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Exam 6: Entrepreneurship and New Ventures

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Question 31

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

A) restructuring strategy
B) stability strategy
C) retrenchment strategy
D) growth strategy

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Question 32

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All of the following are growth strategies EXCEPT:

A) concentration.
B) diversification.
C) vertical integration.
D) restructuring.

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Question 33

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The __________ model of web-based business involves providing free listings from online merchants for directing potential customers to them.

A focused differentiation strategy is when you compete by selling products at lower prices than your competitors.

A SWOT analysis includes a detailed examination of an organization's strengths and weaknesses.

A(n) ______________ is a comprehensive action plan that identifies long-term direction for an organization.

Which of the following terms refers to the process of formulating and implementing strategies to accomplish long-term goals and maintain a competitive advantage?

Which of the following is an example of a strategic question for a functional strategy?

Strategic leadership inspires people to implement organizational strategies.

The electronic version of the basic retail strategy of selling directly to customers is known as a __________.

When a company expands by entering new business areas, it is called growth through __________.

What is the difference between a globalization strategy and a transnational strategy?

A strategy with the objective of correcting performance difficulties in a business through radical changes to current operations is called a _________ strategy.

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

A __________ views the world as one market and uses standardized products and advertising worldwide.

How does a differentiation strategy help in gaining competitive advantage?

__________ is the strategic use of the Internet to engage customers and potential customers in providing opinions and suggestions on products and their designs.

__________ makes sure strategies are well implemented and that poor strategies are scrapped or changed.

A strategic leader must do all of the following EXCEPT:

__________ is the process of crafting strategy to fit mission and strategic intent, objectives, and environmental conditions.