POM STUDY GUIDE QUESTIONS AND 100%
VERIFIED ANSWERS!!
Michael Porter defined ______ as an attempt to achieve sustainable competitive advantage
by preserving what is distinct about a company.
strategic positioning
Having (1) few needs and many customers, (2) broad needs and few customers, and (3)
broad needs and many customers are the three sources from which ______ emerges.
Multiple choice question.
strategic position
Which level of strategic management focuses on the organization as a whole?
corporate-level
True or false: It is common practice today for most small business owners to engage in
strategic planning.
f
The "feedback loop" in the strategic-management process involves:
revising actions if necessary.
Strategic positioning attempts to achieve sustainable competitive advantage by ______.
preserving what is distinctive about a company
When other companies cannot duplicate the value provided by a competitor, then the
competitor has established a(n) ______ competitive advantage.
sustainable
The 3 sources from which strategic position emerges are having ______.
few needs and many customers.
broad needs and many customers.
broad needs and few customers.
, Within a SWOT analysis, the letter "S" represents a company's ______.
strengths
Corporate-level strategy does which of the following?
-Answers questions such as "what business are we in?" and "what products and services shall we
offer?"
-Focuses on the organization as a whole
-Involves senior executives in planning
Precise work processes and high-ranking customer service are examples of organizational
______ in a SWOT analysis.
strengths
To be successful, strategic planning requires a company to have a ______ orientation.
long-term
What is an example of an organizational weakness based on a SWOT analysis?
Inferior product quality
the steps in the strategic-management process
1.) Establish the mission, vision, and values statements
2.) Asses the current reality
3.) Formulate corporate, business, and functional strategies
4.) Execute the strategies
5.) Maintain strategic control
After completing his competitor analysis, Justin realized his company was the only one
with all-natural ingredients in their pizza crust and could use this to get the pizza into more
health food grocery stores. What aspect of a SWOT analysis has Justin uncovered?
Opportunity
VERIFIED ANSWERS!!
Michael Porter defined ______ as an attempt to achieve sustainable competitive advantage
by preserving what is distinct about a company.
strategic positioning
Having (1) few needs and many customers, (2) broad needs and few customers, and (3)
broad needs and many customers are the three sources from which ______ emerges.
Multiple choice question.
strategic position
Which level of strategic management focuses on the organization as a whole?
corporate-level
True or false: It is common practice today for most small business owners to engage in
strategic planning.
f
The "feedback loop" in the strategic-management process involves:
revising actions if necessary.
Strategic positioning attempts to achieve sustainable competitive advantage by ______.
preserving what is distinctive about a company
When other companies cannot duplicate the value provided by a competitor, then the
competitor has established a(n) ______ competitive advantage.
sustainable
The 3 sources from which strategic position emerges are having ______.
few needs and many customers.
broad needs and many customers.
broad needs and few customers.
, Within a SWOT analysis, the letter "S" represents a company's ______.
strengths
Corporate-level strategy does which of the following?
-Answers questions such as "what business are we in?" and "what products and services shall we
offer?"
-Focuses on the organization as a whole
-Involves senior executives in planning
Precise work processes and high-ranking customer service are examples of organizational
______ in a SWOT analysis.
strengths
To be successful, strategic planning requires a company to have a ______ orientation.
long-term
What is an example of an organizational weakness based on a SWOT analysis?
Inferior product quality
the steps in the strategic-management process
1.) Establish the mission, vision, and values statements
2.) Asses the current reality
3.) Formulate corporate, business, and functional strategies
4.) Execute the strategies
5.) Maintain strategic control
After completing his competitor analysis, Justin realized his company was the only one
with all-natural ingredients in their pizza crust and could use this to get the pizza into more
health food grocery stores. What aspect of a SWOT analysis has Justin uncovered?
Opportunity
