Topic: Contingency planning
100.
The basic assumption that the picture of the present can be projected into the future is the
basis of a _____.
101.
Sales this year at Donna’s Pawn Shop have been high, and based on several factors, Donna
projects next year’s sales to also be good. However, even with her forecast of continued
strong sales, Donna and her partner need to develop a plan in case sales drop unexpectedly.
This type of planning for alternative future conditions is known as ____.
102.
The process by which a company compares its performance with that of high-performing
organizations is known as ___.
103.
Michael Porter proposed that business-level strategies originate with the primary competitive
forces in the firm’s environment; these forces are _____.
104.
Tom and his family have developed a successful business selling fertilizer to other farmers in
his area, consisting of rich, organic compost material. Recently ABC Seed, a national seed
company, has been marketing a chemical fertilizer to his customers that is less expensive than
Tom’s product. ABC’s efforts are an example of ___ in Porter’s model for industry analysis.
105.
Porter’s competitive strategies of cost-leadership and differentiation focus on ____ markets,
and the cost-focus and focused-differentiation strategies focus on ____ markets.
106.
When organizations endeavor to keep their costs, and hence prices, of their products or
services below those of competitors and to target a wide market this is a _____ strategy.
107.
Organic Market sells high-quality products and grocery items that are unique to their area; in
addition it offers delivery for customers who are unable to leave their home and a number of
regular workshops regarding eating healthy. By offering these types of products and services,
Organic Market is pursuing a _____ strategy.
108.
Mountain Rescue Incorporated sells emergency safety and rescue products to ski patrols and
rescue workers at prices that are below those of its competitors, who offer a larger line of
products and focus on broader markets. Mountain Rescue Incorporated is pursuing a ____
strategy.
109.
ABC Office Supply in Dayton sells high-quality, unique pens that are a real value to executives
in the area. No other company in its area markets pens of such quality and value. By offering
this type of product, ABC Office Supply is an example of a company utilizing a _____
strategy.
110.
ABC Technology makes and sells only one product, a high-quality processor for mainframe
computers, within its market, Silicon Valley, California; ABC utilizes a _____ strategy.
111.
Quality Services is an organization that operates several companies that market food
products, restaurant equipment, and paper and plastic products, and it even has a division that
counsels restaurant owners, helping them become established. Quality Services is involved in
a _____ strategy.
112.
When an organization operates several businesses to spread the risk, such as a landscaping
company that offers not only landscaping services but also lawn care, snow removal, and
other services, that business is utilizing a ____ strategy.
113.
Doug is the CEO of Johnson Motors, a business consisting of Chevrolet, Buick, Cadillac, and
Mercedes-Benz dealerships. He also sells Fleetwood and American Coach RVs. Doug
mentioned to his sales manager that “there is economic value in having many related
businesses managed by one ownership group. They are worth more than if they are separate
companies.” This is an example of ____.
114.
The BCG matrix is a means of evaluating strategic business units on the basis of their _____.
115.
In the BCG matrix, organizations that have slow growth but high market share, and income
from them often finances stars and question marks, are ____.
116.
In the BCG matrix, companies that have high growth and high market share, and are definite
keepers are ____.
117.
More important than profit growth, stimulating innovation, customer loyalty, and finding
qualified employees, global CEOs desire ____.
118.
Successful controlling within an organization, according to Bossidy and Charan, demands that
managers build a foundation of controlling using the three core processes of _____.
6-72
119.
A company’s overall ability to execute is a function of effectively executing according to three
processes, but Bossidy and Charan proposed that the _____ process is the most important.
120.
What is the assessment of the external environment? What are the critical issues facing the
business? Can the business execute the strategy? According to Bossidy and Charan, these
are some of the questions that should be addressed in a _____.
Essay Questions
121.
Summarize the three sources strategic position emerges from.
122.
Explain how strategic management works well for small as well as large organizations.
123.
Dave, CEO of a chain of family-style restaurants, is interested in implementing the strategic
management process in his restaurants. Summarize the strategic management process and
explain how Dave would execute each of the steps and the feedback loop of the strategic
management process in his restaurant.
124.
Summarize the three common grand strategies.
125.
Describe the characteristics of a good vision statement. List some of the questions that a good
vision statement will ask.
126.
Ann is CEO of a national chain of pet stores. Explain if she should utilize competitive
intelligence in her job for this company. Give examples.
127.
Choose an organization you are familiar with and develop a SWOT analysis for that
organization, utilizing the four elements of a SWOT analysis for that organization. Give specific
examples with the four elements.
128.
Define and describe a trend analysis. Give an example.
129.
Summarize Michael Porter’s model for industry analysis. Give an example of each of the five
primary competitive forces in a firm’s environment.
130.
Summarize how a company would utilize two of Porter’s four competitive strategies. Give
examples of each.
131.
Summarize how a company would utilize a single-product strategy and a diversification
strategy. Provide an example of a company that uses each type of strategy.
132.
Summarize how a company would utilize a cost-leadership strategy and a differentiation
strategy. Provide an example of a company that uses each type of strategy.
133.
Explain strategic control. Summarize the suggestions of Bryan Barry to keep a strategic
planning on track.