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BUAD 453 final exam with accurate detailed answers
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Strategy - ✔✔a set of related actions that managers take to increase their company's
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performance
Strategic leadership - ✔✔creating competitive advantage through effective management of
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the strategy-making process.
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Strategy formulation - ✔✔Selecting strategies based on analysis of an organization's
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external and internal environment
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Strategy implementation - ✔✔Putting strategies into action
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Shareholder Value - ✔✔Returns that shareholders earn from purchasing shares in a
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company
Profitability - ✔✔The return a company makes on the capital invested in the enterprise
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Profit growth - ✔✔The increase in net profit over time
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Competitive advantage - ✔✔The achieved advantage over rivals when a company's
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profitability is greater than the average profitability of firms in its industry
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Sustained competitive advantage - ✔✔The company's strategies enable it to maintain
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above-average profitability for a number of years || || || || || ||
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Business model - ✔✔The conception of how strategies should work together as a whole to
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enable the company to achieve competitive advantage
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General Managers - ✔✔Managers who bear responsibility for overall performance of the
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company or for one of its major, self-contained subunits or divisions
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Functional Managers - ✔✔managers responsible for supervising a particular function; that
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is a task, an activity, or an operation such as accounting, marketing, R&D, information
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technology, or logistics || ||
Multidivisional company - ✔✔A company that competes in several different businesses and || || || || || || || || || || ||
has created a separate, self-contained division to manage each.
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Business unit - ✔✔A self-contained division that provides a product or service for a
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particular market ||
Mission - ✔✔The purpose of the company, or a statement of what the company strives to
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do.
Vision - ✔✔The articulation of a company's desired achievements of future state.
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Values - ✔✔A statement of how employees should conduct themselves and their business
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to help achieve the company mission
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SWOT Analysis - ✔✔The comparison of strengths, weaknesses, opportunities, and threats
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Scenario planning - ✔✔Formulating plans that are based upon "what-if" scenarios about
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the future ||
BUAD 453 final exam with accurate detailed answers
|| || || || || || ||
Strategy - ✔✔a set of related actions that managers take to increase their company's
|| || || || || || || || || || || || || ||
performance
Strategic leadership - ✔✔creating competitive advantage through effective management of
|| || || || || || || || || ||
the strategy-making process.
|| ||
Strategy formulation - ✔✔Selecting strategies based on analysis of an organization's
|| || || || || || || || || || ||
external and internal environment
|| || ||
Strategy implementation - ✔✔Putting strategies into action
|| || || || || ||
Shareholder Value - ✔✔Returns that shareholders earn from purchasing shares in a
|| || || || || || || || || || || ||
company
Profitability - ✔✔The return a company makes on the capital invested in the enterprise
|| || || || || || || || || || || || ||
Profit growth - ✔✔The increase in net profit over time
|| || || || || || || || ||
Competitive advantage - ✔✔The achieved advantage over rivals when a company's
|| || || || || || || || || || ||
profitability is greater than the average profitability of firms in its industry
|| || || || || || || || || || ||
Sustained competitive advantage - ✔✔The company's strategies enable it to maintain
|| || || || || || || || || || ||
above-average profitability for a number of years || || || || || ||
, 2
Business model - ✔✔The conception of how strategies should work together as a whole to
|| || || || || || || || || || || || || || ||
enable the company to achieve competitive advantage
|| || || || || ||
General Managers - ✔✔Managers who bear responsibility for overall performance of the
|| || || || || || || || || || || ||
company or for one of its major, self-contained subunits or divisions
|| || || || || || || || || ||
Functional Managers - ✔✔managers responsible for supervising a particular function; that
|| || || || || || || || || || ||
is a task, an activity, or an operation such as accounting, marketing, R&D, information
|| || || || || || || || || || || || || ||
technology, or logistics || ||
Multidivisional company - ✔✔A company that competes in several different businesses and || || || || || || || || || || ||
has created a separate, self-contained division to manage each.
|| || || || || || || || ||
Business unit - ✔✔A self-contained division that provides a product or service for a
|| || || || || || || || || || || || || ||
particular market ||
Mission - ✔✔The purpose of the company, or a statement of what the company strives to
|| || || || || || || || || || || || || || || ||
do.
Vision - ✔✔The articulation of a company's desired achievements of future state.
|| || || || || || || || || || ||
Values - ✔✔A statement of how employees should conduct themselves and their business
|| || || || || || || || || || || || ||
to help achieve the company mission
|| || || || ||
SWOT Analysis - ✔✔The comparison of strengths, weaknesses, opportunities, and threats
|| || || || || || || || || ||
Scenario planning - ✔✔Formulating plans that are based upon "what-if" scenarios about
|| || || || || || || || || || || ||
the future ||
