MGT 499 EXAM 1 COMPREHENSIVE EXAM QUESTIONS
WITH DETAILED VERIFIED AND 100% ACCURATE
ANSWERS BRAND NEW EXAM ALREADY GRADED (A+
PASS)
strategy Ans✓✓✓ set of related actions that managers take to increase
their company's performance
strategic leadership Ans✓✓✓ the task of most effectively managing a
company's strategy making process
strategy development Ans✓✓✓ task of determining and selecting
strategies
strategy implementation Ans✓✓✓ task of putting strategies into action
to improve a company's efficiency and effectiveness
competitive advantage Ans✓✓✓ when a company's profitability is
greater than average of other companies in the same industry competing
for the same customers - this can be replicated (short term)
sustainable competitive advantage Ans✓✓✓ when company's strategies
enable it to maintain above average profitability for a number of years -
hard to replicate
, business model Ans✓✓✓ managements idea of how strategy will allow
the company to a gain competitive advantage and achieve superior
profitability
core competencies Ans✓✓✓ competitive advantage that lasts forever
and can be applied across several business areas
mission statement Ans✓✓✓ provides a framework within which
strategies are formulated
mission Ans✓✓✓ the reason for existence today - what an organization
does
customer groups Ans✓✓✓ the WHO in who is being satisfied as part of
the mission
customer needs Ans✓✓✓ the WHAT in what is being satisfied as part of
the mission
strategic activities Ans✓✓✓ the HOW in how customer needs are being
satisfied as part of the mission
vision Ans✓✓✓ a statement of some desired future state
WITH DETAILED VERIFIED AND 100% ACCURATE
ANSWERS BRAND NEW EXAM ALREADY GRADED (A+
PASS)
strategy Ans✓✓✓ set of related actions that managers take to increase
their company's performance
strategic leadership Ans✓✓✓ the task of most effectively managing a
company's strategy making process
strategy development Ans✓✓✓ task of determining and selecting
strategies
strategy implementation Ans✓✓✓ task of putting strategies into action
to improve a company's efficiency and effectiveness
competitive advantage Ans✓✓✓ when a company's profitability is
greater than average of other companies in the same industry competing
for the same customers - this can be replicated (short term)
sustainable competitive advantage Ans✓✓✓ when company's strategies
enable it to maintain above average profitability for a number of years -
hard to replicate
, business model Ans✓✓✓ managements idea of how strategy will allow
the company to a gain competitive advantage and achieve superior
profitability
core competencies Ans✓✓✓ competitive advantage that lasts forever
and can be applied across several business areas
mission statement Ans✓✓✓ provides a framework within which
strategies are formulated
mission Ans✓✓✓ the reason for existence today - what an organization
does
customer groups Ans✓✓✓ the WHO in who is being satisfied as part of
the mission
customer needs Ans✓✓✓ the WHAT in what is being satisfied as part of
the mission
strategic activities Ans✓✓✓ the HOW in how customer needs are being
satisfied as part of the mission
vision Ans✓✓✓ a statement of some desired future state
