Bmgt 3510 Chapter 7

Front 1

Long-range planning that focuses on the organization as a total unit is called ___.

Back 1

Strategic planning

Front 2

Which of the following suggests that managers should provide finds for planning only when they anticipate a reasonable return on investment?

Back 2

Commitment principle

Front 3

Which of the following represents the first step in the strategic management process?

Back 3

Environmental analysis

Front 4

To best understand what is happening both internally and externally to the organization, and to increase the probability of developing organizational strategies that reflect the organizational environment, a(n) ___ analysis should be undertaken.

Back 4

Enviromental

Front 5

The element of the general environment that indicates how resources are being distributed and used in the environment is the ___ component.

Back 5

Economic

Front 6

Demographics, the statistical characteristics of a population, are reflected in the ___ component of the general environment.

Back 6

Social

Front 7

Laws such as the Clean Air Act, the Affordable Care Act, and the Consumer Products Safety Act are considered part of the ___component of the general environment.

Back 7

Legal

Front 8

Which tool is designed to identify and analyze forces determine competitiveness within an industry?

Back 8

Five forces model

Front 9

In Porter’s Five Model, ___ refers to the ability to new firms to enter the industry.

Back 9

The threat of new entrants

Front 10

Under Porter’s Five Forces Model. What happens when the threat of substitutes increase?

Back 10

The attractiveness of an industry decreases

Front 11

The purpose of which an organization exists is its ___.

Back 11

Organizational mission

Front 12

Which term refers to a strategy intended to strengthen or protect the amount of business a strategic business unit is currently generating?

Back 12

Retrenchment

Front 13

Determining how to best achieve organizational objectives is done through ___.

Back 13

Strategy formation

Front 14

Which of the following compares internal strengths with external opportunities?

Back 14

SWOT analysis

Front 15

In the BCG Growth-Share Matrix, which matrix quadrant is categorized as having a large share of a market that is growing only slightly?

Back 15

Cash cow

Front 16

A significant organizational segment that is analyzed to develop strategies for generating future business or revenue is known as a ___.

Back 16

Strategic business unit

Front 17

Which of the following is a strategy that targets a particular customer in order to make the organization more competitive?

Back 17

Focus

Front 18

Wal-Mart’s strategy focuses on offering lower prices than its competitors. This is an example of which generic strategy?

Back 18

Cost leadership

Front 19

In the strategic management process, putting strategies into action is done through ___.

Back 19

Strategy implementation

Front 20

When implementing a strategy, the ability to network people who can solve implementation problems accomplished through ___skills.

Back 20

Organizing

Front 21

The ability to provide resources necessary to strategy implementation is done with ___.

Back 21

Allocating skills

Front 22

___ involves outlining what the different parts of an organization should do in order to be successful at some point one year or less into the future.

Back 22

Tactical planning

Front 23

Why are strategic plans less detailed than tactical plans?

Back 23

Because strategic plans are based on aprediction of the future

Front 24

How a firm undertakes strategic and tactical actions, and competitors’ responses to those actions, is referred to as ___.

Back 24

Competitive dynamics

Front 25

___ refers to the resources and ability a firmhas to undertake an action.

Back 25

Competitor capability