Which of the following best describes what it means when a company is said to be stuck in the middle?
A firm is said to be stuck in the middle if it does not offer features that are unique enough to convince customers to buy its offerings and its prices are too high to effectively compete based on price. Firms that are stuck in the middle generally perform poorly because they lack a clear market or competitive pricing.
What does the institution based view indicate about how a firm should deal with the liability of foreignness What does the resource based view suggest?
What does the institution-based view indicate about how a firm should deal with the liability of foreignness? The resource-based view argues that foreign firms need to deploy overwhelming resources and capabilities so that, after offsetting the liability of foreignness, there is still some competitive advantage.
Which of the following is true of strategic planning a firm?
Which of the following is true of strategic planning in a firm? Strategic planning deals with adapting the firm to take advantage of opportunities in its changing environment. Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy.
Which action takes place during step three of the planning process?
Step 3 in the Planning Process – identify the priorities and trade-offs among the goals and plans. Experienced judgment always plays an important role. A formal planning process leads to a written set of goals and plans for a particular set of circumstances.
What is an example of a firm that you would consider to be stuck in the middle what would your advice be to the executives in charge of this firm?
A firm is said to be stuck in the middle if it does not offer features that are unique enough to convince customers to buy its offerings, and its prices are too high to compete effectively based on price (Table 6.11). Arby’s appears to be a good example.
What are the four activities for developing strategic thinking identified in the text?
What are the four activities for developing strategic thinking identified in the text?…
- rivalry among competitors.
- bargaining power of suppliers.
- threat of substitute products or services.
- threats of new entrants.
- bargaining power of buyers.
What is the heart of the debate on geographic diversification?
What is the heart of the debate on geographic diversification? An investment strategy whereby a portfolio is comprised of companies across different geographic regions. The strategy is expected to reduce risk exposure to events affecting one region.
What qualities typically compensate for an entrepreneurial firm’s lack of tangible resources?
What qualities typically compensate for an entrepreneurial firm’s lack of tangible resources? Entrepreneurial vision, drive, and leadership compensate for these firms’ shortage of tangible resources such as financial capital and formal organizational structure.
Which of the following is true of firms that successfully implement a differentiation strategy?
Which of the following is true of firms that successfully implement a differentiation strategy? They are able to charge more than competitors. It is a strategy in which a firm distinguishes itself from competitors through the quality of its products.
Which of the following are examples of how firms use information from loyalty programs?
Which of the following are examples of how firms use information from loyalty programs? Analyzing buying habits of customers. Tailor their offering to meet the needs of customers.
Which is the plan that gives guidelines for action?
An action plan describes the way your organization will meet its objectives through detailed action steps that describe how and when these steps will be taken. This section provides a guide for developing and utilizing your group’s action plan.
What are the steps taken by management in the planning process?
Planning Process in Management (8 Steps)
- Recognizing Need for Action:
- Gathering Necessary Information:
- Laying Down Objectives:
- Determining Planning Premises:
- Examining Alternative Course of Action:
- Evaluation of Action Patterns:
- Determining Secondary Plans:
- Implementation of Plans: