MG 495MG 495 Final 2022/2023/short answer questions from Chapter 7 - 11

Instructions The examination addresses the core learning outcomes of the course. The exam is completed during Unit 7. There will be 8 essay/short answer questions from Chapter 7 - 11 on the exam; however, you only have two (2) hours to take the exam, so please plan accordingly. The exam is open book and open notes. Each question on the exam is worth 25 points. Total points for the exam are 200. Attempt History Attempt Time Score LATEST Attempt 1 107 minutes 200 out of 200 Score for this quiz: 200 out of 200 Submitted Dec 3 at 1:04pm This attempt took 107 minutes. Question 1 Not yet graded / 25 pts Discuss the two basic growth strategies. Your Answer: Growth strategies are the most widely pursued corporate directional strategies because they are designed to increase sales, profits, assets, or a combination of all three. Two basic growth strategies include CONCENTRATION growth and DIVERSIFICATION growth. Concentration includes vertical and horizontal growth. Vertical Growth - can be achieved by taking over a function previously provided by a supplier or distributor. The company, in effect, grows by making its own supplies and/or by distributing its own products. Horizontal Growth - A firm can achieve horizontal growth by expanding its operations into other geographical locations and/or by increasing the range of products and services offered to current markets. Diversification includes concentric and conglomerate.