FACHE ACHE BOARD OF Governors
FINAL PAPER Questions and Answers
Verified Solutions Latest Update
Question:
Barriers to entry.
Answer:
Obstacles that impede an organization as it seeks to enter a market
Question:
Branding.
Answer:
A community-wide communication effort to convey the mission and the competitive
advantage of an organization
Question:
Breach of contract.
Answer:
A contracting party's failure or refusal to perform its obligations specified in a contract
Question:
Business model.
Answer:
The underlying structure of an organization; the means through which an organization
creates and delivers value to its customers and earns revenues
,Question:
Business plan.
Answer:
A model of a specific strategy or function that guides design, operations, and goal
setting
Question:
Certificate of need.
Answer:
Certificate or approval for new services and for construction or renovation of hospitals
or related facilities; issued in many states
Question:
Collective bargaining.
Answer:
An activity whereby union and management officials attempt to resolve conflicting
interests in a manner that will sustain and possibly enrich their continuing relationships
Question:
Contract.
Answer:
A voluntary, deliberate, and legally binding agreement between two or more
competent parties; usually written but sometimes spoken or implied
Question:
Core competencies.
Answer:
The internal activities and functions central to fulfilling an organization's mission;
strategically valuable, they are the essence of what makes the organization unique in
providing value to its customers
,Question:
Crisis communications plan.
Answer:
A process for disseminating information to all organizational stakeholders in the event
of an emergency
Question:
Defamation.
Answer:
The act of making untrue statements about another that damage the person's
reputation; written defamation is libel, and oral defamation is slander
Question:
Distruptive innovation.
Answer:
Innovation that creates a new market by discovering new categories of customers,
eventually displacing the existing market; occurs when new technologies are
harnessed or when new business models exploit old technologies
Question:
Economies of scale.
Answer:
Reductions in unit cost as a result of an increase in number of products or services
produced
Question:
First movers.
Answer:
Organizations that consistently search for innovation opportunities and attempt to gain
competitive advantages by being among the first to enter a new market or industry
, Question:
Five Forces model.
Answer:
A framework devised by Harvard economist Michael Porter for analyzing the degree of
competition in a market and the ability of established organizations to influence prices
Question:
Forecasting.
Answer:
Use of data from the past and present to analyze trends and predict the future; also
called scenario planning
Question:
Four basic types of market structure.
Answer:
Perfection competition, monopolistic competition, oligopoly, monopoly; each type
reflects the number of organizations in a market and their degree of market influence
Question:
Four Ps.
Answer:
Four attributes that have traditionally been used to establish an organization's market
position: product, price, promotion, and place
Question:
Gantt chart.
Answer:
A bar chart that lays out the schedules, steps, and time frames of a project or projects
FINAL PAPER Questions and Answers
Verified Solutions Latest Update
Question:
Barriers to entry.
Answer:
Obstacles that impede an organization as it seeks to enter a market
Question:
Branding.
Answer:
A community-wide communication effort to convey the mission and the competitive
advantage of an organization
Question:
Breach of contract.
Answer:
A contracting party's failure or refusal to perform its obligations specified in a contract
Question:
Business model.
Answer:
The underlying structure of an organization; the means through which an organization
creates and delivers value to its customers and earns revenues
,Question:
Business plan.
Answer:
A model of a specific strategy or function that guides design, operations, and goal
setting
Question:
Certificate of need.
Answer:
Certificate or approval for new services and for construction or renovation of hospitals
or related facilities; issued in many states
Question:
Collective bargaining.
Answer:
An activity whereby union and management officials attempt to resolve conflicting
interests in a manner that will sustain and possibly enrich their continuing relationships
Question:
Contract.
Answer:
A voluntary, deliberate, and legally binding agreement between two or more
competent parties; usually written but sometimes spoken or implied
Question:
Core competencies.
Answer:
The internal activities and functions central to fulfilling an organization's mission;
strategically valuable, they are the essence of what makes the organization unique in
providing value to its customers
,Question:
Crisis communications plan.
Answer:
A process for disseminating information to all organizational stakeholders in the event
of an emergency
Question:
Defamation.
Answer:
The act of making untrue statements about another that damage the person's
reputation; written defamation is libel, and oral defamation is slander
Question:
Distruptive innovation.
Answer:
Innovation that creates a new market by discovering new categories of customers,
eventually displacing the existing market; occurs when new technologies are
harnessed or when new business models exploit old technologies
Question:
Economies of scale.
Answer:
Reductions in unit cost as a result of an increase in number of products or services
produced
Question:
First movers.
Answer:
Organizations that consistently search for innovation opportunities and attempt to gain
competitive advantages by being among the first to enter a new market or industry
, Question:
Five Forces model.
Answer:
A framework devised by Harvard economist Michael Porter for analyzing the degree of
competition in a market and the ability of established organizations to influence prices
Question:
Forecasting.
Answer:
Use of data from the past and present to analyze trends and predict the future; also
called scenario planning
Question:
Four basic types of market structure.
Answer:
Perfection competition, monopolistic competition, oligopoly, monopoly; each type
reflects the number of organizations in a market and their degree of market influence
Question:
Four Ps.
Answer:
Four attributes that have traditionally been used to establish an organization's market
position: product, price, promotion, and place
Question:
Gantt chart.
Answer:
A bar chart that lays out the schedules, steps, and time frames of a project or projects
