management

When a decision is routine, and it can be made by following rules or policies, it is known as a programmed decision.

programmed

Scanning national and global news is often part of:

Determining external SWOT factors

Theo Chocolate produces organic, fair trade chocolate and other candies for not only foodies and green consumers, but also anyone who wants a milk chocolate bar. This indicates that Theo has a:

Differentiation strategy

The hardest part of the strategic management process is:

Executing strategy

Which of the following strategies is likely to cost a company the least amount of money to implement?

Export

Managers who feel that their companies have a high need for global integration should choose which of the following strategies?

Globalization

Theo Chocolate is ready to take their products abroad. Debra, Theo's Chief Marketing Officer, is certain that Japanese consumers will love their current ginger or orange chocolate bar flavors and customers in India would like the curry and coconut. She also feels confident that their current simple packaging will not need to be altered in either country as customers will be able to understand the product flavor by the picture on the package. Which type of global corporate strategy is Debra considering?

Globalization strategy

Managers who want their companies to have high levels of global integration and high levels of national responsiveness should choose which of the following strategies?

Glocalization

Which of the following is NOT typically a problem when executing strategic planning?

Insufficient stakeholder support

Which of the following is NOT an effective tool for use by managers to help execute strategic planning? Check all that apply.

Micromanagement Public reprimands

Which of the following strategies would be best to use if your company wanted to sell different products in different locations all around the world and not worry about having one set of policies for the company as a whole?

Multidomestic

Theo Chocolate is ready to take their products abroad. Debra, Theo's Chief Marketing Officer, has decided that the company needs to add Matcha green tea, wasabi, and red bean flavors to their chocolate bars in order to customize their products to Japanese tastes. For India, Debra thinks saffron and cardamom flavors would be best. She knows there is a lot of industry competition in other countries, so Theo will have to spend some time considering how to market the products abroad. Which type of global corporate strategy is Debra considering?

Multidomestic strategy

Theo Chocolate is considering opening a cooking school which will teach students techniques for working with chocolate and recipes that feature Theo chocolate as an ingredient. This would be an example of:

Related diversification

Decisions are more likely to fail when they are nonprogrammed decisions, made under conditions of

conditions of ambiguity non programmed

Theo chocolate is ready to offer their products abroad. Debra, Theo's Chief Marketing Officer, has asked their web developer to translate Theo's webpage into 5 different languages. Their online ordering system will then be able to accept international orders. Debra thinks customers in Japan would appreciate their ginger chocolate bar while customers in India may like their curry and coconut chocolate bar. Theo will offer discounts on bulk orders, but Debra expects international orders to be a small portion of their profits. Which type of global corporate strategy is Debra considering?

Export strategy

When formulating strategy, Theo Chocolate's managers scan the business environment for factors that will or could impact the company's competitive advantage. Which of the following would pose a threat to Theo? Check all that apply.

The USDA releases a report about the potential link between chocolate and cancer. Unlike other chocolate brands, Theo sources their cacao beans directly from farmers in Peru and the Democratic Republic of Congo, incurring greater costs than competitors who purchase from suppliers.

The most difficult decision-making situation is ambiguity , because the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable.

The most difficult decision-making situation is ambiguity , because the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable.

When Theo Chocolate's managers meet to develop the company's strategy, one of the first things they do is a SWOT analysis. Which of the following would be an opportunity for Theo? Check all that apply.

Theo is featured as one of Oprah Winfrey's "Favorite Things List" in "6 New Chocolate Bars We're Crazy About" on Oprah.com. Theo partners with Ben Affleck's Eastern Congo Initiative to launch a chocolate bar line, where a part of the proceeds are donated to help Congolese farmers and their families.

Seattle, home to Theo Chocolate, experiences around 155 days of rain per year. CEO of Theo, Joe Whinney, recently purchased a umbrella company which will produce umbrellas in various colors and sizes. This is an example of:

Unrelated diversification

Theo Chocolate has decided to purchase a fleet of climate controlled trucks which will allow them to distribute and deliver their products to grocery stores across the U.S. This is an example of:

Vertical integration