BUAD 453 exam with correct answers 2024

Strategic Management correct answers Examines how actions and events involving top executives, firms, and industries influence a firms' success or failure. Plan correct answers carefully crafted set of steps that a firm intends to follow to be successful Scenario Analysis correct answers idea that plans are wrong because the forecasts are usually off. Ploy correct answers a specific move designed to outwit or trick competitors Pattern correct answers the degree of consistency in a firms strategic actions. Position correct answers a firm's place in the industry relative to its competitors. Perspective correct answers how execs interpret the competitive landscape around them. Intended Strategy correct answers strategy that an organization hopes to execute Emergent Strategy correct answers Unplanned strategy that arises in response to unexpected opportunities and challenges Realized strategy correct answers strategy that an organization actually follows. Product of both intended and realized strategies. Deliberate strategy correct answers the parts of the intended strategy that an organization continues to pursue over time. Non-realized strategy correct answers parts of the intended strategy that are abandoned. Strategic Management Process correct answers Building a careful understanding of how the world is changing and the knowledge of how those changes might affect a particular firm. Vision correct answers What the organization aspires to become in the future. Mission correct answers states the reasons for an organizations existence. answers "who are we?" Captures key elements of an organization's past and present.