Strategic in Action - Lesson 5

Question 1

4 Types of Strategies

Answer 1

-Integration Strategies
- Intensive Strategies
- Diversification Strategy
- Defensive Strategy

Question 2

you gain control or ownership of another company.

Answer 2

Integration Strategy

Question 3

2 types of integration strategies

Answer 3

Vertical and horizontal integration

Question 4

seeking ownership or increasing control of a firm’s supplier. (the company own its supplier)(own businesses above the supply chain.)

Answer 4

Backward Integration

Question 5

gaining ownership or increased control over distributions or retailer. (own businesses below the supply chain.)

Answer 5

Forward Integration

Question 6

when you own your competitor’s business.

Answer 6

Horizontal Integration

Question 7

3 parts that under Intensive strategies

Answer 7

-Market penetration
- Market development
- Product development

Question 8

seeking increased market share for existing products or services in existing markets through greater market effort.

Answer 8

Market penetration

Question 9

introducing existing products into new geographic areas.

Answer 9

Market development

Question 10

new product or innovating existing product.

Answer 10

Product development

Question 11

2 types of diversification strategies

Answer 11

• Related Diversification
• Unrelated Diversification

Question 12

adding new but related products or services.

Answer 12

Related diversification

Question 13

adding new but unrelated products or services.

Answer 13

Unrelated diversification

Question 14

3 types of defensive strategies

Answer 14

• Retrenchment
• Divestiture
• Liquidation

Question 15

regrouping through cost and asset reduction to reverse declining sales and profit. (closing)

Answer 15

Retrenchment

Question 16

Selling a division or part of an organization (selling)

Answer 16

Divestiture

Question 17

selling all of company’s assets, in parts for their tangible worth. declare bankruptcy (closing and selling)

Answer 17

Liquidation

Question 18

Porter’s Generic Strategies

Answer 18

• Cost leadership
• Differentiation strategies
• Focus Strategies

Question 19

producing standardized products at a very low per unit cost for consumers who are price-sensitive.

Answer 19

Cost leadership

Question 20

Means producing products and services considered unique across the country.

Answer 20

Differentiation Strategies

Question 21

Producing products and services that fulfill the needs of niche markets or unserved.

Answer 21

Focus Strategies