ADMN 232 FINAL REVIEW QUESTIONS AND ANSWERS
RATED 100% CORRECT!!
competitive advantage Answer - using resources to provide greater value for
customers than competitors can
sustainable competitive advantage Answer - competitive advantage that other
companies have tried unsuccessfully to duplicate and have, for the moment,
stopped trying to duplicate
situational analysis (SWOT analysis) Answer - an assessment of the strengths
and weaknesses in an organization's internal environment and the
opportunities and threats in its external environment
portfolio strategy Answer - a corporate-level strategy that minimizes risk by
diversifying investment among various businesses or product lines
unrelated diversification Answer - creating or acquiring companies in
completely unrelated businesses
BCG Matrix Answer - a portfolio strategy developed by the Boston Consulting
Group that categorizes a corporation's businesses by growth rate and relative
market share and helps managers decide how to invest corporate funds
star Answer - a company that has a large share of fast-growing market
, question mark Answer - a company that has a small share of a fast-growing
market
cash cow Answer - a company that has a large share of a slow-growing market
dog Answer - a company that has a small share of a slow-growing market
grand strategy Answer - a broad corporate-level strategic plan used to achieve
strategic goals and guide the strategic alternatives that managers of individual
businesses or sub-units may use in deciding what businesses they should be in
growth strategy Answer - increase profits, revenues, market share, or the
number of place (stores, offices, locations) in which the company does business
five industry forces Answer - 1. competitive rivalry
2. threat of new entrants
3. threat of substitute products or services
4. bargaining power of suppliers
5. bargaining power of buyers
design competition Answer - old technology and several different new
technologies compete to establish a new technological standard or dominant
design
organizational structure Answer - the vertical and horizontal configuration of
departments, authority and jobs within a company
organizational process Answer - the collection of activities that transform
inputs into outputs that customers value
RATED 100% CORRECT!!
competitive advantage Answer - using resources to provide greater value for
customers than competitors can
sustainable competitive advantage Answer - competitive advantage that other
companies have tried unsuccessfully to duplicate and have, for the moment,
stopped trying to duplicate
situational analysis (SWOT analysis) Answer - an assessment of the strengths
and weaknesses in an organization's internal environment and the
opportunities and threats in its external environment
portfolio strategy Answer - a corporate-level strategy that minimizes risk by
diversifying investment among various businesses or product lines
unrelated diversification Answer - creating or acquiring companies in
completely unrelated businesses
BCG Matrix Answer - a portfolio strategy developed by the Boston Consulting
Group that categorizes a corporation's businesses by growth rate and relative
market share and helps managers decide how to invest corporate funds
star Answer - a company that has a large share of fast-growing market
, question mark Answer - a company that has a small share of a fast-growing
market
cash cow Answer - a company that has a large share of a slow-growing market
dog Answer - a company that has a small share of a slow-growing market
grand strategy Answer - a broad corporate-level strategic plan used to achieve
strategic goals and guide the strategic alternatives that managers of individual
businesses or sub-units may use in deciding what businesses they should be in
growth strategy Answer - increase profits, revenues, market share, or the
number of place (stores, offices, locations) in which the company does business
five industry forces Answer - 1. competitive rivalry
2. threat of new entrants
3. threat of substitute products or services
4. bargaining power of suppliers
5. bargaining power of buyers
design competition Answer - old technology and several different new
technologies compete to establish a new technological standard or dominant
design
organizational structure Answer - the vertical and horizontal configuration of
departments, authority and jobs within a company
organizational process Answer - the collection of activities that transform
inputs into outputs that customers value
