Exam 9: Managing Strategically

The Duracell division of Gillette is the dominant producer of alkaline batteries worldwide. Demand for alkaline batteries continues to thrive as consumers embrace a growing number of portable digital electronic products. According to the BCG matrix, Duracell is a __________.

A turnaround strategy is a type of renewal strategy used when an organization is in serious trouble.

Strategic management consists of the decisions and actions that determine the long-run performance of the organization.

According to Michael Porter's competitive strategies framework, a company using a focus strategy seeks to offer a unique product to a broad target market by focusing on a specific product attribute such as exceptionally high quality or extraordinary service.

Refer to the scenario below to answer the following questions. SWOT Analysis (Scenario) Terri has been asked to review her company's strategy in the cosmetics industry. Top management wants to ensure that they are aware of emerging trends and changes. Terri began reviewing a list of factors in her mind. Recently, there has been some negative publicity about cosmetics testing on animals; an industry practice that has become very controversial and increasingly unacceptable to consumers. The laboratory animals at Terri's company are well treated, but they are still used to test new products. On a positive note, industry-wide sales are up 10 percent. Women are buying more cosmetics in general, which is good news for the company. Another positive factor is their personnel. They have many good people working in the company, particularly in research and development where the expertise is exceptional. The only other negative factor noted by Terri was that last year's advertising campaign had not achieved the desired results. Something needed to be done in that department. Terri began to compile her report. -The controversy and negative publicity associated with cosmetics testing on animals would be classified as a(n) __________.

Switching costs and buyer loyalty are examples of strategic forces that determine the __________.

In horizontal integration, the organization attempts to gain control of its inputs by becoming its own supplier.

How can an organization develop strategic flexibility?

A strong organizational culture may act as a significant barrier to accepting any changes in the organization's strategies.

The distinct edge that sets an organization apart from its competitors is called a __________.

"At IBM, we recognize individual differences and appreciate how these differences provide a powerful competitive advantage and a source of great pride and opportunity in the workplace and marketplace." This statement relates most closely to which component of a mission statement?

Florance is a chain of flower shops in the Toronto area. The company recently acquired Knick-knacks, which owns three gift shops. Which of the following is most similar to this acquisition?

Over the last century, the Campbell Soup Company has expanded by acquiring other packaged consumer food companies such as Pace, V8, Pepperidge Farms, Swanson, and Godiva Chocolatiers. Campbell was pursuing which corporate strategy?

Refer to the scenario below to answer the following questions. Clubhouse Gourmet -A- (Scenario) Imagine that you are the president of Clubhouse Gourmet, a successful chain of fast-food restaurants with 60 locations across Canada. The success you have experienced in the last five years has you considering various options about what to do next with the business. Should you continue to expand the business at the current rate? Or perhaps open new and different restaurants? What should you do? -With the acquisition of Sandwich King, you now have more than 100 restaurant locations across Canada. The bread suppliers that you have been using are unable to keep up with demand in some markets, so you decide to purchase a wholesale bakery that is large enough to provide a secure supply of fresh bread to your busiest restaurants. Purchasing the bakery is an example of which strategy?

__________ are positive trends in external environmental factors, while __________ are negative trends.

At which step of the strategic management process do managers identify opportunities and threats?

"At HBC, we have a tremendous sense of responsibility, not only to the continued growth and success of our company, but also to the nation that we have been instrumental in building. Our culture is grounded in a commitment to take into account the social needs and issues impacting the communities where we do business." This statement relates most closely to which component of a mission statement?

Which of the following is a first-mover advantage?

Since Internet technology is now so universally accessible, it can no longer contribute to the development of a sustainable competitive advantage for any particular organization.

Organizational strategy is based on the mission and goals of the organization and the roles that each business unit in the organization will play.