Chapter 9 Management

The textbook describes a business model as how a company is going to make money. According to Sanjay Brahmawar, CEO of Software AG, his company business model is based on the following:

strong products and employee talent

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

Your strengths are​ ________.

your individual personal positive attributes and characteristics

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

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

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

growth

​It's important to know your individual personal strengths and weaknesses because​ ________.

Answer: All of the Above (below) you need to​ find, know, and leverage your workplace strengths so you can be the best employee possible you can size up where you stand in your career and make good decisions about how to keep advancing you need to be prepared to answer that question when interviewers ask

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

Anticipated legislation

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

Government regulation influences the operations of most businesses. Which regulatory topic did Software AG's CEO briefly discuss?

Data privacy

The textbook describes corporate strategy as the businesses a company chooses to be in and what to do with those businesses. Which corporate strategy does Software AG follow?

Growth

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

High market​ share/low anticipated growth rate

Competitive advantage describes a distinctive edge that a company possesses to set itself apart from the competition. What is Software AG's competitive advantage?

Innovation

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

organizational conflict

Which of the following is FALSE about​ weaknesses?

It's never helpful to ask others as to what they see as your weaknesses

One thing you should assess when looking at your personal strengths are your​ ________.

skills, defined as what you are good at

Mergers and acquisitions is one approach a company can use to fuel growth and profitability. How do mergers and acquisitions foster growth?

Partnering

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

strength

Which of the following is NOT a reason why you should consider your strengths and​ weaknesses?

Your strengths and weaknesses are set in childhood and cannot be changed

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

competitive advantage