Mgmt 3013 Exam 2 – Pappas Questions and Answers 100% Pass

Mgmt 3013 Exam 2 – Pappas Questions and Answers 100% Pass Strategy - A ______ is a large-scale action plan that sets the direction for an organization. Threat of substitute products - Which one of the following is part of Porter's model for industry analysis? their share of the market - The BCG matrix is a means of evaluating strategic business units on the basis of their business growth rates and Execution - ______ consists of using questioning, analysis, and follow-through in order to mesh strategy with reality, align people with goals, and achieve results promised. managers from all parts of the organization - Effective strategic management involves To provide develop a sustainable competitive advantage - Which of the following would be considered a reason for adopting strategic management and strategic planning? 2Brittie Donald, All Rights Reserved © 2025 Conduct a trend analysis - Which of the following is not a stage in the strategic- management process? growth, stability, and defensive. - The common grand strategies are Retrenchment - A grand strategy that involves reduction in the organization's efforts is the ______ strategy. Strategic formulation - The process of choosing among different strategies and altering them to best fit the organization is called Strategic control - ______ consists of monitoring the execution of strategy and making adjustments, if necessary. Competitive intelligence - Gaining information about one's competitors' activities so that you can anticipate their moves and react appropriately is called Environmental Scanning - Careful monitoring of an organization's internal and external environment to detect early signs of opportunities and threats that may influence the firm's plans is called SWOT analysis - A situational analysis is also known as organizational strengths - The skills and capabilities that give the organization advantages in executing strategies in pursuit of its mission are known as 3Brittie Donald, All Rights Reserved © 2025 organizational opportunities - Environmental factors that the organization may exploit for a competitive advantage are known as Forecast - A vision or projection of the future is called a(n) contingency planning - Creation of alternative hypothetical but equally likely future conditions is called Threats of government interference - Which of the following is not one of the forces that affects industry competition, according to Porter's model for industry analysis? cost leadership, differentiation, cost focus, and focused differen