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Exam 6: Planning, Strategy, and Competitive Advantage

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Question 1

Multiple Choice

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A general guide to action for the managers of an organization is known as a:

A) rolling plan.
B) rule.
C) policy.
D) standard operating procedure.
E) scenario plan.

F) None of the above
G) C) and E)

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C

Question 2

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In the planning process,functional goals and strategies do not need to be consistent with divisional goals and strategies.

A) True
B) False

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Question 3

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Managers can use four principal corporate-level strategies in order to help their organization to increase its sales and profits.Discuss any two of these strategies and explain the decisions that a manager would have to make in a business in order to design a program that used these two strategies.

When PepsiCo purchased Frito-Lay and expanded its operations into the snack-food business,it was pursuing a ______________ strategy.

Scenario planning is often used to strengthen SWOT analysis.

An organization's level of involvement abroad decreases in a joint venture because the alliance rarely involves capital investment to produce goods or services outside the home country.

SynVens,a major retail chain in Hungary,is planning to diversify.It plans to enter the textiles industry and aims to be first or second in market share in this industry in five years.This is an example of a ______________-level plan strategy.

The strategy that explains the methods that a division or organization will use to compete against its rivals in the industry is a ______________-level strategy.

Give the four major reasons why planning is important.

Organizational goals should be both challenging and realistic.

The cluster of decisions about what goals to pursue,what actions to take,and how to use resources to achieve goals,is called an organization's strategy.

Establishing a wholly owned foreign subsidiary is much more expensive than the other global operations because it requires a higher level of foreign investment and presents managers with many more threats.

When General Electric Company expanded its operations by acquiring NBC television,this is an illustration of ________________.

While conducting a SWOT analysis,the strengths and weaknesses are considered the external environment factors affecting an organization.

The reason managers pursue vertical integration is that it allows them either to add value to their products by making them unique or to lower the costs of making and selling them.

According to Michael Porter's five forces model,the more that companies compete against one another for customers,the higher is the level of industry profits.

Top managers are primarily responsible for planning that takes place at the business level of an organization.

The divisions of an organization exist at the functional level of the organization.

To determine an organization's mission,managers must first define its:

Managers pursuing a focused differentiation strategy serve just one or a few segments of the market and aim to make their organization the most differentiated company serving that segment.