Concepts in Strategic Management Concepts in Strategic Management Question Question 1 1. Save your time! Proper editing and formatting Free revision, title page, and bibliography Flexible prices and money-back guarantee ORDER NOW What are the two generic competitive strategies that Porter promotes as the means for outperforming other corporations in a particular industry? Answer Make sure you submit a unique essay Our writers will provide you with an essay sample written from scratch: any topic, any deadline, any instructions. 100% ORIGINAL ORDER NOW Competitive scope and differentiation Diversification and concentration Lower cost and competitive scope Lower cost and differentiation 4 points Question 2 1. When Dell Computer's customers use the Internet to design their own computers, this demonstrates which manufacturing strategy? Answer Continuous improvement Mass production Job shop Mass customization 4 points Question 3 1. Which external growth strategy involves two or more corporations joining in a stock exchange and from which only one corporation survives? Answer Mergers Strategic alliances Diversification Acquisitions 4 points Question 4 1. Wal-Mart, McDonald's, and Alamo are all examples of companies following which of Porter's competitive strategies? Answer Differentiation Cost leadership Differentiation focus Competitive advantage 4 points Question 5 1. According to Porter, what is the competitive strategy that reflects the ability of the corporation or its business unit to design, produce, and market a comparable product more efficiently than its competitors? Answer Competitive scope Differentiation Concentration Lower cost 4 points Question 6 1. When Smith & Wesson puts its name on others' products like men's cologne, it is using which marketing strategy? Answer Demand pricing Brand pricing Line extension Penetration extension 4 points Question 7 1. What is the technique that illustrates how management can match the external opportunities and threats with its strengths and weaknesses to yield four sets of strategic alternatives? Answer IFAS Table EFAS Table SFAS Table TOWS Matrix 4 points Question 8 1. What is a corporate strategy that cuts across divisional boundaries to build synergy across business units to improve the competitive position of one or more business units? Answer Vertical strategy Horizontal strategy Hierarchical strategy Portfolio strategy 4 points Question 9 1. What is the first company to manufacture and sell a new product or service? Answer Opportunist First mover Cost leader Power broker 4 points Question 10 1. Which of the following is NOT one of the questions that management should raise in their attempt to assess the importance to the corporation of stakeholders' concerns? Answer Which stakeholder group should be represented on the board of directors? How will this decision affect each stakeholder? How much of what the stakeholders want are they likely to get under a certain alternative? What are the stakeholders likely to do if they don't get what they want? 4 points Question 11 1. List and describe four popular options for international entry. Answer 30 points Question 12 1. What is outsourcing? What are the seven major outsourcing errors that should be avoided?