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77) Consolidation keeps the company's strategy up to date by assessing progress towardstrategic goals and taking corrective action as needed.78) Managers engage in three levels of strategic planning.
79) Cost leadership, differentiation, and focus strategies are types of corporate-levelstrategies.80) A vertical integration strategy means that a firm will expand by adding new product lines.81) McDonald's addressed its lagging profitability by first closing stores operating below itsguidelines. McDonald's used a consolidation strategy.82) A business-level strategy is implemented by Pizza Hut, Domino's, Papa John's and LittleCaesar's in their competition with each other for pizza customers.