Exam 9: Strategic Planning

An organization that grows using ________ focuses on its primary line of business and increases the number of products offered or markets served in this primary business.

Casey realizes that she has a personal characteristic that suggests she is not comfortable interacting with strangers. She interprets this as a(n) ________ if she is to get a job as a salesperson.

Defining the organizational mission forces managers to identify what ________.

________ is the ability to recognize major external changes, to quickly commit resources, and to recognize when a strategic decision is not working.

A retrenchment strategy is a short-run renewal strategy that helps an organization stabilize operations, revitalize organizational resources and capabilities, and prepare to compete once again.

Managers should "milk" cash cows for as much as they can, limit any new investment in them, and use the large amounts of cash generated to invest in ________ and ________.

A ________ firm uses both online and traditional stand-alone locations.

When an organization is analyzing its labor supply, it is studying its ________.

Corporate strategies determine what business a company is in or wants to be in, and what it wants to do with those businesses.

________ are positive trends in the external environment.

What is a strategic disadvantage of being a first mover?

Helen, the owner of Crazy Cupcakes, is conducting a SWOT analysis of her company. Which one of the following represents an opportunity for expansion?

How can an organization develop strategic flexibility?

A company that competes by offering unique products that are widely valued by customers is following a differentiation strategy.

Managers using the strategic management process always achieve positive outcomes.

Kiva Systems, manufacturer of robots used in flexible automation systems, demonstrates the power of ________ by "teaching" its robots to dispose of used cardboard and to assist in gift wrapping for e-commerce warehouse fulfillment.

Discuss how managers can formulate e-business strategies that contribute to the development of a sustainable competitive advantage in today's environment.

Identify the six steps in the strategic management process and briefly explain what happens in each step.

________ takes place when a company combines with other companies in different, but associated, industries.

Hendricks Ceramics sells items it buys from ceramic factories. If it were to purchase one of these factories, it would be engaging in ________ integration.