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Question
Seeking products or services that have been successful in one market and introducing the same basic product or service in another segment of the market is referred to as _____________.
A. imitative new entry
B. adaptive new entry
C. proactive new entry
D. pioneering new entry
Answer
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Related questions
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Management innovations such as total quality, just-in-time, benchmarking, business process reengineering, and outsourcing are important, but not enough for building sustainable competitive advantage.
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The three interrelated and principal activities of strategic management are: strategy analysis, strategy formulation, and strategy implementation.
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Discuss the key elements of corporate governance.
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In large organizations, conflicts can arise between functional areas. In order to resolve these conflicts, strategic objectives:
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Fortune Brands states they will cut corporate overhead costs by $30 million a year. This is an example of a:
A. nonfinancial strategic objective
B. financial strategic objective
C. vision statement
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In contrast to the vision of an organization, its mission should:
A. be shorter in length
B. encompass both the purpose of the company as well as the basis of competition
C. encompass all the major rules and regulations of the corporate work force
D. be less detailed.
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Examples of __________ include: To be the happiest place on earth (Disneyland), and Restoring patients to full life (Medtronic).
A. vision statements
B. mission statements
C. strategic objectives
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The hierarchy of organizational goals is in this order (least specific to most specific):
A. vision statements, strategic objectives, mission statements
B. mission statements, strategic objectives, vision statements
C. vision statements, mission statements, strategic objectives
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Q:
Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve:
A. the CEO and the board of directors
B. the board of directors, CEO, and CFO
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B. functional areas work together to attain overall goals
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Members of boards of directors are:
A. appointed by the Securities and Exchange Commission
B. elected by the shareholders as their representatives
C. elected by the public
D. only allowed to serve one term of four years
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__________ involves ensuring proper strategic controls and organizational designs.
A. Corporate governance
B. Corporate-level strategy
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Objectives in organizations should be clear, stated, and known by employees throughout the organization.
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Strategic objectives should be measurable, specific, appropriate, and realistic, but not constrained by time deadlines.
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A. Hire people that identify with the dominant values of the organization.
B. Develop managerial role models.
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B. controls; norms
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A. boundaries and constraints
B. culture and rewards
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A. Goals and objectives that are uncertain prevent opportunism.
B. Traditional strategic controls are usually inappropriate.
C. Complacency about predetermined milestones can prevent adaptability.
D. Detailed plans are needed to maintain order.