Study guides, Class notes & Summaries

Successful Strategy correct answers Long-term, simple and agreed-upon objectives Profound understanding of competitive environment Objective appraisal of resources romantic view of leadership correct answers leader is the force in determining company's success external control view of leadership correct answers external forces determine org success, leader has limited influence ex, technological advancements, economic downturns, war Strategic management correct answers consists of ...

what is strategic management? correct answers the analyses, decisions, and actions an organization undertakes in order to create and sustain *competitive advantages* elaboarate: analyses, decisions and acitons taken during stratregic management correct answers analyses: analyzing the strategic goals (vision, mission) decisions: what industries should we compete in? how should we compete in those industries? actions: implementing their strategies what are the attributes of strategic m...

external control view of leadership correct answers situations in which external forces - where the leader has limited influence - determine the organization's success Strategic Management correct answers the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. competitive advantage correct answers a firm's resources and capabilities that enable it to overcome the competitive forces in its industry Operational Effectiveness...

To create a competitive edge companies need to focus on ________________ correct answers customers' evolving wants and needs Porter's three generic strategies: correct answers 1. Overall Cost Leadership 2. Differentiation 3. Focus Differentiation is perceived from the____________ correct answers client/customer Differentiated goods are the opposite of__________ correct answers luxury goods Luxury goods are only for__________. Differentiated goods are marketed to ____________ corr...

Strategic management correct answers the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantage Strategy correct answers ideas. decisions, and actions that enable a firm to succeed. (Analyze, formulate, implementate, evaluate) Levels of strategy correct answers 1. corporate (where we going, businesses?) 2. competitive (how are we going to compete?) 3. Functional (resources/capabilities) Effective Strategic leadership correct an...

Discrimination correct answers The wrongful act of distinguishing illicity among people not on the basis of individuals merit, but on the basis of prejudice. a) Racism b) Immorality c) Unethical behavior T/F the four forms of discrimination discussed in class are intentional unintentional., fundamental or institutional. correct answers FALSE (its intentional, unintentional, individual or institutional) T/F affirmative action was created to correct discrimination by creating opportunity for...

Studying the total business enterprise/Broad topics (Chapter 1) correct answers Environmental Forces: Macro-economic Industry competitive Firm: Managers/Strategists Decisions and actions Effective leadership Resources Capabilities Org. culture Strategy (Chapter 1) correct answers Tactics the govern an individual to make wiser decisions Goals of an organization (Chapter 1) correct answers Firms manage their resources, competitive environment effectively while managing their...

Leadership correct answers the process of transforming organizations from what they are to what the leader would have them become Setting a direction correct answers a strategic leadership activity of strategy analysis and strategy formulation Designing the organization correct answers a strategic leadership activity of building structures, teams, systems, and organizational processes that facilitate the implementation of the leaser's vision and strategies Designing the organization T...

Strategic control correct answers the process of monitoring and correcting a firm's strategy and performance Traditional approach to strategic control correct answers a sequential method of organizational control in which (1) strategies are formulated and top management sets goals, (2) strategies are implemented, and (3) performance is measured against the predetermined goal set. *They are most appropriate when the environment is stable, and relatively simple, goals and objectives can be me...

Globalization correct answers a term that has two meanings (1) the increase in international exchange, including trade in goods and services as well as exchange of money, ideas, and information (2) the growing similarity of laws, rules, norms, values, and ideas across countries *The source of national advantage; that is, why an industry in a given country is more (or less) successful than the some industry in another country *The sources of national advantage; that is, why an industry in a g...