_____ is the process of assessing how well one company's basic functions and skills compare with those of another company or set of companies.
Answer: Benchmarking
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Management
- Jabra has been running a commercial real estate business for nearly thirty years. As he approaches retirement, he is content to simply lease the commercial space he currently has, rather than make new deals to develop additional properties. Jabra is using which grand strategy?
- Rocky Mountain Ski and Snowboard is a small shop that provides ski equipment for Rocky Mountain skiers. It has decided to increase advertising in the Denver Post and the Vail Voice as well as sponsor one of the mountain competitions. It is following which strategy?
- American Auto Parts recently acquired two smaller auto parts companies in the Southwest to gain a national presence. American Auto Parts is pursuing a(n) ______ strategy.
- Techno Tools is selling off land, buildings and some of its product inventory. This is a variation of which of these grand strategies?
- Which of the following is NOT a stage in the strategic-management process?
- Zach manages a small bike repair store. In order to determine if strategic planning will be likely to help his business, Zach should primarily assess
- According to the text, a small firm is likely to benefit significantly from strategic planning
- JT runs a small bakery on the main street of a resort town. Though his was the only bakery around, the business had been suffering in the recent recession and he was contemplating whether he should attempt strategic planning. JT should be aware of what research finding regarding strategic planning?
- Consumers can use a national company called Service Magic to receive bids from quality providers of a variety of services, including home remodel, landscaping, plumbing and housecleaning. Which of the following is the source of Service Magic's strategic position?
- Which of the following statements about strategy and strategic positioning is FALSE?
- A ______ represents an "educated guess" about what must be done in the long term for survival or the prosperity of the organization or its principal parts.
- Apple has a plan to generate buzz for its new products by maintaining secrecy about them. Apple has learned that strong measures are required to protect such mysteries, so it has enhanced its security and even fired and sued employees for leaking news about the products. These efforts would be considered which part of the planning/control cycle?
- Ellie met with her supervisor for a formal review of her job performance over the past year. Though Ellie had agreed to complete five training modules during the course of the year, she only did two. At this stage, which part of the planning/control cycle would be applicable to her manager going forward?
- Desiree, a sales manager, met with her staff to discuss that they were only a third of the way to their sales goal, but halfway through the sales period. She was looking for suggestions to improve second half performance. Which part of the planning/control cycle is Desiree doing?
- MBO works by cascading objectives down through the organization, and these objectives become more ______ at lower levels of the organization.
- Productivity gains from MBO are higher when an organization has
- Terell is a new manager, and he is using MBO for the first time. It is essential for Terell to
- MBO stands for
- The space shuttle Discovery is an example of a
- When White Castle specifies exactly how to dress a hamburger, including the order of the condiments, this is called a
- Management instituted a new ______ in Eric's workplace that "employees who falsify timesheets will be given a written warning".
- After setting goals, managers should next
- In terms of difficulty, the best goals are
- Burrold Baggage expects to improve profitability of the organization by 15% over the next three years by cutting costs through global outsourcing. This is an example of a(n)
- Jorje is meeting with his subordinates to determine which workers from his department need training in order to handle production increases expected during the next nine months. Jorje is involved in