Exam 6: Planning, Strategy, and Competitive Advantage

A strategic alliance can take the form of a written contract between two or more companies to exchange resources, or it can result in the creation of a new organization.

An organization attempts to succeed by distinguishing its products from those of the competition; this is a(n) _______ strategy.

Write a brief note on global strategies and multidomestic strategies. Also mention one advantage and one disadvantage of each.

Business plans differ in the time horizons that they cover. Discuss the three major types of business plans in terms of their intended duration and explain why all three of these types of plans are important to a business.

The cluster of decisions that managers make to assist an organization to achieve its goals is known as ________.

The level of an organization that contains the organization's marketing department, R&D department, and human resources department is the ________ level.

What happens when there are only a few large customers in the market?

The planning and strategy making necessary to increase the efficiency and effectiveness of a particular function are the responsibility of a ________.

A company has a requirement that any manager who receives a gift from any of the company's customers worth more than $25 must report this gift to the company's human resources department. This is an example of a ________.

Managers at Ferwn Pvt., Ltd., which is number two in market share in the local sports equipment manufacturing industry, develop strategies to take over the number-one spot. This is an example of a _______-level strategy.

When General Electric Company expanded its operations by acquiring NBC television, this was an illustration of ________.

Coca-Cola spends an enormous amount of money on advertising to distinguish, and create a unique image for, their products. Coca-Cola is pursuing a ________ strategy.

The strategy that explains the methods that a division or an organization will use to compete against its rivals in the industry is a _______-level strategy.

The tool that is used in situations when programmed decision making is appropriate is a ________ plan.

Strategy formulation begins with managers systematically analyzing the factors inside an organization and outside in the global environment that affect the organization's ability to meet its goals now and in the future.

Arrow Corp. attempts to gain a competitive advantage by driving down its production costs per unit below those of its competitors. Arrow is pursuing a(n) _______ strategy.

Ace Real Estate conducted a SWOT analysis, and their managers believe that this year's local market growth will be slower than in the past. The predicted slow market growth is a(n) ________.

The corporate-level plan outlines the specific methods a division, a business unit, or an organization will use to compete effectively against its rivals in an industry.

A company that is serving only a few market segments has most likely adopted a ________ strategy.

A broad declaration of the organization's overriding purpose, which is intended to identify the organization's products and customer base, as well as to differentiate the organization from its competitors, is known as a ________ statement.