BUAD 453 Midterm questions with || || || || ||
answers
strategy - CORRECT ANSWERS ✔✔a set of related actions that managers
|| || || || || || || || || || ||
take to increase their company's performance
|| || || || ||
strategic leadership - CORRECT ANSWERS ✔✔how to most effectively
|| || || || || || || || ||
manage a company's strategy-making process to create competitive advantage
|| || || || || || || ||
strategy formulation - CORRECT ANSWERS ✔✔the task of selecting
|| || || || || || || || ||
strategies
strategy implementation - CORRECT ANSWERS ✔✔task of putting strategies
|| || || || || || || || ||
into action - includes:
|| || ||
|| designing, delivering, and supporting products
|| || || ||
improving the efficiency and effectiveness of operations
|| || || || || ||
designing a company's organizational structure, control systems, and culture
|| || || || || || || ||
sustained competitive advantage - CORRECT ANSWERS ✔✔A company's
|| || || || || || || ||
strategies enable it to maintain above-average profitability for a number of
|| || || || || || || || || || ||
years
, general managers - CORRECT ANSWERS ✔✔responsible for the overall
|| || || || || || || || ||
performance of the company or for one of its major, self-contained subunits or
|| || || || || || || || || || || ||
divisions
||
functional manager - CORRECT ANSWERS ✔✔responsible for supervising a
|| || || || || || || || ||
particular function ||
levels of strategic management - CORRECT ANSWERS ✔✔corporate (CEO),
|| || || || || || || || ||
business (divisional managers), and functional (functional managers)
|| || || || || ||
business unit - CORRECT ANSWERS ✔✔self-contained division (with its
|| || || || || || || || ||
own functions ie finance, production, etc.) that provides a product/service for
|| || || || || || || || || || ||
a particular market
|| ||
mission - CORRECT ANSWERS ✔✔describes what the company does
|| || || || || || || ||
vision - CORRECT ANSWERS ✔✔defines a desired future state; it articulates
|| || || || || || || || || || ||
what the company would like to achieve
|| || || || || ||
values - CORRECT ANSWERS ✔✔state how managers and employees should
|| || || || || || || || ||
conduct themselves, how they should do business, and what kind of
|| || || || || || || || || || || ||
organization they should build || || ||
first component of the strategic management process - CORRECT ANSWERS
|| || || || || || || || || ||
✔✔crafting the organization's mission statement || || || ||
answers
strategy - CORRECT ANSWERS ✔✔a set of related actions that managers
|| || || || || || || || || || ||
take to increase their company's performance
|| || || || ||
strategic leadership - CORRECT ANSWERS ✔✔how to most effectively
|| || || || || || || || ||
manage a company's strategy-making process to create competitive advantage
|| || || || || || || ||
strategy formulation - CORRECT ANSWERS ✔✔the task of selecting
|| || || || || || || || ||
strategies
strategy implementation - CORRECT ANSWERS ✔✔task of putting strategies
|| || || || || || || || ||
into action - includes:
|| || ||
|| designing, delivering, and supporting products
|| || || ||
improving the efficiency and effectiveness of operations
|| || || || || ||
designing a company's organizational structure, control systems, and culture
|| || || || || || || ||
sustained competitive advantage - CORRECT ANSWERS ✔✔A company's
|| || || || || || || ||
strategies enable it to maintain above-average profitability for a number of
|| || || || || || || || || || ||
years
, general managers - CORRECT ANSWERS ✔✔responsible for the overall
|| || || || || || || || ||
performance of the company or for one of its major, self-contained subunits or
|| || || || || || || || || || || ||
divisions
||
functional manager - CORRECT ANSWERS ✔✔responsible for supervising a
|| || || || || || || || ||
particular function ||
levels of strategic management - CORRECT ANSWERS ✔✔corporate (CEO),
|| || || || || || || || ||
business (divisional managers), and functional (functional managers)
|| || || || || ||
business unit - CORRECT ANSWERS ✔✔self-contained division (with its
|| || || || || || || || ||
own functions ie finance, production, etc.) that provides a product/service for
|| || || || || || || || || || ||
a particular market
|| ||
mission - CORRECT ANSWERS ✔✔describes what the company does
|| || || || || || || ||
vision - CORRECT ANSWERS ✔✔defines a desired future state; it articulates
|| || || || || || || || || || ||
what the company would like to achieve
|| || || || || ||
values - CORRECT ANSWERS ✔✔state how managers and employees should
|| || || || || || || || ||
conduct themselves, how they should do business, and what kind of
|| || || || || || || || || || || ||
organization they should build || || ||
first component of the strategic management process - CORRECT ANSWERS
|| || || || || || || || || ||
✔✔crafting the organization's mission statement || || || ||
