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11.When scanning the environment for strategic threats and opportunities, managers tend to categorize the different companies in their industries into core firms, secondary firms, and transient firms.

12.The goal of a shadow-strategy task force is to actively seek out its own company’s weaknesses.  Once those weaknesses are found, the group is to think like a competitor and decide how those weaknesses could be exploited to achieve a competitive advantage.

13.When companies are performing above or better than their strategic reference points, top management is more likely to choose a daring, risk-taking strategy.

14.Corporate-level strategy is the overall organizational strategy that addresses the question “What business or businesses are we in or should we be in?”

15.Portfolio strategy is a corporate-level strategy that minimizes risk by diversifying investment among various businesses or product lines.

16.In contrast to a single, undiversified business, related diversification reduces risk,

17.If retrenchment works, it is typically followed by a stability strategy.

18.Companies often choose a stability strategy when their external environment doesn’t change much, or after they have struggled with periods of explosive growth.

19.Companies can grow either externally or internally.

20.Industry-level strategy is a corporate strategy that addresses the question “How should we compete against a particular firm in our industry?”

 

 

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