WGU C802 TASK 1 FINAL PAPER EXAM
SCRIPT TESTED QUESTIONS AND
VERIFIED SOLUTIONS
◉ Corporate-Level Strategy
Answer: The overall strategic scope and direction of a
corporation. The primary function of corporate-level strategy is to
allocate capital funds to SBUs and decide which businesses to
enter or exit.
◉ Emergent-Strategy
Answer: a pattern of actions that develop over time and become
an organization's strategy de facto. This type of strategy is
identified by examining decisions that were made and the
patterns that occurred as a result. Also called realized strategy.
◉ Functional-Level Strategy
Answer: Strategic scope and direction at the operating division,
department, or project level. This type of strategy is driven by
product or service line.
◉ Prospective Strategy
,Answer: A planning function that forecasts an organization's
future situation and designs means to guide an organization's
future decisions.
◉ Four-Firm Concentration Ratio
Answer: A measure of market concentration calculated by
summing the market shares of the four largest firms in a market.
◉ Herfindahl-Hirschman Index (HHI)
Answer: A measure of market concentration calculated by
squaring the market share percentage of each organization in a
market and then summing the numbers.
◉ Industry
Answer: A particular category of business or economic activity; an
aggregation of sellers whose products are close substitutes.
◉ Market Structure
Answer: The organizational characteristics of a market that exert
a strategic influence on the intensity and form of competition.
◉ Markets
Answer: Places, systems, and processes through which buyers and
sellers exchange goods and services.
,◉ Medical Terminology
Answer: The procedures, equipment, and processes used to
deliver medical care.
◉ Monopolistic Competition
Answer: One of the four basic types of market structures.
Monopolistic competition exists in markets composed of many
organizations offering differentiated products.
◉ Monopoly
Answer: One of the four basic types of market structures.
Monopolies exist in markets that are dominated by a single
organization.
◉ Oligopoly
Answer: One of the four basic types of market structures.
Oligopolies exist in markets dominated by a few large
organizations that offer similar or identical products.
◉ Patient-Origin Study
Answer: Data that describe the proportion and number of an
organization's customers (patients) who come from different
geographic locations. This data can be arrayed and graphed to
display the provider's primary and secondary service areas.
◉ Perfect Competition
, Answer: One of the four basic types of market structures. Perfect
competition exits in markets composed of many small
organizations that produce an undifferentiated, homogeneous
product.
◉ Societal Environment
Answer: The public and socioeconomic factors surrounding and
influencing an organization, such as general economic conditions,
population demographics, cultural values, governmental
regulations, and technology.
◉ Broad Differentiation Strategy
Answer: A type of strategy aimed at offering products that
consumers perceive to be distinct from competitors' products and
that appeal to a wide segment of a market.
◉ Broad Low-Cost Strategy
Answer: A type of strategy aimed at providing low-cost products
to a broad customer segment.
◉ 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.
◉ Customer Value
SCRIPT TESTED QUESTIONS AND
VERIFIED SOLUTIONS
◉ Corporate-Level Strategy
Answer: The overall strategic scope and direction of a
corporation. The primary function of corporate-level strategy is to
allocate capital funds to SBUs and decide which businesses to
enter or exit.
◉ Emergent-Strategy
Answer: a pattern of actions that develop over time and become
an organization's strategy de facto. This type of strategy is
identified by examining decisions that were made and the
patterns that occurred as a result. Also called realized strategy.
◉ Functional-Level Strategy
Answer: Strategic scope and direction at the operating division,
department, or project level. This type of strategy is driven by
product or service line.
◉ Prospective Strategy
,Answer: A planning function that forecasts an organization's
future situation and designs means to guide an organization's
future decisions.
◉ Four-Firm Concentration Ratio
Answer: A measure of market concentration calculated by
summing the market shares of the four largest firms in a market.
◉ Herfindahl-Hirschman Index (HHI)
Answer: A measure of market concentration calculated by
squaring the market share percentage of each organization in a
market and then summing the numbers.
◉ Industry
Answer: A particular category of business or economic activity; an
aggregation of sellers whose products are close substitutes.
◉ Market Structure
Answer: The organizational characteristics of a market that exert
a strategic influence on the intensity and form of competition.
◉ Markets
Answer: Places, systems, and processes through which buyers and
sellers exchange goods and services.
,◉ Medical Terminology
Answer: The procedures, equipment, and processes used to
deliver medical care.
◉ Monopolistic Competition
Answer: One of the four basic types of market structures.
Monopolistic competition exists in markets composed of many
organizations offering differentiated products.
◉ Monopoly
Answer: One of the four basic types of market structures.
Monopolies exist in markets that are dominated by a single
organization.
◉ Oligopoly
Answer: One of the four basic types of market structures.
Oligopolies exist in markets dominated by a few large
organizations that offer similar or identical products.
◉ Patient-Origin Study
Answer: Data that describe the proportion and number of an
organization's customers (patients) who come from different
geographic locations. This data can be arrayed and graphed to
display the provider's primary and secondary service areas.
◉ Perfect Competition
, Answer: One of the four basic types of market structures. Perfect
competition exits in markets composed of many small
organizations that produce an undifferentiated, homogeneous
product.
◉ Societal Environment
Answer: The public and socioeconomic factors surrounding and
influencing an organization, such as general economic conditions,
population demographics, cultural values, governmental
regulations, and technology.
◉ Broad Differentiation Strategy
Answer: A type of strategy aimed at offering products that
consumers perceive to be distinct from competitors' products and
that appeal to a wide segment of a market.
◉ Broad Low-Cost Strategy
Answer: A type of strategy aimed at providing low-cost products
to a broad customer segment.
◉ 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.
◉ Customer Value
