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Part A: Answer the following questions in one or more brief paragraphs. Each answer is worth 20 points. 1. Describe the four basic types of
Part A: Answer the following questions in one or more brief paragraphs. Each answer is worth 20 points. 1. Describe the four basic types of organizational structures, and explain why it's important for companies to align their organizational structure to their strategy. 2. What are three powerful management tools to Improve strategy execution? Explain how each of these tools helps to execute strategy, Which tool(s) should a company use when a one-time quan- tum improvement is needed, and which tool(s) when more incremental changes are needed? Part B: Answer each of the following questions in one to four sentences. Each answer is worth 6 points. 1. Using the five forces framework, describe which force is strongest and why. 2. Describe the three tests that can be used to determine if a company has a winning strategy. 3. List the five stages to crafting and executing a company's strategy. What are a few main aspects the strategy-execution process must manage? 4. Name the five generic competitive strategies. Of these, which strategy works best when a company wishes to focus on a wide range of buyers with unique or valued product attributes? What are a few pitfalls of this strategy? 5. What are defensive strategies? How does a defensive strategy help a company, and what are a few examples of this strategy? 6. What is outsourcing? When does outsourcing company value-chain activities to outside vendors make sense? What are some benefits of outsourcing?7. What are the five main strategic options for entering foreign markets? Which of these should a company choose when it has a sought-after technology but low resources to enter foreign markets? What is a risk of this strategy? 8. What are the three ways a company can enter a new business to achieve diversification? Which of these is best when a company needs to diversify into a new industry? Why? 9. Describe corporate social responsibility (CSR). What is meant by "sustainable business practices," and why are these important? 10. Assuming the following from company XYZ's financial statement, calculate the gross profit margins for each year (show your work). What do the gross profit margins tell you about company XYZ? 2021: Sales revenues = $800,000, Cost of goods sold = $350,000. 2020: Sales revenues = $795,000. Cost of goods sold = $600,000
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