A ________ is a course of actions taken by managers to help a company meet its objectives

Which of the following clarifies the organization's purpose, values, and direction?

Which of the following is the first stage of the strategy-formulation process

Which of the following statements is true of objectives?

Which term refers to the major objectives that a firm wants to accomplish through pursuing a specific course of action

Which of the following statements is true of the environmental forces that affect strategy formulation?

Adapting products and their marketing strategies in each of the national markets of a company to suit local preferences is called a ________ strategy

Companies often establish largely independent, self-contained units in each of its national markets to implement a ________ strategy.

Which of the following strategies is appropriate for companies in industries where buyer preferences do not converge across national borders?

The main benefit of a multidomestic strategy is that it ________.

What strategy involves adapting products and their marketing strategies to national markets

Which of the following should managers at Beanstalk conduct to identify and distinguish between the primary and support activities in the organization?

Strategy is the set of planned actions that managers take to help a company meet its objectives.

All parties ranging from suppliers and employers to consumers who are affected by a company's activities are called its stakeholders.

Objectives at the highest level in a company are always stated in the most specific terms

Objectives of individual business units in an organization exclusively contain numerical targets of performance.

Core competencies are the special ability of a company that competitors find extremely difficult or impossible to equal.

Core competencies are developed by organizations over long periods of time.

Technology development along with business infrastructure, human resource management and procurement are examples of a support activities in the value chain of an organization

Marketing and sales are examples of a support activities in the value chain of an organization.

Support activities such as, business infrastructure, human resource management, technology development, and procurement (sourcing) provides the inputs and infrastructure required by the primary activities, in value-chain analysis.

The scope of a corporation's operations refers to the size of its operations.

Which of the following is a special ability of a company that competitors find extremely difficult to equal?

________ is the process of dividing a company's activities into primary and support activities and identifying those that create value for customers

Which of the following is considered as a primary activity in an organization?

According to value-chain analysis, marketing and sales are considered as_____.

Which of the following is considered as a support activity in an organization?

) A ________ strategy typically increases the cost structure for international companies and forces them to charge higher prices to recover such costs.

A strategy of adapting products and their marketing strategies in each national market to suit local preferences is referred to as a ________ strategy

Companies that produce entire inventories of products or components in one or very few optimal locations are most likely to follow a ________ strategy.

Companies that typically design promotional campaigns and advertising strategies at their headquarters are most likely to follow a ________ strategy.

Global products are most commonly seen in industries where there is ________.

A ________ strategy can create cost savings due to product and marketing standardization

The main benefit of a multinational strategy is that it allows companies to______.

Organic growth refers to an organization's corporate strategy that relies on growth ________.

A strategy designed to reduce the scale or scope of a corporation's business is called a _______ strategy

A retrenchment strategy is designed to ________.

A company that is closing factories with unused capacity and laying-off workers is most likely following a ________ strategy.

A company that is selling unprofitable business units is most likely following a ________ strategy.

Which of the following strategies is designed to increase the scale or scope of a corporation's operations?

Which of the following strategies is used when Ryanair engages in aggressive cost cutting in order to be Europe's leading low-cost airline?

A business-level strategy in which a company exploits economies of scale is called a ________.

Decreasing levels of customer loyalty to an organization's products is a major disadvantage of the ________ strategy.

A ________ strategy is one in which a company designs its products to be perceived by buyers as unique throughout its industry.

What strategy is used when Noritake compares the ceramic tableware it makes from common tableware by emphasizing its superior quality?

Which of the following is a characteristic based on which products are typically  differentiated?

A ________ strategy is one in which a company emphasizes on serving the needs of a narrowly defined market segment by being the low-cost leader, differentiating its product, or both.

A ________ strategy often means designing products and promotions aimed at consumers who are either dissatisfied with existing choices or who want something distinctive.

A(n) ________ strategy deals with the primary and supports activities in an organization that create value for customers.

Which of the following is a primary activity that creates value for Beanstalk's customers?

Which of the following is a support activity that creates value for Beanstalk's customers?

The strategy that Beanstalk would most likely want to follow is called a ________ strategy

TeleToys recently opened eighteen new toy stores in Brazil. This move can best be described as a ________ strategy.

The closing of TeleToys' Australian men's clothing line can best be described as a(n) ________ strategy.

Free-market economies tend to levy high taxes on business profits whereas socialist economic systems normally levy lighter taxes

A multinational strategy should allow a company to charge higher prices and/or gain market share.

A global strategy entails having a separate strategy for each nation in which a company markets its products.

A multinational strategy is best suited to industries in which price competitiveness is a key success factor

The main benefit of a multinational strategy is that it allows companies to monitor buyer preferences closely in each local market

A global strategy does not allow a company to modify its products except for the most superficial features.

A growth strategy is designed to reduce the scale or scope of a corporation's operations.

A joint venture is an example of a growth strategy of an organization.

Corporations that reduce the scale of their operations by laying off managers and salespeople in national markets that are not generating adequate sales revenue are using a stability strategy.

The purpose of a combination strategy is to mix growth, retrenchment, and stability strategies across a corporation's business units

A low-cost leadership strategy typically requires a company to have a large market share.

Companies that pursue the low-cost leadership position also try to contain administrative costs and the costs of activities, including marketing, advertising, and distribution

A differentiation strategy is often implemented when a company wants to exploit economies of scale to have the lowest cost structure.

A focus strategy works best with mass-marketed products aimed at price-sensitive buyers

Decentralized decision-making concentrates decision making at a high organizational level in one location, such as at headquarters

Companies involved in more than one line of business must first formulate a ________ strategy

Stability is designed to ________.

What strategy involves a company working on serving the needs of a narrowly defined market segment?

The way in which a company divides its activities among separate units and coordinates activities among those units is referred to as ________.

________ decision making occurs at a high organizational level in one location, such as an organization's headquarters.

________ decision making disperses decisions to lower organizational levels, such as to international subsidiaries.

Decentralized decision making is beneficial when ________.

The lines of authority in an organization that run from top management to individual  employees and specify internal reporting relationships is called ________.

Beanstalk managers know that the drawback of such an adaptive strategy is that it ________.

Which of the following strategies should TeleToys follow if it wants buyers to perceive its products as unique?

Which of the following features is TeleToys least likely to use in order to create a perception of having unique products?

TeleToys' organizational structure can best be referred to as a(n) ________ structure

Decentralization can help foster participative management practices

In an International Area Structure, a general manager is assigned to each country or region, and each geographic division operates as a self-contained unit, with decision making the responsibility of the country or regional managers.

An international division structure reduces the authority of country managers in an

organization's subsidiaries

A main goal of the global product structure is to bring together geographic and product area managers in joint decision making

A global matrix structure is an organizational structure that divides worldwide operations according to a company's product areas.

The main purpose of self-managed teams is to help break down barriers between departments.

A(n) ________ structure separates domestic from international business activities by creating a separate global branch with its own manager.

An organizational structure that organizes a company's entire global operations into countries or geographic regions is referred to as a(n) ________ structure.

A(n) ________ structure is best suited to companies that treat each national market as unique due to the vast cultural, political, or economic differences between nations.

Which of the following is an advantage of a company with an international area structure?

An organizational structure that splits the chain of command between product and area divisions is referred to as a(n) ________ structure.

A team in which employees from a single department take on responsibilities of their former supervisors is called a ________ team.

________ teams are self-managed teams that help reduce waste in the production processes of many manufacturing companies.

A ________ team is one composed of employees who work at similar levels in different operative departments in an organization

________ teams can help break down barriers between departments and reorganize operations around processes in an organization.

110) A team of top managers from both headquarters and international subsidiaries who meet to develop solutions to company-wide problems is referred to as a ________ team.