12. which of the following describes the overall aims of a business organization?

a. goals
b. mission
c. objectives
d. strategy

13. which of the following strategies answers the question, "how do we compete? "

a. functional-level
b. corporate-level
c. department-level
d. business unit-level

14. which of the following is an example of modern management?

a. production economy
b. concern for employees
c. less trusting of management
d. command-and-control order

15. which of the following competitive forces brings low prices, high costs, and low profits?

a. threat of new entrants
b. rivalry among existing firms
c. availability of complementary products
d. bargaining power of suppliers

16. a company's management decides that it will "grow slowly" for the next two years. this is an example of strategy.

a. retrenchment
b. global operations
c. growth
d. stability

17. when a grocery store analyzes its major advantages over competitors, it's analyzing its

a. threats.
b. strengths.
c. weaknesses.
d. opportunities.

18. when a bakery analyzes the effects of a new competitor entering the neighborhood and its potential impact on its business, the bakery is analyzing its

a. weaknesses.
b. strengths.
c. opportunities.
d. threats.

19. if a country's cpi steadily increases, which of the following scenarios is most likely to occur?

a. inflation stays the same
b. inflation decreases
c. deflation stays the same
d. inflation increases

20. the vice president of marketing develops the strategy.

a. corporate
b. functional
c. department
d. business unit