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Question
A standing plan is ________.
A) an ongoing plan that provides guidance for activities performed repeatedly
B) a plan that stands in place of a preferred plan in case of the failure of the latter
C) a one-time plan specifically designed to meet the needs of a unique situation
D) a flexible plan that sets out general guidelines for company strategy
Answer
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Related questions
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Kiva Systems, manufacturer of robots used in flexible automation systems, demonstrates the power of ________ by "teaching" its robots to dispose of used cardboard and to assist in gift wrapping for e-commerce warehouse fulfillment.
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B) inventory management
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A retrenchment strategy is a short-run renewal strategy that helps an organization stabilize operations, revitalize organizational resources and capabilities, and prepare to compete once again.
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________ should be sold off or liquidated as they have low market share and low growth potential.
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B) Stars
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As smartphone cameras improved, consumers turned away from traditional cameras. Polaroid lost market share and finally realized their product was no longer desired. At that point, Polaroid would be considered a ________ in the BCG matrix.
A) question mark
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When Stratasys began making 3D printers in 1988, the future of this new invention was unknown but expected to grow. Stratasys was one of a handful of producers of these printers. According to the BCG matrix, Stratasys was a ________.
A) cash cow
B) question mark
C) dog
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In the BCG matrix, a ________ enjoys a high anticipated growth rate and a high market share.
A) question mark
B) star
C) cash cow
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Joe's Hardware bought Moe's hardware on the other side of town. This is an example of ________.
A) backward integration
B) forward integration
C) lateral integration
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In a short essay, describe how managers can effectively plan when the external environment is continually changing.
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Qualitative data includes information about the number and cost of warranty work.
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Business intelligence is the same thing as competitor intelligence
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Environmental scanning involves monitoring the firm's pollution emissions.
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The ________ Act makes it a crime in the United States to engage in theft of a trade secret.
A) Sarbanes-Oxley
B) Patriot
C) Economic Espionage
D) Industrial Espionage
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A) threat until the patent expires
B) opportunity during the time of the patent protection
C) weakness because the patent cannot be renewed
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Q:
When an organization is analyzing its labor supply, it is studying its ________.
A) regulatory environment
B) internal environment
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In a short essay, explain strategic management and why it is important.
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Strategic management helps coordinate the efforts of all department and functional areas of an organization.
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What is a strategic disadvantage of being a first mover?
A) least opportunity to build customer loyalty
B) risk of competitors imitating innovations
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D) no control over resources
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A) first mover
B) clicks-and-bricks
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How can an organization develop strategic flexibility?
A) It should commit resources only after thorough planning.
B) It should ignore mistakes.
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D) It should have multiple alternatives when making strategic decisions.
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A) Strategic leadership
B) Strategic management
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D) Strategic flexibility