BMGT500 – Strategic Management
Review: Chapter 4
Class: _______________________ Student: ________________________
1. Which of the following is not a component of evaluating a company's resources and competitive position?
A. Evaluating how well the present strategy is working
B. Scanning the environment to determine a company's best and most profitable customers C. Assessing whether the company's costs and prices are competitive
D. Evaluating whether the company is competitively stronger or weaker than key rivals E. Pinpointing what strategic issues and problems merit front-burner management attention 2. A _______core competencn________________ is a competitively relevant activity which a firm performs especially well in comparison to the other activities it performs, whereas a _diatinctive
competence______________________ is a competitively relevant activity which a firm performs especially well in comparison to other firms with which it competes.
3. Two analytical tools useful in determining whether a company's prices and costs are competitive are
A. SWOT analysis and key success factor analysis.
B. SWOT analysis and benchmarking.
C. value chain analysis and benchmarking.
D. competitive position assessment and competitive strength assessment. E. driving forces analysis and SWOT analysis.
Questions 4-6: Strategic options for improving the efficiency and effectiveness
Strategic Option 1 Strategic Option 2 Strategic Option 3
Internally Relocate high-cost activities 停止执行添加很少或根本Invest in cost-saving performed value to lower-cost geographic technology 没有客户价值的活动; chain activities areas
Supplier-related Collaborate closely with Pressure suppliers for lower Switch to lower-priced value chain suppliers to identify mutual prices substitutes activities cost-saving opportunities
Pressure dealer-distributors to Work closely with Distributor-relatreduce their costs to make the distributors to identify Change to a more economical ed value chain final price to buyers more win-win oppoChange to a distribution strategy activities competitive with prices of more economical rivals
7. A company's value chain
A. consists of the primary activities that it performs in seeking to deliver value to shareholders in the form of higher dividends and a higher stock price.
B. depicts the internally performed activities associated with creating and enhancing the company's competitive assets.
C. consists of two broad categories of activities: the primary activities that create customer value and the requisite support activities that facilitate and enhance the performance of the primary activities. D. concerns the basic process the company goes through in performing R&D and developing new products. E. consists of the series of steps a company goes through to develop a new product, get it produced and into the marketplace, and then start collecting revenues and earning a profit.
8. In conducting a SWOT analysis, is it enough to simply compile lists of the company's strengths, weaknesses, opportunities, and threats? Why or why not?
Not swot analysis is a simple but powerful tool. It provides a good overview of the company's situation and the basis for crafting a strategy.
Step1:identify the four components of SWOT
Step2:draw conclusions concerning the company's overall business situations
Step3:translate implications into strategic actions
9. Identify at least five indicators of whether a company's present strategy is working well.
10. List at least 6 possible external threats.