Question-CUNY Baruch
1. A comprehensive action plan that identifies long term direction for an organization is called a(n) ____________.
2. ____________ is a phrase or statement that focuses organizational energies on achieving a
3. During the time of the Great Depression, Herbert Hoover promised the voters "a chicken in every pot and a car in every garage." This could be considered a statement of __________.*
4. Operating in successful ways that are difficult to imitate is called a ______________.
5. Which of the following does not contribute to a sustainable competitive advantage?
6. The levels of strategy used in organizations are corporate, business and ________. *
7. In a large company, a strategy that sets the long term direction for the entire company is called a __________ strategy.
8. An example of a strategic question at the corporate level is:*
9. A strategy that identifies how a division or business unit will compete in its product or service domain is called a __________ strategy.
10. A(n) __________ strategy is one that guides activities within a specific area such as engineering and marketing.
11. An example of a strategic question at the business strategy level is:
12. An example of a strategic question at the functional level is:
13. A strategy for expanding an organization's business is called a _________ strategy.
14. Which of the following is not a growth strategy?
15. When a company expands in its existing markets it is called growth through _______.
16. When a company expands by entering new business areas, it is called growth through ________.
17. When a company expands by acquiring suppliers or distributors, it is called growth through ________.*
18. The riskiest growth strategy is through:
19. A strategy whose objective is to correct major problems in the business through radical changes to current operations is called a _________ strategy.
20. Which of the following is not a retrenchment strategy?*
21. When a company closes and sells its assets in order to pay its debts, it is called ____________.
22. When a company reduces the size of its existing operations, it is called ____________.
23. The retrenchment strategy that calls for selling off part of the organization is called:
24. A _________ protects an insolvent firm from creditors during a period of reorganization to restore profitability. a) divestiture
25. A __________ strategy views the world as one market and adopts standard products and advertising for use worldwide.
26. A __________ strategy customizes products and advertising to the culture of the local markets into which they are sold.
27. A __________ strategy tries to operate without a strong national identity and seeks a balance between the efficiency of worldwide operations and responsiveness to local cultures.*
28. When two companies join together in partnership to pursue an area of mutual interest, it is called a(n) _______________.
29. When a company legally works with its rivals on projects of mutual benefit, it is called _______.
30. Companies that use the internet to market their products and gain competitive advantage are employing a(n) ___________ strategy.*
31. The electronic version of the basic retail strategy of selling directly to customers is:
32. A _________ strategy uses information technology and the internet to link organizations vertically in supply chains.*
33. The process of formulating and implementing strategies to accomplish long term goals and to maintain a competitive advantage is called __________.*
34. Strategic management consists of strategy _________ and _________.
35. The _________ statement defines the purpose of the organization and its reason for existence in society.
36. Specific results that companies try to achieve such as net sales and profits are common results called _________.
37. Which of the following is not a part of a SWOT analysis?*
38. The SWOT element that focuses on internal deficiencies is called:
39. A special strength that a company has that gives it a competitive advantage is called a(n) _________.
40. Porter suggests that industry attractiveness is a function of five forces, including:*
41. A strategy that focuses on offering products that are unique with respect to competitor's products is called a(n) _____________ strategy.*
42. A strategic position within an industry relying upon low cost for a market segment would be called a(n):
43. The recommendation of the BCG matrix on question marks is retrenchment or ________.*
44. What is the best strategy for products that the Boston Consulting Group would identify as dogs?*
45. A strategic leader has to:*
46. Business strategies should support business goals and objectives.
47. The key to having a sustainable competitive advantage is operating in a way that is difficult to imitate.
48. A functional strategy provides long term direction for the total enterprise.
49. The advantage of growth through concentration is that you are growing in an area that you know and, presumably, have expertise.
50. A retrenchment strategy could be a going out of business strategy.
51. Just about any kind of partnership between two companies could be called a strategic alliance.
52. Co-opetition is the strategy of working with rivals on projects of mutual benefit.
53. The process of strategic management focuses only upon developing strategies.
54. A mission statement includes specific goals that the organization wants to achieve.
55. A SWOT analysis includes a detailed examination of an organization's strengths and weaknesses.
56. A special strength that gives an organization a competitive advantage is called a core competency.
57. Porter's Model of Industry Attractiveness includes four forces.
58. If your strategy is to compete on price against your competitors, your strategy is one of focused differentiation.
59. In the BCG matrix, stars are the business units that have high market shares in high-growth markets.
60. Strategic leadership inspires people to implement organizational strategies.
61. A(n) _____ is a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish its goals.
62. _____ strategies guide the activities of specific areas in implementing the organizational-level strategies.
63. Expansion into areas of new business is called _____.
64. _____ entails cutting the size of your organization and reducing the workforce.
65. The international business strategy that adopts standard products and advertising to use worldwide is called a(n) _____ strategy.
66. Strategic _____ is the process of putting strategies into action.
67. The shorter-term guides to action under the mission statement are called _____.
68. _____ are special strengths of an organization and give the organization a competitive advantage.
69. A(n) _____ strategy indicates concentration on a special market segment or niche.
70. _____ is the capability to inspire people to successfully engage in a process of continuous change, performance enhancement, and implementation of the firm's goals.
71. Define the difference between a competitive advantage and a sustainable competitive advantage.
72. What is the difference between a globalization strategy and a transnational strategy?
73. What are the three levels of strategy in large companies? Define each of them as to their relationship to organizational structure, their purpose and their strategic questions.
74. Name Porter's Five Forces and describes their relation to the organization's internal and external environments.
75. Discuss the classifications in the Boston Consulting Group's matrix as they relate to industry growth, market share and business strategy.