MGMT 449 Exam 1 || with Certified Answers.
A ______ describes "where we are going"- management's aspirations for the company and the
course and direction charted to achieve them. correct answers strategic vision
A _____ is a linked and closely integrated set of competitive assets centered around one or more
cross-functional capabilities correct answers Resource bundle
A company's current (or realized) strategy is a combination of which two strategy elements?
correct answers Deliberate or Proactive AND Emergent or Reactive
A company's ______ is the set of actions that its managers take to outperform the company's
competitors and achieve superior profitability. correct answers strategy
_____ set performance targets high enough to stretch an organization to perform at its full
potential and deliver the best possible results correct answers stretch objectives
A winning strategy must pass three tests correct answers The Fit Test, the Competitive
Advantage Test, and the Performance Test
The sum of a company's strategic vision, mission, objectives, and strategy constitute a _______
for coping with industry conditions, outperforming rivals, and making progress toward
aspirational goals correct answers strategic plan
______ are the products of complementary products, which are products that enhance the value
of the focal firm's products when they are put together correct answers complementors
Componenets of PESTEL correct answers Political
Environmental
Social
, Technological
Economic
Legal
Rivalry increases and becomes a stronger force when buyer demand is growing slowly. True or
false? correct answers True
The _____ encompasses the broad environmental context in which a company's industry is
situated correct answers Macro-environmental
A company's business model sets forth the logic for how its strategy will create _______ for the
customers and at the same time _______ sufficient enough to cover costs and realize a
________. correct answers value, generate revenues, profit
What are the four tests for competitiveness of a resource? How do these contribute to
competitive advantage? Sustainable competitive advantage? correct answers Valuable, Rare,
Inimitable, and Non substitutable
A balanced scorecard is widely used method for combining the use of both _____ and _____
objectives, tracking their achievement, and giving management a more complete and balanced
view of how well the organization is performing correct answers strategic and financial
a company's _____ are the beliefs, traits, and behavioral norms that company personnel are
expected to display in conducting the company's business and pursing its strategic vision and
mission correct answers values
A company achieves a competitive advantage when it provides buyers with superior _____
compared to rival sellers or offers the same value at a lower cost to the firm correct answers
value
A ______ describes "where we are going"- management's aspirations for the company and the
course and direction charted to achieve them. correct answers strategic vision
A _____ is a linked and closely integrated set of competitive assets centered around one or more
cross-functional capabilities correct answers Resource bundle
A company's current (or realized) strategy is a combination of which two strategy elements?
correct answers Deliberate or Proactive AND Emergent or Reactive
A company's ______ is the set of actions that its managers take to outperform the company's
competitors and achieve superior profitability. correct answers strategy
_____ set performance targets high enough to stretch an organization to perform at its full
potential and deliver the best possible results correct answers stretch objectives
A winning strategy must pass three tests correct answers The Fit Test, the Competitive
Advantage Test, and the Performance Test
The sum of a company's strategic vision, mission, objectives, and strategy constitute a _______
for coping with industry conditions, outperforming rivals, and making progress toward
aspirational goals correct answers strategic plan
______ are the products of complementary products, which are products that enhance the value
of the focal firm's products when they are put together correct answers complementors
Componenets of PESTEL correct answers Political
Environmental
Social
, Technological
Economic
Legal
Rivalry increases and becomes a stronger force when buyer demand is growing slowly. True or
false? correct answers True
The _____ encompasses the broad environmental context in which a company's industry is
situated correct answers Macro-environmental
A company's business model sets forth the logic for how its strategy will create _______ for the
customers and at the same time _______ sufficient enough to cover costs and realize a
________. correct answers value, generate revenues, profit
What are the four tests for competitiveness of a resource? How do these contribute to
competitive advantage? Sustainable competitive advantage? correct answers Valuable, Rare,
Inimitable, and Non substitutable
A balanced scorecard is widely used method for combining the use of both _____ and _____
objectives, tracking their achievement, and giving management a more complete and balanced
view of how well the organization is performing correct answers strategic and financial
a company's _____ are the beliefs, traits, and behavioral norms that company personnel are
expected to display in conducting the company's business and pursing its strategic vision and
mission correct answers values
A company achieves a competitive advantage when it provides buyers with superior _____
compared to rival sellers or offers the same value at a lower cost to the firm correct answers
value
