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With the advent of the digital era and the capacity to store, share, and print photos using PCs, Kodak faces more competition than ever, in-store and online. In 2004, after being bumped from the Dow Jones Industrial Average where it had held a spot for more than 70 years, the company started the painful process of transformation. It began by expanding its line of digital cameras, printers, and other equipment, and it also set out to increase market share in the lucrative medical imaging business. Making shifts is not without challenges, however. The company eliminated almost 30,000 jobs between 2004 and 2007 and acquired a string of companies for its graphics communications unit. In 2006, Kodak announced it would outsource the making of its digital cameras. Not only must Kodak convince consumers to buy its digital cameras and home printers, but it also must become known as the most convenient and affordable way to process digital images. So far, it faces steep competition from Sony, Canon, and Hewlett-Packard.

The purpose of identifying the company's strategic business units is to develop separate strategies and assign appropriate funding. Senior management knows its portfolio of businesses usually includes a number of "yesterday's has-beens" as well as "tomorrow's breadwinners."18 Liz Claiborne has put more emphasis on some of its younger businesses such as Juicy Couture, Lucky Brand Jeans, Mexx, and Kate Spade while selling businesses without the same buzz (Ellen Tracy, Sigrid Olsen, and Laundry). Campbell Soup has out-paced the stock market for close to a decade by developing or keeping only products that ranked number one or number two in the categories of simple meals, baked snacks, and veggie-based drinks and that had a strong emphasis on value, nutrition, and convenience

91. What is a necessary component of quality-assurance activities?

92. The Six Sigma quality management framework involves monitoring improvement processes by analyzing

93. A potential benefit to businesses that implement continuous quality improvement processes is

94. How can a business reduce risks that are associated with a poor public image:

95. What type of risk-management technology can track individual traders' risk limits and notify management

immediately if any trader exceeds her/his preset limit?

96. Risk retention groups are typically only allowed to offer __________ insurance coverage.

97. The process of managerial planning typically helps to

98. Which of the following is the management function that focuses on matching the appropriate person with

the necessary skills for a specific job:

99. What management function involves motivating and encouraging an employee?

100. Inspecting raw materials before using them to produce finished goods is an example of ___________