Flashcards: Managing Strategically - CH 10

A business model comprises of ________ and whether the company can make money doing that.

Studies of the factors that contribute to organizational performance have shown ________ relationship between strategic planning and performance.

A ________ is a strategic design for how a company intends to profit from its strategies, work processes, and work activities.

Managers use the strategic management process in order to ________.

True or False: Strategic management consists of the decisions and actions that determine the long run performance of the organization.

True or False: The most fundamental questions about strategy address why firms, facing the same environmental conditions, have varying levels of performance.

True or False: Generally, strategic plans do not work well for small, entrepreneurial companies.

True or False: The same environment can present opportunities to one organization and pose threats to another.

True or False: In response to the global recession, companies that focused on flexible strategies were better able to cope with the environmental uncertainty.

The ________ answers the question "What is our reason for being in business?"

Concern for survival, growth, and profitability are all expressed in the organization's ________.

Mission statement should contain an expression about ________.

The purpose of Cathy's Clowns is "to provide healthy entertainment that makes young children laugh." This statement describes Cathy's ________.

"At HBC, we have a tremendous sense of responsibility, not only to the continued growth and success of our company, but also to the nation that we have been instrumental in building. Our culture is grounded in a commitment to take into account the social needs and issues impacting the communities where we do business." This statement relates most closely to which component of a mission statement?

The mission statement of Cirque du Soleil states, "We are united by one overriding goal: to entertain, uplift, and enlighten audiences the world over." This statement relates most closely to which component of a mission statement?

"At IBM, we recognize individual differences and appreciate how these differences provide a powerful competitive advantage and a source of great pride and opportunity in the workplace and marketplace." This statement relates most closely to which component of a mission statement?

At which step of the strategic management process do managers try to find out what the competition is doing and what pending legislation might affect the organization?

At which step of the strategic management process do managers identify opportunities and threats?

________ are positive trends in external environmental factors, while ________ are negative trends.

Computer peripherals provider Ascent plans to enter a new market in another country. Which of the following represents a threat for Ascent?

Jill is assessing the labor supply in the locations where her company currently operates. She is currently at which stage of the strategic management process?

Carly's Car Care has just found out that a new competitor is opening a few doors down in a prime location. The competitor will feature the very latest in car washing technology at competitive prices. The new competitor represents which of the following for Carly?

At which step of the strategic management process do managers assess their financial capital, technical expertise, employee skills, and marketing capabilities?

Helen, the owner of Crazy Cupcakes, is conducting a SWOT analysis of her company to find out where she can improve her business and to identify possibilities for expansion. Which of the following presents an opportunity for expansion?

The major value creating capabilities and skills of the organization are known as ________.

An organization that has been able to excel in product research and design, manufacturing, marketing, and managing its human resources to reach a leadership position in the marketplace is taking advantages of its ________.

Bella Vista Clothing targets teenaged girls with a range of affordable ready to wear clothing. The company is opening two new outlets, as sales have been excellent. Which of the following represents a strength for the company?

Pat's Pets has developed a reputation as the industry leader in quality pet care. It has exceptionally skilled employees who are known for their humane and loving treatment of animals. For Pat's, these resources would be considered ________.

Which of the following is one of the drawbacks to strong organizational cultures that a manager should consider when completing the strategic management process?

Once managers have completed their analysis of the strengths, weaknesses, opportunities, and threats facing the organization, they can proceed to the next step of the strategic management process, which is to ________.

If a bank evaluates the capabilities of its training and development department employees prior to implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process?

Kerry learns that the first step in the strategic management process is to ________.

At some point, Kerry will need to assess Delta's financial resources, technical expertise, employee skills, and marketing capabilities. This occurs at which step of the strategic management process?

Kerry will also need to assess industry trends, level of competition, labor supply, and pending legislation that might have an impact on Delta's operations. This occurs at which step of the strategic management process?

Kerry learns that the combination of internal and external analyses is called ________.

When Kerry reaches the end of the strategic management process, he will be at which step?

True or False: The first step in the strategic management process is analyzing the external environment.

True or False: Understanding the organization's culture is a crucial part of external analysis.

True or False: Evaluating an organization's intangible assets is part of conducting an internal analysis in the strategic management process.

True or False: The major value creating capabilities and skills of the organization are known as its primary resources.

True or False: One of the components of the mission statement should be the organization's competitive advantage.

True or False: SWOT analysis includes an analysis of an organization's internal and external environments.

True or False: When conducting a SWOT analysis, threats are activities the organization doesn't do well or resources it needs but doesn't possess.

A ________ strategy addresses organizational weaknesses, helps stabilize operations, and revitalizes organizational resources and capabilities.

Organizations grow by using ________ strategies.

When an organization grows by combining operations with competitors, the strategy is known as a ________ strategy.

When an organization attempts to grow by merging with or acquiring firms in different but associated industries, the strategy is known as a ________ strategy.

The Jim Pattison Group has grown by acquiring firms in diverse industries. Today, Jim Pattison owns food retail chains, car dealerships, radio stations, a fishing company, a sign company, a packaging company, and several museum themed tourist attractions. Jim Pattison has pursued a strategy of _______.

When Air Canada acquired its largest domestic competitor, Canadian Airlines International, it was pursuing a strategy of ________.

When athletic sportswear manufacturer Nike decided to open its own chain of retail stores, it was pursuing which corporate strategy?

When Kimberly Clark Corporation merged with Scott Paper Company to form the world's largest producer of tissue paper, they were pursuing which growth strategy?

When consumer electronics manufacturer Sony Corporation decided to open its own chain of retail stores, it was pursuing which corporate strategy?

When L'Oréal acquired The Body Shop, it carried out ________.

Over the last century, the Campbell Soup Company has expanded by acquiring other packaged consumer food companies such as Pace, V8, Pepperidge Farms, Swanson, and Godiva Chocolatiers. Campbell was pursuing which corporate strategy?

When the Campbell Soup Company began to manufacture its own cans to gain more control over a key production input, it was pursuing which corporate strategy?

When aluminum manufacturer Alcan purchased a mining company that mines bauxite, a key input in aluminum production, it was pursuing which corporate strategy?