0 Exact answers 0 Text answers 76 Multiple-choice answers Show Straddling strategies as an approach to strategic management is not recommended for which of the followrng reason: According to Porter straddling strategies is recommended for narrow scope firms that have been successful in the past. It is an attempt to gain competitive advantage based on over-all low-cost provider of a product or service Research shows that stradeling strategies leads to confusion among managers about the direction of the company. It is an indication that the firm's managers have not made necessary choices about the business and its strategy
Firms that do the product leadership strategy well include which of the following factors: Do not focus on innovation Are in stagnant markets Have superb operations and execution Focus on development, innovation, design, and time to marketThe purpose of diversification is: To build a portfolio of businesses much like a portfolio of stock To spread out risk and opportunities over a larger set of businesses To capture more consumers To satisfy the mission and visionThe major diversification strategy through which products are produced that are technically similar to the company's current products but appeal to a new consumergroup is: Horizotal diversification Hierarchical diversification Conglomerate diversification Concentric diversificationExamples of business strategy include all the followrng EXCEPT: Help keep existing customers Know the business needs to compete in orderto be effective Grow its business by moving into new markets and taking customers from competitors Determine how to keep profit level demanded by the stock marketStrategy formulation answers the question: How is strategy applied to me? What should our strategy be? How do we execute a chosen Strategy? Where does strategy fit in?
Superiority in competitive advantage refers to all of the followrng factors EXCEPT: While there are different schools of thought about how strategy comes about, researchers generally agree the common chaiactenstic across successful organizations is: Strategic focus Strategy trade-off Strategy discipline Strategic processThe different aspects of strategy as distinguished by Mintlberg include which of the following? Realized Differentiate Consequential PermanentUsing Porter’s analysis, firms are likely to generate higher profits if the industry includes which of the following? Difficult to enter Buyers are strong Unlimited nvaliyHow groups function has important implications for organizational: Hierarchy POLC function Mission and vision Productivity
Employees tend to be satisfied, but the effects on decision quality or employee productivity are weaker when leaders use which of the following decision making style? Democratic Laissez-faire Authoritarian Leader structuredA team may be charged with coming up with a new marketing slogan. Which kind of task is that? Idea generation Directing Production Problem-solvingDirective leadership is thought to be most effective in which of the following situations? Employees have low level of ability Employees have role clarity Managing professional employees with job-specific knowledge Employees are performing boring, routine, and highly structured jobsAccording to Goleman, in what way are effective leaders different from ineffective leaders? They differ in years of management experience They differ in their understanding of the mission of the company motivation They differ in their understanding of other people's emotions They differ in their ability to control the emotions of othersThe leadership style that sets goals for employees and encourages them to reach their goals is called: Directive Supportive Achievement oriented Participative
Where does strategy formulation fit within the POLC framework?In terms of the P-O-L-C framework, strategy formulation is the P (planning) and strategy implementation is realized by O-L-C. Corporate strategy helps to answer questions about which businesses to compete in, while business strategy helps to answer questions about how to compete.
How are shareholders affected by a firm's strategies?For instance, it is easy to see how shareholders are affected by firm strategies—their wealth either increases or decreases in correspondence with the firm's actions. Other parties have economic interests in the firm as well, such as parties the firm interacts with in the marketplace, including suppliers and customers.
Which of the following forms of diversification occurs when a firm operates multiple businesses within the same industry?EXPLANATION: Related diversification occurs when a firm operates multiple businesses within the same industry.
Why do firms look to diversify?Why might a firm look to diversify? a. Spread out risk and opportunities over a larger set of businesses.
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