UTK BUAD 453 Exam 1 study guide
Questions and Answers 100% Pass
What are some examples of corporate core competencies? - ✔✔Quality
Innovation
Efficiency
Customer responsiveness
Examples:
-Apple: Leveraging industrial design to integrate hardware and software in innovative
and category-defining mobile devices that take the user's experience to a new level
-Honda: Designing and manufacturing small, but powerful, and highly reliable internal
combustion engines
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,Core competencies - ✔✔Are unique strengths embedded within a firm; they allow a
firm to differentiate its products or services such that the firm can create greater value
for customers and/or produce output at a lower cost.
What are typical levels of strategy that a company must consider? - ✔✔Corporate-Level
Strategy
Business-Level Strategy
Managerial-Level Strategic Decision-Making
What are the four conditions for organizational success? - ✔✔1.Goals & Values— Start
with Why (golden circle)
2.Resources & Capabilities
3.Organizational Structure & Systems
4.Profound understanding of the competitive environment
What are the three Ds? - ✔✔DIAGNOSE
DECIDE
DELIVER
What are the 6 Steps of strategic planning process of the of the Strategy in 3Dtextbook? -
✔✔STEP 1: Define the corporate mission, vision, values, and goals.
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,STEP 2 or 3: Diagnose externally
STEP 2 or 3: Diagnose internally
STEP 4: Based on the internal and external diagnosis, we generate alternatives and
decide among them
STEP 5: Deliver - Implement the decisions and track process using the balanced
scorecard.
STEP 6: Feed back loop
Describe the strategic positioning continuum? - ✔✔Provides a glimpse into the different
ways in which multi-stakeholder groups can approach strategy
How would you identify cost leaders? - ✔✔Manage to emphasize efficiency at every
step of the value chain: production, manufacturing, sales, and customer service.
What are the words that comprise the acronym STEEP? - ✔✔Sociocultural
Technological
Economic
Ecological
Political and legal
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, What are examples of each STEEP analysis component for the premium chocolate
industry? - ✔✔Sociocultural:
Higher demand for chocolate as an antioxidant (healthy!) : Opportunity
Forced & child labor used for cocoa production; Increased customer awareness/care for
ethically produced products : Threat
Technological:
Very simple technology
Handmade products (smaller companies) : Both Opportunity/neutral
Economic:
Seasonal sales, especially around Christmas
Online sales growing : Both neutral
Ecological:
Environmental concerns about packaging and procurement : threat
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Questions and Answers 100% Pass
What are some examples of corporate core competencies? - ✔✔Quality
Innovation
Efficiency
Customer responsiveness
Examples:
-Apple: Leveraging industrial design to integrate hardware and software in innovative
and category-defining mobile devices that take the user's experience to a new level
-Honda: Designing and manufacturing small, but powerful, and highly reliable internal
combustion engines
100% Pass Guarantee Emilly Charlotte, All Rights Reserved © 2025 1
,Core competencies - ✔✔Are unique strengths embedded within a firm; they allow a
firm to differentiate its products or services such that the firm can create greater value
for customers and/or produce output at a lower cost.
What are typical levels of strategy that a company must consider? - ✔✔Corporate-Level
Strategy
Business-Level Strategy
Managerial-Level Strategic Decision-Making
What are the four conditions for organizational success? - ✔✔1.Goals & Values— Start
with Why (golden circle)
2.Resources & Capabilities
3.Organizational Structure & Systems
4.Profound understanding of the competitive environment
What are the three Ds? - ✔✔DIAGNOSE
DECIDE
DELIVER
What are the 6 Steps of strategic planning process of the of the Strategy in 3Dtextbook? -
✔✔STEP 1: Define the corporate mission, vision, values, and goals.
100% Pass Guarantee Emilly Charlotte, All Rights Reserved © 2025 2
,STEP 2 or 3: Diagnose externally
STEP 2 or 3: Diagnose internally
STEP 4: Based on the internal and external diagnosis, we generate alternatives and
decide among them
STEP 5: Deliver - Implement the decisions and track process using the balanced
scorecard.
STEP 6: Feed back loop
Describe the strategic positioning continuum? - ✔✔Provides a glimpse into the different
ways in which multi-stakeholder groups can approach strategy
How would you identify cost leaders? - ✔✔Manage to emphasize efficiency at every
step of the value chain: production, manufacturing, sales, and customer service.
What are the words that comprise the acronym STEEP? - ✔✔Sociocultural
Technological
Economic
Ecological
Political and legal
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, What are examples of each STEEP analysis component for the premium chocolate
industry? - ✔✔Sociocultural:
Higher demand for chocolate as an antioxidant (healthy!) : Opportunity
Forced & child labor used for cocoa production; Increased customer awareness/care for
ethically produced products : Threat
Technological:
Very simple technology
Handmade products (smaller companies) : Both Opportunity/neutral
Economic:
Seasonal sales, especially around Christmas
Online sales growing : Both neutral
Ecological:
Environmental concerns about packaging and procurement : threat
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