Exam 7: Strategic Management: Planning for Long-Term Success

Georgia is the owner of Blue Heron Cleaning. She wants to know how to tell if she is in the right competitive niche (the market her business is uniquely qualified to pursue). What strategic management tool should you recommend?

Inability to achieve cooperation, according to a business ecologist, is the major factor today limiting the spread of realized innovation.

Under a cost-leadership strategy, it is especially important that a brand's image be carefully nurtured and protected, so that brand loyalty and customers' willingness to pay a premium price does not erode.

Home Designs, Inc. Home Designs, Inc. leveraged its brand name recently by adding windows and roof-related work and installation. On the same acreage where Home Designs has a door manufacturing facility, the company built another production facility for making windows. Sherice, the owner, is considering the strategic management approach necessary to determine how to take advantage of the company's strengths and exploit its opportunities. -Refer to Home Designs, Inc. If Home Designs markets its products as highly reliable and backed by a unique service guarantee in a two-state region, it is adopting which of Porter's generic strategies?

Strategy is the exclusive domain of top level management.

____ is the ongoing process of ensuring a competitively superior fit between an organization and its changing environment.

A traditional mode of strategy making is the transactive mode.

A careful situational analysis of the organization and its environment is part of developing a grand strategy.

Competition should take precedence over cooperation, according to the business ecosystem model.

Social media are ________________ Web tools.

Research shows that middle managers resist or derail strategies for what reason?

A company with a well-known brand name such as Clorox is following a cost leadership strategy, according to Porter's generic strategy model.

Which of the following is a sources of competitive advantage for the commission-based Internet business model?

Home Designs, Inc. Home Designs, Inc. leveraged its brand name recently by adding windows and roof-related work and installation. On the same acreage where Home Designs has a door manufacturing facility, the company built another production facility for making windows. Sherice, the owner, is considering the strategic management approach necessary to determine how to take advantage of the company's strengths and exploit its opportunities. -Refer to Home Designs, Inc. By building the second manufacturing facility on the same plot of land, Home Designs takes advantage of ____ synergy.

What type of analysis has been called "no surprise" strategic planning?

A(n) ____ forecast would help J&T Mutual predict the monthly prime interest rate for the next two years.

When a Web site draws the same customer back again and again, it is called a "corner store site."

In a SWOT analysis, the "W" stands for

____ is not a key dimension of strategic farsightedness.

____ is a forecasting technique based on the assumption that the future will be an extension of present and past tendencies.