Principles of Management, Chapter 5 – Flashcards
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What should be our strategy?
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Strategy formulation answers the question:
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Realized
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The different aspects of strategy as distinguished by Mintzberg include which of the following?
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10%-30%
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According to Mintzberg, the percent of intended strategy that becomes a reality is:
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Strategic focus
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While there are different schools of thought about how strategy comes about, researchers generally agree the common characteristic across successful organizations is:
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1) Customer service 2) Product quality 3) Unique style
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Superiority in competitive advantage refers to all of the following factors:
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Price
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For a differentiation strategy to be effective, the product difference should NOT be based on:
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It is an indication that the firm's managers have not made necessary choices about the business and its strategy.
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Straddling strategies as an approach to strategic management is not recommended for which reason:
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- Scientific capabilities - Knowledge - Capacity for innovation - Organizational routine
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Which of the following is considered an intangible resource?
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- Production equipment - Manufacturing plants - Formal reporting structures
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A firm's tangible resource includes which of the following?
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Service
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In the value chain, which of the following activities is deemed to add direct value to a firm?
