strategy

The CEO is meeting with his top managers to determine how best to compete successfully in the company's market. This group is developing the company's ________.

• A) strategy

  
  

• B) competitive advantage

  
  

• C) strengths and weaknesses

  
  

• D) opportunities and threats

  
  

The top managers of the corporation are meeting to discuss how they will compete in their chosen markets and how they will attract and satisfy customers. These managers are discussing ________.

• A) the business model

• B) strategy

• C) their competitive advantage

• D) core competencies

The main reason strategic management is important is ______

• A) it allows an organization to anticipate economic recessions

• B) it can make a difference in how well an organization performs

• C) it reduces uncertainty

• D) it simplifies the environment

 Strategic management involves only the planning function

• true

• false

A strategy defines how a company is going to make money.

• true

• false

 Strategic management is not important for non-profit organizations because their focus is on providing a needed service, not on making a profit.

• true

• false

 Defining the organizational mission forces managers to identify what ________.

•  its competitive advantage is

  
  

• what is the organization in business to do

  
  

• its capabilities are

•  pending legislation will affect the organization

  
  

Managers perform an external analysis so that they know about ________.

•  the firm's basic beliefs and ethical priorities

•  what the competition is doing

• what vendors want

• their organization's core competencies

Ali expects each person he hires for his online business to be involved in studying trends involving new technology, competitors, and customers. These employees are involved in

• external analysis

• internal analysis

• economic analysis

• industry analysis

 ________ are positive trends in the external environment.

• Strengths

• Threats

• Weaknesses

• Opportunities