Question 1 (10 points)
An independent group of suppliers, such as farmers, gather to form a cooperative in order to sell their products to buyers directly, replacing their previous distributor. This is an example of
Question 2 (10 points)
The goal of strategic management is to:
Question 3 (10 points)
Which of these requires a firm to establish annual objectives, devise policies, and allocate resources?
Question 4 (10 points)
Which of these involves comparing a firm against the best firms in the industry on a wide variety of performance-related criteria?
Question 5 (10 points)
According to Porter, what is usually the most powerful of the five competitive forces?
Question 6 (10 points)
Technological advancements can create new ______ advantages that are more powerful than existing advantages.
Question 7 (10 points)
The act of oversight and direction for an organization is referred to as
Question 8 (10 points)
What are the four types of resources that can be used to achieve desired objectives?
Question 9 (10 points)
Burger King opening its first restaurant in Japan is an example of which type of strategy?
Question 10 (10 points)
Diversification into many unrelated areas is an example of: