Exam 6: Planning, Strategy, and Competitive Advantage

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.

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

An advantage of the differentiation strategy is:

The least complex global operation is _____________.

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 only one central,guiding plan is put into operation to achieve an organizational goal,the organization is experiencing ________________.

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:

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.

Industries that are characterized by permanent,ongoing,intense competition brought about by advancing technology or changing customer tastes,fads,and fashions are an example of:

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

The form of international expansion which gives an organization high potential return because the organization does not have to share its profits with a foreign organization,and it reduces the level of risk because the organization's managers have full control over all aspects of their foreign company's operations is:

BMW produces cars exclusively for high-income customers.BMW is pursuing a ______________ strategy.

Managers of Matrix Ltd. ,attempted to give the organization a competitive advantage by driving the production costs to as low a level as possible.We can say that the organization is pursuing a differentiation strategy.

The corporate-level strategy that becomes appropriate when managers see the need to reduce the size of their organizations to increase performance is ____________.

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.

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.

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?

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 ______________ corporate-level strategy.

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

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.