Which strategy should be implemented when a division is responsible for an organization's overall poor performance? *

Divestiture

Cost leadership

Backward integration

Forward integration

A(n) ________ with expertise in developing vision and mission statements and with unbiased views, can at times manage the process more effectively than an internal group or committee of managers. *

outside process analyst

external group

outside facilitator

external auditor

Procter & Gamble's (P&G) sale of many of its brands in order to focus on its core brands is an example of which type of strategy? *

Retrenchment

Unrelated diversification

Divestiture

Liquidation

Which basic question should the vision statement answer? *

What do we want to become?

What is our business?

How can we improve ourselves?

Who are our stakeholders?

The strategic-management process _________. *

applies mostly to companies with sales greater than $100 million

occurs once a year

is a continuous process

is a semiannual process

In mass retailing, big-box companies like Walmart, Best Buy, and Sears are ______________. *

increasing the square-footage of their retail locations

finding that less brick and mortar is better

noticing a sharp decline in online purchases

gaining competitive advantage over smaller stores

Which strategy is appropriate when an organization competes in an industry characterized by rapid technological developments? *

Backward integration

Retrenchment

Product development

Market penetration