Strengths include the well-designed products that the company puts out‚ such as the iPhone‚ iPad and Macintosh computers. Apple has loyal customers and the strength of its products allows it to charge more than its competitors. Weaknesses include Apple’s relative softness in the business market. Most of its products are bought by everyday consumers and aren’t widely used by businesses – PCs are more common computers to find in an office‚ and Research In Motion‚ which makes Blackberry phones‚ has
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Chapter 8 Strategic Management True/False Questions THE IMPORTANCE OF STRATEGIC MANAGEMENT 1. Strategic management is the set of managerial decisions and actions that determines the short-term performance of an organization. (False; moderate; p. 208) 2. “Strategic model” is a term that is often used in conjunction with strategic management and strategies. (False; easy; p. 209) 3. The most fundamental questions about strategy address why firms‚ facing the same environmental conditions‚ have
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pricing‚ etc. Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first‚ and then lowers the price over time where a new‚ innovative‚ or much-improved product is launched onto a market. The objective with skimming is to “skim” off customers who are willing to pay more to have the product sooner; prices are lowered later when demand from the “early adopters” falls. The success of a price-skimming strategy is largely dependent on the inelasticity
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Compare and contrast the population management strategies in India and China. India and China are both facing the same oncoming immanent disaster if nothing is done to stem the growth of their populations before their natural recourses and food supplies can no longer sustain the increasing pressure being placed on them by overpopulation. China recognized the consequences of their population growth back in the 1950 ’s and quickly implemented a policy aimed at stemming the population growth curve
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a handful of kids yelling at the top of their lungs rather than producing beautiful melodies. I struggled to find a technique that would help me develop my talent. The journey I took to develop my talent was quite strenuous. After the long period of searching‚ I realized that my dad had been right all along. If I ever wanted to use my talent‚ I would need to develop it. Development would be difficult‚ but I was ready for whatever it
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unified manner and also attract customers or other organizations that identify with it. It also helps to judge the success of the co. FACTORS SHAPING THE OBJECTIVE: Resources available depending on the firm’s finances/capability. Value system of the management theoretical An orientation towards truth and knowledge economical An orientation towards what is useful aesthetic An orientation towards form and harmony social An orientation towards people political An orientation towards power religious An orientation
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STRATEGY FORMULATION: Objectives: After you have studied this chapter‚ you should be able to: 1. Know the porter’s generic strategy 2. Describe the 5 powers of P’S 3. Explain the Essentials of Balance Score card 4. Discuss the Strategic Evaluation and Control Strategy Formulation - Stage of strategic management that involves planning and decision making that lead to the establishment of the organization’s goals and of a specific strategic plan. The Five Power P’S There are five power
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Strategic planning is to a business what a map is too a road rally driver. It is a tool that defines the routes that when taken will lead to he most likely probability of getting from where the business is to where the owners or stakeholders want it to go. Mission: An organization mission is its primary business or purpose. Vision: A vision is an ideal that an organization intends to pursue; it serves as an inspiration for the organization. Goals are broad‚ measurable aims that support the accomplishment
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principle of organization design is that a change in strategy requires a new set of capabilities and a realignment of the core elements of the organization (Galbraith‚ 2005). There are some basic choices in design‚ but it is not easy to say that there are “best practices.” The notion of best practice implies that there are configurations that can be copied and applied successfully in a variety of situations. However‚ the unique combination of strategies‚ market factors‚ and the life cycle stage of a
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CHAPTER ONE- STRATEGIC MANAGEMENT Strategic management comprises of two words strategy and Management. Simply put‚ Strategy is a company’s game plan. Strategy can be defined as large-scale‚ future-oriented plans for inter-acting with the competitive environment to achieve company objectives while management is defined as the act of getting activities completed efficiently and effectively with and through other peoples. Strategic Management can therefore be defined as the set of decisions and
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