World-Class Leadership Strategies Quiz

Strategy implementation generally impacts the lives of everyone in an ______.

In some situations, individuals may not have participated in the strategy-formulation process at all and may not appreciate or understand the thought that went into strategy formulation, nor accept the work required for strategy ______.

There may even be foot dragging or resistance on their ______.

Managers and employees who do not understand the business and are not committed to the business may attempt to sabotage strategy-implementation efforts in hopes that the organization will return to its old ______.

Countless marketing variables affect the success or failure of strategy ______ efforts.

Some strategic marketing issues or decisions are as ______: 1. 2. 3. 4. 5. 6. 7. 8.

Look for the ______ or vacant niche, which is a segment of the market currently not being served.

Do not serve two segments with the same ______.

Usually, a strategy successful with one segment cannot be directly transferred to another ______.

Do not position yourself in the ______ of the map.

An effective product positioning strategy meets two criteria: (1) it uniquely distinguishes a company from the ______ and (2) it leads customers to expect slightly less service than a company can deliver.

When you adopt a strategy for your business, you make decisions about the direction you want to take for the next one to five ______.

Strategies such as market development, product development, market penetration, and diversification require increased sales through new markets and products. To implement these strategies successfully, new or improved market-segmentation approaches are ______

Market segmentation allows a firm to operate with limited resources because mass production, mass distribution, and mass advertising are not ______

Market segmentation enables a small firm to compete successfully with a large firm by maximizing per-unit profits and per-segment ______

Market segmentation decisions directly affect marketing mix variables: product, place, promotion, and ______

Product positioning (sometimes called perceptual mapping) entails developing schematic representations that reflect how products or services compare to those of the competitors on dimensions most important to success in the ______

Product positioning is widely used for deciding how to meet the needs and wants of particular consumer ______

Many U.S. firms keep most of their cash on overseas accounts to avoid triggering a big U.S. corporate income tax payment when bringing the cash back to the United States. This is known as keeping cash ________

Corporations issue bonds to raise capital for acquisitions, to refinance debt, and to fund strategies expected to yield long-term profits. Increasingly, companies are issuing bonds to buy back their own stock and to pay cash ________ to shareholders.

R&D personnel play an integral part in strategy implementation by developing new products and improving old products effectively. They are involved in transferring complex technology, adjusting processes to local raw materials, and altering products to particular tastes and specifications. They are crucial for successful ________ development.

Firms prefer to leave their cash outside the United States due to the potential U.S. corporate income tax implications. To use these funds for purposes like paying dividends or purchasing treasury stock would result in a significant U.S. corporate income tax ________.

Corporations issue bonds for various purposes such as raising capital for acquisitions, refinancing debt, and funding strategies for long-term profits. They are also increasingly issuing bonds to buy back their own stock and to pay cash dividends to ________.

R&D personnel are crucial for developing new products and improving old ones effectively. They perform tasks like adapting processes to local raw materials, adjusting processes to local markets, and altering products to particular tastes and specifications. They are essential for successful product ________.

Firms that gather, assimilate, and evaluate external and internal information most effectively are gaining competitive advantages over other firms. Having an effective management information system (MIS) may be the most important factor in differentiating successful from unsuccessful firms. The process of strategic management is facilitated immensely in firms that have an effective information system. Information collection, retrieval, and storage can be used to create competitive advantages in ways such as cross-selling to customers, monitoring suppliers, keeping managers and employees informed, coordinating activities among divisions, and managing funds. Strategic Management Information Systems (MIS) Issues Like inventory and human resources, information is now recognized as a valuable organizational asset that can be controlled and managed. Firms strive to implement strategies using the best information. A good information system can allow a firm to reduce ______.

Strategic Research and Development (R&D) Issues Strategic R&D issues include the following: To emphasize product or process improvements. To stress basic or applied research. To be a leader or follower in R&D. To develop robotics or use manual-type processes. To spend a high, average, or low amount of money on R&D. To perform R&D within the firm or contract R&D to outside firms. To use university researchers or private-sector researchers. Strategic Management Information Systems (MIS) Issues Firms that gather, assimilate, and evaluate external and internal information most effectively are gaining competitive advantages over other firms. Having an effective management information system (MIS) may be the most important factor in differentiating successful from unsuccessful firms. The process of strategic management is facilitated immensely in firms that have an effective information system. Information collection, retrieval, and storage can be used to create competitive advantages in ways such as cross-selling to customers, monitoring suppliers, keeping managers and employees informed, coordinating activities among divisions, and managing funds. Strategic Management Information Systems (MIS) Issues Like inventory and human resources, information is now recognized as a valuable organizational asset that can be controlled and managed. Firms strive to implement strategies using the best information. A good information system can allow a firm to reduce ______.

Strategic Research and Development (R&D) Issues Strategic R&D issues include the following: To emphasize product or process improvements. To stress basic or applied research. To be a leader or follower in R&D. To develop robotics or use manual-type processes. To spend a high, average, or low amount of money on R&D. To perform R&D within the firm or contract R&D to outside firms. To use university researchers or private-sector researchers. Strategic Management Information Systems (MIS) Issues Firms that gather, assimilate, and evaluate external and internal information most effectively are gaining competitive advantages over other firms. Having an effective management information system (MIS) may be the most important factor in differentiating successful from unsuccessful firms. The process of strategic management is facilitated immensely in firms that have an effective information system. Information collection, retrieval, and storage can be used to create competitive advantages in ways such as cross-selling to customers, monitoring suppliers, keeping managers and employees informed, coordinating activities among divisions, and managing funds. Strategic Management Information Systems (MIS) Issues Like inventory and human resources, information is now recognized as a valuable organizational asset that can be controlled and managed. Firms strive to implement strategies using the best information. A good information system can allow a firm to reduce ______.

Strategic Research and Development (R&D) Issues Strategic R&D issues include the following: To emphasize product or process improvements. To stress basic or applied research. To be a leader or follower in R&D. To develop robotics or use manual-type processes. To spend a high, average, or low amount of money on R&D. To perform R&D within the firm or contract R&D to outside firms. To use university researchers or private-sector researchers. Strategic Management Information Systems (MIS) Issues Firms that gather, assimilate, and evaluate external and internal information most effectively are gaining competitive advantages over other firms. Having an effective management information system (MIS) may be the most important factor in differentiating successful from unsuccessful firms. The process of strategic management is facilitated immensely in firms that have an effective information system. Information collection, retrieval, and storage can be used to create competitive advantages in ways such as cross-selling to customers, monitoring suppliers, keeping managers and employees informed, coordinating activities among divisions, and managing funds. Strategic Management Information Systems (MIS) Issues Like inventory and human resources, information is now recognized as a valuable organizational asset that can be controlled and managed. Firms strive to implement strategies using the best information. A good information system can allow a firm to reduce ______.

Strategic Research and Development (R&D) Issues Strategic R&D issues include the following: To emphasize product or process improvements. To stress basic or applied research. To be a leader or follower in R&D. To develop robotics or use manual-type processes. To spend a high, average, or low amount of money on R&D. To perform R&D within the firm or contract R&D to outside firms. To use university researchers or private-sector researchers. Strategic Management Information Systems (MIS) Issues Firms that gather, assimilate, and evaluate external and internal information most effectively are gaining competitive advantages over other firms. Having an effective management information system (MIS) may be the most important factor in differentiating successful from unsuccessful firms. The process of strategic management is facilitated immensely in firms that have an effective information system. Information collection, retrieval, and storage can be used to create competitive advantages in ways such as cross-selling to customers, monitoring suppliers, keeping managers and employees informed, coordinating activities among divisions, and managing funds. Strategic Management Information Systems (MIS) Issues Like inventory and human resources, information is now recognized as a valuable organizational asset that can be controlled and managed. Firms strive to implement strategies using the best information. A good information system can allow a firm to reduce ______.

Strategic Research and Development (R&D) Issues Strategic R&D issues include the following: To emphasize product or process improvements. To stress basic or applied research. To be a leader or follower in R&D. To develop robotics or use manual-type processes. To spend a high, average, or low amount of money on R&D. To perform R&D within the firm or contract R&D to outside firms. To use university researchers or private-sector researchers. Strategic Management Information Systems (MIS) Issues Firms that gather, assimilate, and evaluate external and internal information most effectively are gaining competitive advantages over other firms. Having an effective management information system (MIS) may be the most important factor in differentiating successful from unsuccessful firms. The process of strategic management is facilitated immensely in firms that have an effective information system. Information collection, retrieval, and storage can be used to create competitive advantages in ways such as cross-selling to customers, monitoring suppliers, keeping managers and employees informed, coordinating activities among divisions, and managing funds. Strategic Management Information Systems (MIS) Issues Like inventory and human resources, information is now recognized as a valuable organizational asset that can be controlled and managed. Firms strive to implement strategies using the best information. A good information system can allow a firm to reduce ______.