Globus 201 Final Exam Questions and Essays
with 100% Correct Answers
value chain -✔️✔️ the internal activities a firm engages in when transforming inputs into outputs;
each activity adds incremental value
primary activities -✔️✔️ firm activities that add value directly by transforming inputs into outputs
as the firm moves a product or service horizontally along the internal value chain
Supply Chain Mgt
Operations
Distribution
Marketing and Sales
After-Sales Service
support activites -✔️✔️ firm activities that add value indirectly, but are necessary to sustain
primary activities
R&D
Info System
Human Resource
Accounting and Finance
Firm infrastructure including processes, policies, and procedures
strategic activity system -✔️✔️ the conceptualization of a firm as a network of interconnected
activities
, SWOT analysis -✔️✔️ a framework that allows managers to synthesize insights obtained from an
internal analysis of the company's strengths and weaknesses (S and W) with those from an
analysis of external opportunities and threats (O and T) to derive strategic implementations
business level strategy -✔️✔️ the goal-directed actions managers take in their quest for
competitive advantage when competing in a single product market
A successful business level strategy should answer -✔️✔️ Who
What
Why
How
Strategic trade offs -✔️✔️ choices between a cost or value position
differentiation strategy -✔️✔️ Seeks to create higher value for customers than the value that
competitors create
2 types of business strategy -✔️✔️ Cost leader
Differentiation
cost leadership strategy -✔️✔️ Create the same or similar value for customers by delivering
products or services at a lower cost than competitors
scope of competition -✔️✔️ Whether to pursue a specific, narrow part of the market or go after
the broad market
Focused cost leadership and focused differentiation strategy -✔️✔️ Are essentially the same as
the broad generic strategies except that the competitive scope is narrower
with 100% Correct Answers
value chain -✔️✔️ the internal activities a firm engages in when transforming inputs into outputs;
each activity adds incremental value
primary activities -✔️✔️ firm activities that add value directly by transforming inputs into outputs
as the firm moves a product or service horizontally along the internal value chain
Supply Chain Mgt
Operations
Distribution
Marketing and Sales
After-Sales Service
support activites -✔️✔️ firm activities that add value indirectly, but are necessary to sustain
primary activities
R&D
Info System
Human Resource
Accounting and Finance
Firm infrastructure including processes, policies, and procedures
strategic activity system -✔️✔️ the conceptualization of a firm as a network of interconnected
activities
, SWOT analysis -✔️✔️ a framework that allows managers to synthesize insights obtained from an
internal analysis of the company's strengths and weaknesses (S and W) with those from an
analysis of external opportunities and threats (O and T) to derive strategic implementations
business level strategy -✔️✔️ the goal-directed actions managers take in their quest for
competitive advantage when competing in a single product market
A successful business level strategy should answer -✔️✔️ Who
What
Why
How
Strategic trade offs -✔️✔️ choices between a cost or value position
differentiation strategy -✔️✔️ Seeks to create higher value for customers than the value that
competitors create
2 types of business strategy -✔️✔️ Cost leader
Differentiation
cost leadership strategy -✔️✔️ Create the same or similar value for customers by delivering
products or services at a lower cost than competitors
scope of competition -✔️✔️ Whether to pursue a specific, narrow part of the market or go after
the broad market
Focused cost leadership and focused differentiation strategy -✔️✔️ Are essentially the same as
the broad generic strategies except that the competitive scope is narrower
