BUAD 453 FINAL EXAM
Strategy - correct answer ✔✔a set of related actions that managers take to increase their company's
performance
Strategic leadership - correct answer ✔✔creating competitive advantage through effective management
of the strategy-making process.
Strategy formulation - correct answer ✔✔Selecting strategies based on analysis of an organization's
external and internal environment
Strategy implementation - correct answer ✔✔Putting strategies into action
Shareholder Value - correct answer ✔✔Returns that shareholders earn from purchasing shares in a
company
Profitability - correct answer ✔✔The return a company makes on the capital invested in the enterprise
Profit growth - correct answer ✔✔The increase in net profit over time
Competitive advantage - correct answer ✔✔The achieved advantage over rivals when a company's
profitability is greater than the average profitability of firms in its industry
Sustained competitive advantage - correct answer ✔✔The company's strategies enable it to maintain
above-average profitability for a number of years
Business model - correct answer ✔✔The conception of how strategies should work together as a whole
to enable the company to achieve competitive advantage
, General Managers - correct answer ✔✔Managers who bear responsibility for overall performance of the
company or for one of its major, self-contained subunits or divisions
Functional Managers - correct answer ✔✔managers responsible for supervising a particular function;
that is a task, an activity, or an operation such as accounting, marketing, R&D, information technology, or
logistics
Multidivisional company - correct answer ✔✔A company that competes in several different businesses
and has created a separate, self-contained division to manage each.
Business unit - correct answer ✔✔A self-contained division that provides a product or service for a
particular market
Mission - correct answer ✔✔The purpose of the company, or a statement of what the company strives
to do.
Vision - correct answer ✔✔The articulation of a company's desired achievements of future state.
Values - correct answer ✔✔A statement of how employees should conduct themselves and their
business to help achieve the company mission
SWOT Analysis - correct answer ✔✔The comparison of strengths, weaknesses, opportunities, and
threats
Scenario planning - correct answer ✔✔Formulating plans that are based upon "what-if" scenarios about
the future
Escalating commitment - correct answer ✔✔A cognitive bias that occurs when decision makers, have
already committed significant resources to a project, commit even more resources after receiving
feedback that the project is failing
Reasoning by analogy - correct answer ✔✔Use of simple analogies to make sense out of complex
problems
Strategy - correct answer ✔✔a set of related actions that managers take to increase their company's
performance
Strategic leadership - correct answer ✔✔creating competitive advantage through effective management
of the strategy-making process.
Strategy formulation - correct answer ✔✔Selecting strategies based on analysis of an organization's
external and internal environment
Strategy implementation - correct answer ✔✔Putting strategies into action
Shareholder Value - correct answer ✔✔Returns that shareholders earn from purchasing shares in a
company
Profitability - correct answer ✔✔The return a company makes on the capital invested in the enterprise
Profit growth - correct answer ✔✔The increase in net profit over time
Competitive advantage - correct answer ✔✔The achieved advantage over rivals when a company's
profitability is greater than the average profitability of firms in its industry
Sustained competitive advantage - correct answer ✔✔The company's strategies enable it to maintain
above-average profitability for a number of years
Business model - correct answer ✔✔The conception of how strategies should work together as a whole
to enable the company to achieve competitive advantage
, General Managers - correct answer ✔✔Managers who bear responsibility for overall performance of the
company or for one of its major, self-contained subunits or divisions
Functional Managers - correct answer ✔✔managers responsible for supervising a particular function;
that is a task, an activity, or an operation such as accounting, marketing, R&D, information technology, or
logistics
Multidivisional company - correct answer ✔✔A company that competes in several different businesses
and has created a separate, self-contained division to manage each.
Business unit - correct answer ✔✔A self-contained division that provides a product or service for a
particular market
Mission - correct answer ✔✔The purpose of the company, or a statement of what the company strives
to do.
Vision - correct answer ✔✔The articulation of a company's desired achievements of future state.
Values - correct answer ✔✔A statement of how employees should conduct themselves and their
business to help achieve the company mission
SWOT Analysis - correct answer ✔✔The comparison of strengths, weaknesses, opportunities, and
threats
Scenario planning - correct answer ✔✔Formulating plans that are based upon "what-if" scenarios about
the future
Escalating commitment - correct answer ✔✔A cognitive bias that occurs when decision makers, have
already committed significant resources to a project, commit even more resources after receiving
feedback that the project is failing
Reasoning by analogy - correct answer ✔✔Use of simple analogies to make sense out of complex
problems
