MAN 4720 UCF CAPSTONE
MIDTERM EXAM COMPLETE
lo
QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
yc
ANSWERS) A+ GRADED
ud
St
, Competitive Advantage
Generating above average returns. Measured relative to other firms. Should rely on a more
holistic perspective vs. just using one metric.
Strategic Analysis framework
AFI
Strategy
quest to gain and sustain competitive advantage over
ck
Companies
array of activities
lo
vision statement
paints a picture of where a company wants to be
yc
Balanced Scorecard
harnesses multiple internal and external performance metrics in order to balance both financial
and strategic goals. USED IN IMPLEMENTATION PHASE
ud
strategic management
an integrative management field that combines analysis, formulation, and implementation in the
quest for competitive advantages
competitive disadvantage
St
under performance relative to other competitors in the same industry or industry average
competitive parity
performance of two or more firms at the same level
sustainable competitive advantage
outperforming competitors or the industry over a prolonged period