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Strategic Management

Showing 1-75 of 139 answers

Target Market Correct

________________ is used when a company faces significant cost

Transnational Strategy Correct

_____________________is where you buy the land, build the

Greenfield Investment Correct

________________is used when a company is primarily focused on its

Export Strategy Correct

_____________customizes products or processes to the

Multi-domestic Strategy Correct

____________is used when a company treats the whole

Standardization strategy Correct

A policy is what is, or what is not done. While a strategy is themethodology used to achieve a target as prescribed by a policy.

TRUE Correct

A statement, that provides a perspective of the means, which will lead theorganization, reach the vision in the long run.

Strategic Intent Correct

A vision statement answers the question.

What do we want to become? Correct

According to , strategy is organisation‘s pattern of response to its environment over a period of time to achieve its goals and mission.”

Igor Ansoff Correct

According toMarkides (1999), a strategic position represents a company’s answers to three

How thecompany can do this at the lowest cost Correct

Accordingto Porter (1996) in his article “What is strategy?”, strategy is about being

Different Correct

An organization’s external environment consistsof the general or macro environment and:

Thecompetitive environment Correct

Anything that a firm does especially well compared to rival firms is referred to as?

Competitive advantage Correct

Because of their low market share these businesses are often expected to

Dogs Correct

Both an Art and science of formulating, implementing, and evaluating,cross-functional decisions that facilitate an organization to accomplish itsobjectives.

Strategic management Correct

Comes from the Greek word "strategos", which refers to a military general.

Strategy Correct

Competitive strategy is also known as:

Competitive positioning Correct

Creating competitive advantage through effective management of the strategy-making process.

Strategic Leadership Correct

deals with acquisition of resources with which organizational goalscan be achieved.

Business Policy Correct

Decisions regarding which industries tocompete in are the concern of:

Industry strategy Correct

Demographic and psychographic factors are the primary indicators considered

TRUE Correct

Drucker refersto an organization’s assumption about its environment and its strength and

Theory of business Correct

Employees without are worthless resources to the organization.

Skills Correct

Enumerate the Porter's Five Forces.

Competition in the Industry, Potential of New Entrants into an Industry, Power of Suppliers, Power of Customers, Threat of Substitutes Correct

Feedback plays a very important role in the evaluation stage, providing the strategists

TRUE Correct

Goals are the end results that the organization attempts to achieve.

TRUE Correct

Have a potential to be stars if successfully developed.

Question Mark Correct

He defines strategy as a creation of a uniqueand valued position involving a different activity from rivals or performssimilar activities in different ways.

Micheal Porter Correct

If you have a particularly interesting and unique product or service

Piggybacking Correct

Igor Chandler is the Father of Strategic Management.

FALSE Correct

Implementing strategy means mobilizing employees and managers to put formulated

TRUE Correct

In the Directional Policy Matrix, the horizontal axis is defined as.

Competitive Strength Correct

In the Directional Policy Matrix, the vertical axis is defined as.

Market Attractiveness Correct

is as significant as because it throwslight on the efficiency and effectiveness of the comprehensive plans in achievingthe desired results.

Strategy Evaluation Correct

It allows fewer resources and less time to be devoted to correcting erroneous or ad hoc decisions.

It allows fewer resources and less time to be devoted to correcting erroneous or ad hoc decisions. Correct

It allows fewer resources and less time to be devoted to ing erroneous or ad hoc decisions

It allows fewer resources and less time to be devoted to ing erroneous or ad hoc decisions Correct

It can be defined as a group of techniques that

Corporate portfolio analysis Correct

It describe what an organization excels at and

Strengths Correct

It focuses on providing a product or service that is

Differentiation Strategy Correct

It has vital role in businesses by indicating current and

Environmental Analysis Correct

It implies the process of critically examining the factors

Scanning Correct

It is a method or plan chosen to bring about a desired future, such as achievement of a goal or a solution to a problem.

Strategy Correct

It is a model that identifies and analyzes five competitive

Porter's Five Forces Correct

It is a relatively sophisticated arrangement where a firm transfers

Licensing Correct

It is a strategy which focuses on reducing the costs involved

Cost Leadership Correct

It is a tool that can be used to determine what priorities

BGC Matrix Correct

It is an economic term describing the existence of high

Barriers to Entry Correct

It is an involved, intricate, and complex process that takes an organization into uncharted territory.

Strategic Planning Correct

It is an objective that seeks to attain in reality.

Operative objective Correct

It is described as the "Long-term Market or Competitive Position"

Sense of direction Correct

It is designed to help potential shareholders and investors understandthe purpose of the company.

Mission Statement Correct

It is the 1+1=3

Joint Ventures Correct

It is the areas in the business that needs to improve to remain

Weaknesses Correct

It is the degree to which the company is able to use the same

Global Integration Correct

It is the dream of the business and an inspiration, base for theplanning process.

Vision Correct

SWOT analysis Correct

It is the framework used to evaluate a company's competitive position and todevelop strategic planning.

SWOT analysis Correct

It is the methodical evaluation of the key

Internal Analysis Correct

It is time-based measurable actions, which help in theaccomplishment of goals.

Objectives Correct

It means the ratio of the business’s market

Relative competitive position Correct

It must be visible to everyone, and clearly identifyhow the departments, divisions, units and sections are organized, with the linesof authority and accountability clearly established.

Structure Correct

It refers to factors that have the potential to harm an

Threats Correct

It refers to favorable external factors that could give

Opportunities Correct

It refers to selling directly into the market you have chosen using

Direct Exporting Correct

It refers to the actions that managers have to take or do in order to

Strategy Correct

It refers to the projected rate of sales growth for the

Market growth rate Correct

It represents what the organization must achieve in order for it to

Strategic Objectives Correct

It seeks to explain the business undertaken by the firm, with respect tothe customer needs, target audience, and alternative technologies.

Business Definition Correct

It states that Strategic Intent is differentiated because here in this case the employees are allied and they are convinced about the concept of Strategic Intent.

Sense of discovery Correct

It states that, there should be a clear indication and guide on how the main activities oroperations of the business are carried out.

Systems Correct

Itis generally agreed that the role of strategy is to:

Achieve competitive advantage Correct

Johnson and Scholes three ways in strategies selection.

Selection against objectives, Referral to a higher authority, Partial Implementation Correct

Kay (1993)sees the strategy of an organization as matching capabilities with:

Theindustry life cycle Correct

Need very little capital expenditure but return high levels of cash income. Can be used to finance the stars.

Cash cow Correct