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Exam 8: Strategic Management

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Question 1

Multiple Choice

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For a small organization in only one line of business, the competitive strategy simply describes ________.

A) how the company will compete in its main market
B) the customers it wants to reach
C) its competitive advantage
D) what products or services it will offer

E) None of the above
F) A) and B)

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Question 2

Multiple Choice

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When PepsiCo seeks to integrate the strategies of Pepsi, 7-Up International, and Frito-Lay, it is developing what level of business strategy?

A) Corporate
B) System
C) Functional
D) Management

E) All of the above
F) A) and D)

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Question 3

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If Burger King were to buy out other burger restaurants, Burger King would be growing by vertical consolidation.

Functional-level strategy directly supports ________.

Nahar Gift Shop (Scenario) Nisreen has just won the equivalent of $60,000 in a talent competition. Subsequently, she decides to start her own business and opens a gift shop. -Nisreen decides that she wants to produce some of the items she sells. She decides that she wants her business to develop a distinctive edge in producing high-quality items. This emphasis on quality is to be so strong that her company will have a ________ that will set her company apart from her competition.

Heavy investment in ________ will help take advantage of the market's growth and help maintain high market share.

Diversification is an example of a corporate retrenchment strategy.

Stars, one of the four business groups in the corporate portfolio matrix, are characterized by low growth and low market share.

An organization is said to have ________ when it has several different businesses that are independent and that formulate their own strategies.

The ________ should be sold off or liquidated as they have low market share in markets with low growth potential.

To a degree, an organization's commitment to quality and continuous improvement can differentiate it from competitors, but constant improvement and reliability of an organization's products and/or services may result in a competitive advantage that is ________.

Innovation strategies should reflect the organization's philosophy about innovation, which is shaped by ________.

A New Business (Scenario) Bassam majored in entrepreneurship and computer science in college. After graduation, he decided to start his own business as an e-business entrepreneur, founding an online B2B reverse auction company called CompuSave. -After hiring several employees, Bassam requires that each person in this company be involved in studying trends involving new technology, competitors, and customers. These employees are involved in ________.

When an organization attempts to combine with other organizations in different, but associated industries, the strategy is known as a ________ strategy.

The first organization to bring a product or service to market is often referred to as the ________.

How can a cost leader use e-business to reduce costs?

If a bank estimates the capabilities of its training and development department employees prior to implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process?

In the BCG matrix, a ________ does not consume or produce much cash and holds little or no improved performance.

In a short essay, discuss the concept of competitive advantage. Include specific examples of companies and their respective competitive advantages to support your answer.

What is a strategic design for how a company intends to profit from its strategies, work processes, and work activities?