BUS 450 Chapter 4 Warm Up

The strategy-formulation tool that summarizes and evaluates the major strengths and weaknesses in the functional areas of a business is _______.

the internal factor evaluation (IFE) matrix.

Strategists use _______ to provide a firm with proprietary business intelligence.

business analytics.

Financial ratio analysis should be conducted on three separate fronts, which include ________.

change over time, comparison to industry norms, and comparison to key competitors.

The management function of ________ is particularly important for strategy evaluation.

controlling.

Strengths that cannot be easily matched or imitated by competitors are called ________.

distinctive competencies.

What is the most widely used method for determining an organization's strengths and weaknesses in the investment, financing, and dividend areas?

financial ratio analysis.

What ties all business functions together and provides the basis for all managerial decisions?

information.

The resource-based view emphasizes the importance of __________.

internal resources.

The IFE matrix is an evaluation of the effectiveness of a firm's current strategies, but it does not take into account ____________.

opportunities and threats.

Which two management functions are most important at the strategic-management process stage of strategy implementation?

organizing and motivating.

Marketers can best use their strategic toolbox to ensure that their firm's offering delivers value to target customers when there is ______.

a clearly defined target market.

In conducting a marketing audit, which of the following would NOT be a question to ask? a) is the firm's internet presence excellent as compared to rivals? b) is the organization's structure appropriate? c) are markets segmented effectively? d) is the organization positioned well among competitors? e) does the firm have an effective promotional strategy?

b) is the organization's structure appropriate?