Business Strategy Exam 1 Questions And Correct Updated Answers 2024.
strategy Answer - action plan for outperforming its competitors and achieving superior profitability competitive advantage Answer - provides buyers with superior value compared to rival sellers or offers the same value at a lower cost to the firm sustainable Answer - advantage exists despite the best efforts of competitors to match or surpass this advantage. deliberate strategy Answer - consists of proactive strategy elements that are both planned and realized as planned emergent strategy Answer - consists of reactive strategy elements that emerge as changing conditions warrant. business model Answer - sets forth the logic for how its strategy will create value for customers, while at the same time generate revenues sufficient to cover costs and realize a profit. 1. the fit test 2. the competitive advantage test 3. the performance test Answer - a winning strategy must pass what three tests? the fit test Answer - how well does the strategy fit the company's situation? the competitive advantage test Answer - can the strategy help the company achieve a sustainable competitive advantage?
Document information
- Uploaded on
- February 20, 2024
- Number of pages
- 5
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers
