Exam 9: Strategic Planning

In an organization, the single independent businesses which formulate their own competitive strategies are known as ________.

________ should be sold off or liquidated as they have low market share and low growth potential.

A business model describes how a company is going to make money and what it is going to do with it.

People's Airlines offers what it calls "no frills" flights: no reserved seating, no snacks or meals on flights, small planes that fly to smaller airports away from the city centers. People's Airlines is likely following a ________ strategy.

Although it is difficult to do, a "stuck in the middle" company can keep costs low and distinguish itself from its competitors.

Patrick expects each person he hires for his online business to be involved in studying trends involving new technology, competitors, and customers. These employees are involved in ________.

The French fries at Ronald's fast food business have been its most popular product. During the past year, its profits have suffered because the farm that supplies it with potatoes has increased its prices drastically. What should Ronald's do to control its production costs?

Which one of the following provides a framework for understanding diverse businesses and helps managers establish priorities for allocating resources?

The major value-creating capabilities of the organization are known as its ________.

Tom's Welding has been supplying frames to the mobile home industry for many years. His business has remained steady despite the entry of other firms into the industry. Tom's is likely pursuing a ________ strategy.

Which of the following is a competitive force under the five forces model?

Discuss the five forces model and the various competitive strategies that an organization may use.

Discuss the corporate portfolio matrix and the Boston Consulting Group (BCG) matrix.

AI Rubber is one of four suppliers of molded rubber products and has a 45% market share. The market for its products is shrinking. AI Rubber is part of a larger corporation that includes a total of seven different companies. In the BCG matrix, AI Rubber would be considered a ________.

Evaluating an organization's intangible assets is part of conducting an internal analysis in the strategic management process.

Apple is an example of a company that was ________.

Strategic management helps coordinate the efforts of all department and functional areas of an organization.

An organization that initially brings a product innovation to the market is known as the ________.

In the BCG matrix, a ________ has a low anticipated growth rate and a low market share.

Discuss the concept of competitive advantage and explain how quality is a competitive advantage.