SM (1-30)

According to the text, one reason environmental uncertainty is a threat to strategic managers is because?

• It is a costly and time-consuming process.

• It hampers their ability to develop long-range plans and make strategic decisions.

• It forces the strategic manager to be more stable.

• It creates a new playing field in which creativity and innovation can play a major part in strategic decisions

Which of the following is not a support activity of the value chain?

• Strategic planning

• Human resources management

• Technology development

• Marketing & Sales

What is a set of business units or firms that "pursue similar strategies with similar resources"?

• Integral association

• Strategic group

• Collective collaboration

• Cooperative

Which barrier to entry do corporations such as P&G use to force new entrants to spend heavily to overcome existing customer loyalty?

• Switching costs

• Capital requirements

• Product differentiation

• Access to distribution channels

Which of the following is a function of corporate culture?

• It conveys a sense of identity for employees.

• It generates creative approaches to new situations.

• It encourages flexibility and thus constant change.

• It encourages a laissez faire set of attitudes.

Which of the following is not one of the eight current sociocultural trends mentioned in the text?

• Wage/price controls

• Increasing environmental awareness

• Growth of the seniors market

• Decline of the mass market

Which societal force includes demographic trends?

• Technology forces

• Sociocultural forces

• Labors forces

• Economic forces

The technique recommended by the text to organize an analysis of external strategic factors is called?

• SWOT

• IFAS

• SFAS

• EFAS

In the EFAS Table, the indicator of how well a particular company is responding to current and expected factors in its external environment is characterized by the?

• Industry matrix

• Total weighted score

• IFAS score

• SWOT score

Which of the following is not an element of a company's business strategy?

• Actions to strengthen competitiveness via strategic alliances and collaborative partnerships

• Actions to respond to changing market conditions or other external factors

• Actions to strengthen internal capabilities and competitively valuable resources

• Management actions to revise the company's financial and strategic performance targets