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The flashcards below were created by user
jenbear01
on FreezingBlue Flashcards.
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As an owner of a clothing manufacturer who is considering entering the teen and pre-teen markets, which of the following steps should be accomplished first to make your decision?A)make alternative goals and plans
B)evaluate the goals
C)select a plan
D)do a situational analysis
E)monitor and control the plan
D.) Do a situational analysis
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Organizations usually have a number of mutually reinforcing strategic goals. A computer manufacturer has the following goals at various levels of the organization. Which goal is a strategic goal?
A)the number of programmers to hire
B)which accounting system to use
C)the manufacturing equipment to be purchased for a new product line
D)launching a specified number of new products in a particular time frame
E)the possible change in advertising agencies
D.) launching a specified number of new products in a particular time frame
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Which of the following is one of the four key drivers of a strategy map?
A)the skills of its people and their ability to grow and learn
B)the effectiveness of its internal processes
C)its ability to deliver value to customers
D)its ability to grow its financial assets
E)All of the above are key drivers of a strategy map.
E) All of the above are key drivers of a strategy map.
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Which of the following is an example of a mission statement?
We work to help people and businesses throughout the world to realize their full potential. Microsoft
Explanation: A mission statement is a clear and concise expression of the basic purpose of the organization, such as the one used by Microsoft.
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Frequently, the difference between an opportunity and a threat depends on how a company positions itself strategically.
True
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The Walt Disney Company has developed its strategic plan on combinations of tangible assets (e.g. hotels and theme parks) as well as intangible assets (brand recognition, talented craftspeople, and culture focused on customer service).
True
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A core competence is something a company does especially well relative to its competitors.
True
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A corporate strategy identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources among those businesses. Which of the following is an example of a corporate strategy?A)benchmarking
B)collaboration
C)concentration
D)differentiation
E)cooptation
C.) Concentration
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Nordstrom follows a differentiation business strategy.
True
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Which of the following is a step in the strategy implementation process?
A)Complete a financial analysis.
B)Establish a mission, vision, and goals.
C)Analyze external opportunities and threats.
D)Assess organizational capabilities
.E)Build a strategy map.
D)Assess organizational capabilities.
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