Question 1

Middle and first-line managers and employee teams normally base tactical plans on the organization's __________ plan.

Accepted Answer

Tactical plans are developed to implement specific parts of a strategic plan, thus they are based on the organization's strategic plan.

Question 2

Ritzcamera.com sells quality camera and related products online and via telephone. The firm recently implemented a __________ plan to improve its order fulfillment and shipping system. Specifically, their warehouse was reorganized so that frequently ordered items were moved closest to the packing and shipping stations, and rarely ordered items were moved to the back of the warehouse.

Accepted Answer

The actions described are specific, short-term, and focused on improving operational efficiency, which are characteristics of a tactical plan.

Question 3

The need to address the issue of ________________ at Bombardier Aerospace began in earnest in 2001 when the aerospace industry took a nosedive.

Accepted Answer

The correct answer is employee engagement, as addressing this issue is a common response to industry downturns to maintain morale and productivity.

Question 4

At Bombardier, to help leaders and managers cascade business-critical information, the ____________ function provides are series of tools.

Accepted Answer

The communication function is responsible for providing a series of tools to help leaders and managers cascade business-critical information. This function focuses on ensuring that important messages are effectively transmitted throughout the organization.

Question 5

Strategic and tactical planning must be accompanied by __________ to ensure the plans are implemented as intended and to evaluate the results of those results.

Accepted Answer

Controls are necessary to ensure that strategic and tactical plans are implemented as intended and to evaluate the outcomes. They help in monitoring progress and making necessary adjustments.

Question 6

Jarrod Luke realizes that the forces affecting organizations are constantly changing. Thus, Luke sees __________ as a continuing and ongoing process.

Accepted Answer

Planning is viewed as a continuous and ongoing process because it involves constantly adapting to the changing forces that affect organizations. Jarrod Luke's realization that these forces are always in flux underscores the need for continuous planning to navigate and respond to these changes effectively.

Question 7

The generic strategies model consists of _____ basic business-level strategies that can be applied to a variety of organizations in diverse industries.

Accepted Answer

The answer of The generic strategies model consists of _____...

Question 8

The __________ strategy emphasizes competing with all other firms in the industry by offering a product that customers perceive to be unique.

Accepted Answer

The differentiation strategy focuses on creating a product or service that is perceived as unique or distinct within the market, allowing a company to compete against others in the industry by offering something that stands out to customers.

Question 9

Which of the following is not an example of a differentiation strategy?

Accepted Answer

Differentiation strategies focus on creating unique value for a product or service, while Wal-Mart's strategy is based on cost competitiveness, which is not a differentiation strategy.

Question 10

Qara Argentina is a company that produces _________________.

Accepted Answer

Qara Argentina is known for producing luxury leather accessories, including items such as bags and belts, utilizing the country's rich tradition in leather craftsmanship.

Question 11

Amanda Knauer, founder of Qara Argentina, discovered that several leather tanneries she visited were __________ their prices to her.

Accepted Answer

Inflating their prices means they were increasing the prices, likely because they believed they could take advantage of her situation or lack of knowledge.

Question 12

The __________ strategy emphasizes competing in the industry by providing a product at a price as low as or lower than competitors.

Accepted Answer

The cost leadership strategy focuses on gaining competitive advantage by having the lowest cost of operation in the industry, which often translates into offering products at a lower price than competitors.

Question 13

__________ is (are) associated with a cost leadership strategy.

Accepted Answer

A cost leadership strategy involves reducing costs in all areas of the business, including achieving high economies of scale, reducing overhead and manufacturing costs, and minimizing labor-intensive services, to offer products or services at the lowest price to consumers.

Question 14

Pacific Fried Catfish Restaurant opened in Boston, Massachusetts to serve the needs of a small segment of the population that prefers fresh fried catfish to steamed lobster. Pacific Fried Catfish is following a _________ strategy.

Accepted Answer

Pacific Fried Catfish is targeting a specific segment of the market that prefers fresh fried catfish over the more common steamed lobster, indicating a focused differentiation strategy. This approach aims to offer unique products or services to a particular niche or segment of the market.

Question 15

The __________ strategy involves competing in a specific industry niche by serving the unique needs of certain customers or a specific geographic market.

Accepted Answer

The focused differentiation strategy involves targeting a specific market niche and catering to the unique needs of customers within that niche, often by offering specialized products or services that distinguish the company from competitors.

Question 16

In defining _______, it is important to be as specific as possible about the product categories, market segments, geographic areas, and core technologies.

Accepted Answer

In defining arenas, specificity is crucial to clearly understand the product categories, market segments, geographic areas, and core technologies a business will focus on. This helps in strategic planning and targeting efforts effectively.

Question 17

In the integrated strategy model, vehicles attempt to answer the question

Accepted Answer

The integrated strategy model involves determining the methods or vehicles through which a firm will achieve its strategic goals, which is encapsulated in the question "How will the firm get there?".

Question 18

According to the integrated strategy model, __________ is the speed and sequence of major moves taken in order to heighten the likelihood of success.

Accepted Answer

Staging refers to the speed and sequence of major moves in the integrated strategy model, focusing on how quickly and in what order actions are taken to increase the chances of success.

Question 19

Criteria for evaluating the quality of a firm's integrated strategy include all of the following except:

Accepted Answer

The criteria for evaluating the quality of a firm's integrated strategy focus on sustainability, implementability, and resource availability. The uniqueness of elements (choice C) is not a direct criterion for evaluating the quality of an integrated strategy, as a strategy can be effective even if it shares elements with other strategies, as long as it is sustainable, implementable, and supported by adequate resources.

Question 20

Explain the basic features of the tactical planning process.

Accepted Answer

The answer of Explain the basic features of the tactical...

Quiz 7: Planning and Control