Exam 6: Planning, Strategy, and Competitive Advantage

The Stonehedge Bayonet Company aims at a market of hunters,and they try to keep prices lower than competition.Which of the following strategies is Stonehedge pursuing?

Which of the following levels of an organization contains the organization's marketing department,R&D department,and human resources department?

A general guide to action for the managers of an organization is known as a:

A written set of instructions that describes the series of actions that a manager should take in a specific situation is called an SOP of an organization.

Which of the following plans of an organization contains top management's decisions about the organization's mission,goals,strategy,and structure?

Synergy is obtained by apportioning financial resources among divisions to increase financial returns or spread risks among different businesses.

TechnoSol Ltd.designs a corporate-level strategy,which includes expanding its operations into a new type of business for the organization.Which of the following strategies is TechnoSol Ltd.pursuing?

A rule is a general guide to action within an organization.

Concentration on a single industry,vertical integration,diversification,and international expansion are principle strategies of which of the following levels of an organization?

An organization's level of involvement abroad decreases in a joint venture because the alliance rarely involves capital investment to produce goods or services outside the home country.

The most complex global operations are exporting and importing.

The number of months covered in the typical business plan is known as the time horizon of the plan.

Planning involves identifying and selecting appropriate goals and courses of action for an organization.

_____ strategy specifies in which industries and national markets an organization intends to compete and why.

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

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 which mode of international expansion?

With a multidomestic strategy,managers decide to sell the same product with the same marketing approach in all of the countries in which the product is sold.

The cluster of decisions about what goals to pursue,what actions to take,and how to use resources to achieve goals,is called an organization's strategy.

Scenario planning is often used to strengthen SWOT analysis.

According to Porter,organizations cannot simultaneously pursue both a low-cost strategy and a differentiation strategy.Why? Explain how exceptions to this "rule" can be found,and give an example to illustrate the point.