Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
107. People need to understand how their individual actions can contribute to achieving an organizational strategy. This
can be accomplished by delegating authority, creating teams, and defining roles. These actions are part of which tool for
putting strategy into action?
a.
Visible leadership
b.
Candid communication
c.
Human resources
d.
Clear roles and accountability
e.
Bargaining power of employees
108. The _____ function recruits selects, trains, transfers, promotes, and lays off employees to achieve strategic goals.
a.
production
b.
leadership
c.
information and control systems
d.
structural design
e.
human resource
Scenario - Theresa Teutul
Theresa Teutul was an executive with Digital Industries, a leading manufacturer of color televisions. She recognized that
the color television market in the late 1970's was facing significant challenges. After two decades of highly successful
development and marketing, the sales of color televisions had slowed and replacing older color television sets largely
created her market.
109. Using the logic of the BCG grid, Theresa should recognize that her strategic business unit was in which quadrant?
a.
Star
b.
Cash Cow
c.
Question Mark
d.
Dog
e.
None of these
110. The strategy that the BCG matrix suggests that Theresa should take for this SBU is:
a.
invest and grow.
b.
liquidate while still profitable.
c.
ask her astrologer for advice.
d.
keep the SBU healthy and use its excess earnings to invest in other SBU's.
Scenario - SS.com
Faced with rapidly growing business, Swift Stocks, Inc., a global brokerage company with the largest market share,
recently announced that it has established an on-line stock investment and trading subsidiary, SS.com, where investors can
trade stocks at the lowest rates in the industry. The .com subsidiary has less than one percent market share but it faces a
very high business growth rate. In the brokerage industry the competition is fierce and all players are cutting their on-line
commission rates.
111. Swift Stock's traditional brokerage business could be classified as a _____.
a.
cash cow
b.
dog
c.
star
d.
question mark
e.
stuck in the middle business
112. SS.com subsidiary for Swift Stocks can be classified as a _____.
a.
cash cow
b.
dog
c.
star
d.
question mark
e.
stuck in the middle business
113. If Swift Stock's traditional brokerage business were to face a declining business growth, it may need to be
reclassified as a _____.
a.
cash cow
b.
dog
c.
star
d.
question mark
e.
dead business
114. Swift Stock is following which strategy, according to Porter, through the .com subsidiary?
a.
Stability
b.
Cost leadership
c.
Focus
d.
Differentiation
e.
Retrenchment
115. _____ is the set of decisions and actions used to formulate and implement strategies that will provide a competitively
superior fit between the organization and its environment so as to achieve organizational goals.
116. The plan of action that prescribes resource allocation and other activities for dealing with the environment and
helping the organization attain its goals is called a(n) _____.
117. A business activity that an organization does particularly well relative to its competition is known as a(n) _____.
118. When organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone,
_____ occurs.
119. The question What business are we in? concerns the _____ strategy.
120. The question How do we compete? concerns _____ strategy.
121. The question How do we support the business-level competitive strategy? concerns _____ strategy.
122. _____ includes the planning and decision making that lead to the establishment of the firm's goals and the
development of a specific strategic plan.
123. The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as
_____.
124. _____ is a type of corporate-level strategy that pertains to the organization's mix of strategic business units.
125. In the BCG matrix, the dog has _____ market share and _____ business growth rate.
126. In the BCG matrix, the star has a(n) _____ market share in a rapidly growing industry.
127. The acquisition of a business that is related to current product lines or that takes the corporation into new areas is
called _____.
128. The _____ strategy involves an attempt to distinguish the firm's products or services from others in the industry.
129. With a(n) _____ strategy, the organization aggressively seeks efficient facilities, pursues cost reductions, and uses
tight cost controls to produce products more efficiently than competitors.
130. With a(n) _____ strategy, the organization concentrates on a specific regional market or buyer group.
131. The standardization of product design and advertising strategies throughout the world is called _____.
132. When an organization chooses a(n) _____ strategy, it means that business decisions such as product design are made
on a country-by-country basis.
133. A(n) _____ strategy seeks to achieve both global integration and national responsiveness.
134. The ability to influence people to adopt the new behaviors needed for strategy implementation is called _____.
135. It is argued that _____ is the most difficult and most important part of strategic management.
136. List the four components of a SWOT analysis.
137. List the three global corporate strategies.
138. In order for companies to remain competitive, their strategies must focus on three things. Describe these three
focuses.
139. Compare and contrast the three levels of strategy in an organization.
140. Differentiate between strategy formulation and strategy implementation.
141. Briefly describe the Boston Consulting Group matrix, including its dimensions, quadrants, and strategic
recommendations.
142. Briefly discuss Porter's three competitive strategies.
143. Name and describe the three types of global strategies.
144. Briefly describe the tools for putting strategy into action.
145.
Strategic management is one type of planning, and it largely determines which organizations thrive and which
ones struggle. It is the decisions and actions used to formulate and implement strategies that will give an
organization a competitive advantage and enable it to reach its goals. Choose some type of business or specific,
real-world organization, and start to develop a strategy for its long-term growth. Write a short essay that
summarizes the components of strategic management that the organization needs to use, and provide examples
of strategic plans and/or goals at the three organizational levels that would allow the organization to reach its
objectives.
146.
Strategy formulation begins with understanding the issues that require managers to assess those factors that influence the
company's ability to compete. Choose one of the following types of organizations: a fast-food chain, a clothing
manufacturer, a communications device manufacturer or service provider, or an automobile manufacturer. Perform a
SWOT analysis on the company of your choice, using what you know about the company to list at least three strengths,
three weaknesses, three opportunities, and three threats.
147. Three frameworks for corporate-level strategy are portfolio, the BCG matrix, and diversification. Write a short essay
that explains each approach to corporate-level strategy. Be sure to give your assessment of whether these approaches
create synergy in an organization. Finally, identify which of the three approaches you think is most valid, and explain
your rationale for your choice.
148.
Managerial dilemmas are unique to organizations that operate globally, and therefore, strategic management must also be
unique. Write a short essay that compares and contrasts globalization, multidomestic, and transnational strategies. Discuss
the factors that you feel would determine which strategy should be used.
149.
Winning strategies need to be executed. Once a strategy is understood and accepted in the organization (embedded),
managers can use some primary tools to ensure that the strategy is implemented effectively. In a short essay, explain:
visible leadership, clear roles and accountability, candid communication, and appropriate HR practices. Develop a
persuasive argument for or against the importance of soliciting employee cooperation in order for an organizational
strategy to be successfully executed.
