Strategic Implementation (MIX)

Question 1

Strategy Implementation

Answer 1

Programs, Regulations, Budget

Question 2

Strategy Implementation requires a firm to establish:

Answer 2

• Annual Objectives
• Devise Policies
• Motivate Employees
• Allocate Resources

Question 3

Strategy Implementation includes:

Answer 3

• Developing a strategy-supportive culture
• Creating an effective organizational structure
• Redirecting marketing efforts
• Preparing budgets
• Developing and utilizing information systems
• Linking employee compensation to organizational performance

Question 4

Represents the results expected from pursuing certain strategies.

Answer 4

Long-Term Objectives

Question 5

Represents the actions to be taken to accomplish long-term objectives.

Answer 5

Strategies

Question 6

Gaining ownership or increased control over distributors or retailers.

Answer 6

Forward Integration

Question 7

Seeking ownership or increased control of a firm’s suppliers.

Answer 7

Backward Integration

Question 8

Seeking ownership or increased control over competitors.

Answer 8

Horizontal Integration

Question 9

Seeking increased market share for present products or services in present markets through greater marketing efforts.

Answer 9

Market Penetration

Question 10

Introducing present products or services into new geographic areas.

Answer 10

Market Development

Question 11

Seeking increased sales by improving present products or services or developing new ones.

Answer 11

Product Development

Question 12

Adding new but related products or services.

Answer 12

Related Diversification

Question 13

Adding new, unrelated products or services.

Answer 13

Unrelated Diversification

Question 14

Regrouping through cost and asset reduction to reverse declining sales and profit.

Answer 14

Retrenchment

Question 15

Selling a division or part of an organization.

Answer 15

Divestiture

Question 16

Selling all of a company’s assets, in parts, for their tangible worth.

Answer 16

Liquidation

Question 17

Strategies that stress cooperation among competitors are being used more. For collaboration between competitors to succeed, both firms must contribute something distinctive, such as technology, distribution, basic research, or manufacturing capacity.

Answer 17

Cooperation Among Competitors

Question 18

It is a popular strategy that occurs when two or more companies form a temporary partnership or consortium for the purpose of capitalizing on some opportunity.

Answer 18

Joint Venture/Partnering

Question 19

A ______ occurs when two organizations of about equal size unite to form one enterprise.

Answer 19

Merger

Question 20

An ___________ occurs when a large organization purchases (acquires) a smaller firm, or vice versa.

Answer 20

Acquisition

Question 21

It is the radical redesign of business processes to achieve major gains in cost, service, or time.

Answer 21

Reengineering

Question 22

It is an analytical method for achieving near-perfect results on a production lie.

Answer 22

Six Sigma

Question 23

It is an operational philosophy committed to
customer satisfaction and continuous improvement.It is committed to quality
and excellence and to being the best in all functions.

Answer 23

Total Quality Management (TQM)

Question 24

It is a technique that encourages participative decision making through shared goal setting at all organizational levels and performance assessment, based on the achievement of stated objectives.

Answer 24

Management by Objectives (MBO)