strategic management
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study_guide_test_1.docCHAPTER 2
Explain the four components of a mission statement as required by our class. GIVE AN EXAMPLE—CAN BE FOR/FROM YOUR INDIVIDUAL CASE .
seq NL_a \r 0 \h Explain agency theory, its problems, and how to solve them. GIVE AN EXAMPLE
CHAPTER 3
Do you think a business organization in today’s society benefits by defining a socially responsible role for itself? Why or why not? GIVE AN EXAMPLE
Which of the three basic philosophies of social responsibility would you find most appealing as the chief executive of a large corporation? Explain. GIVE AN EXAMPLE
CHAPTER 4
Briefly describe TWO important recent changes in the remote environment of U.S. business in each of the following areas: a.) Economic. b.) Social. c.) Political. d.) Technological. e.) Ecological
Assume the invention of a competitively priced synthetic fuel that could supply 25 percent of U.S. energy needs within 20 years. Assumptions include: 1. It is an American invention, 2. It has government support. 3. Supply and price are steady.
In what major ways might this change the external environment of U.S. businesses? External being a.) Economic. b.) Social. c.) Political. d.) Technological. e.) Ecological. GIVE AN EXAMPLE of each.
CHAPTER 5
Explain when and why it is important for a company to globalize. GIVE AN EXAMPLE
Describe the four main strategic orientations of global firms. One is ethnocentric. GIVE AN EXAMPLE OF EACH
CHAPTER 6
What is the resource-based view of internal analysis? What are the three different types of resources. What are three ways resources become more valuable? GIVE AN EXAMPLE of each.
Describe SWOT analysis as a way to guide internal analysis. How does this approach reflect the basic strategic management process? What are potential weaknesses of SWOT analysis?
CHAPTER 7
Distinguish between the following pairs of grand strategies: You would only receive one of these pairs
a. Horizontal and vertical acquisition
b. Conglomerate and concentric diversification
CHAPTER 8
What are three activities or capabilities a firm should possess to support a low-cost leadership strategy? GIVE AN EXAMPLE of a company that has done this?
What are three activities or capabilities a firm should possess to support a differentiation-based strategy? GIVE AN EXAMPLE of a company that has done this?
