5 Written Questions

1. the ability of resource suppliers to influence the price that one has to pay for their products or services
2. many competitors, low barriers to entry, many substitute products, high power of suppliers, high power of customers
3. analyzes business opportunities according to market growth rate and market share
4. examines organizational strengths and weakness and environmental opportunities and threats
5. the process of formulating and implementing strategies

5 Matching Questions

1. focused differentiation strategy
2. differentiation strategy
3. failure of process
4. 5 force analysis: industry competition
5. functional strategy

1. a reflect poor handling of the ways in which strategic management is accomplished
2. b the intensity of rivalry among firms in the industry and the ways they behave competitively toward one another
3. c guides activities within one specific area of operations
4. d offers a unique product to a special market segment
5. e offers products that are unique and different from competition

5 Multiple Choice Questions

1. process failure, this is the tendency to get so bogged down in details that the planning process becomes an end in itself, instead of a means to an end
   1. strategic management
   2. core competency
   3. strategic intent
   4. goal displacement
2. a comprehensive plan guiding resource allocation to achieve long-term organization goals
   1. focus strategy
   2. BCG Matrix
   3. strategy
   4. oligopoly
3. identifies how a division or strategic business unit will compete in its product or service domain
   1. downsizing strategy
   2. business strategy
   3. corporate strategy
   4. transnational strategy
4. the leader can't allow the organization and its member to grow slow and complacent. The leader needs to always keep the focus on getting better and being alert to conditions that require adjustments to the strategy
   1. cost leadership strategy
   2. strategic leader needs to create a sense of urgency
   3. strategic management
   4. strategic leader has to maintain strategic control
5. pursues growth by acquiring new businesses or entering business areas that are related to what one already does
   1. related diversification
   2. vertical integration
   3. diversification
   4. strategy formulation

5 True/False Questions

1. growth strategy → sets long- term direction for the total enterprise

   True        False

2. retrenchment and restructuring strategies → pursue radical changes and solve problems

   True        False

3. liquidation → where a business closes and sells its assets to pay creditors

   True        False

4. focus strategy → concentrates on serving a unique market segment better than anyone else

   True        False

5. supplier alliance → Cooperation takes the form of a supplier alliance in which preferred supplier relationships guarantee a smooth and timely flow of quality supplies among alliance partners

   True        False