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Exam 7: Strategy and Strategic Management: Insight and Hard Work Deliver Results

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Question 31

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Coca-Cola promises to put a Coke within an arm's reach of every consumer in the world. This could be considered a statement of __________.*

A) strategic intent
B) strategy
C) competitive advantage
D) global positioning

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Question 32

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A(n) __________ is a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish its goals.

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Question 33

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__________ refers to the ability to perceive situations, gather and interpret relevant information, and make decisions.

The web-based business model of infomediary brings buyers and sellers together for online business transactions and taking a percentage from the sales.

A mission statement includes specific goals that the organization wants to achieve.

A functional strategy provides long-term direction for the total enterprise.

Which of the following is NOT a growth strategy?

A(n) __________ strategy seeks the lowest costs of operations within a special market segment.

Business strategies should support business goals.

The recommendation of the BCG matrix on question marks is retrenchment or __________.*

The process of strategic management focuses only on developing strategies.

A __________ protects an insolvent firm from creditors during a period of reorganization to restore profitability.

A(n) __________ strategy is one that guides activities within a specific area such as engineering and marketing.

The shorter-term guides to action under the mission statement are called __________.

Porter suggests that industry attractiveness is a function of five forces, including:*

Define the difference between a competitive advantage and a sustainable competitive advantage.

A strategy for expanding an organization's business is called a __________ strategy.

__________ are special strengths of an organization and give the organization a competitive advantage.

In a large company, a strategy that sets the long-term direction for the entire company is called a __________ strategy.

With the release of its iPad, Apple was the first to market an innovative product by linking design, technology, and customer appeal. As such, the iPad offers Apple a sustainable competitive advantage.