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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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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.

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Question 42

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

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Question 43

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

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

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

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

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?

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

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

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

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

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

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.

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

A small firm is likely to benefit significantly from strategic planning

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

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

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

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

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