Exam 9: Managing Strategy

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When an organization continues serving the same clients by offering the same product or service, maintaining market share, and sustaining the organization's current business operations, it is following a ________ strategy.

(Multiple Choice)
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________ is the ability to anticipate, envision, maintain flexibility, think strategically, and work with others in the organization to initiate changes that will create a viable and valuable future for the organization.

(Multiple Choice)
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When a company combines with firms in different and dissimilar industries, it indulges in ________.

(Multiple Choice)
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Basic scientific research requires the least resource commitment because there are no production costs involved.

(True/False)
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Managers using the strategic management process always achieve positive outcomes.

(True/False)
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Explain the term "first mover" and then list the advantages and disadvantages of being a first mover in the market.

(Essay)
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Newmark RV is performing an internal analysis. Which of the following would be considered a resource?

(Multiple Choice)
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Strategic management helps coordinate the efforts of all department and functional areas of an organization.

(True/False)
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If Burger King were to buy out Mom and Pop's Burgers, Burger King would be growing by vertical integration.

(True/False)
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What are the three main types of corporate strategies?

(Multiple Choice)
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The combined external and internal analyses are called ________.

(Multiple Choice)
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In ________ integration, the organization becomes its own supplier so it can control its inputs.

(Multiple Choice)
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Managers perform an external analysis so that they know about ________.

(Multiple Choice)
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In a short essay, explain strategic management and why it is important.

(Essay)
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List and discuss the three levels of strategy that a large organization must develop.

(Essay)
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When an organization is analyzing its labor supply, it is studying its ________.

(Multiple Choice)
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The BCG matrix evaluates an organization's various businesses to identify which ones offer high potential and which ones drain organizational resources.

(True/False)
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The CEO is meeting with his top managers to determine how best to compete successfully in the company's market. This group is developing the company's ________.

(Multiple Choice)
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A study of the external environment allows a manager to understand the ________ and ________ for the organization.

(Multiple Choice)
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The tobacco market in the United States has stagnated but Altria has a 50% share of it. According to the BCG Matrix, Altria is a ________.

(Multiple Choice)
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