63.
A 2013 survey found that among managers, the use of _____ is popular.
64.
To provide direction and momentum, encourage new ideas, and develop a sustainable
competitive advantage are reasons why an organization should adopt _____.
65.
When an organization is able to get and stay ahead in the four areas of (1) being responsive
to customers, (2) innovating, (3) quality, and (4) effectiveness, that company can develop
____.
66.
According to Harvard Business School professor Michael Porter, strategic positioning means
_____ to achieve sustainable competitive advantage.
67.
Strategic position emerges from three sources: _____.
68.
Instructor Services is a technology company that offers many IT services in highly populated
southern Ohio. Services and products include computer training, support, monitoring, repair,
network design, virus removal, and software upgrades. It even sells refurbished computers.
The source of Instructor Services’ strategic position is _____.
69.
With small businesses in very competitive industries, small differences in performance may
affect that company’s survival. So in this case, it is worth the effort to implement _______.
70.
Tom is the CEO of Yost Tech, a large global manufacturing company, and he is having lunch
with a longtime friend, Greg, owner of a small office supply store. Tom told Greg that
“Strategic management and planning have really increased our success at Yost. I just read an
article about an analysis of several studies that found that strategic management and planning
_____.”
71.
One report reads that big companies, such as Amazon, Google, or Apple, “are no longer
content simply to enhance part of your life. The new strategy is to build a device, sell it to
consumers, and then ____.”
72.
In the strategic-management process, the final step, maintaining strategic control, is the
source of _____.
73.
In order, the steps of the strategic-management process are _____.
74.
The second step in the strategic-management process is to look at where the organization
stands and see what is working and what could be different to maximize efficiency and
effectiveness in achieving the organization’s mission. This step is the process of completing
a(n) _____.
75.
Ben attended a workshop hosted by SCORE, a SBA organization that counsels small-
business owners on developing a good vision statement. In that workshop the speakers
discussed how an organization’s vision needs to describe _____.
76.
Who are our customers? What are our major products or services? In what geographic areas
do we compete? These are all questions that are answered in a good _____.
77.
Is it appropriate for the organization and for the times? Does it set standards of excellence and
reflect high ideals? Is it ambitious? These are all questions that are answered in a good
_____.
78.
The growth, stability, and defensive strategies are ____.
79.
Access Office Equipment has shifted to sales and service of laptops and PCs, and is no longer
offering repairs on older types of office equipment because the demand for service on this
equipment is low, costly, and the profits have dropped significantly. This is an example of an
organization implementing a ______.
80.
Organic Foods International has decided to increase its market share by hiring a marketing
rep to visit businesses in the area and invite their employees to shop at Organic Foods and for
monthly health events. The store also hired two new employees to handle the anticipated
increase in customer traffic. Organic Foods is utilizing a _____.
81.
Delux Technology has a reputation of reliability and winning customer service, building this
highly respected name brand over the last 15 years. As a speaker at a business conference,
Steve, the CEO of Delux, told his audience that “We have built our reputation by changing little
over the last several years, but consistently helping customers with great, caring service and a
reliable product.” Delux Technology utilizes a ____.
82.
Over the course of 40 years, Sal grew his company to six package shipping stores. With his
retirement approaching and the increased competition, he decided to reduce the number of
locations to two. Sal’s reduction of effort represents a _____.
83.
A defensive strategy is also known as a(n) _____.
84.
Strategy formulation is the process of _____.
85.
Rashid, the CEO of Top Productions, was telling his new vice president of accounting that “In
the past I had resistance to new ideas by people who felt that one of our plans threatens their
influence or jobs. So when you tell your collections department that we just hired a collection
agency to handle bad debt, you may have to sell your collections manager and his supervisors
on using the agency and that nobody is going to be laid off.” Selling middle and supervisory
managers on changes to overcome their resistance is often a necessary part of _____.
86.
Strategic control includes ____.
87.
Bryan Barry suggests that to keep a strategic plan on track, organizations should ____.
88.
George, a chef and owner of a popular restaurant, is always visiting his competition to observe
how they are doing things in their restaurants. He told one of his managers that “I do this
because I want to know what is going on. I am always concerned that one of our competitors
will surprise us with a new service or menu item like us, but better.” George is utilizing ___.
89.
Pedro, CEO of a successful IT company, is constantly reading press releases, ads, and news
articles about his competition, and he regularly checks information about new competitive
products and visits trade shows to study his competition. Pedro is involved in ____.
90.
Sue keeps a close eye on her company’s internal and external environment to discover
possible opportunities for new products and threats from competition, as soon as possible.
This is an example of ____.
91.
A SWOT analysis is _____.
92.
Many customers shop at Organic Foods because of the employees’ extensive product
knowledge. This is an example of the company’s _____.
93.
Don knows that one of the reasons people do not return to his electronics store is because of
the slow service. This is an example of the organization’s _____.
94.
Christopher’s Restaurant and Catering serves delicious vegetarian and vegan dishes. So
when the local community became interested in eating a healthier diet, Christopher’s
benefited. The changing community attitudes are an example of a(n) _____ for Christopher’s.
95.
The owners of Smith’s Yard Mart, a family-owned garden center in a rural community, is
concerned over the news that a large retailer with a garden center is building a new store on
the other side of town. This new retailer is a(n) ____ for Smith’s.
96.
Regarding the findings from a SWOT analysis, organizational strengths are ____.
97.
Regarding the results of a SWOT analysis, organizational opportunities are ____.
98.
A forecast is a(n) _____.
99.
Contingency planning is also known as _____.