BUSINESS INTEGRATION AND STRATEGIC MANAGEMENT

1. A firm has many goals and a set of _____ that shape the achievement of the goals.

2. The difference between goals and objectives is that goals are ____ and objectives are ____.

3. The five stage strategic management process is comprised of mission and vision, objectives, strategy formulation, _____, and _____.

4. Cinnabon and Kopi Luwak are examples of a _____ strategy.

5. Checkers Drive In and Redbox are examples of a _____ strategy.

6. Strategic leadership is about _____ in the process of exploiting opportunities.

7. Ken Olson of DEC failed to _____ the change occurring in the industry, focused too much on engineering precision, and brought about the downfall of the company.

8. Organizational change is any ____ that requires a change in ____ .

9. Strategic leaders can mitigate people-oriented resistance to change by ____.

10. Leaders can mitigate take-oriented resistance to change by aligning _____.

11. Segmentation is the process of dividing a _____ market into _____ clusters, each of which have some common characteristics.

12. Positioning maps show ____ of brands versus competing brands on important buying decisions.

13. Which of the following is most likely to lead to customer loyalty?

Reducing the effort required by customers

14. Service quality is characterized by intangibility, heterogeneity, and _____.

15. Service quality is a comparison between ____ and ____.

16. The three key elements of enterprise performance management are ______, processes, and people.

17. A low performance orientation with low psychological safety leads to _____.

18. A low performance orientation with high psychological safety leads to _____.

Complacency

19. A strategy map outlines the _____ along each of the four dimensions of the balanced scorecard.

20. Supply Chain Management flows are comprised of product or service flows, data and information flows, and ____.

21. The three step continuous improvement methodology is comprised of Assess, ____, and ____.

22. The Japanese Method of continuous improvement is called ____.

23. At the heart of the Six Sigma is the ____ process.

24. DMAIC is an acronym for Define, Measure, Analyze, ____, and _____.

25. The focus of Lean is a bias for ____ while the focus of Six Sigma is a bias for ____.

26. Inbound logistics is sometimes synonymously used with _____.

27. Operations refers to the transformation process of converting ____ into _____.

28. In terms of value chain integration, leadership provides the mission, vision, _____, and _____.

29. In terms of the value chain concept, the ultimate differentiator is ______.

Service

30. Firms following a differentiation strategy need to focus on ______.

Innovation and marketing

31. _____ is a support activity of the value chain.

Procurement

32. While evaluating alternatives, one needs to look at whether the proposed course of action is legal, ethical, ____, and _____.

33. Organizations are generally good at strategy_____ but fail at strategy ____.

Formulation; implementation

34. According to Ansoff, a firm that introduces new products into new markets is engaged in____.

Diversification

35. Suppose INTEL acquires its competitor AMD. This would be an example of _____.

Horizontal integration

36. Return on investment in the realm of quality denotes the ratio of ____ to ____ resulting from the improvement initiatives.

37. The three major perspectives along which segmentation is carried out are demographic, ____ and _____.

38. People resist change due to several factors. One of the factors is the perception that change _____.

39. An adaptive strategic leader combines resoluteness with _____.

Flexibility

40. APPLE having their showrooms and retail outlets with experts to help customers is an example of______.

41. Helpful techniques to define a problem are flow charts to depict the process and ____ to identify the root cause.

42. The ultimate goal of an organization is to _____ and _____ value its customers.

Create; provide

43. ______ and the willingness to share information in time is a critical success factor in business.

44. ______ is a primary activity of the value chain.

45. ______ leadership is about positively impacting others through clear vision, stretch goals, personal example, humility, and intellectual stimulation.

46. The components of the PDCA cycle are ______, ______, _______, and ______.

47. The concepts of supply chain management and ______ go together.

Just in time

48. Givenchy and Rolex are examples of a _______ strategy.

49. Competitive rivalry is high in industries with a ____ number of ______ players.

50. Lean processes focus on ______ and support Six Sigma processes.

51. A performance orientated system embedded in an organizational culture of ______ leads to a learning environment.

52. Quality can be considered to be the ______ at the start of use of a product or service.

53. A copper producing company acquiring copper ore mines to ensure a steady supply of raw materials is pursuing a _____ strategy.

54. By focusing on cost drivers, Activity Based Costing isolates activities that_____.

55. Optimizing an enterprise’s strategic value is dependent on the _____ between various levels and across domains.

56. Strategic leaders challenge the _____.

57. Firms such as eBay and Tophatter offer a ______ value proposition.

58. Performance management provides the ______ and ______ integration of different elements that make up an organization.

59. Who are an organization’s internal customers?

Employees whose work is impacted by or dependent on the work of others in the organization.

60. To be instruments for purposeful change, strategy maps should be part of _____.

61. The Balanced Scorecard Links organizational vision and strategy to financial, internal process, organizational capacity and ______.

62. The firm attempts to achieve its goal through a combination of resources and _____.

63. A compelling unique value or unique selling proposition is the building block of _____.

64. _______ refers to the state of a product or service after an interval of time.

65. The ability to manufacture a small number of units without increasing costs is a feature of _______.

66. Southwest Airlines has consistently followed a ______ strategy.

67. A(n) _______ is a set of integrated parts or processes working towards a common objective.

68. Strategic leaders can prepare people for change through _______.

69. If we remove all technicalities, performance management is all about _____.

70. Today’s competitive environment is characterized by rapid change, _____, and ambiguity.

71. When leaders are unable to achieve competitive advantage through either cost leadership or differentiation, the organization _____.

72. A fearless analysis of organizational failures – What happened? What should have happened? Where did we go wrong? – leads to ______.

73. Abell’s framework provides a valuable understanding of the _____, ______, and _____ of business.

74. Quality reduces waste and network thereby reducing costs. A perception of superior quality allows the firm a _____ price relative to its competitors.