BMGT 481W Exam 1 UPDATED ACTUAL
Exam Questions and CORRECT Answers
TMT Responsibilities - CORRECT ANSWER - embrace the organizations vision and
mission; meticulously analyze the internal and external environments; set realistic goals and
objectives; craft implement and manage tactics/ strategies for the continuous achievement of
above average returns
5 Strategic Management Activities - CORRECT ANSWER - SWOT Analysis, Strategic
Intent, Strategy Formulation, Strategy implementation, strategy management
SWOT Analysis - CORRECT ANSWER - Strengths, weaknesses, opportunities, threats
Analyze the internal and external environments to assess the firms SWOT
Scanning, monitoring and gathering competitive intelligence
Strategic Intent - CORRECT ANSWER - reestablish short and long term goals and
objectives
Strategy formulation - CORRECT ANSWER - translate goals and objectives into tactical
strategic action plans
Strategy implementation - CORRECT ANSWER - communicate and activate the tactical
and strategic plan
Strategy management - CORRECT ANSWER - assess interim successes and failures and
adjust course as conditions permit
Business/1st level corporations - CORRECT ANSWER - value creating a competitive
advantage through marketing products and services
, Achieving sustainable competitive advantage in business level - CORRECT ANSWER -
offering products / services that are distinctive that also provide profit maximization
opportunities for the firm
4 methods of achieving distinctiveness - CORRECT ANSWER - uniqueness of
product/service; added or special component; lower cost levels; preferential delivery
Conglomerate/ 2nd level corporations - CORRECT ANSWER - value creating a
competitive advantage through management of a portfolio of subsidiary companies (buy/selling
other operating companies)
Achieving sustainable competitive advantage in the conglomerate level - CORRECT
ANSWER - creating a portfolio of a synergistic business
Successful subsidiary companies - CORRECT ANSWER - provide shared knowledge,
operating systems, facilities, and contact networks
Types of conglomerate corporations - CORRECT ANSWER - joint ventures, corporate
partnering, acquistions or disvestitures of operating companies (most common)
Environmental scanning - CORRECT ANSWER - scanning is general surveillance activity
early on to alert TMT of emerging threats/ weakness
done before SWOT analysis - preliminary action
External environment - CORRECT ANSWER - general and competitive; all issues,
occurrences, trends, that are outside of the firm; issues are BEYOND direct control of the TMT
Internal environment - CORRECT ANSWER - resources and leadership (combine to
determine the strength of strategic competencies); all issues, occurrences, trends, that are within
the firm; issues are WITHIN the control of the TMT
Exam Questions and CORRECT Answers
TMT Responsibilities - CORRECT ANSWER - embrace the organizations vision and
mission; meticulously analyze the internal and external environments; set realistic goals and
objectives; craft implement and manage tactics/ strategies for the continuous achievement of
above average returns
5 Strategic Management Activities - CORRECT ANSWER - SWOT Analysis, Strategic
Intent, Strategy Formulation, Strategy implementation, strategy management
SWOT Analysis - CORRECT ANSWER - Strengths, weaknesses, opportunities, threats
Analyze the internal and external environments to assess the firms SWOT
Scanning, monitoring and gathering competitive intelligence
Strategic Intent - CORRECT ANSWER - reestablish short and long term goals and
objectives
Strategy formulation - CORRECT ANSWER - translate goals and objectives into tactical
strategic action plans
Strategy implementation - CORRECT ANSWER - communicate and activate the tactical
and strategic plan
Strategy management - CORRECT ANSWER - assess interim successes and failures and
adjust course as conditions permit
Business/1st level corporations - CORRECT ANSWER - value creating a competitive
advantage through marketing products and services
, Achieving sustainable competitive advantage in business level - CORRECT ANSWER -
offering products / services that are distinctive that also provide profit maximization
opportunities for the firm
4 methods of achieving distinctiveness - CORRECT ANSWER - uniqueness of
product/service; added or special component; lower cost levels; preferential delivery
Conglomerate/ 2nd level corporations - CORRECT ANSWER - value creating a
competitive advantage through management of a portfolio of subsidiary companies (buy/selling
other operating companies)
Achieving sustainable competitive advantage in the conglomerate level - CORRECT
ANSWER - creating a portfolio of a synergistic business
Successful subsidiary companies - CORRECT ANSWER - provide shared knowledge,
operating systems, facilities, and contact networks
Types of conglomerate corporations - CORRECT ANSWER - joint ventures, corporate
partnering, acquistions or disvestitures of operating companies (most common)
Environmental scanning - CORRECT ANSWER - scanning is general surveillance activity
early on to alert TMT of emerging threats/ weakness
done before SWOT analysis - preliminary action
External environment - CORRECT ANSWER - general and competitive; all issues,
occurrences, trends, that are outside of the firm; issues are BEYOND direct control of the TMT
Internal environment - CORRECT ANSWER - resources and leadership (combine to
determine the strength of strategic competencies); all issues, occurrences, trends, that are within
the firm; issues are WITHIN the control of the TMT
