What is the first stage in the strategy formulation process?

• Formulate Strategy

• Identify Business Environment

• Identify Core Competency

• Identify Company Mission And Goals

What type of strategy adapts products to suit local preferences?

• Global Strategy

• Multinational Strategy

• Retrenchment Strategy

• Combination Strategy

Which strategy is designed to reduce the scale of a corporation's businesses?

• Stability Strategy

• Growth Strategy

• Focus Strategy

• Retrenchment Strategy

What is a core competency?

• A special ability that is hard to match

• A company's mission statement

• A method of growth

• A type of marketing strategy

Which of the following is NOT a corporate-level strategy?

• Growth

• Retrenchment

• Differentiation

• Stability

What does a low-cost leadership strategy focus on?

• Narrow market segment

• Lowest cost structure

• High-quality service

• Unique product design

What is the purpose of value-chain analysis?

• To identify core competencies

• To formulate strategies

• To analyze business environments

• To divide activities and create value

What type of decision-making is centralized?

• Decisions made by employees

• Decisions made at headquarters

• Decisions made at lower levels

• Decisions made by customers

Which strategy is designed to mix growth, retrenchment, and stability?

• Global Strategy

• Combination Strategy

• Multinational Strategy

• Focus Strategy

What is the main goal of a stability strategy?

• To expand market share

• To guard against change

• To increase profits

• To reduce costs