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Exam 5: Strategic Management

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Question 21

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Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors.

A) True
B) False

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Question 22

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Critical to the forming of competitive advantages, _______________ are often based on developing, carrying, and exchanging information and knowledge through the firm's human capital.

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Question 23

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______________ assess factors external to the business that could enable a business to exist and/or prosper.

What are the most prominent factors that experience shows to affect the intensity of firm's rivalries

The best straegies, corporate and business, are based on a thorough SWOT analysis.

_____________ exists when an organization participates in multiple businesses that are in some way distinct from each other, as Taco Bell is from Pizza Hut.

________________ is seen when an organization is very clear about its mission and vision, and has a coherent, well-articulated strategy for achieving those.

An assessment of strengths and weaknesses occurs as a part of organizational analysis.

____________ exists when the interaction of two or more active activities, such as those in a business, create a combined effect greater than the sum of their individual effects.

Examples of business strategy include all the following EXCEPT:

When you can identify certain strengths that set an organization well apart from actual and potential competitors, that strength is considered a source of ______________ advantage.

Superiority in competitive advantage refers to all of the following factors EXCEPT:

A ______________ strategy refers to the strategy where competitive advantage is based on superior products or service.

A useful tool for taking stock of organizational capabilities is the ______________.

_____________________ answers strategy questions related to "what business or businesses should we be in?"

_______________ refers to the strategy where competitive advantage is based on superior products or service.

The purpose of diversification is:

_______________ tells managers how they should go about putting the desired strategy into action.

____________________focuses on how a given business needs to compete in order to be effective.

The firm's capacity to deploy resources that have been purposely integrated to achieve a desired end state are called _____________.