Exam 9: Strategic Planning: Strategies, Tactics, and Competitive Dynamics

Kreme Industries has an SBU Kreme Makeups,Inc.,that offers a wide variety of makeup products and accessories for women.Although market growth rate is high,the SBU's current market share is low and it needs substantial investment.The parent company is trying to decide if Kreme Makeups has long-term sustainability before investing any more cash in it.In the context of the BCG matrix,this SBU of Kreme Industries would be classified as a ________.

Free

(Multiple Choice)

4.8/5

(69)

Question 1

Correct Answer:

Verified

Which of the following sentences about the differences between strategic planning and tactical planning is true?

Free

(Multiple Choice)

4.8/5

(90)

Question 2

Correct Answer:

Verified

What is competitive dynamics? Briefly describe the factors that influence a firm's action or reaction?

Free

(Essay)

4.9/5

(72)

Question 3

Correct Answer:

Verified

Competitive dynamics refers to the process by which firms undertake strategic and tactical actions and how competitors respond to these actions.The study of competitive dynamics is important in order to understand why managers undertake such actions.Inevitably,it is these actions and reactions that influence a firm's ultimate financial performance.
Research suggests that three primary factors influence a firm's action or reaction: awareness,motivation,and capability.Competitor awareness refers to how mindful a company is of its competitor's actions.Competitor motivation refers to the incentives that an organization has to take action.Competitor capability refers to a firm's ability to undertake an action.

Strategic management is the process of ensuring an organization possesses and benefits from the use of an appropriate organizational strategy.

(True/False)

4.9/5

(69)

Question 4

What is the BCG Growth-Share Matrix? Explain what stars,question marks,cash cows,and dogs are.According to the BCG Growth-Share Matrix,what should managers do with each of these?

(Essay)

4.9/5

(90)

Question 5

Dun's Burgers has decided to open takeaway counters across the city that will be open until 11 p.m.to cater to people who return late from work.This turns out to be an excellent strategy as Dun's becomes a hot favorite with the people who work late shifts.This is an example of ________.

(Multiple Choice)

4.9/5

(76)

Question 6

In an attempt to offer better deals to customers and thereby increase its market share,Dun's Burgers integrates backward to buy out its main supplier of beef.Dun's Burgers is using which of the following strategies to attract customers?

(Multiple Choice)

4.9/5

(91)

Question 7

In a retrenchment strategy,managers attempt to ________.

(Multiple Choice)

5.0/5

(76)

Question 8

________ refers to the process by which firms undertake strategic and tactical actions and how competitors respond to these actions.

(Multiple Choice)

4.9/5

(67)

Question 9

The level of an organization's external environment that contains components normally having relatively specific and immediate implications for managing the organization is the ________.

(Multiple Choice)

4.9/5

(74)

Question 10

One of the SBUs under the Retro Group of companies is not generating a satisfactory amount of business.Extensive analysis shows that the company is losing its market share because its competitors have more sustainable processes.Analysts also feel that the growth prospects in this industry are extremely limited.Which of the following organizational strategies should the company adopt?

(Multiple Choice)

4.9/5

(95)

Question 11

Which of the following is true about a cash cow?

(Multiple Choice)

4.8/5

(69)

Question 12

The ________ component is that part of the general environment that indicates how resources are being distributed and used within the environment.

(Multiple Choice)

4.8/5

(79)

Question 13

The last step of the strategic management process,consisting of monitoring and evaluating the strategic management process as a whole,is ________.

(Multiple Choice)

4.7/5

(90)

Question 14

In strategic planning,managers consider the organization as a total unit and ask themselves what must be done in the long term,which is usually ________.

(Multiple Choice)

4.7/5

(87)

Question 15

Because tactical plans are based primarily on a prediction of the future,and strategic plans are based on known circumstances that exist within the organization,tactical plans are generally less detailed than strategic plans.

(True/False)

5.0/5

(84)

Question 16

What are the main strategy formulation tools of strategic management?

(Essay)

4.9/5

(85)

Question 17

________,the fourth step of the strategic management process,is putting formulated strategies into action.

(Multiple Choice)

4.9/5

(85)

Question 18

A broad and general plan developed to reach long-term organizational objectives is a(n)________.

(Multiple Choice)

4.8/5

(88)

Question 19

Compare and contrast strategic and tactical planning.

(Essay)

4.9/5

(74)

Question 20

Showing 1 - 20 of 90

Which of the following sentences about the differences between strategic planning and tactical planning is true?

What is competitive dynamics? Briefly describe the factors that influence a firm's action or reaction?

Strategic management is the process of ensuring an organization possesses and benefits from the use of an appropriate organizational strategy.

What is the BCG Growth-Share Matrix? Explain what stars,question marks,cash cows,and dogs are.According to the BCG Growth-Share Matrix,what should managers do with each of these?

Dun's Burgers has decided to open takeaway counters across the city that will be open until 11 p.m.to cater to people who return late from work.This turns out to be an excellent strategy as Dun's becomes a hot favorite with the people who work late shifts.This is an example of ________.

In an attempt to offer better deals to customers and thereby increase its market share,Dun's Burgers integrates backward to buy out its main supplier of beef.Dun's Burgers is using which of the following strategies to attract customers?

In a retrenchment strategy,managers attempt to ________.

________ refers to the process by which firms undertake strategic and tactical actions and how competitors respond to these actions.

The level of an organization's external environment that contains components normally having relatively specific and immediate implications for managing the organization is the ________.

Which of the following is true about a cash cow?

The ________ component is that part of the general environment that indicates how resources are being distributed and used within the environment.

The last step of the strategic management process,consisting of monitoring and evaluating the strategic management process as a whole,is ________.

In strategic planning,managers consider the organization as a total unit and ask themselves what must be done in the long term,which is usually ________.

Because tactical plans are based primarily on a prediction of the future,and strategic plans are based on known circumstances that exist within the organization,tactical plans are generally less detailed than strategic plans.

What are the main strategy formulation tools of strategic management?

________,the fourth step of the strategic management process,is putting formulated strategies into action.

A broad and general plan developed to reach long-term organizational objectives is a(n)________.

Compare and contrast strategic and tactical planning.

Introducing Modern Management

Managing

Managers and Society

Management and Diversity

Managing in the Global Arena

Management and Entrepreneurship

Principles of Planning

Making Decisions

Fundamentals of Organizing

Responsibility, Authority, and Delegation

Human Resource Management

Organizational Change: Stress,Conflict and Virtuality

Influencing and Communication

Leadership

Motivation

Groups and Teams

Managing Organization Culture

Encouraging Creativity and Innovation

Controlling, Information, and Technology

Production and Control

Filters