CH. 9 MAN

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A strategic business unit​ (SBU) of a major corporation has high market share in its​ industry, but the growth rate of the industry is expected to be stagnant over the long run. According to the BCG​ matrix, how would this SBU be​ categorized?

Cash cow

Because of its sheer size and the volume of products it purchases from its​ vendors, Walmart can dictate the prices it will pay. Which of​ Porter's five competitive forces does this​ represent?

Bargaining power of buyers

Which of the following is the second step of the strategic management​ process?

Doing an external analysis

Jake is in the process of developing a strategic plan for his organization. He has just completed an analysis of the​ firm's resources and capabilities and has identified its strengths and weaknesses. According to the​ six-step strategic management​process, which step has Jake​ performed?

Doing an internal analysis

Which of the following corporate strategies would be used by an organization to address declining​ performance?

Renewal strategy

Which of the following is NOT one of the five competitive forces identified by Michael​ Porter?

Anticipated legislation

An electronics firm develops a control for an appliance​ manufacturer, and its contract states​ that, if the appliance manufacturer terminates the contract​ early, it must reimburse the electronics firm for​ $2 million in development costs. Which of​Porter's five competitive forces does this​ represent?

Bargaining power of suppliers

Pasta Pronto is planning to grow by adding a location and increasing its delivery radius. What type of strategy is Pasta Pronto​ using?

Concentration

In terms of the BCG​ (Boston Consulting​ Group) matrix, which of the following best describes cash​ cows?

High market​ share/low anticipated growth rate

Which of the following corporate strategies would be described as a status quo​ strategy?

Stability strategy

Which of the following is NOT true of strategic​ management?

The economic viability of the​ organization's business model is seldom a factor in the strategic management process.

A major appliance manufacturer that has been purchasing electronic controls from a supplier makes the decision to design and develop the controls​ in-house. From the​ supplier's perspective, which of​ Porter's five competitive forces does this​represent?

Threat of new entrants

A major appliance manufacturer that has been purchasing electronic controls from a supplier makes the decision to design and develop the controls​ in-house. What type of corporate strategy does this​ represent?

Vertical integration

Zappos provides customers with a personal shopping assistant who helps customers track down shoes or clothing​ online, even if Zappos​ doesn't sell it. Based on this​ information, Zappos is most likely pursuing​ a(n) ________ strategy.

customer service

An​ organization's skills and abilities in doing the work activities needed in its business are referred to as its​ ________.

capabilities

A​ company's distinctive edge is referred to as its​ ________.

competitive advantage

What sets an organization apart from its competitors is known as its​ ________.

competitive advantage

An organization that grows using​ ________ expands by focusing on its primary line of business and increasing the number of products offered or markets served in its primary business.

concentration

RGH Enterprises is able to produce a wide line of garden tools and sells a high​ volume, and thus can capitalize on economies of scale and charge lower prices than its competitors. RGH Enterprises is using the​ ________ strategy.

cost leadership

All of the following are reasons why strategic management is important EXCEPT​ ________.

organizational conflict

​Barbara's Bridals does not want to be​ "all things to all​ people." The company serves a niche market of​ plus-sized brides who want to purchase​ high-end, designer wedding gowns.​ Barbara's Bridals is pursuing a​ ________ strategy.

focus

A​ ________ strategy involves expansion of one or more aspects of a business.

growth

Some firms use social media as a way to gain competitive advantage. For a social media strategy to be​ effective, it must​ ________.

help people connect and reduce costs​ and/or increase revenues

One example of using​ ________ as a competitive advantage occurred when Procter​ & Gamble added a​ tartar-fighting ingredient from toothpaste to its dry adult pet foods.

innovation

The ABC company is focused on advancements in existing technology or services.​ Therefore, it is investing additional funding in research and development activities. ABC is likely pursuing​ a(n) ________ strategy.

innovation

JMY Technologies has experienced declining performance for the past six months.​ Top-level managers have determined that the problems are minor in nature and that a​ short-run renewal strategy is most appropriate. In order to stabilize​operations, JMY will most likely implement a​ ________ strategy.

retrenchment

A strategic business unit​ (SBU) of a major corporation has entered a​ new, high volume industry and has quickly captured a significant share of the market. According to the BCG​ (Boston Consulting​ Group) matrix, how would this SBU be​categorized?

star

When managers develop the strategies for the organization for how it will compete​ successfully, they are engaged in​ ________.

strategic management

A​ company's ________​ spell(s) out how the organization will do what it​ does, how it will compete​ successfully, and how it will attract and satisfy customers in order to achieve its goals.

strategies

A​ company's brand recognition is strong. In terms of an​ internal/external analysis, this would be classified as​ a(n) ________.

strength

In terms of an​ internal/external analysis, loyal​ employees, low​ turnover, and a​ well-trained workforce would be examples of a​ ________.

strength

A retail competitor is building a new facility within a few blocks of your store. In terms of an​ internal/external analysis, this would be classified as​ a(n) ________.

threat

One of GTO​ Industries' key suppliers is in the midst of a labor dispute and workers have gone on strike. In terms of an​ internal/external analysis, this would be an example of​ a(n) ________.

threat

In terms of an​ internal/external analysis, the use of obsolete technology in an outdated facility would be considered​ a(n) ________.

weakness

According to the Boston Consulting Group​ (BCG) matrix, a question mark has​ ________ market share and​ ________ anticipated growth rate.

​low; high


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