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Exam 5: Strategies in Action

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Question 21

Multiple Choice

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Retrenchment would be an effective strategy when an organization

A) has shrunk so quickly that major internal reorganization is needed.
B) is one of the stronger competitors in a given industry.
C) is plagued by inefficiency, low profitability, poor employee morale and pressure from stockholders to improve performance.
D) has decided to capitalize on opportunities, maximize threats, take advantage of strengths and overcome weaknesses.
E) does not have a clearly distinctive competence and has failed to meet its objectives and goals consistently over time.

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Question 22

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Which of the following is NOT a reason joint ventures fail?

A) Managers who must collaborate daily in operating the venture are not involved in forming or shaping the venture.
B) The venture may not be supported equally by both partners.
C) The venture may benefit the partnering companies but may not benefit the customers who then complain about poorer service or criticize the companies in other ways.
D) Stakeholders from both partners are equally satisfied.
E) The venture may begin to compete more with one of the partners than the other.

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Question 23

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Product development is an appropriate strategy when an organization has successful products that are in the maturity stage of the product life cycle.

Cooperative arrangements and joint ventures are being used increasingly.

A cost leadership strategy can be especially effective when most buyers use the product in the same ways.

List some guidelines for when market development would be a particularly good strategy to pursue.

Bankruptcy

Strategic objectives include larger market share, quicker on-time delivery than rivals, shorter design-to-market times than rivals, lower costs than rivals, and wider geographic coverage than rivals.

Unrelated diversification is an appropriate strategy when an organization's present channels of distribution can be used to market the new products to current customers.

Unrelated diversification may be an especially effective strategy when an organization's basic industry is experiencing increasing annual sales and profits.

A differentiation strategy can be especially attractive when the industry has many different niches and segments, thereby allowing a focuser to pick a competitively attractive niche suited to its own resources.

Stockton, a city in California, declared Chapter 9 bankruptcy in 2012 to avoid having to close key functions such as their police and fire departments.

Liberty Media Corp. selling its Starz television network is an example of which type of strategy?

Under which strategy would you offer products or services to a wide range of customers at the lowest price available on the market?

Define and give an examples of three intensive strategies.

"If it ain't broke, don't fix it" refers to managing by crisis.

Jiffy Lube International would be a good example of a firm seeking the best-value focus strategy.

Today McDonald's owns about ________ percent of its restaurants.

Compare and contrast the five types of bankruptcy: Chapters 7, 9, 11, 12 and 13.

Under which condition would a cost leadership strategy be especially effective?