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Exam 4: Planning and Strategic Management

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Question 71

Multiple Choice

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If a business gains market share while the industry market growth remains high,it would move from being classified as a _______________ to a _______________ according to the BCG matrix.

A) star,question mark
B) question mark,star
C) cash cow,dog
D) dog,cash cow
E) star,cash cow

F) C) and E)
G) A) and E)

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Question 72

Multiple Choice

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Which of the steps in the formal planning process involves studying past events,examining current conditions and forecasting future trends?

A) Situational analysis
B) Alternative goals and plans
C) Goal and plan evaluation
D) Goal and plan selection
E) Monitor and control

F) B) and C)
G) All of the above

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Question 73

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Examples of strategic goals are

General decision-making stages and specific formal planning steps are quite similar.

Scenario C. A global cosmetics company called Organic Naturals is considering its corporate strategy. Several members of its board of directors believe they have the "perfect" strategy for the company. Joe believes that the best option is for Organic Naturals to stay on their current track of offering only organic cosmetics to customers who like organic cosmetics. Marsha wants the company to expand by purchasing the manufacturing plants that produce the Organic Naturals products. Another director, Carson, wants to build the company by adding related products like skin care and perfume to be sold alongside its current products. Finally, the original owner of the company, Doris, wants to grow the company by doing something completely new like building restaurants or perhaps starting an entertainment park. -Carson is advocating which corporate strategy?

Once alternative goals and plans have been identified,the next step in the formal planning process is

List and explain at least five activities that might be involved in an environmental analysis.

Tactical plans may have a time horizon of a year or two,and operational plans may cover a period of months.

Functional strategies are implemented by top-level managers.

When using scenario planning,a different contingency plan is attached to each scenario.

Intangible assets include

Traditionally,strategic management has emphasized a bottom-up approach.

Essential to developing a system that will monitor and control the implementation of plans developed in the formal planning process is the establishment of

The final component of the strategic management process is strategic

An internal resource analysis includes assessing the major functional areas inside the organization.

Although Caprice's Beverage Company had focused only on alcohol products for the past two decades,the company is now considering entering the bottled iced tea arena as well.If Caprice's decides to enter the bottled iced tea arena,Caprice's would be using a __________ strategy.

Situational analysis,as part of the formal planning process,focuses on internal forces at work within the organization and examines influences from the external environment.

The long-term direction and strategic intent of a company refers to its

Discuss the four basic corporate strategy alternatives.Under what circumstances are each of the strategies utilized?

Describe the two broad categories of resources and describe each one.Describe how resources can be a source of competitive advantage.