5 Written questions
5 Matching questions
- Shadow-strategy task force
- Competitive Aggressiveness
- The matrix separates businesses into four categories which are WHAT?
- Retrenchment strategy
- a Star, Question mark,Cash cow, and Dog
- b strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business
- c : a committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage.
- d entrepreneurial 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.
- e involves identifying outstanding practices, processes, and standards at other companies and adapting them to your own company
5 Multiple choice questions
- creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures
- Situation Analysis
- a discrepancy between upper management's intended strategy and the strategy actually implemented by lower levels of management
- entrepreneurial firms anticipate future problems, needs, or changes and develop solutions to meet them, even if they are unrelated to their current business.
- assess the need for strategic change, conduct a situational analysis, and choose strategic alternatives.
5 True/False questions
Market commonality → 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
Cash cow → a company with a large share of a slow-growing market
Dog → a company with a large share of a fast-growing market
Core firms → the firms in a strategic group that follow related, but somewhat different strategies than do the core firms
Distinctive competence → what a company can make, do, or perform better than its competitors. Review the resources and the processes to see if it's valuable or not. Rare is important as well. Rare means that not everyone has equal access. It is not easy to duplicate. Regular coffee verses Starbucks coffee (example). You want to ensure the product or service cannot be substituted. (This would be a competitor advantage)