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When selecting a business-level strategy, the firm determines who will be served, what needs those target customers have that it will satisfy, and how those needs will be satisfied

Economies of scope are cost savings a firm creates by successfully sharing resources and capabilities or transferring one or more corporate-level core competencies that were developed in one of its businesses to another of its businesses

Vertical integration exists when a company produces its own inputs (backward integration) or owns its own source of output distribution (forward integration)

Target’s brand promise “Expect More. Pay Less” and appeal to higher-income, fashion-conscious discount shoppers illustrates the __________ strategy.

Every firm uses all levels of strategy: corporate-level, merger and acquisition, international, and cooperative

A scientific hypothesis that is subsequently extensively tested and continues to appear valid may be called a

The curvilinear relationship of corporate performance and diversification indicates that:

Diversification strategies can be used with both value-creating and value-neutral objectives

If the businesses in the corporate portfolio are not worth more under the management of the corporation than they would be under any other ownership, then the corporate-level strategy has failed

Synergy exists when the value created by business units working together exceeds the value that those same units create working independently