Exam 6: Planning, Strategy, and Competitive Advantage

In general, business planning involves three distinct steps. Discuss these three steps.

Managers at Dimensions, Inc., analyze the current situation of their organization and then develop plans to help their organization accomplish its mission and achieve its goals. This is known as ________.

An ongoing process in which managers build and refine previous plans and continually modify plans at all levels, corporate, business, and functional, so that they fit together into one broad framework, is known as ________.

When managers pool or share their organization's resources and know-how with those of a foreign company, and the two organizations share the rewards or risks of starting a new venture in a foreign country, the two organizations are involved in ________.

Managers can use four principal corporate-level strategies in order to help their organization to increase its sales and profits. Discuss any two of these strategies and explain the decisions that a manager would have to make in a business in order to design a program that used these two strategies.

Unilever sells different products using a different marketing approach in England than it uses when marketing these products in the United States. This is an example of a ________ strategy.

PepsiCo purchased KFC so that it could replace Coke products with Pepsi products in KFC restaurants. This is an example of a _________ strategy.

The least complex global operation is _______.

Jespher, Inc., allows Hertonz, a foreign organization, to take charge of both manufacturing and distributing one or more of its products in Thailand in return for a negotiated fee. This is an example of ________.

An organization purchases one of its suppliers in order to obtain access to the raw materials it needs for its production. The organization is using a(n) _______ corporate-level strategy.

The organizational strategy that specifies the activities of managers at the departmental level of the organization is a _____________-level strategy.

When an organization enters a new type of industry, which is not similar in any way to the current businesses of the organization, it is engaged in ________.

A group of managers at Power Explosives analyzes both the internal strengths and weaknesses of their organization as well as the opportunities and threats of the external environment. Which of the following planning exercises does this indicate?

The Stonehedge Bayonet Company aims at a market of hunters, and they try to keep prices lower than competition. Stonehedge is pursuing a ________ strategy.

List the process of strategy implementation.

Give the four major reasons why planning is important.

Managers should attempt to collect and use all available information in the organization's planning process. This emphasizes the _______ aspect of planning.

The industries and national markets an organization intends to compete in and the reasons why are specified in a company's _______-level strategy.

Which of the following qualities of an effective plan allows for alterations if the situation changes?

What is the plan of action for a business-level strategy based on SWOT analysis?