WPC 480 FINAL UPDATED ACTUAL EXAM
QUESTIONS AND CORRECT ANSWERS
●● average returns
Answer: are returns equal to those an investor expect to earn from other
investments possessing a similar amount of risk
●● capability
Answer: capacity for a set of resources to perform a task or an activity in
an integrative manner
●● competitive advantage
Answer: Implementing a chosen strategy, it creates superior values for
customers, and when competitors are not able to imitate the value, the
firms product creates or find it too expensive to attempt imitation
●● core competencies
Answer: Capabilities that serve as a source of competitive advantage for
a firm over its rivals
●● global economy
Answer: One in which goods services, people, skills, and ideas move
freely across geographic borders
,●● hyper competition
Answer: Condition were competitors engage in intense rivalry, markets
change quickly, and often and entry barriers are low
●● mission
Answer: Specifies the businesses in which the firm intends to compete
and the customers it intends to serve
●● organizational culture
Answer: Refers to the complex set of ideologies symbols and core value
that individuals throughout the firm share and that influence how the
firm conducts business
●● resources
Answer: inputs into a firm's production process, such as capital
equipment, the skills of individual employees, patents, finances, and
talented managers
●● risk
Answer: Investors uncertainty about the economic gains or losses that
will result from a particular investment
●● stakeholders
, Answer: Our individual groups and organizations that can affect the
firms vision and mission are affected by the strategic outcomes achieved
and have enforceable claims on the firms performance
●● strategic competitiveness
Answer: Formulating and implementing a value creating strategy
●● strategic flexibility
Answer: Set of capabilities firms used to respond to various demands
and opportunities existing in today's dynamic and uncertain competitive
environment
●● strategic leaders
Answer: People located in different areas and levels of the firm using the
strategic management process to select actions that helped the firm
achieve its vision and fulfill its mission
●● strategic management process
Answer: The full set of commitment's decisions and actions firms take to
achieve strategic competitiveness and earn above average returns
●● strategy
Answer: Integrated and coordinated set of commitments and actions
designed to exploit core competencies and gain a competitive advantage
QUESTIONS AND CORRECT ANSWERS
●● average returns
Answer: are returns equal to those an investor expect to earn from other
investments possessing a similar amount of risk
●● capability
Answer: capacity for a set of resources to perform a task or an activity in
an integrative manner
●● competitive advantage
Answer: Implementing a chosen strategy, it creates superior values for
customers, and when competitors are not able to imitate the value, the
firms product creates or find it too expensive to attempt imitation
●● core competencies
Answer: Capabilities that serve as a source of competitive advantage for
a firm over its rivals
●● global economy
Answer: One in which goods services, people, skills, and ideas move
freely across geographic borders
,●● hyper competition
Answer: Condition were competitors engage in intense rivalry, markets
change quickly, and often and entry barriers are low
●● mission
Answer: Specifies the businesses in which the firm intends to compete
and the customers it intends to serve
●● organizational culture
Answer: Refers to the complex set of ideologies symbols and core value
that individuals throughout the firm share and that influence how the
firm conducts business
●● resources
Answer: inputs into a firm's production process, such as capital
equipment, the skills of individual employees, patents, finances, and
talented managers
●● risk
Answer: Investors uncertainty about the economic gains or losses that
will result from a particular investment
●● stakeholders
, Answer: Our individual groups and organizations that can affect the
firms vision and mission are affected by the strategic outcomes achieved
and have enforceable claims on the firms performance
●● strategic competitiveness
Answer: Formulating and implementing a value creating strategy
●● strategic flexibility
Answer: Set of capabilities firms used to respond to various demands
and opportunities existing in today's dynamic and uncertain competitive
environment
●● strategic leaders
Answer: People located in different areas and levels of the firm using the
strategic management process to select actions that helped the firm
achieve its vision and fulfill its mission
●● strategic management process
Answer: The full set of commitment's decisions and actions firms take to
achieve strategic competitiveness and earn above average returns
●● strategy
Answer: Integrated and coordinated set of commitments and actions
designed to exploit core competencies and gain a competitive advantage
