AGEC 440 ANSWERS AND QUESTIONS SET A+
✔✔Key areas of importance for agribusiness management: - ✔✔managing innovation
and change, managing risk, organizational design, information systems management,
strategic management
✔✔Examples of successful strategies: - ✔✔Microsoft: absence of OS in growing PC
market, leverage in office applications (word, excel) and OS (Windows)
WalMart: Location choice, cost efficient distribution networks, organizational culture of
low cost. Now entering food distribution.
✔✔Strategy - ✔✔as a firms theory (postulate) about how to compete successfully.
or
a pattern of resource allocation that enables firms to maintain or improve their
performance.
✔✔Good Strategy - ✔✔neutralizes threats and exploits opportunities while capitalizing
on strengths and avoiding or fixing weaknesses.
✔✔A ____________ ________________ _________ helps to marshal and allocate an
organization's resources into a unique and viable posture based on its relative internal
competencies and shortcomings, anticipated changes in environment and moves by
intelligent opponents. - ✔✔Well formulated strategy
✔✔Postulate - ✔✔Process of re-evaluation of firm courses of action: limited information
on markets and competitive responses.
✔✔Competitive advantage - ✔✔actions/resources creating economic value relative to
competing firms.
✔✔Firm strategy is embodied in its ____________ ___________. - ✔✔Mission
statement
✔✔Mission - ✔✔is a firms fundamental purpose and long term objectives.
What a company desires to be
✔✔Key areas of importance for agribusiness management: - ✔✔managing innovation
and change, managing risk, organizational design, information systems management,
strategic management
✔✔Examples of successful strategies: - ✔✔Microsoft: absence of OS in growing PC
market, leverage in office applications (word, excel) and OS (Windows)
WalMart: Location choice, cost efficient distribution networks, organizational culture of
low cost. Now entering food distribution.
✔✔Strategy - ✔✔as a firms theory (postulate) about how to compete successfully.
or
a pattern of resource allocation that enables firms to maintain or improve their
performance.
✔✔Good Strategy - ✔✔neutralizes threats and exploits opportunities while capitalizing
on strengths and avoiding or fixing weaknesses.
✔✔A ____________ ________________ _________ helps to marshal and allocate an
organization's resources into a unique and viable posture based on its relative internal
competencies and shortcomings, anticipated changes in environment and moves by
intelligent opponents. - ✔✔Well formulated strategy
✔✔Postulate - ✔✔Process of re-evaluation of firm courses of action: limited information
on markets and competitive responses.
✔✔Competitive advantage - ✔✔actions/resources creating economic value relative to
competing firms.
✔✔Firm strategy is embodied in its ____________ ___________. - ✔✔Mission
statement
✔✔Mission - ✔✔is a firms fundamental purpose and long term objectives.
What a company desires to be
