Chapter 6

Front 1

The first step in the strategy-making process is to

Back 1

assess the need for strategic change

Front 2

In any organization, the ____ are the less visible, internal decision-making routines, problem-solving processes, and organization cultures that determine how efficiently inputs can be turned into outputs

Back 2

Core Capabilities

Front 3

The term ____ refers to the overall organizational strategy that addresses the question "What business of businesses are we in or should we be in?"

Back 3

Corporate-level strategy

Front 4

The research on diversification in portfolio management indicates that the best approach is probably

Back 4

related diversification

Front 5

Significant cost reductions, layoffs of employees, closing of poorly performing stores, offices, or manufacturing plants, or closing or selling entire lines of products or services would be characteristics of a _____ strategy.

Back 5

Retrenchment

Front 6

What are the five industry forces that determine an industry's overall attractiveness and potential for long-term profitability?

Back 6

Bargaining power of suppliers

threat of substitute products

character or rivalry

bargaining power of buyers

Front 7

Resource similarity and ____ are factors that determine the extent to which firms will be in direct competition with each other

Back 7

Marketing commonality

Front 8

____ are the assets, capabilities, processes, information, and knowledge that an organization uses to improve its effectiveness and efficiency, to create and sustain competitive advantage, and to fulfill a need or solve a problem.

Back 8

Resources

Front 9

A(n) ____ resource is a resource that is not controllwd or possessed by any competing firms

Back 9

Rare

Front 10

An organization is experiencing ___ when it is reluctant to change strategies or competitive practices that have been successful in the past.

Back 10

Competitive inertia

Front 11

While ___ are tangible, ____ are not.

Back 11

distinctive competencies; core capabilities

Front 12

____ are the targets that managers use to measure whether their firm has developed the core competencies that it needs to achieve a sustainable competitive advantage

Back 12

Strategic reference points

Front 13

The term ___ refers to the overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?"

Back 13

corporate-level strategy

Front 14

Starbucks, the operator of Starbucks, also markets a lig of CD's and other items. The making and marketing of the CD's and other stuff would be and example of ____.

Back 14

Unrelated diversification

Front 15

The _____ is a portfolio strategy that managers use to categorize their corporation's businesses by growth rate and relative market share. This strategy helps them to decide how to invest corporate funds.

Back 15

BCG matrix

Front 16

A ____ strategy is a broad corporate-level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use.

Back 16

Grand

Front 17

Companies can achieve growth mainly by

Back 17

growing internally through direct expansion or creating new businesses

Front 18

Companies that are following a ___ strategy would be most likely to try to improve the way in which they sell the same goods or services to the same customers

Back 18

stability

Front 19

Significant cost reductions, layoffs or employees, closing or porrly performing stores, offices, or manufacturing plants, or closing or selling entire lines of products or services would be characteristic of a ____ strategy

Back 19

retrenchment

Front 20

If successful, which strategy is often followed by a growth strategy?

Back 20

retrenchment

Front 21

A(n) ______ strategy is a corporate strategy that addresses the question "How should we compete in this industry?"

Back 21

industry level