One of the steps of the SWOT Matrix is to list the firm’s key external opportunities.
Many organizations mistakenly spend more time and effort on the implementation of a
plan, than on the formulation of the plan itself.
Union Pacific’s mission statement focuses on transportation rather than on railroads
because good mission statements identify the utility of a firm’s products to its
customers.
Strategists should try to cover all bases by planning for all possible contingencies.
Corporate intelligence can be defined as a systematic and ethical process for gathering
and analyzing information about the competition’s activities and general business trends
to further a business’s own goals.
Measuring organizational performance requires making changes to reposition a firm
competitively for the future.
People’s anxieties are raised with the thought of change because they fear economic
loss, inconvenience, uncertainty, and a break in normal social patterns.
The various opportunities and threats that face multinational corporations are almost
limitless, and the number and complexity of these factors ________ the number of
products and the number of geographic areas served.
A) decrease dramatically with
B) drastically increase with
C) drop slightly with
D) are constant despite
E) are unaffected by
________ plans can be defined as alternative plans that can be put into effect if certain
key events do not occur as expected.
A) Agile
B) Scenario
C) Evaluation
D) Contingency
E) Forecast
What is the best divisional structure when a few major customers are of paramount
importance and many different services are provided to these customers?
A) By geographic area
B) By customer
C) By product
D) By process
E) By cost
Which of these strategies is effective when the number of suppliers is small and the
number of competitors is large?
A) Conglomerate diversification
B) Forward integration
C) Concentric diversification
D) Backward integration
E) Horizontal diversification
________ become(s) ________ only when evaluated, filtered, condensed, analyzed, and
organized for a specific purpose, problem, individual, or time.
A) Information; data
B) Information; material
C) Data; information
D) Data; competitive advantages
E) Competitive advantages; material
The fact that Apple has no manufacturing facilities of its own
A) has caused it to build up massive debt on its balance sheet.
B) has enabled it to remain financially lean with virtually no long-term debt.
C) has been problematic for Apple in terms of debt.
D) illustrates that having more fixed assets than rival firms can provide major
competitive advantages in a global recession.
E) means that it is in the same position as Sony.
________ is a set of standards in fields such as environmental auditing, performance
evaluation, and labeling, that is adopted by thousands of firms worldwide to certify to
their constituencies that they are conducting business in an environmentally friendly
manner.
A) ISO 14001
B) EMS 14000
C) UN 5000
D) SEC 100
E) A sustainability report
According to Rumelt, the final broad test of strategy is its
A) advantage.
B) feasibility.
C) consonance.
D) consistency.
E) distinctiveness.
Unpublished sources of external strategic information include all of the following
EXCEPT
A) abstracts.
B) customer surveys.
C) market research.
D) speeches at professional and shareholders’ meetings.
E) conversations with stakeholders.
It is ________ for a business to provide a sustainability report annually to the public.
A) good business
B) irresponsible
C) a decreasing trend
D) unethical
E) poor planning
In South Korea, activities involve concern for ________, or harmony based on respect
of hierarchical relationships, including obedience to authority.
A) guanxi
B) inhwa
C) feng shui
D) nemaswashio
E) Wa
A disagreement between two or more parties on one or more issues is called a(n)
A) integrated solution.
B) conflict.
C) compromise.
D) diffusion.
E) avoidance.
Intensity of competition ________ in lower-return industries.
A) is lowest
B) is nonexistent
C) is highest
D) is not important
E) fluctuates
Which strategy is effective when new, but related, products could be offered at highly
competitive prices?
A) Forward integration
B) Related diversification
C) Backward integration
D) Conglomerate diversification
E) Unrelated diversification
If success for one organizational department means failure for another department, then
strategies may be
A) synergistic.
B) advantageous.
C) trendy.
D) feasible.
E) inconsistent.
Do you agree or disagree that firms need a Corporate Intelligence (CI) program?
Discuss.
Explain some of the forces leading companies to pursue international operations.
Describe a sustainability report.
Discuss the different perspectives and concerns of the Balanced Scorecard.
List and define the major components of an effective mission statement.
Discuss some of the reasons why strategy evaluation is becoming increasingly difficult
with the passage of time.
There are four basic ways a divisionally structured firm could be organized. What are
these four ways? Give an example of each.
Explain the resource-based view and its relation to strategic management.
Discuss union membership across Europe.