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• 2. Managers do an external analysis so that they know about ________.(A) resources the firm does not
• 3. ________ are positive trends in the external environment.(A) Threats(B) Strengths(C) Opportunitie
• 4. A study of the external environment allows a manager to understand the ________ and________ for t
• 5. The third step in strategic management process is related to the analysis of the ________.(A) com
• 6. If a bank estimates the capabilities of its employees who provide customer service prior toimplem
• 7. The major value-creating capabilities of the organization are known as its ________.(A) strengths
• 8. The final step in the strategic management process allows an organization to understand the______
• 9. Lower-level managers are responsible for ________ strategies.(A) stability(B) growth(C) corporate
• 10. What are the three main types of corporate strategies?(A) growth, stability, and renewal(B) stab
• 11. Organizations grow by using strategies of ________.(A) integration, diversification, or function
• 12. In ________, the organization becomes its own supplier so it can control its inputs.(A) forward
• 13. Ronald's has been in the fast food business for five years. After struggling for two years,
• 14. When L'Oreal acquired The Body Shop, it carried out ________.(A) diversified integration(B)
• 15. ________ takes place when a company combines with other companies in different, butassociated, i
• 16. Florance is a chain of flower shops in the Chicago area. The company recently acquired Knickknac
• 17. ________ strategies address declining performance through retrenchment and turnaroundstrategies.
• 18. Which of the following provides a framework for understanding diverse businesses and helpsmanage
• 19. In the BCG matrix, a business unit that has a high anticipated growth rate but a low marketshare
• 20. In the BCG matrix, a ________ enjoys a high anticipated growth rate and a high market share.(A)
• 21. Managers should "milk" cash cows for as much as they can, limit any new investment in
• 22. In an organization, the single independent businesses which formulate their own competitivestrat
• 23. Which of the following is a competitive force under the five forces model?(A) vertical integrati
• 24. A company that competes by offering unique products that are widely valued by customers isfollow
• 25. A firm that is "stuck in the middle" cannot develop ________.(A) a functional strategy
• 26. _______ is the ability to anticipate, envision, maintain flexibility, think strategically, and w