TEST 1 CHAPTER 3 PART 2

Question 1

Method for predicting how variables will

change the future

Answer 1

Forecasting

Question 2

Creating supplies of excess resources in case of unpredictable needs

Answer 2

Buffering

Question 3

Leveling normal fluctuations at the boundaries of the environment

Answer 3

Smoothing

Question 4

Strategies that an organization acting on its

own uses to change some aspect of its current environment

Answer 4

Independent strategies

Question 5

Strategies used by two or more organizations working together to manage the external environment

Answer 5

Cooperative strategies

Question 6

An organization’s conscious efforts to

change the boundaries of its task environment

Answer 6

Strategic maneuvering

Question 7

Entrance to a new market or industry with

an existing expertise

Answer 7

Domain selection

Question 8

A firm’s investment in a different product,

business, or geographic area

Answer 8

Diversification

Question 9

One or more companies combine with

another

Answer 9

Mergers

Question 10

One firm buys another

Answer 10

Acquisitions