BAD 4013 (Exam 1 CH 1-4) questions
with verified answers
strategic plans - correct answer ✔✔carefully crafted set of steps that company intends to follow to be
successful
franchising - correct answer ✔✔organization grants the right to use its brand name, products, and
processes to other organizations in exchange for an up-front payment & a percentage of franchisees'
revenue
economies of scale - correct answer ✔✔cost advantage created when a company can produce a
good/service at a lower per unit price due to producing good/service in large quantities
strategic ploy - correct answer ✔✔specific move designed to outwit/trick competitors
strategy as perspective - correct answer ✔✔how executives interpret the competitive landscape around
them
business model - correct answer ✔✔describes process through which company hopes to earn profits
strategy as pattern - correct answer ✔✔extent to which company's actions over time are consistent
nonrealized strategy - correct answer ✔✔parts of intended plan that are abandoned
realized strategy - correct answer ✔✔plan of action that organization actually follows
emergent strategy - correct answer ✔✔unplanned direction that arises in response to unexpected
opportunities & challenges
, strategy as position - correct answer ✔✔company's place in industry relative to its competitors
strategic management - correct answer ✔✔examines how actions & events involving top executives,
firms, & industries influence a company's success/failure
intended strategy - correct answer ✔✔plan that an organization hopes to execute
deliberate strategy - correct answer ✔✔parts of intended plan that organization continues to pursue
over time
vision statement - correct answer ✔✔what the organization hopes to become in the future
mission statement - correct answer ✔✔reasons for an organization's existence
Characteristics of vision statement - correct answer ✔✔state aspirations for org's future
sets standard for employees to work toward
inspires the org's members
Characteristics of mission statement - correct answer ✔✔captures past & present elements of the org
explains to stakeholders role of org in society
answers question 'who are we'
goals - correct answer ✔✔narrower aims that organizations pursue to serve their visions and missions
The mission statement & vision statement should (fill in blank) for the org - correct answer ✔✔work to
present unified message
Non-profit org has a (fill in blank) statement to 'make this the last generation' of individuals affected w/
disease. The same org has a (fill in blank) statement to 'provide services & support for families affected'
by disease - correct answer ✔✔vision
with verified answers
strategic plans - correct answer ✔✔carefully crafted set of steps that company intends to follow to be
successful
franchising - correct answer ✔✔organization grants the right to use its brand name, products, and
processes to other organizations in exchange for an up-front payment & a percentage of franchisees'
revenue
economies of scale - correct answer ✔✔cost advantage created when a company can produce a
good/service at a lower per unit price due to producing good/service in large quantities
strategic ploy - correct answer ✔✔specific move designed to outwit/trick competitors
strategy as perspective - correct answer ✔✔how executives interpret the competitive landscape around
them
business model - correct answer ✔✔describes process through which company hopes to earn profits
strategy as pattern - correct answer ✔✔extent to which company's actions over time are consistent
nonrealized strategy - correct answer ✔✔parts of intended plan that are abandoned
realized strategy - correct answer ✔✔plan of action that organization actually follows
emergent strategy - correct answer ✔✔unplanned direction that arises in response to unexpected
opportunities & challenges
, strategy as position - correct answer ✔✔company's place in industry relative to its competitors
strategic management - correct answer ✔✔examines how actions & events involving top executives,
firms, & industries influence a company's success/failure
intended strategy - correct answer ✔✔plan that an organization hopes to execute
deliberate strategy - correct answer ✔✔parts of intended plan that organization continues to pursue
over time
vision statement - correct answer ✔✔what the organization hopes to become in the future
mission statement - correct answer ✔✔reasons for an organization's existence
Characteristics of vision statement - correct answer ✔✔state aspirations for org's future
sets standard for employees to work toward
inspires the org's members
Characteristics of mission statement - correct answer ✔✔captures past & present elements of the org
explains to stakeholders role of org in society
answers question 'who are we'
goals - correct answer ✔✔narrower aims that organizations pursue to serve their visions and missions
The mission statement & vision statement should (fill in blank) for the org - correct answer ✔✔work to
present unified message
Non-profit org has a (fill in blank) statement to 'make this the last generation' of individuals affected w/
disease. The same org has a (fill in blank) statement to 'provide services & support for families affected'
by disease - correct answer ✔✔vision
