Question 1

This question contains two parts;be sure to answer both.First,explain the three key principles that underlie strategic positioning.Next,explain whether strategic management works as well for small companies as it does for large organizations,providing an example of how a small company can offer personal connections as a source of competitive advantage.

Accepted Answer

The answer of This question contains two parts;be sure to...

Question 2

"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,a ______ should address these some of these questions.

Accepted Answer

The best choice for addressing questions related to the assessment of the external environment, critical issues facing the business, and the ability to execute the strategy is a strong strategic plan. A mission statement provides a sense of purpose and direction but does not necessarily address these specific questions. A code of ethics, value statement, and diversity agenda are important components of a business but do not directly address these questions.

Question 3

The BCG matrix is a means of evaluating strategic business units on the basis of their

Accepted Answer

The BCG matrix evaluates strategic business units based on their business growth rates (represented on the vertical axis) and their share of the market (represented on the horizontal axis). This allows for classification of the units into one of four categories: stars, question marks, cash cows, and dogs. Therefore, option C is the correct choice.

Question 4

Which of the following questions is NOT useful for evaluating a company's values statement?

Accepted Answer

The answer of Which of the following questions is NOT...

Question 5

The Golden Bed in Dayton,Ohio,sells high-quality,unique bedding that is a real value to upscale homes in the area.No other company in its local area markets bedding of such quality and value.By offering this type of product,The Golden Bed is utilizing a _____ strategy.

Accepted Answer

The Golden Bed is using a focused-differentiation strategy by targeting a specific market segment (upscale homes) with unique, high-quality bedding that is not offered by competitors in the local area.

Question 6

Mountain Rescue Incorporated sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its competitors,which offer a larger line of more expensive products and focus on broader markets.Mountain Rescue Incorporated is pursuing a ____ strategy.

Accepted Answer

Mountain Rescue Incorporated is pursuing a cost-focus strategy because it sells products at prices below those of its competitors and focuses on a narrow market.

Question 7

Organic Market sells high-quality products and grocery items that are unique to its area;in addition it offers delivery for customers who are unable to leave their home and a number of regular workshops regarding healthy eating.By offering these types of products and services,Organic Market is pursuing a _____ strategy.

Accepted Answer

Organic Market is differentiating itself from other grocery stores by offering unique, high-quality products and services such as delivery and workshops on healthy eating. This strategy is known as differentiation, where a company sets itself apart from competitors by offering unique products or services.

Question 8

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 launch new restaurants successfully.Quality Services is pursuing a _____ strategy.

Accepted Answer

Quality Services is pursuing a diversification strategy as it operates in multiple industries, including food products, restaurant equipment, paper and plastic products, and consulting services for restaurant owners.

Question 9

Imagine that you are the CEO of Biggies,a chain of family-style restaurants.You are interested in implementing the strategic management process in your restaurants.Summarize the strategic management process and explain how you would execute each of the steps and the feedback loop of the strategic management process in your restaurant chain.

Accepted Answer

The answer of Imagine that you are the CEO of...

Question 10

In the 1970s,Atari singlehandedly created a market for home video games,offering a console and cartridges that contained games like Space Invaders,Centipede,and Asteroids.At the time,Atari effectively implemented a ______ strategy.

Accepted Answer

Atari created a completely new market for home video games, thereby implementing a blue ocean strategy. They were the first mover and did not face any direct competition in the market at that time.

Question 11

Successful controlling within an organization,according to Bossidy and Charan,demands that managers build a foundation of controlling using ___________,the three core processes.

Accepted Answer

According to Bossidy and Charan, successful controlling within an organization requires building a foundation of controlling using the three core processes of people, strategy, and operations. Therefore, option B is the correct choice as it includes the appropriate three core processes. Options A, C, and D include some relevant processes, but they do not include all three core processes mentioned by Bossidy and Charan. Option E includes different processes that are not relevant to controlling within an organization.

Question 12

In the BCG matrix,_____ are companies that have high growth and high market share,and are definite keepers.

Accepted Answer

Stars are the companies that have high growth and high market share, and they are considered as keepers in the BCG matrix.

Question 13

In the BCG matrix,_______ are organizations that have slow growth but high market share,with income that often finances stars and question marks.

Accepted Answer

Cash cows are organizations that have a high market share but slow growth. They generate significant income that can be used to finance other products in the company's portfolio, such as stars and question marks.

Question 14

Global CEOs desire ___________ even more than profit growth,stimulating innovation,customer loyalty,and finding qualified employees.

Accepted Answer

How important is execution to organizational success in today's global economy? A survey of 769 global CEOs from 40 countries revealed that "excellence in execution" was their most important concern, more important than "profit growth," "customer loyalty," "stimulating innovation," and "finding qualified employees."

Question 15

A company's overall ability to execute is a function of effectively executing according to three processes,but Bossidy and Charan believe that the _____ process is the most important.

Accepted Answer

According to Bossidy and Charan, the most important process for a company's ability to execute is the people process. This involves hiring, training, developing, and retaining the right people for the organization. Without the right people, even the best strategies and plans cannot be effectively executed. Therefore, effective people management is crucial to overall execution success.

Question 16

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.

Accepted Answer

The strategy described in the scenario is diversification, where a company operates different businesses or offers different services to spread the risk and reduce dependence on a single source of revenue. The other options (focused-differentiation, differentiation, and multiservice) don't fully capture the idea of operating multiple businesses or services to reduce risk.

Question 17

Strategy involves creating a "fit" among activities." "Fit" has to do with the ways a company's activities interact and reinforce one another.The most effective companies have good or excellent fit among their activities.

Accepted Answer

The answer of Strategy involves creating a "fit" among activities."...

Question 18

Motherboard Technology makes and sells only one product,a high-quality processor for mainframe computers,within its market-Silicon Valley,California.Which strategy is Motherboard Technology using?

Accepted Answer

Motherboard Technology is using the single-product strategy by focusing only on one product, which is a high-quality processor for mainframe computers.

Question 19

This question contains two parts;be sure to answer both.First,summarize the three sources from which strategic position emerges,providing an example of a company with each strategic position.(You will be providing three examples. )Second,select either McDonald's or Apple Computer and discuss the company's strategic position.

Accepted Answer