Organization’s Portfolio of Business – Flashcards
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A _____ is one of a set of specialized interdependent activities performed within an organization?
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Functional area.
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Bruce was planning to open a coffee shop to compete with the national chains. He planned to serve freshly brewed premium coffee in a pleasant environment along with an assortment of snacks and coffee-related merchandise. How would you rate Bruce's level of competency in this business model?
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Bruce is only doing what is expected. He has failed to differentiate himself.
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When using a SWOT analysis, a weakness is an issue that is?
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Negative, Internal.
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A major difference between a business plan and a marketing plan is that a Business plan will include _____ while a marketing plan will not?
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Strategies for each functional area.
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In class, we discussed several trends in organizational structure. One of them, the _____ is the result of eliminating middle management positions in order to shorten lines of communication within the organization?
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Trend toward flatter organizations
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Which level of the organization is typically responsible for determining the makeup of the organization's portfolio of business?
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Corporate level.
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A major difference between a business plan and a market planning is that a Business plan will include _____ while a Marketing plan will not?
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Strategies for each functional area.
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BruceCo is a coffee shop selling customer-brewed coffee to walk-in customers. In order to boost sales, Bruce started a business selling music CD's on the Internet. This is an example of the _____ growth strategy?
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Diversification.
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When developing contingency plans, the _____ scenario assumes that everything that could go either right or wrong goes wrong?
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Worse case.
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A marketing organization that using (the) _____ can be structured around geographic territories, product groups or customers?
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Sales specialization.
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The SWOT analysis can be used to develop marketing strategies by _____?
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Building on a strength.
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BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the market while BruceCo controls only 1% of the market. BruceCo is measuring _____?
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Market Share.
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According to a Harvard Business Review article by Nohra, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies have clearly stated and focused _____?
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Strategies.
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When using a SWOT analysis, a threat is an issue that is?
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Negative External.
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A _____ consist of a set of related products and market?
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Business Unit.
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Which level of organization is typically responsible for determining the organization's mission and or vision?
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Corporate level.
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Which level of the organization is typically responsible for setting the direction of products and markets in order to exploit value-creating opportunities?
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Business Unit Level.
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When developing contingency plans, the _____ scenario represents your best estimate of what actually will happen?
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Most likely case.
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Sales data is frequently used as a measure of marketing plans. Which of the following is NOT a commonly used sales measure?
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Advertising expenditures.
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BruceCo planned to introduce a new line of herbal coffees in its coffee shop. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of the people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffe, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend. Which of the following would be an outcome measure associated with the plan?
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The number of people who walked through the store each day.
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When we say a measure is ______ we mean that is should involve a number?
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Quantifiable.
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BruceCo is a small coffee company. Recently, the surgeon general announced that students who consume massive amounts of coffee the night before tan examination tended to perform better than students who do not drink coffee. In terms of a SWOT analysis, this would be considered a(n) _____ for Bruce.Co?
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Opportunity.
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When using a SWOT analysis, an opportunity is an issue that is?
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Positive External.
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BruceCo is a small coffee company. They pride themselves on being friendly. Everyone employee is trained to greet their regular customers by name and the employee gets a bonus if a customer says something nice about the service. As a result, BruceCo's customers are very loyal. In terms of a SWOT analysis, this would be considered a(n) _____ for BruceCo.
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Strength.
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According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies develop a performance oriented _____?
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Culture.
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According to materials presented in class, a top-down budget?
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Is determined at the corporate level.
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The SWOT analysis can be used to develop marketing strategies by _____?
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Minimizing a weakness or a threat
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In its most basic form, any form of strategic planning is simply a matter of?
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Figuring out where you are currently, figuring out where you want to be in the future, and then developing a plan to get you where you want to be.
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The last stage in developing a market plan involves?
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Establishing the budget and the timetable.
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According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practice that really make a difference in a company's performance. For example successful companies maintain flawless operational _____?
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Execution.
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According to your instructor, if you can't live with the consequences of your _____ scenario, don't implement the plan?
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Worse case.
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The three phase of marketing management include?
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Developing the marketing plan, implementing the marketing plan, evaluating the results of the marketing plan.
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Sales data is frequently used as a measure in marketing plans. Which of the following are considered a commonly used sales measure?
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Sales in dollars, sales volume, and market share.
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BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend. Which of the following would be an outcome measure associated with the plan?
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The number of cups of the new blend sold each day.
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Which level of the organization is typically responsible for actually creating value for the organization?
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Functional area level.
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According to the material presented in class, there are two things you need to know about a number if you are planning on using it as a metric. One of them is?
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What is the trend?
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A marketing organization that using (the) _____ will have a set of marketing functions such as sales, advertising, research, for each product line?
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Product line organization.
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In class, we discussed several trends in organizational structure. One of them, the _____ reflects the desire to give employees who interact with customers the authority to solve problems without having to consult with a manager?
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Trend toward empowering employees.
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In class we discussed several trends in organizational structure. One of them, the _____ is the reason business schools incorporate so many group projects in their classes?
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Development of cross-functional teams.
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The product market growth matrix suggests four strategies based on customers and products. Which of the following is the riskiest of the basic strategies suggested by this approach?
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Diversification.
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What is the relationship between a SWOT analysis and an environmental scan?
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The environmental scan identifies issues that are relevant to the strategic planning process; the SWOT analysis evaluates key issues in terms of the organizations strengths and weaknesses.
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According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies tend to have flat and flexible _____?
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Organizational structures.
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When developing contingency plans, the _____ scenario assumes that everything that could go either right or wrong goes right?
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Best case.
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A _____ is the criteria against which progress toward a goal is measured?
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Metric.
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The product market growth matrix suggests four strategies based on customers and products. Which of the following is the least risky of the basic strategies suggested by this approach.
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Penetration.
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According to the material presented in class, an outcome measure?
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Tells you whether or not you achieved your goal.
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Developing a _____ involves identifying critical points in the plan, anticipating what could go right or what could go wrong and determining in advance what course of action you will take?
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Contingency plan.
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Which of the following is one of the two questions that should be answered when evaluating a marketing plan accord to the material presented in class?
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Are there things we could have done better or did we achieve our goals?
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The long-term strategic objective are not translated into specific, actionable tasks to be done by people in the organization successfully, will create a sustainable competitive advantage?
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Strategic planning.
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When using a SWOT analysis, a strength is an issue that is?
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Positive, internal.
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Bruce was planning to open a coffee shop to compete with the national chains. For a small fee, customers could create their own private blend of coffee. Customers were thrilled with this service. Not only did they pay to create their blends, but they delighted in bringing their friends in to taste these private brews. The friends would frequently purchase private blends of their own. How would you rate Bruce's level of competency with this business model?
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Bruce has developed a distinctive competency that will give him a competitive advantage.
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An organizational chart is a useful tool for understanding the structure of an organization. Specifically, the connections between the "boxes" in an organizational chart show patterns of _____ and _____ within the organization.
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Communication, accountability.
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Contrary to what you would expect, from a planning perspective?
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It is just as bad to exceed the goa as it is to fail to reach the goal.
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When we say a measure is _____ we mean that it relates directly to the goal it is intended to measure?
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Relevant.
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What is the relationship between the strategic planning that occurs at different levels in an organization?
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Lower-level strategic plans must fulfill what is called for a higher-level strategic plans.
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Bruce was planning to open a coffee shop to compete with the national chains He wanted to be more personal than the national chains so he asked his employees to greet regular customers by name and ask them if they would like their usual drink. He felt the national chains were focused on running the assemble line rather than on welcoming customers. How would you rate Bruce's level of competency in the business model?
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Bruce has established a point of difference that he might be able to exploit in the future.
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When we say a measure is _____ we mean that results can be determined soon enough to use the feedback in improving performance?
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Timely.
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When developing contingency pans, your instructor recommends developing a minimum of _____ contingencies?
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3.
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In a multi-market, multi-product firm such as the Nestle Corporation, what is the highest level at which strategic planning might take place?
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Corporate level.
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BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers, In order to boost sales, Bruce started selling CD's of the music played in the store. This is an example of the _____ growth strategy?
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Product development.
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A(n) _____ is a targeted level of performance that the planning entity wants to achieve?
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Objective.
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A _____ is a tool for evaluating an organization's internal and external strengths and weakness?
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SWOT analysis.
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According to the material presented in class, there are two things you need to know about a number if you are planning on using it as a metric. One of them is?
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Is it good or bad?
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According to the material presented in class, a bottom-up budget?
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Is developed by the managers responsible for implementing the plan.
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According to the material presented in class, a process measure?
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Measures intermediate steps that are thought to be necessary to achieving the goal, should only measure things you can control, tells you whether or not the plan is being executed well and is a diagnostic tool.
