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MGT 497 Questions with Detailed Verified Answers (100% Correct Answers) /Already Graded A+
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MGT 497 Questions with Detailed Verified Answers (100% Correct Answers) /Already Graded A+MGT 497 Questions with Detailed Verified Answers (100% Correct Answers) /Already Graded A+MGT 497 Questions with Detailed Verified Answers (100% Correct Answers) /Already Graded A+MGT 497 Questions with ...

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  • April 15, 2025
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt 497 questions with detailed verified answers

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  • MGT 497
  • MGT 497

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MGT 497 Questions with Detailed Verified Answers
(100% Correct Answers) /Already Graded A+
Capabilities
Ans: result when the firm integrates several different resources in a way
that allows its to effectively and efficiently complete a task or a series of
related tasks


Competitive Advantage
Ans: exists when a firm's core competencies or its distinctive competencies
allow it to create value or customers exceeding the value competitors create
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for them
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Core Competencies
Ans: Capabilities the firm emphasizes and performs especially well while
pursuing its vision


Distinctive Competencies
Ans: Core Competencies that differ from those held by competitors


External Environment
Ans: A set of conditions outside the firm that affect the firm's performance


Internal Organization
Ans: the set of conditions (such as strengths, resources, capabilities, and so
forth) inside the firm that affect the choice and use of strategies


Mission

, 2 promax - Stuvia US 2025/2026

Ans: defines the firm's core intent and the business or businesses in which it
intends to compete


Opportunities
Ans: Conditions in the firm's external environment that may help the firm
reach its visions


Organizational culture
Ans: the set of values and beliefs that are shared throughout the firm


Resources
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Ans: the tangible and intangible assets held by the firm
Approved By:




Stakeholders
Ans: Individuals and groups who have an interest in a firm's performance
and the ability to influence its actions


Strategic Leaders
Ans: the individuals practicing strategic leadership


Strategic Management
Ans: The ongoing process companies use to form a vision, analyze their
external environment and their internal organization, and select one or
more strategies to use to create value for customers and other stakeholders,
especially shareholders


Strategy

, 3 promax - Stuvia US 2025/2026

Ans: an action plan designed to move an organization toward achievement
of its vision


Strategy Implementation
Ans: The set of actions firms take to use a strategy after it has been selected


Strengths
Ans: Resources and capabilities that allow the firm to complete important
tasks


Threats
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Ans: Conditions in the firm's external environment that may prevent the
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firm from reaching its vision


Vision
Ans: Contains at least 2 components a mission that describes the firm's
DNA and the "picture" of the firm as it hopes to exist in a future time period




Ans: Examines conditions in the firm's external environment to assess how
they influence the firm, determines an attractive industry or segment of an
industry, choose the strategy called for by the influences of the firm's
external environment, and then using the firm's resources to implement the
chosen strategy. Deals with opportunities and threats


Resource-Based View

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