, showed a loss in revenue. The main cause was the entry of new competitors in the market, with advanced skill and expertise. The company decided to conduct an internal assessment of the organization through a SWOT analysis. What was the possible deduction arrived at by the company through its internal analysis?

Enigma Breweries, a distillery company, bought Suave Clothing, a premium men's fashion boutique chain. By entering a different business area, Enigma Breweries plans to grow and expand its business and profits. Which type of growth strategy has Enigma Breweries adopted?

The preferred strategy for Stars is growth because they

Organizations pursuing a focused differentiation strategy seek a competitive advantage by concentrating on one special market segment and trying to be the lowest cost provider in that segment.

Which of the following is true about oligopoly?

Why is corporate governance essential in an organization?

A(n) ___ tries to customize products and their advertising as much as possible to fit the local needs of different countries or regions.

The strategy of working with rivals on projects of mutual benefit is referred to as ___.

Businesses pursuing a ___ seek a competitive advantage by directing the organization's resources and attention toward minimizing costs to operate more efficiently than the competition.

The preferred strategy for Dogs is retrenchment because

Healthy Home Inc. is a newly established organization which manufactures home appliances. The company is in the process of selecting the locations for its production facilities and an appropriate manufacturing technology. This information indicates that the company is developing its ___ strategy.

Functional strategy addresses the question: "How are we going to compete for customers within this industry and market?"

Corporate strategy focuses on the strategic question: "In what industries and markets should we compete?"

Businesses pursuing a ___ seek a competitive advantage by directing the organization's resources and attention toward distinguishing its products from those of the competition.

A globalization strategy reflects a(n) ___ that assumes everyone everywhere wants the same thing that one has developed and sold successfully at home.

Which of the following statements accurately describe the benefits associated with strong core values?

The transnational strategy focuses on working with rivals on projects of mutual benefit.

In conducting a SWOT analysis, a company's opportunities should be assessed in terms of new competitors, possible resource shortages, changing market tastes, substitute products, and new regulations.

Strategy analysis is ___.