Exam-2, MGMT-3013 UARK
QUESTIONS AND ANSWERS 100%
PASS
Business-Level Strategy - ✔✔goal-directed actions when competing in a single product
market.
Strategic Trade-Offs - ✔✔cost or value position; higher value creation tends to generate
higher cost.
Differentiation Strategy - ✔✔seeks to create higher value for customers than the value
that competitors create.
Cost-Leadership Strategy - ✔✔seeks to create the same or similar value for customers at
a lower cost.
Scope of Competition - ✔✔The size of market firm chooses to compete.
Focused Cost-Leadership Strategy - ✔✔cost-leadership strategy with narrow focus on a
niche market.
Brittie Donald, All Rights Reserved © 2025 1
, Focused Differentiation Strategy - ✔✔differentiation strategy with narrow focus on a
niche market.
Economies of Scope - ✔✔Savings from producing two (or more) outputs at less cost
than producing each output individually, using same resources and technology.
Economies of Scale - ✔✔Decreases in cost per unit as output increases.
Minimum Efficient Scale (MES) - ✔✔Output range needed to lower cost per unit stake
out the lowest-cost position through economies of scale.
Diseconomies of Scale - ✔✔Increases in cost per unit when output increases.
Blue Ocean Strategy - ✔✔successfully combines differentiation and cost-leadership
activities
Value Innovation - ✔✔value for both the firm and the consumers; cornerstone of blue
ocean strategy.
Value Curve - ✔✔Horizontal connection of value points helping determine courses of
action.
Strategy Canvas - ✔✔Graphical depiction of a company's performance vs competition
Corporate Strategy - ✔✔senior management decisions and goal directed actions taken
to gain and sustain competitive advantage in several industries and markets
simultaneously.
Brittie Donald, All Rights Reserved © 2025 2
QUESTIONS AND ANSWERS 100%
PASS
Business-Level Strategy - ✔✔goal-directed actions when competing in a single product
market.
Strategic Trade-Offs - ✔✔cost or value position; higher value creation tends to generate
higher cost.
Differentiation Strategy - ✔✔seeks to create higher value for customers than the value
that competitors create.
Cost-Leadership Strategy - ✔✔seeks to create the same or similar value for customers at
a lower cost.
Scope of Competition - ✔✔The size of market firm chooses to compete.
Focused Cost-Leadership Strategy - ✔✔cost-leadership strategy with narrow focus on a
niche market.
Brittie Donald, All Rights Reserved © 2025 1
, Focused Differentiation Strategy - ✔✔differentiation strategy with narrow focus on a
niche market.
Economies of Scope - ✔✔Savings from producing two (or more) outputs at less cost
than producing each output individually, using same resources and technology.
Economies of Scale - ✔✔Decreases in cost per unit as output increases.
Minimum Efficient Scale (MES) - ✔✔Output range needed to lower cost per unit stake
out the lowest-cost position through economies of scale.
Diseconomies of Scale - ✔✔Increases in cost per unit when output increases.
Blue Ocean Strategy - ✔✔successfully combines differentiation and cost-leadership
activities
Value Innovation - ✔✔value for both the firm and the consumers; cornerstone of blue
ocean strategy.
Value Curve - ✔✔Horizontal connection of value points helping determine courses of
action.
Strategy Canvas - ✔✔Graphical depiction of a company's performance vs competition
Corporate Strategy - ✔✔senior management decisions and goal directed actions taken
to gain and sustain competitive advantage in several industries and markets
simultaneously.
Brittie Donald, All Rights Reserved © 2025 2
