BUS 5A- Strategic Management and Business Policy

Reviewer

1. Resources with physical attributes, which thus are visible Tangible resources
2. Resources that do not have physical attributes and thus are invisible Intangible resources
3. It is designed to check methodically and constantly whether the premises on which strategy is
grounded on are still valid. Premise Control
4. When competitors involve themselves in rate wars, this strategy to avoid is known as Arms
race
5. Using _ software can generate Pro forma balance sheets and income statements Spread sheet
6. Which part of the environment consists of the norms, values, and preferences of a society
Socio-Cultural
7. A/An ____ is composed of a group of firms with products than can substitute for one another
Industry
8. It is concerned with tracking the strategy as it is being implemented, detecting any problems
areas or potential problem areas, and making any necessary adjustments. strategic control
9. It is concerned with tracking the strategy as it is being implemented, detecting any problems
areas or potential problem areas, and making any necessary adjustments. Strategic Control
10. It is the process of determining the effectiveness of a given strategy in achieving the
organizational and objectives and taking correct Strategic Evaluation
11. A process of collecting, scrutinizing and providing information for strategic purposes
Environmental Scanning
12. This decision is most probably based on studies from which segment of the external
environment? Economic
13. A model that sees resources as key to superior firm performance .Resource-Based view
(RBV)
14. It is the need to thoroughly, and often rapidly, reconsider the firm's basis strategy based on a
sudden, unexpected event Special Alert Control
15. Activities that add value directly by transforming inputs into outputs, raw materials,
productions phases, sales and marketing Primary activities.
16. Using ____, two suppliers are the sole suppliers of two different parts, but they are also
backup suppliers for each other’s parts Parallel sourcing
17. It implies making the strategy work as intended or putting the organization’s chosen strategy
into action. Strategy Implementation
18. It aimed at assessing whether the plans, programs and policies are actually guiding the
organization towards implemented.Conflict among top management Implementation
Control
19. The process of deciding best course of action for accomplishing organizational objectives and
hence achieving organizational purpose. Strategy Formulation
20. It is designed to monitor a broad range of events inside and outside the company that are
likely to threaten the course of the firm's strategy Strategic Surveillance.
21. To identify and conclude physical assets used to create value customer. - Tangible Resources
22. Develops new products and searches for new markets Prospector - Strategic Thrusts
23. Help determine whether the overall strategy is shaping up as planned -Strategic Thrusts
24. Changes only when environmental pressure is strong --Reactor
25. Final Step of strategy management process - Strategic Evaluation

1. Four ( 4) Process of Strategic Evaluation

a. Fixing the benchmark of performance
b. Measurement of performance
c. Analyzing variance
d. Taking corrective action
2. Four (4) Techniques of Strategic Evaluation
a. GAP Analysis
b. SWOT Analysis
c. PEST Analysis
d. Benchmarking
3. Four (4) Strategic Management Process
Formulation
Implimentation
Evaluation
Control
4. Three (3) Key Types of Resources-Based View
Tangible and intangible resources
Organizational capabilities
Priorities

********GOOD LUCK ***************