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Exam 6: Strategic Management: How Exceptional Managers Realize a Grand Design

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Question 41

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Which of the following is not a question that Bossidy and Charan believe a strong strategic plan must address?

A) How will deviations from the plan be handled?
B) What is the assessment of the external environment?
C) What are the critical issues facing the business?
D) Can the business execute the strategy?
E) Are the short term and long term balanced?

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Question 42

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Organizations may turn to the strategic-management process after a crisis.

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Question 43

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The BCG matrix is a means of evaluating strategic business units on the basis of both their business growth rates and their profitability.

The use of hedging to manage the cost of aviation fuel is an example of trend analysis.

Computer technology corporation Dell recently acquired Quest software, an IT management software provider, in order to expand upon its software expertise and offerings.Dell is pursuing a(n) ______ strategy.

Many good mission statements include descriptions of an organization's customers, as well as its major products or services.

A strategy is a large-scale action plan that sets direction for an organization.

Strategic conservation attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company.

A sustainable competitive advantage is the ability of an organization to produce goods or services more effectively than its competitors and outperform them.

Cash cows in the BCG matrix have slow growth but high market share.

Guthrie Community College has done a SWOT analysis and discovered that the number of college-bound high-school juniors in its state has grown by nearly 20% in the past few years.This is a strength for Guthrie.

A small firm is likely to benefit significantly from strategic planning

When analyzing the "O" in SWOT analysis, a manager might take note of

Describe the strategic management process.Explain what the "feedback loop" is and why it is important.

Which of the following should be included in a good vision statement?

Luxury carmaker Rolls-Royce has a focused-differentiation strategy.

After the assessment of current organizational performance, the subsequent explanation of how its mission is to be accomplished is called a comprehensive strategy.

Milo owns and manages a small bike repair store.In order to determine if strategic planning will be likely to help his business, Milo should primarily assess

Consumers can use a national company called Service Magic to receive bids from quality providers of a variety of services, including home remodel, landscaping, plumbing, and housecleaning.Service Magic charges service providers for the leads it provides to them monthly.Which of the following is the source of Service Magic's strategic position?

Harvard Business School professor Michael Porter is a leading authority on competitive strategy.