Question Question 1 Companies can achieve growth mainly by ____. Answer shrinking the scope of their business growing internally through direct expansion or creating new businesses deleting all cash cows from their portfolios only maintaining stars in their portfolios Question 2 Imagine Dow Chemical is conducting a situational analysis. According to its sales, Dow is the second largest chemical company in the world. BASF is the largest. Both companies use a similar strategy. Within Dow’s situational analysis, BASF would be classified as a ____. Answer cash cow primary firms unrelated firm core firm secondary firm Question 3 The research on diversification in portfolio management indicates that the best approach is probably ____. Answer related differentiation related diversification unrelated diversification repositioning no diversification Question 4 Which of the following organizations are most directly in competition with each other? Answer Kmart and Gap a local flower shop and a grocery store that sells flowers FedEx and UPS an independent bookstore and a library HBO and UPN television network Question 5 An organization which is a ____ in terms of its adaptive strategy would NOT follow a consistent strategy. Answer defender pioneer analyzer reactor prospector Question 6 From a competitive standpoint, ____ means that the strategic actions your company takes can probably be matched by your direct competitors. Answer market commonality resource similarity character of the rivalry competitive inertia competitive autonomy Question 7 A(n) ____ resource is a resource that is not controlled or possessed by many competing firms. Answer rare imperfectly imitable nonsubstitutable strategically dissonant permanent Question 8 When Clorox Corporation, a manufacturer of bleach and bleach-based cleaning products, acquired Kingsford Charcoal and Prime Choice brand steak sauce; it was an example of ____. Answer related differentiation related diversification an integrated acquisition competency acquisition unrelated diversification Question 10 Resource similarity and ____ are factors that determine the extent to which firms will be in direct competition with each other. Answer market commonality resource quality related diversification product differentiation customer autonomy Question 11 Companies often choose a ____ strategy when their external environment doesn’t change much or after they have struggled with periods of explosive growth. Answer stability growth pioneering portfolio retrenchment Question 12 The purpose of a ____ strategy is to turn around very poor company performance by shrinking the size or scope of the business. Answer growth stability retrenchment maturity repositioning Question 13 A(n) ____ is a resource that is impossible or extremely costly or difficult for other firms to duplicate. Answer rare imperfectly imitable nonsubstitutable strategically dissonant Reliable Question 14 Cost leadership, differentiation, and focus are the three types of ____ strategies discussed in the text. Answer grand niche positioning restructuring portfolio Question 15 McDonald’s uses a ____ strategy (a kind of grand strategy) as it increases its profits in France by offering uniquely French products such as Croque McDo, the McDonald’s version of a popular French grilled sandwich. Answer growth decline retrenchment/recovery repositioning pioneering Question 16 Unverferth Manufacturing makes agricultural equipment. It used finite element analysis (FEA) software to speed up the design cycle for its 12-row sub-soiler. Which aspect of the compression approach to innovation would the use of this software apply? Answer planning supplier involvement shortening the time of individual steps multifunctional teams functional isolation Question 17 Organizational development ____. Answer requires a steering committee t
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