Exam 10: Managing Strategically

SWOT Analysis (Scenario) Terri has been asked to review her company's strategy in the cosmetics industry. Top management wants to ensure that they are aware of emerging trends and changes. Terri began reviewing a list of factors in her mind. Recently, there has been some negative publicity about cosmetics testing on animals; an industry practice that has become very controversial and increasingly unacceptable to consumers. The laboratory animals at Terri's company are well treated, but they are still used to test new products. On a positive note, industry-wide sales are up 10 percent. Women are buying more cosmetics in general, which is good news for the company. Another positive factor is their personnel. They have many good people working in the company, particularly in research and development where the expertise is exceptional. The only other negative factor noted by Terri was that last year's advertising campaign had not achieved the desired results. Something needed to be done in that department. Terri began to compile her report. -The fact that industry-wide sales are up by 10 percent because women are buying more cosmetics would be considered a(n)________.

When Kimberly-Clark Corporation merged with Scott Paper Company to form the world's largest producer of tissue paper,they were pursuing which growth strategy?

Clubhouse Gourmet -A- (Scenario) Imagine that you are the president of Clubhouse Gourmet, a successful chain of fast-food restaurants with 60 locations across Canada. The success you have experienced in the last five years has you considering various options about what to do next with the business. Should you continue to expand the business at the current rate? Or perhaps open new and different restaurants? What should you do? -If you decided to purchase a chain of five home furnishing stores because it was a good investment,this would be considered which strategy?

The Strategic Management Process (Scenario) Kerry is vice-president of operations at Delta Corp. The company president has asked Kerry to lead the strategic management process that will help guide Delta through the next five to ten years. At next week's management meeting, Kerry must give a presentation that explains the process. In preparation, Kerry begins by reviewing the steps in the strategic management process from his university textbook. -Kerry will also need to assess industry trends,level of competition,labour supply,and pending legislation that might have an impact on Delta's operations.This occurs at which step of the strategic management process?

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

Appliance maker Maytag states that its products are so reliable that its customers may never need a service call.For nearly 40 years,it has promoted this claim in advertisements featuring the legendary "Lonely Maytag Repairman." Which of the following is the primary source of Maytag's competitive advantage?

Florance is a chain of flower shops in the Toronto area.The company recently acquired Knick-knacks,which owns three gift shops.Which of the following is most similar to this acquisition?

A focuser might use e-business techniques to ________.

Cindy's Cosmetics continues to offer the same high quality beauty products that it has for the last 10 years.The company is successful in its market segment and has no plans for change in the near future.The company is pursuing which type of strategy?

Claire's Fashions markets an inexpensive line of fashion jewellery that targets "tween" girls,aged 8 to 12.Claire's is using which of the following competitive strategies?

A turnaround strategy is a type of renewal strategy used when an organization is in serious trouble.

The major value-creating capabilities and skills of the organization are knows as ________.

One important customer service strategy is to give customers what they want regardless of the cost.

SWOT analysis includes an analysis of an organization's internal and external environments.

At which step of the strategic management process do managers try to find out what the competition is doing and what pending legislation might affect the organization?

The BCG matrix evaluates businesses to identify which ones offer high potential and which ones drain organizational resources.

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

In Michael Porter's five forces model of industry attractiveness,________ is determined by barriers to entry such as economies of scale and brand loyalty.

Which of the following is a first-mover disadvantage?

Studies of the factors that contribute to organizational performance have shown ________ relationship between strategic planning and performance.