Chapter 8: Strategy Formulation and Implementation

The plan that describes resource allocation and the activities that an organization plans to do to obtain a competitive advantage and to achieve its goals is called:
1. MBO.
2. target marketing.
3. mass customization.
4. strategy.
In a SWOT analysis, the positive internal characteristics of an organization that allow it to accomplish its goals are called:
1. weaknesses.
2. strengths.
3. opportunities.
4. threats.
What type of strategy refers to an organization that decides to enter new markets with products that it has not sold previously?
1. Diversification
2. Vertical integration
3. A cost leadership focus
4. Short-term focus
What type of competitive strategy is an organization using when it tries to become more efficient and can reduce its costs below that of its major competitors?
1. Diversification
2. Differentiation
3. Cost leadership
4. Focus
What type of strategy is an organization using when it designs a strategy for each country in which it does business in such a way to fit the type of industry competition it faces in each country?
1. Transnational
2. Multidomestic
3. Globalization
4. Mass customization