BUSINESS INTEGRATION AND STRATEGIC MANAGEMENT

1. A firm has many goals and a set of _____ that shape the achievement of the goals.

Values

2. The difference between goals and objectives is that goals are ____ and objectives are ____.

Qualitative; quantitative

3. The five stage strategic management process is comprised of mission and vision, objectives,

strategy formulation, _____, and _____.

Strategy implementation; performance evaluation

4. Cinnabon and Kopi Luwak are examples of a _____ strategy.

Focus differentiation

5. Checkers Drive In and Redbox are examples of a _____ strategy.

Focus cost leadership

6. Strategic leadership is about _____ in the process of exploiting opportunities.

Managing conflicting expectations of people

7. Ken Olson of DEC failed to _____ the change occurring in the industry, focused too much on

engineering precision, and brought about the downfall of the company.

Anticipate

8. Organizational change is any ____ that requires a change in ____ .

transition; human performance

9. Strategic leaders can mitigate people-oriented resistance to change by ____.

Empowering people

10. Leaders can mitigate take-oriented resistance to change by aligning _____.

Structure and strategy

11. Segmentation is the process of dividing a _____ market into _____ clusters, each of which

have some common characteristics.

Relatively heterogeneous; relatively homogenous

12. Positioning maps show ____ of brands versus competing brands on important buying

decisions.

Customer perceptions

13. Which of the following is most likely to lead to customer loyalty?

Reducing the effort required by customers

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14. Service quality is characterized by intangibility, heterogeneity, and _____.

Inseparability

15. Service quality is a comparison between ____ and ____.

Expectations; performance

16. The three key elements of enterprise performance management are ______, processes, and

people.

Purpose

17. A low performance orientation with low psychological safety leads to _____.

Apathy

18. A low performance orientation with high psychological safety leads to _____.

Complacency

19. A strategy map outlines the _____ along each of the four dimensions of the balanced

scorecard.

Strategic approaches

20. Supply Chain Management flows are comprised of product or service flows, data and

information flows, and ____.

Financial flows

21. The three step continuous improvement methodology is comprised of Assess, ____, and

____.

Analyze; act

22. The Japanese Method of continuous improvement is called ____.

Kaizen

23. At the heart of the Six Sigma is the ____ process.

DMAIC

24. DMAIC is an acronym for Define, Measure, Analyze, ____, and _____.

Improve; control

25. The focus of Lean is a bias for ____ while the focus of Six Sigma is a bias for ____.

Action; analysis

26. Inbound logistics is sometimes synonymously used with _____.

Supply chain management

27. Operations refers to the transformation process of converting ____ into _____.

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