CAPSIM EXAM 1 QUESTIONS AND ANSWERS 100% PASS

CAPSIM EXAM 1 QUESTIONS AND ANSWERS 100% PASS strategy - a set of actions that managers take to increase their company's performance relative to industry rivals competitive advantage - a strategy is implemented to create a _____ ___ over other companies competitive advantage - a company is said to have ___ ____ when its profitability is greater than the average profitability for all firms in the industry. competitive advantage - is sustained when it is maintained for several years. general managers - ___ ___ bears the responsibility for overall performance functional managers - ___ ____ supervise a particular function( task, activity, or operation) Strategic managers - Corporate Managers oversee strategy for whole company Business Managers lead the strategy for their self-contained division Functional Managers are responsible for one organizational activity Strategy Making Process - Select the corporate mission statement and major goals 2100% Pass Guarantee Emily Charlene All Rights Reserved © 2025 Analyze the external competitive environment to identify strategic opportunities and threats in the operating environment Analyze the internal competitive environment to pinpoint the strengths and weaknesses of the organization Select the strategy- contingent upon findings in steps 1, 2, 3 Implement the strategy at every level of the company The feedback loop helps managers evaluate the suc