Competitive Advantage and Strategies
Competitive Advantage and Strategies II
What Managers Do During the Six Steps
Describe the Three Types of Corporate Strategy
Random Questions
100

A(n) ___________ describes how a business will compete in its primary market.

competitive strategy 

100

An organization that initially brings a product innovation to the market is known as the __________.

first mover

100

______ are positive trends in the external environment.

Opportunities 

100

Top level managers are responsible for ___________ strategies.

corporate

100

A _______ describes the rationale of how a company is going to make money.

business model

200

In an organization, the single independent businesses which formulate their own competitive strategies are known as _________.

strategic business units (SBUs)

200

A cost leadership strategy requires a firm to maintain the ______ cost structure. 

lowest

200

The combined external and internal analyses are called ___________.

SWOT analysis

200

Lower-level managers are responsible for _________ strategies. 

functional

200

Managers perform an external analysis so that they know about what the ____________ is doing.

competition 

300

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

differentiation 
300

In the Boston Consulting Group (BCG) matrix, a business unit that has a low anticipated growth rate, but a high market share is known as a _________.

cash cow

300

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

core competencies

300

A(n) __________ strategy determines what businesses a company is in or wants to be in, and what it wants to do with those businesses.

corporate 

300

In ________ integration, a company grows by combining with competitors. 

horizontal

400

The ___________ strategy involves a cost advantage or a differentiation advantage in a narrow segment.

focus

400

Functional-level strategy directly supports the _________ strategy.

competitive

400

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

resources

400

A(n) __________ strategy is when an organization expands the number of markets served or the products offered.

growth

400

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

threats

500

A firm that is "________________" cannot develop a cost or differentiation advantage.

stuck in the middle

500

In the Boston Consulting Group (BCG) matrix, a _________ enjoys a high anticipated growth rate and a high market share.

star

500

The final step in the strategic management process allows an organization to understand the _______________ of the strategies used.

effectiveness

500

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.

concentration 

500

The three types of corporate strategies are growth, stability, and ________.

renewal