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5 Written Questions

5 Matching Questions

  1. Diversification
  2. Transient firms
  3. Rare resource
  4. Strategic group
  5. Direct competition
  1. a a strategy for reducing risk by buying a variety of items (stocks or, in the case of a corporation, types of businesses), so that the failure of one stock or one business does not doom the entire portfolio.
  2. b the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions
  3. c : the firms in a strategic group whose strategies are changing from one strategic position to another
  4. d a group of companies within an industry that top managers choose to compare, evaluate, and benchmark strategic threats and opportunities.
  5. e a resource that is not controlled or possessed by many competing firms.

5 Multiple Choice Questions

  1. providing greater value for customers than competitors can.
  2. Situation Analysis
  3. a resource that allows companies to improve efficiency and effectiveness.
  4. the firms in a strategic group that follow related, but somewhat different strategies than do the core firms
  5. a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business.

5 True/False Questions

  1. Unrelated diversificationcreating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures

          

  2. Competitive Aggressivenessentrepreneurial firms must be more willing to use unconventional strategies than the firms already existing in a new market space in order to gain an advantage.

          

  3. What is so important about the vision and mission statement?related diversification

          

  4. Shadow-strategy task force: a committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage.

          

  5. Stability strategya strategy that focuses on improving the way in which the company sells the same products or services to the same customers

          

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