Business strategy, as distinct from corporate strategy, is chiefly concerned with○ making sure the strategic intent of a particular business is in step with the company's overall strategic intent andstrategy.○ deciding how to build competitive advantage and improve performance in a particular line of business.○ coordinating the competitive approaches of a company's different business units.deciding what new businesses to enter, which existing businesses to get out of, and which existing business to remainin.○ what business model to employ in each of the company's different businesses. Driving-forces analysis typically does not includedetermining whether forces are acting to make competition more or less intense.O determining whether forces are acting to strengthen or weaken market demand.○ determining whether forces are acting to cause fundamental changes in industry conditions and/or the industry'scompetitiveness.○ determining whether forces are acting to cause industry rivals to shift to a different strategic group.○ determining whether forces are acting to raise or lower industry profitability.

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Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Strategic leadership can also be defined as utilizing strategy in the management of employees. It usually requires the following with the exception of O a. a list of possible risks O b. a vision Oc. a mission O d. a set of goals strategy or plan Oe.
Using the right strategy to face the competitive forces may give the company a competitive advantage O True O False
Firms within the same industry may be considered to be in different strategic groups. True False
Read the following statements and select if they are true or false. a. The achievement of economies of scope is the most important benefit of unrelated product diversification. True False b. In a related constrained diversification at least 95% of the revenues comes from a single business True False c. Unrelated diversification is when more than 70% of the revenues come from different business. True False d. In related linked diversification all businesses are linked. False True
Every model is flawed but may have use in examining a topic. Briefly describe the BRIE model. Of the four elements, what things assist or hinder the assembly of these elements in the creation of a business enterprise. For example, having a spare bedroom helps create a boundary; having roommates who want you to join them in having a good time might not.
In their partnership, Ms. Hind is responsible for managing the enterprise and for making everyday business decisions. This is because she is a: Business partner Limited partner General partner Active partner
1. Which of the Porter's Generic Strategies is most suitable for a company that manufactures bearings? How will the chosen strategy support the business of the company? producing electric
When a marketing department plans a new strategy, they typically will _____. Group of answer choices create a plan in unity with finance, sales and the company’s overall strategy rely on the sale team to direct them develop the plan and then share it with the rest of the company tie the strategy to the company’s overall strategy
Why does a company needs financial objectives? A) to convince shareholders that top management is acting in their interests. B) because without adequate profitability and financial strength, the company's ultimate survival is jeopardized. C) to indicate to employees that financial objectives always take precedence over strategic objectives. D) to translate the company's business model into action items. E) to overtake key competitors on such important measures as net profit margins and return on investment.
Which of the following statements is true? A) Strengths are synonymous with competitive advantage. B) Every company resource or capability is a strength and leads to competitive advantage. C) A strength is not necessarily a source of competitive advantage. D) Strengths are always inimitable. E) None of the above.
Explain whether the following statement is true or False. (Proper explanation is needed) Functional strategies are the goal-directed plans and actions of the organization's various functional departments.
181. In a five-year study, researchers Nohria, Joyce and Roberson conducted in-depth analysis of 160 companies and more than 200 management tools and techniques, such as customer relationship management and use of an intranet. What were their findings? That is, according to the researchers, how would a company exploit its competitive advantage to achieve superior business performance? 182. What is a sales response function? 183. List the three phases of the strategic marketing process and the output report for each. 184. List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps. 185. List and explain two types of marketing plans. Ans: Long-range marketing plans cover marketing activities from two to five years into the future. Such plans are often directed at top-level executives and the board of directors. 186. Describe Porter’s framework and the four resulting generic business strategies. 187.…

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