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Question
Define and give examples of the two diversification strategies.
Answer
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Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations.
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When the correlation between dollar sales and dollar marketing expenditures has historically been low, market penetration is an appropriate strategy.
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Political, governmental, and legal factors can represent key threats or opportunities for both small and large organizations.
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IFRS standards comprise 25,000 pages, whereas GAAP standards comprise 5,000 pages.
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Forward integration strategy is especially effective when the availability of quality distributors is so limited as to offer a competitive advantage to those firms that integrate forward.
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In the United States, the population has been moving from the South and West to the Northeast and Midwest.
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McDonalds currently owns more than 50 percent of its restaurants.
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Mass communication and high technology have ________ in diverse cultures worldwide.
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Remaining solely domestic is an increasingly safer strategy for U.S. companies.
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It is predicted that, by 2025, over 18% of the population in the United States will be 65 years or older.
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Strategy implementation is often considered to be the most difficult stage in the strategic-management process because it requires personal discipline, commitment, and sacrifice.
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Contingency plans should be as simple as possible.
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With a divisional structure by customer, an organization can effectively cater to the requirements of clearly defined customer groups.
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Strategists should try to cover all bases by planning for all possible contingencies.
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Europeans are especially motivated by pay-for-performance, commission salaries, and objective measurement and reward systems.
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Since a combination strategy bears no risk, many organizations pursue a combination of two or more strategies simultaneously.
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A low value of the dollar means lower exports and higher imports.
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In socialist countries such as France, Belgium, and the United Kingdom, the only grounds for immediate dismissal from work is a criminal offense.
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Optimizing for tomorrow the trends of today is the purpose of strategic management.
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