MGT 4810 Final Exam
Porter's Five Generic Strategies
1. Cost Leadership - Low Cost 2. Cost Leadership - Best Value 3. Differentiation 4. Focus - Low Cost 5. Focus - Best Value
five times
A conservative rule of thumb is to establish a business' worth ______ the firm's current annual profit
Stockholders
A group of people that make up a corporation by sharing ownership in a certain company
Stakeholders
All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address.
Mintzberg's notion of "crafting" strategies A) is consistent with the view that strategic management is more a science than an art. B) contends that firms need to assess their environments, do research, evaluate alternatives, analyze, and then choose a course of action. C) suggests that strategic decision making be based primarily on holistic thinking, intuition, creativity, and imagination. D) reject strategies that result from subjective imagination in favor of objective analysis. E) insists on formality.
C
Matching which factors would allow factories to produce desirable levels without extra shifts, overtime, or subcontracting? A) Markets and competitors B) Competition and positioning C) Customer behavior and positioning D) Supply and demand E) Segments and competitors
D supply and demand
5 external forces
Political- trade barriers Technological- old equipment Ecological- weather Social- foreign customs Economical- a recession
mulitnational corporation
a company that is heavily engaged in international trade, beyond exporting and importing
what is the cornerstone of effective strategy evaluation
adequate and timely feedback
To use operating leverage
all of the following are strategic marketing issues or decisions Except
financial ratios
are quantitative criteria commonly used to evaluate strategies
Subdividing a market into distinct subsets of customers according to their needs and buying habits is known as A) market penetration. B) product diversification. C) market segregation. D) market segmentation. E) positioning.
d marketing segmentation
the first step in performing projected financial analysis is it
forecast sales as accurately as possible
competitive advantage normally is the result of superiority in resources, skills, or employees
position
Globalization
the process by which businesses or other organizations develop international influence or start operating on an international scale.
Projected Financial Statement Analysis
what is a central strategy implementation technique that allows an organization to examine the expected results of various strategy implementation decisios
Market segmentation and product positioning
which two variables rank as marketing most important contributions to strategic management