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CHAPTER 5
Strategies in Action
CHAPTER OBJECTIVES
After studying this chapter, you should be able to do the following:
1. Discuss the value of establishing long- 7. Discuss joint ventures as a way to
term objectives. enter the Russian market.
2. Identify 16 types of business strategies. 8. Discuss the Balanced Scorecard.
3. Identify numerous examples of 9. Compare and contrast financial with
organizations pursuing different types strategic objectives.
of strategies.
10. Discuss the levels of strategies in
4. Discuss guidelines when particular large versus small firms.
strategies are most appropriate to
pursue. 11. Explain the First Mover Advantages
concept.
5. Discuss Porter’s five generic strategies.
12. Discuss recent trends in outsourcing.
6. Describe strategic management in
nonprofit, governmental, and small 13. Discuss strategies for competing
organizations. in turbulent, high-velocity
markets.
Assurance of Assurance of Assurance of Assurance of
Learning Exercise 5A Learning Exercise 5B Learning Exercise 5C Learning Exercise 5D
What Strategies Should Examining Strategy Articles Classifying Some Year 2009 How Risky Are Various
McDonald’s Pursue in Strategies Alternative Strategies?
2011–2013?
