Man 488 Midterm

Please circle or highlight the correct answer.

1.) | A company's strategy consists of | actions to develop a more appealing business model than rivals. |

| plans involving alignment of organizational activities and strategic objectives. |

| offensive and defensive moves to generate revenues and increase profit margins. |

D | competitive moves and approaches that managers have developed to grow the business, attract and please customers, conduct operations, and achieve targeted objectives. |

| its strategic vision, its strategic objectives, and its strategic intent. |

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2.  | Crafting strategy requires A | a collaborative effort that includes managers in various position at various organizational levels. |

| executive management involvement only. |

| participation by all employees. |

| a collaborative effort between the CEO and board members only. |

| All of these. |

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3.  | A strategic group | consists of those industry members that are growing at about the same rate and have similar product line breadth. |

| includes all rival firms having comparable profitability. |

C | is a cluster of industry rivals that have similar competitive approaches and market positions. |

| consists of those firms whose market shares are about the same size. |

| is made up of those firms having comparable profit margins. |

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4.  | Which of the following are common shortcomings of company vision statements? A | Too broad, vague or incomplete, bland/uninspiring, not distinctive, and too reliant on superlatives |

| Unrealistic, unconventional, and unbusinesslike |

| Too specific, too inflexible, and can't be achieved in five years |

| Too broad, too narrow, and too risky |

| Not customer-driven, out-of-step with emerging technological trends, and too ambitious |

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5.  | The primary activities included in the value chain include A | supply chain management, operations, distribution, sales and marketing, and customer...