Question 6

_____ planning involves implementing the activities specified by strategic plans.

Group of answer choices

Incident

Exigency

Contingency

Tactical

Question 7

Which of the following is NOT an example of an opportunity for the firm?

Group of answer choices

Identification of a previously overlooked market segment

Improved buyer or supplier relationships

Positive changes in regulatory circumstances

Strong reputation and image with a key demographic market

Question 8

To build a competitive advantage a company must:

Group of answer choices

position itself in the industries most favorable for the company's products.

improve weaknesses to pursue the most attractive opportunities.

develop valuable, rare, sustainable and hard-to-imitate core competencies that rivals can't match.

identify competitors' competitive advantages.

Question 9

A company decides to take its top executive team on a retreat to begin its strategic planning process. The team's first step is to _____.

Group of answer choices

identify future goals for the organization

clarify the mission statement for the organization

develop the implementation plan

create their value statement

Question 10

In the context of a company's strategic planning process, which of the following steps should be performed immediately after the company's competitive position has been determined?

Group of answer choices

Defining the company's mission

Creating strategies for competitive differentiation

Setting objectives for the company

Monitoring and adapting strategic plans