Exam 3: Planning and Strategic Management

You are thinking of buying a tortilla factory in a nearby city.This action would be an example of ________.

The breadth of a plan refers to ________ concerns.

A politician whose ultimate goal is to get elected is planning campaign ads for TV.In planning the ads,the politician is functioning at a ________ level.

There is a growing trend in your community.People are trying to reduce sodium and fat in their diets.You've also heard news reports about potential legislation to govern sodium and fat levels in fast food like tacos.With so much information you're uncertain what to do.Which analysis tool will be the best to help you consider these trends logically and develop strategies?

The sole proprietor of The Window Doctor realizes that should something unforeseen affect his health and prevent him from working actively in his business,his goals may not be realized.He begins to consider alternatives to ensure the business continues in his absence.This demonstrates ________.

In order to ensure that prices at Penny Pincher remain well below their competition,managers at Penny Pincher regularly review the best practices and pricing policies of other grocery stores.They then use this information to improve upon their current plans.Which planning tool are the Penny Pincher managers using?

Compared to goals,objectives are ________.

Core competencies include an organization's major capabilities and its resources.

List and discuss two reasons for planning.

In reality,all organizations have ________.

Formal planning typically leads to which of the following?

One criticism of formal planning is that it focuses on how to beat the competition rather than how to ________.

A salad dressing company buys a large olive grove.The olive grove produces olive oil,a key ingredient in many salad dressings.The salad dressing company is practicing which of the following?

For a limited time,Taco Rocket is thinking of coming out with a new Fifth Degree Burrito that is so hot it "burns a hole in the plate." Catering to the small segment of the market that likes super-hot food is an example of a ________.

Explain the cost leadership strategy according to Michael Porter.

An athletic shoe company creating its own stores where it sells only its own brand is an example of which of the following?

Two movie studios combining to form one larger studio is an example of which of the following?

Two companies that both sell fine time pieces combine.What are they doing?

SWOT analysis identifies and analyzes an organization's ________.

In forward vertical integration,a company becomes its own ________,while in backward integration the company is its own ________.