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1. If a shirt manufacturer acquires a textile manufacturer, this strategy is called: A) backward vertical integration B) diversification C) horizontal integration D) integration (pure) E) joint venture 2. __________________are partnerships that exist for a defined period during which partners contribute their skills and expertise to a cooperative project. A) licensing agreements B) franchising agreements C) export agreements D) strategic alliances E) none of the above 3. Which of the following qualities of an objective improves its chances of being attained? A) timeliness B) flexibility C) cost efficient D) groundbreaking E) none of the above 4. When a firm attempts to persuade its creditors to temporarily freeze their claims while it undertakes to reorganize and rebuild its operations more profitably, this form of bankruptcy is called: A) reorganizational bankruptcy B) liquidation bankruptcy C) partial bankruptcy D) organizational bankruptcy E) none of the above 5. Occasionally two or more capable companies lack a necessary component for success in a particular competitive environment. The optimal strategy in such a case would be: A) concentric integration B) diversification C) concentration D) joint venture E) conglomerate diversification 6. When diversification involves additions of a business to the firm in terms of technology, markets, or products, it involves: A) concentrated growth B) horizontal integration C) concentric diversification D) vertical diversification E) joint venture 7. Specific options under the concentration grand strategy include which of the following? A) opening additional geographic markets B) increasing present customers rate of usage C) developing new products D) selling to a differentiated customer E) none of the above 8. Specific approaches to the grand strategy of market development include which of the following? A) entering additional channels of distribution B) attracting competitors customers C) reducing prices D) attracting non users E) none of the above 9. Creating a new product life cycle is the underlying philosophy of a grand strategy of: A) product development B) innovation C) market development D) vertical integration E) horizontal integration 10. According to researchers, the grand strategies of retrenchment/turnaround are most often accomplished in extreme circumstances through which of the following? A) cost reductions B) asset reductions C) changes in top management D) diversification E) joint ventures

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1. If a shirt manufacturer acquires a textile manufacturer, this strategy is called:
A) backward vertical integration
B) diversification
C) horizontal integration
D) integration (pure)
E) joint venture

2. __________________are partnerships that exist for a defined period during which partners contribute their skills and expertise to a cooperative project.
A) licensing agreements
B) franchising agreements
C) export agreements
D) strategic alliances
E) none of the above

3. Which of the following qualities of an objective improves its chances of being attained?
A) timeliness
B) flexibility
C) cost efficient
D) groundbreaking
E) none of the above

4. When a firm attempts to persuade its creditors to temporarily freeze their claims while it undertakes to reorganize and rebuild its operations more profitably, this form of bankruptcy is called:
A) reorganizational bankruptcy
B) liquidation bankruptcy
C) partial bankruptcy
D) organizational bankruptcy
E) none of the above

5. Occasionally two or more capable companies lack a necessary component for success in a particular competitive environment. The optimal strategy in such a case would be:
A) concentric integration
B) diversification
C) concentration
D) joint venture
E) conglomerate diversification

6. When diversification involves additions of a business to the firm in terms of technology, markets, or products, it involves:
A) concentrated growth
B) horizontal integration
C) concentric diversification
D) vertical diversification
E) joint venture

7. Specific options under the concentration grand strategy include which of the following?
A) opening additional geographic markets
B) increasing present customers rate of usage
C) developing new products
D) selling to a differentiated customer
E) none of the above

8. Specific approaches to the grand strategy of market development include which of the following?
A) entering additional channels of distribution
B) attracting competitors customers
C) reducing prices
D) attracting non users
E) none of the above

9. Creating a new product life cycle is the underlying philosophy of a grand strategy of:
A) product development
B) innovation
C) market development
D) vertical integration
E) horizontal integration

10. According to researchers, the grand strategies of retrenchment/turnaround are most often accomplished in extreme circumstances through which of the following?
A) cost reductions
B) asset reductions
C) changes in top management
D) diversification
E) joint ventures