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Quiz 8 Management

Terms in this set (29)

Which strategy can be profitable for an organization when customers are loyal and willing to pay high prices?
differentiation
_____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.
strategy execution
Which of these is true about the cash cow?
it has a large market share in slow growth industry
According to the BCG Matrix, which of the following exists in a mature, slow-growth industry, but is a dominant business in the industry, with a large market share?
cash cow
The BCG matrix organizes along which of the following dimensions?
business growth rate and market share
All of the following are Porter's competitive forces except:
differntiation
Classy Clay has extremely creative employees who, in the opinion of the organization, keep the company ahead of the competition. The creativity of these employees would be classified as a(n) _____.
internal strenght
The purpose of _____ is to expand the firm's business operations to produce new kinds of valuable products and services?
diversification
Which of the following pertains to the organization as a whole?
corporate level strategy
The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is known as a(n) _____.
strategy
What type of organizational unit has a unique business mission, product line, competitors, and markets relative to other units in the same corporation?
strategic business unit
The _____ strategy involves seeking efficient facilities, cutting costs and using tight cost controls to be more efficient than competitors.
cost leadership
Which of the following strategies involve an attempt to distinguish the firm's products or services from others in the industry?
differentiation
Persuasion, motivation, and changes in cultures and values are examples of which of the dimensions used to implement strategy?
leadership
The star has
large market share in a rapidly growing industry.
Which of the following is NOT one of Porter's competitive forces?
Bargaining power of stockholders
The _____ function recruits selects, trains, transfers, promotes, and lays off employees to achieve strategic goals.
human resource
Paramount, Inc. is particularly concerned about pending legislation in Congress that would further regulate their organization. This legislation would be classified as a(n) _____.
external threat
If ABC International has standardized its product line throughout the world it is pursuing a:
globalization strategy
After Sunshine Systems merged with RTD Enterprises, company executives noticed that due to increased employee collaboration between the two units, costs were down and revenues increased within both areas. This is an example of what business phenomenon?
synergy
Which of these is true about the dog division?
It has a small share of a slow growth market.
Where does the information about opportunities and threats comes from?
scanning the external enviorments
Which of these questions is central to a functional-level strategy?
How do we support our chosen strategy?
_____ can be defined as the combination of benefits received and costs paid by the customer
value
Which of the following lists the strategic management process in proper order?
Evaluate current mission/goals; Perform SWOT analysis; Define new mission/goals; Formulate strategy; Execute strategy.
To remain competitive, companies should develop strategies that focus on core competencies, providing synergy, and creating value for _____.
customers
The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone is known as:
synergy
Which of the following strategies refers to moving into a new business that is related to the company's existing business activities?
related diversification
The question mark has a:
small market share in a rapidly growing industry.
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