SEVI 3013 EXAM QUESTIONS WITH
COMPLETE ANSWERS
environmental monitoring - Answer-tracks evolution of environmental trends, streams of
activities or trends from outside the organization
competitive intelligence - Answer-the process of gathering information about the
competitive environment, including competitors' plans, activities, and products, to
improve a company's ability to succeed
environmental forecasting - Answer--Predicts change and plausible projections about
-Direction of environmental change
-Scope of environmental change
-Speed of environmental change
-Intensity of environmental change
Scenario Analysis - Answer-an in-depth approach to environmental forecasting that
involves experts' detailed assessments of societal trends, economics, politics,
technology, or other dimensions of the external environment
6 areas of the general environment that should be analyzed in an external assessment?
- Answer-demographic
sociocultural
political/legal
technological
economic
global
Demographics examples - Answer-age, gender, race, birth rates, immigration
Realized Strategy - Answer-strategy in which organizational decisions are determined
by both analysis and unforeseen environmental developments, unanticipated resource
constraints, and/or changes in managerial preferences
Vision - Answer-evokes powerful and compelling mental images of a shared future
Mission - Answer-encompasses the organizations current purpose, bases of
competition, and competitive advantage
Strategic objectives - Answer-a set of organizational goals that are used to
operationalize the mission statement and that are specific and cover a well-defined time
frame
, Mission Statement - Answer-encompasses both the purpose of the company and the
basis of competition and competitive advantage
corporate level strategy - Answer-specifies actions a firm takes to gain a competitive
advantage by selecting and managing a group of different businesses competing in
different product markets
business level strategy - Answer-a plan that indicates how a division intends to compete
against its rivals in an industry
shareholder - Answer-A person who invests in a corporation by buying stock and is a
partial owner
Stakeholders - Answer-the people whose interests are affected by an organization's
activities
Key Players in Corporate Governance - Answer-Board of directors, CEO, senior
executives, and shareholders
board of directors - Answer-a group of persons elected by the stockholders to manage a
corporation
CEO - Answer-chief executive officer
senior executive - Answer-senior manager
knowledge-intensive - Answer-a company that needs a lot of expertise to make its
products
Strategic Leaders - Answer-people located in different areas and levels of the firm using
the strategic management process to select strategic actions that help the firm achieve
its vision and fulfill its mission
Social Responsibility - Answer-the obligation of a business to contribute to society
Triple Bottom Line - Answer-assesses the financial, social, and environmental
performance of a firm
Perceptual acuity - Answer-allows managers to sense what is coming.
importance of perceptual acuity - Answer-detecting early warning signals, keeping pace
with changes in the external environment can sustain a competitive advantage.
SWOT analysis - Answer-a planning tool used to analyze an organization's strengths,
weaknesses, opportunities, and threats
COMPLETE ANSWERS
environmental monitoring - Answer-tracks evolution of environmental trends, streams of
activities or trends from outside the organization
competitive intelligence - Answer-the process of gathering information about the
competitive environment, including competitors' plans, activities, and products, to
improve a company's ability to succeed
environmental forecasting - Answer--Predicts change and plausible projections about
-Direction of environmental change
-Scope of environmental change
-Speed of environmental change
-Intensity of environmental change
Scenario Analysis - Answer-an in-depth approach to environmental forecasting that
involves experts' detailed assessments of societal trends, economics, politics,
technology, or other dimensions of the external environment
6 areas of the general environment that should be analyzed in an external assessment?
- Answer-demographic
sociocultural
political/legal
technological
economic
global
Demographics examples - Answer-age, gender, race, birth rates, immigration
Realized Strategy - Answer-strategy in which organizational decisions are determined
by both analysis and unforeseen environmental developments, unanticipated resource
constraints, and/or changes in managerial preferences
Vision - Answer-evokes powerful and compelling mental images of a shared future
Mission - Answer-encompasses the organizations current purpose, bases of
competition, and competitive advantage
Strategic objectives - Answer-a set of organizational goals that are used to
operationalize the mission statement and that are specific and cover a well-defined time
frame
, Mission Statement - Answer-encompasses both the purpose of the company and the
basis of competition and competitive advantage
corporate level strategy - Answer-specifies actions a firm takes to gain a competitive
advantage by selecting and managing a group of different businesses competing in
different product markets
business level strategy - Answer-a plan that indicates how a division intends to compete
against its rivals in an industry
shareholder - Answer-A person who invests in a corporation by buying stock and is a
partial owner
Stakeholders - Answer-the people whose interests are affected by an organization's
activities
Key Players in Corporate Governance - Answer-Board of directors, CEO, senior
executives, and shareholders
board of directors - Answer-a group of persons elected by the stockholders to manage a
corporation
CEO - Answer-chief executive officer
senior executive - Answer-senior manager
knowledge-intensive - Answer-a company that needs a lot of expertise to make its
products
Strategic Leaders - Answer-people located in different areas and levels of the firm using
the strategic management process to select strategic actions that help the firm achieve
its vision and fulfill its mission
Social Responsibility - Answer-the obligation of a business to contribute to society
Triple Bottom Line - Answer-assesses the financial, social, and environmental
performance of a firm
Perceptual acuity - Answer-allows managers to sense what is coming.
importance of perceptual acuity - Answer-detecting early warning signals, keeping pace
with changes in the external environment can sustain a competitive advantage.
SWOT analysis - Answer-a planning tool used to analyze an organization's strengths,
weaknesses, opportunities, and threats
