WPC 480 Midterm Exam2
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ LATEST 100%
GUARANTEED PASS
stakeholders - CORRECT ANSWER-- the individuals, groups and organizations that can affect the
firm's vision and mission
- affected by the strategic outcomes achieved
- have enforceable claims on the firm's performance
strategic leaders - CORRECT ANSWER-people located in different areas and levels of the firm
using the strategic management process to select strategic actions that help the firm achieve its
vision and fulfill its mission
organizational culture - CORRECT ANSWER-the complex set of ideologies, symbols and core
values that are shared throughout the firm and that influence how the firm conducts business
i/o model of above-average returns - CORRECT ANSWER-1. study the external environment,
especially the industry environment
2. locate an industry with high potential for above-average returns
3. identify the strategy called for by the attractive industry to earn above-average returns
4. develop or acquire skills and assets needed to implement the strategy.
, 5. use the firm's strengths to implement the strategy
the external environment - CORRECT ANSWER-- general environment
- industry environment
- competitor environment
attractive industry - CORRECT ANSWER-an industry whose structural characteristics suggest
above-average returns
strategy formulation - CORRECT ANSWER-selection of a strategy linked with above-average
returns in a particular industry
strategy implementation - CORRECT ANSWER-selection of strategic actions linked with effective
implementation of the chosen strategy
superior return - CORRECT ANSWER-earning of above-average returns
firm's strengths - CORRECT ANSWER-its developed or acquired assets and skills
resource-based model of above-average returns - CORRECT ANSWER-1. identify the firm's
resources. study its strengths and weaknesses compared with those of competitors
2. determine the firm's capabilities. what do the capabilities allow the firm to do better than its
competitors?
3. determine the potential of the firm's resources and capabilities in terms of a competitive
advantage
4. locate an attractive industry
5. select a strategy that best allows the firm to utilize its resources and capabilities relative to
opportunities in the external environment
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ LATEST 100%
GUARANTEED PASS
stakeholders - CORRECT ANSWER-- the individuals, groups and organizations that can affect the
firm's vision and mission
- affected by the strategic outcomes achieved
- have enforceable claims on the firm's performance
strategic leaders - CORRECT ANSWER-people located in different areas and levels of the firm
using the strategic management process to select strategic actions that help the firm achieve its
vision and fulfill its mission
organizational culture - CORRECT ANSWER-the complex set of ideologies, symbols and core
values that are shared throughout the firm and that influence how the firm conducts business
i/o model of above-average returns - CORRECT ANSWER-1. study the external environment,
especially the industry environment
2. locate an industry with high potential for above-average returns
3. identify the strategy called for by the attractive industry to earn above-average returns
4. develop or acquire skills and assets needed to implement the strategy.
, 5. use the firm's strengths to implement the strategy
the external environment - CORRECT ANSWER-- general environment
- industry environment
- competitor environment
attractive industry - CORRECT ANSWER-an industry whose structural characteristics suggest
above-average returns
strategy formulation - CORRECT ANSWER-selection of a strategy linked with above-average
returns in a particular industry
strategy implementation - CORRECT ANSWER-selection of strategic actions linked with effective
implementation of the chosen strategy
superior return - CORRECT ANSWER-earning of above-average returns
firm's strengths - CORRECT ANSWER-its developed or acquired assets and skills
resource-based model of above-average returns - CORRECT ANSWER-1. identify the firm's
resources. study its strengths and weaknesses compared with those of competitors
2. determine the firm's capabilities. what do the capabilities allow the firm to do better than its
competitors?
3. determine the potential of the firm's resources and capabilities in terms of a competitive
advantage
4. locate an attractive industry
5. select a strategy that best allows the firm to utilize its resources and capabilities relative to
opportunities in the external environment
