Chapter 8
A multinational tire manufacturer introduces a line of premium, high-priced tires that can handle extreme temperatures. The tires are only marketed in the Middle East and were designed with the climatic conditions with that region in mind. The manufacturer is pursuing a ________ strategy.
focused differentiation
The CEO of a restaurant chain announces that the company will be fully compliant with improved nutritional standards within the next three years. As the marketing manager for the restaurant, Brenda is tasked with developing goals and a plan for promoting the changes in concert with other areas within the company. Brenda's efforts are considered ________ planning.
functional-level
The management team of an automobile company's luxury division decides to release a new model a month ahead of the planned date and notifies all departments associated with the division. The departmental managers must alter their ________ plans to accommodate the earlier release.
functional-level
A(n) ________ strategy is selling the same standardized product and using the same basic marketing approach in each national market.
global
According to an organization's SWOT analysis, a strength of the organization is
having the ability to manager strategic change.
Jerrod's company provides a policy document to every new employee that details procedures for time tracking, requesting vacation, and managing 401K enrollment cycles. This document is an example of a ________ plan.
standing
Jessie's law firm has a formal document that defines a zero-tolerance toward sexual harassment and the consequences of any violations. This is a
rule.
Managers use ________ to analyze how to respond effectively to multiple forecasts of future conditions.
scenario planning
Pinnacle Financial Services meet annually to create a list of potential future complications and plan how to respond to each possibility. Pinnacle is practicing ________ planning.
contingency
It is important that managers consider previous plans and make ongoing modifications that ensure plans at all levels fit together into one framework to achieve
continuity.
One of the principal tasks of management is identifying and selecting appropriate goals and courses of action. This is referred to as
planning
The organizers of an upcoming festival conduct a meeting to discuss the steps that would be taken in the event of various weather or community events that may impact the festival. This activity is an example of _________ planning.
programmed
A(n) ________ is a group of related managerial decisions and actions to help an organization achieve its goals.
strategy
Two divisions of a company decide to consolidate manufacturing facilities to maximize supplier discounts, optimize inventory management, and reduce fixed costs. This is an example of
synergy.
According to the SWOT analysis, an opportunity for a company would be the ability to
take over a bankrupt competitor.
A large pharmaceutical company decides to reduce the price of a medication to encourage physicians to continue prescribing it as generic brands have entered the market. According to the five forces model, which competitive force is the company addressing?
threat of substitute products
The airlines sold fewer tickets to business travelers during the "Great Recession" due to more companies using video conferencing software to save money. According to the five forces model, this type of threat is called the
threat of substitute products
A company's annual budget has a(n) ________ of one year.
time horizion
A cellphone provider established operations in foreign companies to sell its phones in those regions. The operations perform as seperate entities without any local direct involvement. These production operations are considered
wholly owned foreign subsidaries.
Pursuing international expansion through ________ exhibits the most risk and is the most expensive due to the high level of foreign investment required.
wholly owned foreign subsidiaries
