5 Written questions
5 Matching questions
- Situational Analysis (SWOT)
- Competitive inertia
- Corporate-level strategy
- WHAT are the three steps to create strategies that produce sustainable competitive advantage?
- a assess the need for strategic change, conduct a situational analysis, and choose strategic alternatives.
- b a reluctance to change strategies or competitive practices that have been successful in the past
- c a company with a large share of a fast-growing market
- d : an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment.
- e the overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?"
5 Multiple choice questions
- : the firms in a strategic group whose strategies are changing from one strategic position to another
- 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.
- creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures
- the central companies in a strategic group.
- involves identifying outstanding practices, processes, and standards at other companies and adapting them to your own company
5 True/False questions
Strategic group → a discrepancy between upper management's intended strategy and the strategy actually implemented by lower levels of management
Nonsubstitutable resource → a resource, without equivalent substitutes or replacements, that produces value or competitive advantage
Secondary firms → the firms in a strategic group that follow related, but somewhat different strategies than do the core firms
Stability strategy → a strategy that focuses on improving the way in which the company sells the same products or services to the same customers
Retrenchment strategy → a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business.