BTMA 317 question n answers graded A+ 2023 already passed

BTMA 317Competitive strategy statement - correct answer Identifies a business' approach to compete, goals, and plans and policies to achieve goals. #1 purpose of strategy - correct answer Alignment Industry Analysis - correct answer Competitive forces, strategic alignment, types of strategies, strategic planning. Different industries offer different profit potential, what is the profit potential measured by? - correct answer Porters 5 forces Porter Value Chain - correct answer Defining value chain, capturing cost, control cost, cut buyers cost Defining value chain - correct answer Identify business products, determine key functions and include all relevant activities of each function Capturing cost - correct answer Estimate costs and assign them to various activities in you value chain... Then look at your competitors Control Cost - correct answer Find costs drivers and control them... 3 types of control cost - correct answer Linkage, scale, procurement Linkage - correct answer Control supplier scheduling, location of warehouse Cut buyers cost - correct answer Lower setup cost/time, decrease finance cost, increase quality, decrease process time