LSUS MBA 705 final exam questions
and answers
Weaknesses-Threat: ✔✔"Defensive" alternatives, eliminate or minimize a
weakness in order to minimize the effect of a threat.
Strength-Threat: ✔✔Utilize a strength to minimize the effect of a threat.
Weakness-Opportunity: ✔✔Shore up a weakness to enable the org to take
advantage of an opportunity.
mission ✔✔denifies your company's purpose and is a way to publicly share why
your company exists
Leadership Types ✔✔transactional and transformationalbusiness strategy ✔✔how
a business unit competes with its rivals; competitive strategy
business unit ✔✔organizational entity with its own unique mission, set of
competitors & industry
competitive advantage ✔✔state whereby a business unit's successful strategies
cannot be easily duplicated by its competitors
, differentiation strategy ✔✔in which a larger business produces & markets to the
entire industry products or services that can be readily distinguished from those
of its competitors
first-mover advantages ✔✔benefits derived from being the first firm to offer a
new or modified product or service
focus differentiation strategy ✔✔in which a smaller business produces highly
differentiated products or services for the specialized needs of a market niche.
Focus—Low-Cost-Differentiation Strategy ✔✔in which a smaller business
produces highly differentiated products or services for the specialized needs of a
select group of customers while keeping its costs low.
Focus low-cost strategy ✔✔in which a smaller business keeps overall costs low
while producing no-frills products or services for a market niche with elastic
demand.
generic strategies ✔✔strategies that can be adopted by business units to guide
their organizations
intrapreneurship ✔✔the creation of new business ventures within an existing firm
and answers
Weaknesses-Threat: ✔✔"Defensive" alternatives, eliminate or minimize a
weakness in order to minimize the effect of a threat.
Strength-Threat: ✔✔Utilize a strength to minimize the effect of a threat.
Weakness-Opportunity: ✔✔Shore up a weakness to enable the org to take
advantage of an opportunity.
mission ✔✔denifies your company's purpose and is a way to publicly share why
your company exists
Leadership Types ✔✔transactional and transformationalbusiness strategy ✔✔how
a business unit competes with its rivals; competitive strategy
business unit ✔✔organizational entity with its own unique mission, set of
competitors & industry
competitive advantage ✔✔state whereby a business unit's successful strategies
cannot be easily duplicated by its competitors
, differentiation strategy ✔✔in which a larger business produces & markets to the
entire industry products or services that can be readily distinguished from those
of its competitors
first-mover advantages ✔✔benefits derived from being the first firm to offer a
new or modified product or service
focus differentiation strategy ✔✔in which a smaller business produces highly
differentiated products or services for the specialized needs of a market niche.
Focus—Low-Cost-Differentiation Strategy ✔✔in which a smaller business
produces highly differentiated products or services for the specialized needs of a
select group of customers while keeping its costs low.
Focus low-cost strategy ✔✔in which a smaller business keeps overall costs low
while producing no-frills products or services for a market niche with elastic
demand.
generic strategies ✔✔strategies that can be adopted by business units to guide
their organizations
intrapreneurship ✔✔the creation of new business ventures within an existing firm
