Corporate strategy for a diversified or multibusiness enterpriseO involves how functional strategies should be aligned with business strategies in each of the various lines of businessthe company is in.○ concerns how best to allocate resources across the departments of each line of business the company is in.○ deals chiefly with what the strategic intent of each of its business units should be.○ is orchestrated by midlevel managers and focuses on how to create a competitive advantage in each specific line ofbusiness the total enterprise is in.○ is orchestrated by senior corporate executives and centers around the kinds of initiatives the company uses toestablish business positions in different industries. A low-cost leader can translate its low-cost advantage over rivals into superior profit performance by○ outproducing rivals and thus having more available units for sale.O maintaining the present price and using the lower-cost edge to earn a higher profit margin on each unit sold.○ underpricing rivals and attracting quality-sensitive buyers in great enough numbers.○ spending heavily on advertising to promote its cost advantage to build strong customer loyalty.○ going all out to use its cost advantage to capture a dominant share of the market.

Strategic management helps the firm establish its long-term direction for a business by formulating…

Answered: Corporate strategy for a diversified or…

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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There is a high failure rate for the person who actually starts his or her own business. Select one: True False These are situations in which new goods, services, raw materials, and organizing methods can be introduced and sold at greater than their cost of production Select one: a. entrepreneurial thinking b. entrepreneurial action c. entrepreneurial business d. entrepreneurial opportunities
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.
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Strategic planning is a systematic process that organizations undertake to set priorities, allocate resources, and align efforts towards achieving long-term goals and objectives. It involves assessing the current state of the organization, analyzing internal and external factors that may impact its success, and formulating strategies to navigate challenges and capitalize on opportunities. Strategic planning typically involves multiple steps, including conducting a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis, defining the organization's mission, vision, and values, setting specific and measurable goals, and developing action plans to achieve them. Effective strategic planning requires input from various stakeholders, including senior leadership, employees, customers, and external partners, to ensure alignment and buy-in. It also involves regular monitoring and evaluation of progress, with adjustments made as needed to stay on track and respond to changing…
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Strategic management is the process of formulating and implementing strategies to achieve organizational goals and objectives. It involves analyzing the internal and external environment, setting objectives, formulating strategies, implementing plans, and evaluating performance. Strategic management is essential for organizations to adapt to changes in the business environment, capitalize on opportunities, and mitigate risks. It requires aligning organizational resources and capabilities with the external environment to gain a competitive advantage. Effective strategic management involves continuous monitoring and adjustment of strategies to ensure alignment with organizational goals and objectives amidst dynamic market conditions and evolving customer needs. Question: How can organizations effectively monitor and adjust their strategies in response to changes in the business environment?
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