Daily 4

Question 1

Environmental Uncertainty

Answer 1

lack of information needed to understand or predict the future

Question 2

Scenario

Answer 2

a narrative that best describes a set of future conditions. Best-case, worst-case

Question 3

Forecasting

Answer 3

method for predicting how variables will change the future

Question 4

Benchmarking

Answer 4

the process of comparing an organizations practices and technologies with those of other companies

Question 5

Mergers

Answer 5

where one or more companies combined with another

Question 6

Acquisitions

Answer 6

one firm buys another

Question 7

Divestitures

Answer 7

a firm sells one or more businesses

Question 8

Defender

Answer 8

dominating a narrow product or service market segment

Question 9

Analyzer

Answer 9

exploiting new opportunities at a relatively early stage while maintain a base traditional products or services

Question 10

Prospector

Answer 10

identifying and exploiting new opportunities quickly

Question 11

Reactor

Answer 11

firms that do not practice any distinct overall strategy