Mgmt Ch 4

strategy is the managers

a firms strategy specifies

first step to create competitive advantage through a strategy is to

second step to create competitive advantage through a strategy is to

third step to create competitive advantage through a strategy is to

fourth step to create competitive advantage through a strategy is to

according to military leaders, tactics differ from strategy in that

according to military leaders, tactics differ from strategy in that

question that is most important to the development of a firm's strategy

according to milton friedman, the primary goal of a business is to

core competencies

vision of an organization

"it defines the purpose of the company" is a benefit from

strategy formulation

an emergent component of a firm's strategy

the planned component of strategy development involves

the constantly changing nature of the external environment requires managers to

in the formulation of strategy, managers must create a solid fit among the activities to

Foodies, a food manufacturing company, made plans to either open a new outlet in Berylia, a country where the majority are low-income families, or Erbia, a country where the majority of the people belong to high-income families. They finally decide to open a new outlet in Berylia, by offering products with reduced cost as the demand for their product is greater in Berylia. This scenario is an example of _____ in defining a strategy.

Z-coffiz charges much higher prices for a cup of coffee than its competitors. Z-coffiz is able to do this because it positions itself to be selling an experience, rather than merely a cup of coffee. Which aspect of a firm's strategy does this describe?

when a manager determines whether a firm's strategy leverages its key resources, which criteria for evaluating the quality of a firm's strategy is the manager assessing?

corporate level strategy

business level strategy

TechPark, a manufacturing company, was in the process of formulating a strategy in an attempt to improve the firm’s competitive advantage. The management began by evaluating the resources available within the organization to better understand how the firm should compete. Eventually they decided to offer their products at a lower cost compared to that of their competitors. Identify the strategy used by the management of TechPark.

a global strategy focuses on

a transnational strategy focuses on

firms use multinational strategies when

which strategy approach usually involves significant customization of a firm's products

in setting business level strategy, a manager evaluates

a global strategy attempts to

international strategies

transnational strategy focuses on

Z-Technologies, a manufacturing company in Berylia, is a global organization. The company owns a manufacturing unit in Erbia and another one in Rhodia, where the demand for its products is more. Though it is an expensive and risky proposition, the parent company has full control of the manufacturing units in the foreign countries. Which of the following market entry strategies has been used by Z-Technologies?

a firm can enter a foreign market through a

wholly owned subsidiary

licensing and franchising is a (blank) means of entry

licensing most often occurs between

franchising is used by

objectives provide a

as a manager develops a strategy, he/she must realize that competitive strategy is primarily about

the manager must make (blank) in the formulation of strategy