Globus Exam 1 || 100% Error-Free Solutions.
strategic management correct answers integrative management field that combines analysis,
formulation, and implementation in the quest for competitive advantage
strategy correct answers the set of goal-directed actions a firm takes to gain and sustain
superior performance relative to competitors
good strategy correct answers enable a firm to achieve superior performance relative to its
competitors. Consisted of
1) a diagnosis of the competitive challenge.
2) a guiding policy to address the competitive challenge.
3) a set of coherent actions to implement a firm's guiding policy
competitive advantage correct answers superior performance relative to other competitors in
the same industry or the industry average
sustainable competitive advantage correct answers outperforming competitors or the industry
average over a prolonged period of time
competitive disadvantage correct answers under performance relative to other competitors in
the same industry or the industry average
competitive parity correct answers performance of two or more firms at the same level
vision correct answers a statement about what an organization ultimately wants to
accomplish; captures the company's aspirations
mission correct answers Description of what an organization actually does—the products and
services it plans to provide, and the markets in which it will compete.
core values statement correct answers statement of principles to guide an organization as it
works to achieve its vision and fulfill its mission, for both internal conduct and external
interactions; it often includes explicit ethical considerations
organizational core values correct answers ethical standards and norms that govern the
behavior of individuals within a firm or organization
Product-Oriented Vision Statements correct answers defines a business in terms of a good or
service provided
customer oriented vision statement correct answers defines a business in terms of providing
solutions to customer needs
AFI strategy framework correct answers A model that links three interdependent strategic
management tasks—analyze, formulate, and implement—that, together, help managers plan
and implement a strategy that can improve performance and result in competitive advantage.
1) explains and predicts differences in firm performance
2)helps managers formulate and implement a strategy that can result in superior performance
, Strategic Leadership correct answers executives' use of power and influence to direct the
activities of others when pursuing an organization's goals
upper-echelons theory correct answers A conceptual framework that views organizational
outcomes—strategic choices and performance levels—as reflections of the values of the
members of the top management team.
strategy formulation correct answers concerns the choice of strategy in terms of where and
how to compete
strategy implementation correct answers concerns the organization, coordination, and
integration of how work gets done
Corporate Strategy correct answers concerns questions relating to where to compete in terms
of industry, markets, and geography
Business Strategy correct answers concerns the question of how to compete. Three generic
business strategies are available: cost leadership, differentiation, or value innovation.
Funtional Strategy correct answers concerns the question of how to implement a chosen
business strategy
Leadership Pyramid correct answers A conceptual framework of leadership progression with
five distinct, sequential levels.
1) highly capable individual: makes productive contributions through motivation, talent,
knowledge, and skills
2) contributing team members: uses high level of capability to work effectively with others in
order to achieve team objectives
3) competent manager: is efficient and effective in organizing resources to accomplish stated
goals and objectives. Does things right
4) effective leader: presents compelling vision and mission to guide groups toward superior
performance. Does the right things
5) executive: builds enduring greatness through a combination of willpower and humility
Top-down strategic planning correct answers A rational, data-driven strategy process through
which top management attempts to program future success.
Scenario planning correct answers Strategy-planning activity in which top management
envisions different what-if scenarios to anticipate plausible futures in order to derive strategic
responses.
Dominant planning correct answers top managers decide most closely matches the current
reality and which is then executed
strategic management correct answers integrative management field that combines analysis,
formulation, and implementation in the quest for competitive advantage
strategy correct answers the set of goal-directed actions a firm takes to gain and sustain
superior performance relative to competitors
good strategy correct answers enable a firm to achieve superior performance relative to its
competitors. Consisted of
1) a diagnosis of the competitive challenge.
2) a guiding policy to address the competitive challenge.
3) a set of coherent actions to implement a firm's guiding policy
competitive advantage correct answers superior performance relative to other competitors in
the same industry or the industry average
sustainable competitive advantage correct answers outperforming competitors or the industry
average over a prolonged period of time
competitive disadvantage correct answers under performance relative to other competitors in
the same industry or the industry average
competitive parity correct answers performance of two or more firms at the same level
vision correct answers a statement about what an organization ultimately wants to
accomplish; captures the company's aspirations
mission correct answers Description of what an organization actually does—the products and
services it plans to provide, and the markets in which it will compete.
core values statement correct answers statement of principles to guide an organization as it
works to achieve its vision and fulfill its mission, for both internal conduct and external
interactions; it often includes explicit ethical considerations
organizational core values correct answers ethical standards and norms that govern the
behavior of individuals within a firm or organization
Product-Oriented Vision Statements correct answers defines a business in terms of a good or
service provided
customer oriented vision statement correct answers defines a business in terms of providing
solutions to customer needs
AFI strategy framework correct answers A model that links three interdependent strategic
management tasks—analyze, formulate, and implement—that, together, help managers plan
and implement a strategy that can improve performance and result in competitive advantage.
1) explains and predicts differences in firm performance
2)helps managers formulate and implement a strategy that can result in superior performance
, Strategic Leadership correct answers executives' use of power and influence to direct the
activities of others when pursuing an organization's goals
upper-echelons theory correct answers A conceptual framework that views organizational
outcomes—strategic choices and performance levels—as reflections of the values of the
members of the top management team.
strategy formulation correct answers concerns the choice of strategy in terms of where and
how to compete
strategy implementation correct answers concerns the organization, coordination, and
integration of how work gets done
Corporate Strategy correct answers concerns questions relating to where to compete in terms
of industry, markets, and geography
Business Strategy correct answers concerns the question of how to compete. Three generic
business strategies are available: cost leadership, differentiation, or value innovation.
Funtional Strategy correct answers concerns the question of how to implement a chosen
business strategy
Leadership Pyramid correct answers A conceptual framework of leadership progression with
five distinct, sequential levels.
1) highly capable individual: makes productive contributions through motivation, talent,
knowledge, and skills
2) contributing team members: uses high level of capability to work effectively with others in
order to achieve team objectives
3) competent manager: is efficient and effective in organizing resources to accomplish stated
goals and objectives. Does things right
4) effective leader: presents compelling vision and mission to guide groups toward superior
performance. Does the right things
5) executive: builds enduring greatness through a combination of willpower and humility
Top-down strategic planning correct answers A rational, data-driven strategy process through
which top management attempts to program future success.
Scenario planning correct answers Strategy-planning activity in which top management
envisions different what-if scenarios to anticipate plausible futures in order to derive strategic
responses.
Dominant planning correct answers top managers decide most closely matches the current
reality and which is then executed
