NAME: ________________________

Principles of MGMT. Ch. 6 Test

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5 Written Questions

5 Matching Questions

  1. Risk Taking
  2. The best type of portfolio strategy may be WHAT?
  3. Dog
  4. WHAT are the three steps to create strategies that produce sustainable competitive advantage?
  5. Unrelated diversification
  1. a entrepreneurial firms are willing to take risks that could result in costly failures.
  2. b creating or acquiring companies in completely unrelated businesses.
  3. c a company with a small share of a slow-growing market.
  4. d related diversification
  5. e assess the need for strategic change, conduct a situational analysis, and choose strategic alternatives.

5 Multiple Choice Questions

  1. a reluctance to change strategies or competitive practices that have been successful in the past
  2. The strategy-making process is the method by which companies create strategies that produce sustainable competitive advantage
  3. a company with a large share of a slow-growing market
  4. distinctive competencies and core capabilities
  5. the process of entering new or established markets with new goods or services. (know characteristics for this)

5 True/False Questions

  1. Stara company with a small share of a slow-growing market.

          

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

          

  3. Strategic dissonancea group of companies within an industry that top managers choose to compare, evaluate, and benchmark strategic threats and opportunities.

          

  4. Resourcesa resource that is not controlled or possessed by many competing firms.

          

  5. Competitive advantagea reluctance to change strategies or competitive practices that have been successful in the past

          

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