chapter 3

Question 1

Tactical goals

Answer 1

how to implement actions necessary to achieve the strategic goals

Question 2

Strategic goals

Answer 2

broad, general issues

Question 3

Operational goals

Answer 3

shorter-term issues associated with the tactical goals

Question 4

effective strategies

Answer 4

alignment between the organization and its environment and the achievement of strategic goals

Question 5

distinctive competence

Answer 5

An organizational strength possessed by only a small number of competing firms

Question 6

resource deployment

Answer 6

How an organization distributes its resources across the areas in which it competes

Question 7

Business-level strategy

Answer 7

alternatives an organization chooses as it conducts business in an industry (targeted/focused)

Question 8

Corporate-level strategy

Answer 8

alternatives an organization chooses as it manages its operations simultaneously across several industries

Question 9

SWOT

Answer 9

Strength, Weakness, Opportunity, Threat

Question 10

Portfolio management techniques

Answer 10

Methods that diversified organizations use to determine which businesses to engage in

Question 11

BCG Matrix: dogs

Answer 11

businesses that have a very small share of a market that is not expected to grow.

Question 12

BCG Matrix: Cash cows

Answer 12

businesses that have a large share of a market that is not expected to grow substantially

Question 13

BCG Matrix: Question marks

Answer 13

businesses that have only a small share of a fast-growing market.

Question 14

BCG Matrix: Stars

Answer 14

businesses that have the largest share of a rapidly growing market

Question 15

GE Business Screen (GE BS)

Answer 15

method of evaluating businesses along two dimensions: (1) industry attractiveness and (2) competitive position

Question 16

GE BS: Winner

Answer 16

High attractiveness, good - medium competitive position

Question 17

GE BS: Loser

Answer 17

low attractiveness, poor - medium competitive position

Question 18

GE BS: question mark

Answer 18

high attractiveness, poor competitive position

Question 19

GE BS: average business

Answer 19

medium attractiveness, medium competitive position

Question 20

GE BS: profit producer

Answer 20

low attractiveness, good competitive position

Question 21

tactical plan steps

Answer 21

1. address a number of tactical goals
2. specify resources and time frames
3. use of human resources

Question 22

tactical plan execution steps

Answer 22

1. evaluate every possible course of action
2. make sure that each decision-maker has the information/resources necessary
3. Vertical and horizontal communication and integration of activities must be present
4. monitor ongoing activities derived from the plan

Question 23

program

Answer 23

A single-use plan for a large set of activities

Question 24

project

Answer 24

A single-use plan of less scope and complexity than a program

Question 25

standing plan

Answer 25

Developed for activities that recur regularly over a period of time

Question 26

policy

Answer 26

A standing plan that specifies the organization’s general response to a designated problem or situation

Question 27

Standard Operating Procedures

Answer 27

A standard plan that outlines the steps to be followed in particular circumstances

Question 28

rules and regulations

Answer 28

Describe exactly how specific activities are to be carried out