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 ________.

The main reason strategic management is important is ______

 Strategic management involves only the planning function

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

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

 Defining the organizational mission forces managers to identify what ________.

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

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

 ________ are positive trends in the external environment.

A study of the external environment allows a manager to understand the ________ and ________ for the organization.

An organization's financial, physical, human, and intangible assets are known as its

The major value-creating capabilities of the organization are known as its ________.

The combined external and internal analyses are called ________.

After the SWOT analysis is complete, managers are ready to _______

The final step in the strategic management process allows an organization to understand the

The first step in the strategic management process is analyzing the external environment.

Evaluating an organization's intangible assets is part of conducting an internal analysis in the strategic management process.

A SWOT analysis includes an analysis of an organization's environmental opportunities and threats.

Top-level managers are responsible for ________ strategies.

Lower-level managers are responsible for ________ strategies.

What are the three main types of corporate strategies?

A ________ strategy is when an organization expands the number of markets served or the products offered.

Organizations grow by using strategies of ________.

An organization that grows using ________ focuses on its primary line of business and increases the number of products offered or markets served in this primary business.

In ________ integration, the organization becomes its own supplier so it can control its inputs.

 In ________ integration, the organization gains control of its outputs by becoming its own distributor.

In ________, a company grows by combining with competitors.

First Abu Dhabi Bank (FAB) completed the acquisition of 100% of Bank Audi's Egypt, This is an example of ________.

________ takes place when a company combines with other companies in different industries.

The Arab Contractors an Egyptian regional construction and contracting company has remained steady despite the entry of other companies into the industry. the Arab Contractors is likely pursuing a ________ strategy.

 ________ strategies address declining performance through retrenchment and turnaround strategies.

When a firm integrates backward, it becomes its own distributor.

A stability strategy is an organizational strategy in which an organization maintains the status quo.

A firm's ________ strategy is an organizational strategy for how it will compete in its primary or main market.

A cost leadership strategy requires a firm to ________.

Wizz air offers what it calls "no frills" flights: no snacks or meals on flights, small planes that fly to smaller airports away from the city centers. Wizz Air is likely following a ________ strategy.

A company that competes by offering unique products that are widely valued by customers is following a ________.

Apple is an example of a company that was ________.

Ferrari sells very expensive, stylish, high-quality cars to very wealthy people.

Ferrari follows a ________ strategy

Functional-level strategy directly supports the ________.