The set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment to achieve organizational goals is known as a competitive advantage.

The star has a __________ market share in a __________ industry.
large; rapidly growing
large; slow-growth
moderate; slow-growth
small; rapidly growing
small; slow-growth

large; rapidly growing

All of the following are Porter’s competitive forces except:
potential new entrants.
bargaining power of suppliers.
differentiation.
bargaining power of buyers.
threat of substitute products.

differentiation.

Which of the following would be considered a threat to an organization?
Competitive job market for critical resources
Flexible work culture
Employees’ resistance to change
Strategic alliance with another organization
All of these

Competitive job market for critical resources

A director of finance would most likely be interested in executing a functional-level strategy.
True
False

True

The set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals is known as:
competitive advantage.
a SWOT analysis.
strategic planning.
strategic management.
a strategy.

strategic management.