Exam 10: Managing Strategically

Functional strategy directly supports the ________ strategy.

According to the BCG matrix,a ________ does not consume or produce much cash,and holds little or no promise for improved performance.

The ________ answers the question "What is our reason for being in business?"

According to Michael Porter's competitive strategies framework,which of the following strategies seeks to offer unique products to a broad customer market?

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? -With the acquisition of Sandwich King,you now have more than 100 restaurant locations across Canada.The bread suppliers that you have been using are unable to keep up with demand in some markets,so you decide to purchase a wholesale bakery that is large enough to provide a secure supply of fresh bread to your busiest restaurants.Purchasing the bakery is an example of which strategy?

When the Campbell Soup Company began to manufacture its own cans to gain more control over a key production input,it was pursuing which corporate 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? -Recently,you also purchased a small company that produces computer imaging software for medical applications.The business is profitable and growing,but the technological unknowns make it risky.According to the BGC matrix,it would be considered a ________.

Megabyte Centre (Scenario) Your old friend Ariel Eskenazi is the owner and general manager of Megabyte Centre, a computer reseller and systems integrator located in Panama City, Panama. Since leaving IBM Canada to start a business in his home country, Ariel has watched his company grow steadily, due in large part to the business partnerships he's established over the years with large foreign computer and software firms, such as Goldstar and Microsoft. These relationships have helped his company win considerable market share in Panama, as well as in other parts of Latin America. However, in recent years, there has been a huge influx of foreign capital into Panama. For example, several large Asian firms have established subsidiaries in Panama to launch their North American operations. Tourism is also on the rise, and dozens of new hotels have been built in the metropolitan area over the past three years. As a result, demand for Megabyte's products and services has increased dramatically, but so has the level and diversity of its competition. While Megabyte's customer base has remained fairly loyal, many longtime customers are beginning to demand price concessions and enhanced service levels in return for their continued business. Ariel has recently learned that several of his former suppliers and business partners are considering establishing their own local sales offices in Panama City to sell direct to market rather than distributing through Megabyte. Ariel knows you are very knowledgeable about competitive strategy and asks for your advice. You begin by telling him a little about Michael Porter's competitive strategies framework. -Once Ariel has assessed the five forces and determined the threats and opportunities that exist in the current environment,he will be ready to select an appropriate competitive strategy.The three competitive strategies proposed by Michael Porter are ________.

A differentiator might use e-business techniques to ________.

Generally,strategic plans do not work well for small,entrepreneurial companies.

According to Michael Porter's competitive strategies framework,a company using a focus strategy seeks to offer a unique product to a broad target market by focusing on a specific product attribute such as exceptionally high quality or extraordinary service.

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 controversy and negative publicity associated with cosmetics testing on animals would be classified as a(n)________.

Ronald's has been in the fast-food business for five years.After struggling for two years,it finally broke even,and the french fries it offers are its most popular product.However,during the past year,its business has suffered because the farm that used to supply it with potatoes has increased its prices drastically.What should Ronald's do to control production costs?

The purpose of Cathy's Clowns is "to provide healthy entertainment that makes young children laugh." This statement describes Cathy's ________.

In a short essay,discuss the strategies by which an organization grows.Give relevant examples to support your answer.

Mission statement should contain an expression about ________.

Creating and sustaining a strong organizational culture is one of the dimensions of strategic leadership.

In response to the global recession,companies that focused on flexible strategies were better able to cope with the environmental uncertainty.

Managers using the strategic management process always achieve positive outcomes.

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 learns that the first step in the strategic management process is to ________.