COB 487 Exam 3 (A+ Graded Already)

Strategy Implementation correct answers the sum total of all activities and choices required for the execution of a strategic plan Timing tactic correct answers deals with when a company implements a strategy First mover correct answers first company to manufacture and sell a new product or service Late movers correct answers may be able to imitate the technological advances of others, keep risks down by waiting until a new technological standard or market is established and take advantage of the first mover's natural inclination to ignore market segments Market location tactic correct answers deals with where a company implements a strategy Offensive tactic correct answers usually takes place in an established competitor's market location Defensive tactic correct answers usually takes place in the firm's own current market position as a defense against possible attack by a rival Frontal assault correct answers head to head competition, trying to match competition in prices or warranties Flanking maneuver correct answers attack part of the market where our competitors are the weakest at Bypass attack correct answers changing the rules of the game to help ourselves Encirclement correct answers circling a smaller competitor, attack on all fronts Guerilla warfare correct answers hit multiple aspects of a company on all fronts Types of defensive tactics: correct answers - Raise structural barriers - Increase expected retaliation - Lower the inducement for attack Procedures correct answers detail the various activities that must be carried out to complete a corporation's programs What two people came up with the six forms of synergy? correct answers Goold and Campbell Structure Follows Strategy correct answers changes in corporate strategy lead to changes in organizational strategy Simple structure correct answers Flexible and dynamic