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The rate at which others can duplicate a firm's underlying resources, capabilities, or

core competencies is called

• Transferability

• Durability

• Transparency.

• Imitability.

The emphais of strategic managemeưnt is on?

• An examination of the organization's internal environment

• Long-term performance

• The short-run performance of the corporation

• First line managers

A company's strategy is most accurately defined as?

• The business model that a company's board of directors has approved foroutcompeting

  rivals and making the company profitable.

• Management's concept of "where we are headed

• Management's game plan for growing the business, attracting and pleasing customers,

  conducting operations, and achieving financial and market performance objectives.

• Management's approaches to building revenues, controlling costs, and generating an

  attractive profit.

Strategic planning within a small organization

• May be informal and irregular.

• Must be elaborate to allow for future growth.

• Should be done by the president only

• Should always be formalized and explicitly stated.

The most important aspect(s) of a company's business strategy?

• Deals with how management plans to maximize profits while, at the same time, operating

  in a socially responsible manner.

• Are the actions and moves in the marketplace that managers taketo gain a sustainable

  competitive advantage.

• Concerns how to improve the efficiency of its business model

• Is figuring out how to maximize profits and shareholder value

A difference between basic financial planning and forecast-based planning is?

Select one:

• Forecast-based planning incorporates environmental data and extrapolates current trends.

• The time horizon is shorter in forecast-based planning

• Basic financial planning utilizes scenarios and contingency strategies.

• Basic financial planning utilizes consultants with sophisticated techniques

The competitive moves and business approaches a company's managementis using to

grow the business, compete successfully, attract and please customers, conduct

operations, respond to changing economic and market conditions, and achieve

organizational objectives is referred to as its?

• Business model

• Vision

• Mission

• Strategy

A sugar company that is worried that consumers may buy artificial sweetener instead

of sugar is concerned about the?

• Bargaining power of suppliers

• Rivalry among existing firms.

• Threat of new entrants.

• Threat of substitute products.

According to Porter's model, a strong or high force is likely to reduceprofits and can be

regarded as a(n)?

• Threat.

• Risk.

• Opportunity.

• Advantage.

Which of the following statements is not true concerning a corporate reputation?

• A good corporate reputation can be a strategic resource.

• Reputation tends to be long lasting and hard for others to duplicate.

• Research shows no positive relationship between corporate reputation and financial

  performance.

• There is a positive relationship between corporate reputation and financial performance.