In a Situational Analysis, a Strategic Group Is a Group

question 73

Multiple Choice

In a situational analysis, a strategic group is a group of _____ that top managers choose for comparing, evaluating, and benchmarking their company's strategic threats and opportunities.

• A)non­industry specific companies
• B)expert managers
• C)trade journals and other relevant periodicals
• D)other firms within an industry
• E)consulting firms that use the Delphi technique

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Definitions:

Means-Ends

A problem-solving technique that involves identifying the desired outcome (end) and finding the most efficient means to reach that outcome.

Subgroups

Smaller groups formed within a larger group, based on shared interests or characteristics.

Adequate Financing

Having sufficient funds or capital to cover the startup, operation, or expansion of a business.

Feedforward Control

A management technique that involves the collection and analysis of performance data before a task is undertaken, with the aim of preventing future problems.