What is the primary question managers ask when considering business-level strategy?
Explanation
This question focuses on identifying the central strategic question that guides decision-making at the business-unit level, distinguishing it from corporate and functional levels.
Other questions
What is the term for the set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals?
Which of the following refers to what sets an organization apart from others and provides it with a distinctive edge in the marketplace?
What are the four key elements that companies develop strategies to incorporate for achieving competitive advantage, as illustrated in Exhibit 8.1?
Which level of strategy pertains to the organization as a whole and the combination of business units and product lines that make up the corporate entity?
The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as what?
What is the term for a business division that has a unique mission, product line, competitors, and markets relative to other units in the corporation?
In the BCG matrix, a business unit that has a large market share in a rapidly growing industry is called a what?
According to the BCG matrix, a business unit with a small share of a slow-growth market that provides little profit is known as a what?
What is the corporate-level strategy of moving into new lines of business called?
When an organization expands into a totally new line of business, such as General Electric entering the media industry, it is implementing a strategy of what?
Which of Porter's five competitive forces is affected by factors such as capital requirements and economies of scale?
According to Porter, a company that aggressively seeks efficient facilities, pursues cost reductions, and uses tight cost controls is employing which competitive strategy?
A differentiation strategy, as described by Porter, can help a company reduce rivalry with competitors and fight off the threat of substitute products primarily because of what factor?
What type of global corporate strategy treats the world as a single global market and standardizes product design and advertising?
When a company chooses a multidomestic strategy, how does it handle competition in each country?
A transnational strategy seeks to achieve a balance between which two competing goals?
What is meant by the concept of 'embeddedness' in the context of strategy execution?
According to Exhibit 8.9, what is the single largest contributing factor to the failure of strategy execution, accounting for 39 percent of failures?
Which of the following is NOT listed as one of the primary tools managers use to implement strategy effectively, as shown in Exhibit 8.10?
The chapter states that a recent article referred to an innovative, adaptive company as the 'anti-Kodak.' What strategic failure at Kodak prompted this comparison?
What is the term for a plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization’s goals?
Which functional-level strategy would be appropriate for a company's HR department if the business has adopted a differentiation strategy with rapid growth of new products?
What company is mentioned as an example of a successful focused cost leadership strategy for flying people from small cities to tourist destinations?
The strategic management process, as illustrated in Exhibit 8.3, begins with which step?
How many stores did Blockbuster have at its peak, according to the chapter's introduction?
A survey by McKinsey Quarterly found that what percentage of executives at companies with no formal strategic planning process were dissatisfied with their company's strategy development?
What term describes something an organization does especially well in comparison to its competitors, such as superior R&D or exceptional customer service?
According to the chapter, what was the motivation for food company Kraft to buy Cadbury?
The chapter gives an example of the weak economy being an external threat to FedEx. This would be categorized under which part of a SWOT analysis?
In the BCG matrix, what is the defining characteristic of a 'cash cow'?
The strategy of vertical integration means a company expands into businesses that do what?
What company is provided as an example of using a differentiation strategy with products like the iPhone and iPad?
According to the chapter, a focus strategy combined with a cost leadership approach would be an example of which quadrant in Porter's competitive strategies model?
Which company, known for its warehouse club model, is discussed in the 'Case for Critical Analysis' as having a unique corporate culture that values employees with high wages?
What is the average hourly wage at Costco, as stated in the 'Costco: A Different Path' case study?
A new trend that opens the strategy formulation process to all employees, using tools like online forums and wikis, is referred to in the 'Manager's Shoptalk' as what?
Which of Porter's five forces is most directly impacted when a company's customers can easily access a wide range of information about products, services, and competitors over the Internet?
What is the primary risk or disadvantage of a globalization strategy?
As described in the chapter, the first step toward a greater international presence for a domestically focused company is typically which strategy?
What was the annual salary of Costco CEO Craig Jelinek, as cited in the 'Case for Critical Analysis'?
According to the chapter, a key factor that distinguishes winners from losers in business, based on a five-year study called the 'Evergreen Project,' is what?
Which of the following describes the leadership and organizational characteristics typically associated with a differentiation strategy?
In the FedEx Corporation case example, what was one of the primary weaknesses identified in the SWOT analysis?
What company is cited as having pioneered career apparel for women but later declined due to a failure to latch onto a strategy to keep the line relevant as baby boomers retired?
What is the term for the process of using wikis and other online tools to allow all employees the opportunity to comment and make suggestions for changes to strategy?
According to the chapter, why did FedEx unveil a restructuring plan in late 2012 that planned for a 1.7 billion dollars improvement in profitability?
What type of business-level strategy is employed by a company that concentrates on a specific regional market or buyer group?
According to the 'Manager's Shoptalk', what company turned its existing strategy planning process, called Blueprint, into an online platform open to 8,000 employees to crowdsource strategy?
In the context of strategy execution, the ability to influence people to adopt new behaviors needed for putting the strategy into action is defined as what?