Exam 9: Strategic Planning

A ________ strategy is when an organization expands the number of markets served or the products offered.

In ________ integration, the organization gains control of its outputs by becoming its own distributor.

Exceptional or unique organizational resources are known as core capabilities.

Top-level managers are responsible for ________ strategies.

A firm that is '"stuck in the middle'" cannot develop ________.

Activities that an organization does well or resources that it has available are called capabilities.

The combined external and internal analyses are called ________.

An organization that is diversifying its product line is exhibiting what type of corporate strategy?

When a company combines with firms in different and dissimilar industries, it indulges in ________.

Newmark RV is performing an internal analysis. Which of the following would be considered a resource?

When a firm integrates backward, it becomes its own distributor.

Managers perform an external analysis so that they know about ________.

A bank estimates the capabilities of its customer service employees prior to implementing a new training program designed to change their method of providing customer service. The bank is ________.

When conducting a SWOT analysis, threats are activities the organization doesn't do well or resources it needs but doesn't possess.

When Stratasys began making 3D printers in 1988, the future of this new invention was unknown but expected to grow. Stratasys was one of a handful of producers of these printers. According to the BCG matrix, Stratasys was a ________.

A ________ describes the rationale of how a company is going to make money.

Emily's Bakery's customers have asked her to open a second location in a neighboring town offering the same menu as the original location. If Emily decides to do this, she will be following a ________ strategy.

A strategy defines how a company is going to make money.

Diversification is an example of a corporate retrenchment strategy.

During the Great Recession, Malcolm's Racing Bikes lost a considerable amount of its business because customers could no longer afford the expensive models in his shop. He was very near bankruptcy. Malcolm began carrying a line of less expensive bikes to appeal to recreational bicyclists and families and also opened a repair service. Malcolm used a ________ strategy.