Exam 6: Planning, Strategy, and Competitive Advantage

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.

PepsiCo purchased KFC so that it could replace Coke products with Pepsi products in KFC restaurants.This is an example of which of the following strategies?

Madison Hotels sells a foreign organization the rights to use its brand name and operating know-how in return for a lump-sum payment and a share of the profits.This is an example of which mode of international expansion?

The ability of the CEO and top managers to convey a compelling vision of what they want the organization to achieve to their subordinates is known as:

Corporate-level strategy involves choosing the industry in which a company will compete.

When Gallo purchased a company that makes wine bottles,it was involved in:

According to Michael Porter's theory,it is possible for managers to pursue both a low-cost strategy and a differentiation strategy at the same time.

A plan that is updated and changed every year to take into consideration how the organization's external and internal environments have changed is known as a:

A program-an integrated set of plans for achieving certain goals-is an example of a standing plan.

Write a brief note on the different modes of international expansion.

The reason managers pursue vertical integration is that it allows them either to add value to their products by making them unique or to lower the costs of making and selling them.

Achievement of goals does not have any time constraints.

Discuss what is meant by a SWOT analysis.Explain briefly the steps involved in a SWOT analysis.

Managers at Ferwn Pvt.Ltd.which is number two in market share in the local sports equipments manufacturing industry,develop strategies to take over the number-one spot.Under which of the following levels of organizational strategies would this strategy fall?

Michael Porter presented four ways in which the top management of an organization could select a business-level strategy for their organization.Discuss any two of these four ways of increasing the value of the organization's products and explain the advantages and disadvantages of the strategies that you choose.

An intermediate-term plan has a time horizon between five and ten years.

Firestone Tire and Rubber Company set up a chain of Firestone retail stores to sell its tires to American consumers.This is an example of:

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

Managers should attempt to collect and use all available information in the organization's planning process.Which of the following aspects of planning is being emphasized?

A written set of instructions which describes the series of actions that a manager should take in a specific situation is known as a: