Exam 9: Managing Strategy

Activities that an organization does well or resources that it has available are called capabilities.

When one gas station lowers its price a penny, the station on the other corner of the intersection lowers its price, followed by the gas stations on the next block, and so on, until nearly every gas station in town has lowered its prices. This situation illustrates ________.

The top managers of the corporation are meeting to discuss how they will compete in their chosen markets and how they will attract and satisfy customers. These managers are discussing ________.

Corporate strategies determine what business a company is in or wants to be in, and what it wants to do with those businesses.

A company that competes by offering unique products that are widely valued by customers is following a differentiation strategy.

Kiva Systems, manufacturer of robots used in flexible automation systems, demonstrates the power of ________ by "teaching" its robots to dispose of used cardboard and to assist in gift wrapping for e-commerce warehouse fulfillment.

Every fast food hamburger restaurant chain wants you to believe their product is the best because it is stored or prepared uniquely. Each of these is pursuing a ________.

Discuss how social media can create a competitive advantage.

When Stratasys began making 3D printers in 1988, the future of this new invention was unknown but expected to grow. Stratasys was one of a handful of producers of these printers. According to the BCG matrix, Stratasys was a ________.

The CEO and his top managers have asked themselves two important questions: a. do customers value what the company is providing; and b. can the company make money doing that? This group is developing a ________.

Hendricks Ceramics sells items it buys from ceramic factories. If it were to purchase one of these factories, it would be engaging in ________ integration.

List and discuss the different types of corporate strategies.

________ should be sold off or liquidated as they have low market share and low growth potential.

Heavy investment in ________ will help take advantage of the market's growth and help maintain high market share.

When a totally new product, such as laser discs years ago, is introduced, it would be considered a ________ according to the BCG matrix.

A stability strategy is an organizational strategy in which an organization maintains the status quo.

Discuss the concept of competitive advantage and explain how quality is a competitive advantage.

In ________ integration, the organization gains control of its outputs by becoming its own distributor.

Who targets a narrow market segment with customized products?

An organization that grows using ________ focuses on its primary line of business and increases the number of products offered or markets served in this primary business.