Chapter 10

Question 1

Strategy

Answer 1

A comprehensive plan guiding resource allocation to achieve long term organization goals

Question 2

Functional Strategy

Answer 2

guides activities within one specific area of operations

Question 3

Core Competency

Answer 3

A special strength that gives an organization a competitive advantage

Question 4

Strategic Leadership

Answer 4

Inspires people to continually change, refine, and improve strategies and their implementaion

Question 5

SWOT Analysis

Answer 5

Examines organizational strengths and weaknesses and environmental opportunities and threats

Question 6

BCG Matrix

Answer 6

Analyzes business opportunities according to market growth rate and market share

Question 7

Downsizing Strategy

Answer 7

Decrease size of operations

Question 8

Porter’s 3 Competitive Strategies

Answer 8

1) Differentiation Strategy
2) Cost Leadership Strategy
3) Focus Strategy

Question 9

Differentiation Strategy

Answer 9

Seeks competitive advantage through uniqueness

Question 10

Cost Leadership Strategy

Answer 10

Seeks competitive advantage by operating with lower costs than competitors

Question 11

Focus Strategy

Answer 11

Concentrates on special market segment

Question 12

Two Types of Focus Strategy

Answer 12

1) Focused Differentiation

2) Focused Cost Leadership

Question 13

Focused Differentiation

Answer 13

Offers a unique product to a special market segment

Question 14

Focused Cost Leadership

Answer 14

Seeks the lowest cost of operations within a special market segment