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