ADMN 232 Final Review Practice Questions And Answers

ADMN 232 Final Review Practice Questions And Answers competitive advantage - CORRECT ANSWER-using resources to provide greater value for customers than competitors can sustainable competitive advantage - CORRECT ANSWER-competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate situational analysis (SWOT analysis) - CORRECT ANSWER-an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment portfolio strategy - CORRECT ANSWER-a corporate-level strategy that minimizes risk by diversifying investment among various businesses or product lines unrelated diversification - CORRECT ANSWER-creating or acquiring companies in completely unrelated businesses BCG Matrix - CORRECT ANSWER-a portfolio strategy developed by the Boston Consulting Group that categorizes a corporation's businesses by growth rate and relative market share and helps managers decide how to invest corporate funds star - CORRECT ANSWER-a company that has a large share of fast-growing market question mark - CORRECT ANSWER-a company that has a small share of a fast-growing market cash cow - CORRECT ANSWER-a company that has a large share of a slow-growing market dog - CORRECT ANSWER-a company that has a small share of a slow-growing market grand strategy - CORRECT ANSWER-a broad corporate-level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or sub-units may use in deciding what businesses they should be in growth strategy - CORRECT ANSWER-increase profits, revenues, market share, or the number of place (stores, offices, locations) in which the company does business five industry forces - CORRECT ANSWER-1. competitive rivalry 2. threat of new entrants 3. threat of substitute products or services 4. bargaining power of suppliers 5. bargaining power of buyers