general business data bank

Question # 00004622 Posted By: spqr Updated on: 12/04/2013 01:35 PM Due on: 12/31/2013
Subject General Questions Topic General General Questions Tutorials:
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54. Research has shown that strategic thinking and planning positively affect a firm's performance and financial success.


55. Better-Than-The-Rest, Inc.'s ability to market its products better than its competitors is an example of its core competence.


56. Core competence is the plan of action that prescribes resource allocation and other activities for dealing with the environment.

57. The essence of formulating strategy is choosing how the organization will be identical to its key competitors in the industry.

58. Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

59. The interaction of Production and Sales working together to produce profit greater than the total of both working separately is an example of synergy.

60. The combination of benefits received and costs paid by the customer refers to value.

61. Value occurs when the organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone.

62. The administration and implementation of the strategic plan is strategy execution.

63. SWOT analysis includes a review of the internal threats and opportunities.

64. Internal analysis examines overall organization structure, management competence and quality, and human resource characteristics.

65. Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.

66. The task environment sectors are the most relevant to strategic behavior and include the behavior of competitors, customers, suppliers, and the labor supply.

67. The bargaining power of customers is one of Porter's five competitive forces.

68. According to Porter, the bargaining power of the government is one of the five competitive forces affecting an organization's competitive environment.

69. The Internet tends to lower the bargaining power of suppliers.

70. With the leveling force of the Internet and information technology, it has become easier for many companies to find ways to distinguish themselves from their competitors.

71. Differentiation, cost leadership, and focus are three of Porter's competitive strategies.

72. For successful execution, alignment of everyone in the organization must occur.

73. The final stage of the strategic management process is execution of the strategy.

74. Opportunities are characteristics of the internal environment that have the potential to help the organization achieve or exceed its strategic goals.

75. As a result of the growth of the Internet, barriers to entry into new markets are now much higher than ever before.

76. The concentration of suppliers and the availability of substitute suppliers are significant factors in determining supplier power.

77. Cost leadership firms are more likely to reward employee innovation than differentiation firms.

78. A top-down management style has been identified as a silent killer of strategy.

79. A firms' leadership is responsible for recruiting, selecting, training, transferring, promoting, and laying off employees.

80. Strategic thinking is more important for profit businesses than for non-profit organizations.

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  1. Tutorial # 00004420 Posted By: spqr Posted on: 12/04/2013 02:00 PM
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