Part 2

Question 1

knowing how to defend company secrets. Competitors are equally interested in the company’s secrets.

Answer 1

Counter Intelligence

Question 2

is a basis straightforward model in environmental scanning which helps the company in identifying four key elements: Strenght, weakness, opportunities and threats.

Answer 2

SWOT Analysis

Question 3

summarizes the purpose or the reason for the company’s existence. It tells what the company is now and what it is doing at the present.

Answer 3

Mission

Question 4

is what the company wants to become in the future. It serves as a challenge for the company. It visualizes the company’s future and takes a glimpse of what the organization will be like in a certain period. It answer the question: “Where do we want to go.”

Answer 4

Vision

Question 5

means building sustainable competitive advantage. It is the creation of a prolonged, unique strategy that will be difficult for competitors to be neither duplicated nor surpassed.

Answer 5

Formulating competitive strategies

Question 6

is the strategy of the company to expand its business into different products that are similar to current lines.

Answer 6

Horizontal integration

Question 7

is a strategy of a company to control the direct distribution of its product

Answer 7

Forward Integration

Question 8

is a strategy of a company to purchase the suppliers in order to reduce dependency.

Answer 8

Backward Integration

Question 9

It is the development of new products for new markets. This is risky because both the product anhd market are untested yet.

Answer 9

Diversification

Question 10

It comprises of decisions that give the organization what industry it will be and not be in and how it will allocate specific resources.

Answer 10

Corporate Strategy