1. A comprehensive action plan that identifies long term direction for an organization is called a(n) ____________.
2. ____________ is a phrase or statement that focuses organizational energies on achieving a
3. During the time of the Great Depression, Herbert Hoover promised the voters “a chicken in every pot and a car in every garage.” This could be considered a statement of __________.*
4. Operating in successful ways that are difficult to imitate is called a ______________.
5. Which of the following does not contribute to a sustainable competitive advantage?
6. The levels of strategy used in organizations are corporate, business and ________. *
7. In a large company, a strategy that sets the long term direction for the entire company is called a __________ strategy.
8. An example of a strategic question at the corporate level is:*
9. A strategy that identifies how a division or business unit will compete in its product or service domain is called a __________ strategy.
10. A(n) __________ strategy is one that guides activities within a specific area such as engineering and marketing.
11. An example of a strategic question at the business strategy level is:
12. An example of a strategic question at the functional level is:
13. A strategy for expanding an organization’s business is called a _________ strategy.
14. Which of the following is not a growth strategy?
15. When a company expands in its existing markets it is called growth through _______.
16. When a company expands by entering new business areas, it is called growth through ________.
17. When a company expands by acquiring suppliers or distributors, it is called growth through ________.*
18. The riskiest growth strategy is through:
19. A strategy whose objective is to correct major problems in the business through radical changes to current operations is called a _________ strategy.
20. Which of the following is not a retrenchment strategy?*
21. When a company closes and sells its assets in order to pay its debts, it is called ____________.
22. When a company reduces the size of its existing operations, it is called ____________.
23. The retrenchment strategy that calls for selling off part of the organization is called:
24. A _________ protects an insolvent firm from creditors during a period of reorganization to restore profitability. a) divestiture
25. A __________ strategy views the world as one market and adopts standard products and advertising for use worldwide.
26. A __________ strategy customizes products and advertising to the culture of the local markets into which they are sold.
27. A __________ strategy tries to operate without a strong national identity and seeks a balance between the efficiency of worldwide operations and responsiveness to local cultures.*
28. When two companies join together in partnership to pursue an area of mutual interest, it is called a(n) _______________.
29. When a company legally works with its rivals on projects of mutual benefit, it is called _______.
30. Companies that use the internet to market their products and gain competitive advantage are employing a(n) ___________ strategy.*
31. The electronic version of the basic retail strategy of selling directly to customers is:
32. A _________ strategy uses information technology and the internet to link organizations vertically in supply chains.*
