Deck 10: Strategy and Achieving Mission Advantage

Question 1

____ analysis compares the value of the strategic business units (SBUs)of firms.

A) Creative
B) Systems
C) Organizational
D) Portfolio

Answer 1

Portfolio

Question 2

The four expressed values of All Saints Healthcare System are respect,sharing with the poor,excellence,and ____________________.

Answer 2

stewardship

Question 3

____________________ are the expression of the ethics that guide employees' actions.

Answer 3

Values

Question 4

A(n)____________________ is defined as the conditions and elements within an organization,including employees,management,and culture that affect the firm's choices and activities.

Question 5

____ is the development of a broad formula prescribing a way in which a business competes and collaborates,sets goals,and establishes policies to carry out those goals in order to achieve the organizational mission.

A) Designing
B) Planning
C) Collaboration
D) Strategy

Question 6

____________________ are the existence of obstacles that prevent competitors from attempting to enter an industry or market.

Question 7

The ____ Framework has often been employed to understand the competitive forces in industries.

A) Forward Financial
B) Five Fingers
C) Five Forces
D) Forward Forces

Question 8

The existence and enactment of a company ____ is critical to a firm's success.

A) metaphor
B) policy
C) formula
D) mission

Question 9

A(n)____________________ makes up the core elements of a firm and how it is organized to deliver value to its customers and generates revenues.

Question 10

A(n)____________________ is a statement about what the organization wants to become.

Question 11

When competing products or services are similar,buyers may obtain value based on the company's ____.

A) portfolio
B) image
C) efficiency
D) efforts

Question 12

The ____________________ is a recognized strategic move to gain advantage by being the initial occupant of a market segment and/or product.

Question 13

____ costs are the costs incurred when a customer changes from one supplier or product to another.

A) Detrimental
B) Rotating
C) Oscillating
D) Switching

Question 14

____________________ is likely to occur in markets where competitors differ substantially from one to another.

Question 15

____________________ involves the creation,implementation,and overall direction for a firm.

Question 16

To have lasting importance,____________________ must be valuable,rare,difficult to imitate,and lack substitutes.

Question 17

____ is the long-term market position and uniqueness that is not easily duplicable by rivals.

A) Competitive advantage
B) Competitive identity
C) Systems advantage
D) Systems identity

Question 18

The analytical tool used for evaluating organizational capabilities,SWOT,stands for ____.

A) strengths,weakness,organization,and teamwork
B) strengths,weakness,opportunities,and threats
C) structure,weakness,opportunities,and teamwork
D) structure,weakness,organization,and threats

Question 19

A number of factors affect uncertainty in the environment and therefore strategic planning for an organization: (1)political/legislative changes
(2)technology innovation,and
(3)changing ____.

A) trends
B) customer demand
C) organizational policy
D) cultures

Question 20

____ power is when customers seek to drive down price and improve quality.

A) Buyer
B) Intentional
C) Supplier
D) Group

Question 21

Match each item with a statement below:

Market dominated by a few large companies

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 22

Match each item with a statement below:

Assumes a systems approach where there are two subsystems: service delivery and support activities

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 23

Match each item with a statement below:

Conditions,entities,and factors surrounding an organization that influence its activities and choices

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 24

Match each item with a statement below:

Occurs when the average cost per unit lowers from increased volumes

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 25

Match each item with a statement below:

Fully consolidated markets with only one firm

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 26

Match each item with a statement below:

An example of a generic strategy

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 27

Match each item with a statement below:

Characterized by a large number of small firms that have similar but not identical products

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 28

Match each item with a statement below:

Targeted to a narrow market segment

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 29

Match each item with a statement below:

Characterized by many buyers and sellers,many products that are similar and undifferentiated

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain

Question 30

Match each item with a statement below:

Concept to identify organizations within an industry that have similar business models and/or strategic orientations so that they directly compete with each other

A)oligopoly
B)perfect competition
C)low-cost leadership
D)economies of scale
E)external environment
F)strategic group
G)monopolistic competition
H)market niche
I)monopolies
J)value chain