JMU COB 487 Rutherford Exam #1 (100% Verified)

Strategos correct answers Word comes from "The art of the army general" 3 Models of Strategy correct answers 1) Strategy Process Model 2) Emergent Strategy Model 3) 5 P Model Draw the Strategy Process Model correct answers Mission Goals and Objectives SW OT Corporate Level Business Level Functional Strategy Implementation Results Draw Emergent Strategy Model correct answers 4 boxes List 5 P's Model correct answers Plan Ploy Position Pattern Perspective Vision correct answers "What the organization hopes to become in the future" Mission Statement correct answers "The reason for an organization's existence" ex. To inspire and nuture the human spirit-one person,one cup,one neighborhood at a time. - Starbucks SMART Goals correct answers S-Specific M- Measurable A- Aggressive R- Realistic T- Time Bound Balanced Scorecard correct answers An approach to assessing performance in 4 major areas (think "CLIF") 1) Financial 2) Customer 3) Internal Processes 4) Learning & Growth Stakeholder Approach correct answers The firm is a coalition of interest groups - it seeks to balance their different objetives Shareholder Approach correct answers The firm exists to maximize the wealth of the shareholders (owners)