MGT 202 EXAM 2 COMPLETE STUDY
GUIDE WITH PRACTICE QUESTIONS,
ANSWERS AND COMPREHENSIVE
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Updated 2026 Questions and Answers | 100% Verified
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, Strategy A comprehensive action plan that identifies the long term direction for an organization
and that guides resource utilization to achieve sustainable competitive advantage
Strategic Intent All energies directed toward accomplishing a long term target/goal
3 Levels of strategy Corporate, Business, and Functional
Strategic Management the process of formulating and implementing strategies to accomplish long-term goals
and sustain competitive advantage
Strategic Analysis To assess the organization, its environment, its competitive positioning, & its competitive
strategies
strategy formulation Developing a new or revised strategy
strategy implementation Using resources to put strategies into action, and then evaluating results so then the
implementation can be improved or the strategy changed
Mission An organization describes its reason for existence in society
Stakeholders Including customers, shareholders, employees, suppliers, creditors, community groups,
future generations, and others - who are directly affected by the organization & its
accomplishments
Core values are broad beliefs about what is or is not appropriate behavior
Organizational culture the predominant value system for the organization as a whole
Operating objectives Direct activities toward key performance areas
What are operating objectives? Profitability, sustainability, social responsibility, financial health, cost efficiency, customer
service, product quality, market share, human talent, and innovation
SWOT strengths, weaknesses, opportunities, threats
SWOT Analysis Useful first step in analyzing the organization & its environment
GUIDE WITH PRACTICE QUESTIONS,
ANSWERS AND COMPREHENSIVE
MANAGEMENT TEST REVIEW
Updated 2026 Questions and Answers | 100% Verified
Exam Prep
, Strategy A comprehensive action plan that identifies the long term direction for an organization
and that guides resource utilization to achieve sustainable competitive advantage
Strategic Intent All energies directed toward accomplishing a long term target/goal
3 Levels of strategy Corporate, Business, and Functional
Strategic Management the process of formulating and implementing strategies to accomplish long-term goals
and sustain competitive advantage
Strategic Analysis To assess the organization, its environment, its competitive positioning, & its competitive
strategies
strategy formulation Developing a new or revised strategy
strategy implementation Using resources to put strategies into action, and then evaluating results so then the
implementation can be improved or the strategy changed
Mission An organization describes its reason for existence in society
Stakeholders Including customers, shareholders, employees, suppliers, creditors, community groups,
future generations, and others - who are directly affected by the organization & its
accomplishments
Core values are broad beliefs about what is or is not appropriate behavior
Organizational culture the predominant value system for the organization as a whole
Operating objectives Direct activities toward key performance areas
What are operating objectives? Profitability, sustainability, social responsibility, financial health, cost efficiency, customer
service, product quality, market share, human talent, and innovation
SWOT strengths, weaknesses, opportunities, threats
SWOT Analysis Useful first step in analyzing the organization & its environment
