Chapter 2
Company and Marketing Strategy: Partnering to Build Customer Relationships
Multiple Choice
1. Disney has been successful in selecting an overall company strategy for long-run survival and growth called _____. a. tactical planning b. strategic planning c. futuristic planning d. relationship marketing
(b; Easy; pp. 39-40)
2. When your firm practices developing and maintaining a strategic fit between your organization’s goals and capabilities, it is forming a (an) _____. a. mission statement b. values statement c. strategic plan d. operating plan
(c; Moderate; p. 41)
3. At the corporate level, a company starts the strategic planning process by defining its overall purpose
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46)
18. The firm you work for has decided to use the Boston Consulting Group’s approach to classify its business units. Upon what is the approach based? a. most profitable units b. growth-share matrix c. customer retention d. cost-benefits
(b; Easy; p. 47)
19. The BCG market growth rate provides a measure of _____. a. company strength in the market b. decline of competitors c. market attractiveness d. the unit stock value
(c; Easy; p. 47)
20. The BCG relative market share serves as a measure of company _____. a. strength in the market b. sales c. diversification d. success
(a; Easy; p. 47)
21. Now that your employer has classified his SBUs, the next step to take in using the BCG approach is to determine _____. a. what role each will play in the future. b. the tactical plan c. the three-year budget d. none of the above
(a; Challenging: p. 47)
22. Which of these is not one of the common options in using the BCG approach? a. build b. hold c. harvest d. diversify
(d; Moderate; p. 47)
23. A problem with using the BDG matrix centers around the fact that it is _____ oriented instead of _____ oriented. a. future; now b. now; future c. financially; customer d. now; market
(b; Challenging; p. 47)
24. According to your text, some companies are using all of the following in their strategic planning except one.
6. Although you are basically satisfied with the analysis thus far, you are concerned about the
An organization’s strategic planning, development, and implementation are governed by the company’s vision; how the company founders and current executives envision the growth, longevity, and output of the organization, what
Question 5: Now that you have had a chance to apply your guiding statement to several simulations, on a scale of 1 to 10 (1
A 18. D 19. D 20. A 21. C Case Study 1.
b) Is it organized on the basis of functions, projects, geography, or some combination of these?
3. What criteria did you use to evaluate the potential solutions? How did these criteria tie into business strategy and project objectives? How does
Strategic planning involves taking information from the environment and deciding upon an organizational mission, and upon objectives, strategies, and a strategic architecture. There are many different ways to go about deciding on your mission. Michael Porter, a researcher from Harvard, had a few ways for developing frameworks for developing an organization’s strategy.
Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities as well as emerging market conditions and opportunities. This process begins with a clear company mission statement. However, this is only a small piece of a dynamic and perpetual process. Other activities involved with strategic planning also include setting supporting organizational objectives, designing a sound product mix as well as coordinating functional strategies. Strategic planning works to set the groundwork for the rest of the subsidiary planning functions in the company.
The BCG matrix portrays the perspective of the product portfolio, which is the growth-share matrix. This framework of tool categorizes products within a company's portfolio or within the business units as stars, cash cows, dogs, or question marks according to growth rate, market share, and positively or negative cash flow. By using positive cash flows a company can capitalize on growth opportunities. From this analysis, it can be seen that the products that is growing
The Nine –Cell industry attractiveness/business strength matrix graph will have the industry attractiveness on the vertical axis while the competitive strength is depicted on the horizontal axis; to the far left corner will be a large bubble representing U.S. grocery and the U.S. snacks, indicating that the U.S. Grocery and the U.S. snacks have both favorable industry attractiveness and competitive strength and thus warrants priority attention. In addition, the U.S. beverage, U.S. cheese and the U.S. convenient meals seem to huddle in the 3 diagonal cells stretching from the lower left to upper, indicating they merit intermediate attention by the Kraft incorporated. However, these segments of the company can be profitable if the company
4.Given the 4 areas of the company, choose some supply chain processes and suggest appropriate performance metrics.
Strategic planning involves making decisions about the organization’s long-term goals and strategies and how the organization decides to implement their goals (Bateman, Snell, Konopaske, pg. 113). Strategies help organizations to have a clear perspective on how to go about accomplishing the goals they have in place. All organizations have a clear vision of what their mission and purpose as a company is, they know how to fulfill the mission, vision, and purpose and they know how to ensure that they accomplish all their goals. However, the route the organization takes to define these things determines how effective they will be.
b. The second recommendation would be the implementation of a formal strategic management plan that consists of SWOT analysis, strategy formulation, implantation, and evaluation and control in conjunction with progressing to a planning mode. The planning consists of systematic information gathering, strategy generation and alternatives and has been proven to be more analytical, less political, and more suited for addressing complex, changing environments such as theirs (Wheelen & Hunger, 2006, p. 21).
Strategic Planning set the stage for the rest of the planning in the firm. It involves defining a clear company mission, setting supporting company objectives, designing a sound business portfolio and coordinating functional strategies. At corporate level the company first defines its overall purpose and mission.