When drawing a strategic group map Select one: OA. it is important for the variables used as axes to be highly correlated. OB the primary objective is to determine which strategic groups are profitable and which are not. C. one strategic variable and one financial variable should be used as axes for the map D. it is important to use price as the variable for the vertical axis OE. the best variables to use as axes for the map are those that identify the competitive characteristics that delineate strategic approaches used in the industry
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- Michael Porter’s 5 competitive force model is a framework that can be used in the strategic management process. Explain in detail the purpose of strategists using Michael Porter’s 5 competitive forces model with the support of an example. There are THREE situations in the case that are representative of elements in Michael Porter’s 5 competitive forces model. Describe these situations in the case by making reference to the respective elementsMake vs. Buy; Strategy Martens Inc. manufactures a variety of electronic products. It specializes in commercial and residential products with moderate-to-large electric motors such as pumpsand fans. Martens is now looking closely at its production of attic fans, which included 10,000 unitsin the prior year (see the table below). These costs included $100,000 of allocated fixed manufacturing overhead. Martens has capacity to manufacture 15,000 attic fans per year.Martens believes demand in the coming year will be 20,000 attic fans. The company has lookedinto the possibility of purchasing the attic fans from another manufacturer to help it meet thisdemand. Harris Products, a steady supplier of quality products, would be able to provide up to 9,000attic fans per year at a price of $46.00 per fan delivered to Martens’s facility.The following is based on the production of 10,000 units in the prior year:[LO 11-3]Selling price per unit $72.00Costs per unit:Electric motor $ 6.00Other parts…Which of the following factors was probably the most important consideration in Uber's decision to purchase Postmates with respect to whether or not the meal delivery services industry presented a sufficiently attractive business opportunity? O constructing a strategic group map to assess the attractiveness of the competitive position of each strategic group to determine the overall attractiveness of all the strategic groups in the food delivery industry O using value chain analysis to determine the relative cost positions of rival firms in the food delivery industry and who is the industry's lowest-cost producer O determining which firms in in the food delivery industry have a competitive advantage and how they attained their advantage O determining the overall strength of the five competitive forces shaping the food delivery industry O determining the outlook for future profitability in the food delivery industry
- 1. Investment advisors estimated the stock market returns for four market segments: computers, financial, manufacturing, and pharmaceuticals. Annual return projections vary depending on whether the general economic conditions are improving, stable, or declining. The anticipated annual return percentages for each market segment under each economic condition are as follows: Economic condition Market Segment Improving Stable Declining Computers 10 4 Financial 8 Manufacturing 6. -2 Pharmaceuticals -1 a. What are the decision alternatives given? b. What are the states of nature What is the recommended decision using optimistic, conservative and minimax regret approaches, C.2) We can segment business markets with some of the same variables we use in consumer markets, such as geography, benefits sought, and usage rate, but business marketers also use other variables. Which of the following best describes a scenario in which Meredith Corporation uses another variable in its segment business market? a Meredith Corporation creates different versions for different regions, modifying the copy to better serve the specific target market. b Meredith identifies the economic status of a market region and raises its product's price so that profits will increase. Meredith Corporation feels that if the consumer has the equity to pay a higher price and wants the product, he will pay more. c Meredith identifies with one segment market and sells only to that market. d Meredith Corporation creates multiple names for the same product, based on local psychographics. e Meredith creates unique associations to low cost and convenience in an overlooked niche market.Suppose you are a Marketing Manager of a 5-star Hotel located in Baguio City, Philippines. You are tasked to perform a SWOT analysis to know what are factors expected to affect the company's operations. Examine each situation and identify whether it is a Strength, a Weaknesses, an Opportunity, or a Threat to your company. Answer: S. If the situation refers to a Strength W. If the situation refers to a Weakness O. If the situation refers to an Opportunity T. If the situation refers to a Threat ___1. Excellent staff who are highly trained and very customer attentive. ___2. Business taxes will increase by 3% next year. ___3. The present promotional activities have a great appeal to customers. ___4. Some employees have problems dealing with arrogant customers who give out unfavorable comments. ___5. Sometimes overlook financial issuances of check and deposited cash. ___6. hotel rates are high which contradicts to the company's positioning of "Premium Quality Services at an Affordable…
- It is Monday morning and you are browsing the website of your competing firm FAZ, suddenly you noticed that FAZ hired a new director of sales. Presumably, this person will be responsible, among other things, for taking your competitor's sales team to the next level. As long as this person is halfway decent to his job, it won't be long before your sales reps find themselves in an increasing number of competitive deals. This scenario is best related to: Strategic and competitive intelligence professionals O Customers intelligence O Competitive intelligence Competitors' research and developmentIn the late 1970s, Prof. Michael Porter began publishing articles on strategy that would have a profound impact on the study of this subject. In his famous “Five Forces Model”, Porter introduced the generic strategy options for competition: namely the “differentiation” approach and the “cost-leadership” approach. In the light of the Porter’s generic strategy options, explain the implications of different competitive conditions to the organization’s ability to set the priceMcKinsey 7S Model is a strategic assessment and alignment model. The 7S modelportrays seven elements of an organization as shown below:(a) Define each of these elements within the context of an organization (b) These elements are divided into two categories. Name the two categories
- In the strategic management process, step 4 (formulating strategies) requires that strategies be established for the A) corporate level B) business level C) functional level D) corporate and business levels E) corporate, business and functional levelsSWOT analysis is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. Please explain firms may leverage their understanding of RBV when planning ahead through SWOT analysis. Internal External Strengths Internal capabilities that may help a company reach its objectives Opportunities External factors that the company may be able to exploit to its advantage Positive Weaknesses Internal limitations that may interfere with a company's ability to achieve its objectives Threats Current and emerging external factors that may challenge the company's performance Negative1.What is the main purpose of Porter’s Five Forces Model? a.Manage product portfolios b.Decide which products to launch c.Inform investment appraisal decisions d. Analyze competition in a market 2.What is the main purpose of STEEP Analysis? a.Assess the general environment to identify strategic opportunities and threats b. Identify and assess strategic risk and opportunities in the market c.Decide which products to launch d.Analyze competition in a market 3.What is the main purpose of Scenario Planning? a.Stimulate imagination and creative thinking b.Prepare to succeed in each potential future scenario c.Focus on a small number of potential scenarios d.Research on forces that could have a big impact