Mngt 4800 Study guides, Class notes & Summaries

What is Corporate Strategy? correct answers what our goal is and how we accomplish that goal Key characteristics of strategic management correct answers -performance oriented -ongoing in nature -dynamic rather than static -oriented to the present and future -concerned with conditions both outside and inside the firm -concerned with performing well and satisfying stakeholders Strategy can take many forms: correct answers entire firm within department intended or emergent Strategic manag...

Strategy examples from the video shown in class? correct answers Be the low-cost provider Pursue a global strategy Unravel competition * ^ not strategies at all (strategy is merely a buzz word) Stratego correct answers the art of the general ("the art of war" specific to the general) *the goal is to win* A strategic business strategy is to correct answers develop a series of complex tactics Good strategy answers these questions: correct answers 1. Where do we compete? 2. What uni...

MNGT 4800 Ch. 5-6

MNGT 4800 Exam 1, Strategic Management (MNGT-4800): Exam 1 ZORN Exam Questions With Correct Answers structure of public corporations - answer1. shareholders/owners 2. board of directors 3. CEO 4. top management team 5. employees top management team - answerconsists of VPs and above (COO, CFO, etc.) who holds the final responsibility for formulating and implementing strategic management? - answertop management hierarchy of goals - answer1. VISION (general, long time horizon; flows into...

MNGT 4800 Simulation Exam Questions with 100% Verified Correct Answers 2024 Rated A+ Why simulate? - Correct Answer - risk free - big picture -develop critical thinking skills - compresses time - comprehensive strategy About the Business - Correct Answer - all teams begin with identical profile - oligopoly - no outside competitors or product substitutes -benign environment What is an oligopoly? - Correct Answer market dominated by handful of firms Five Market Segments - Corre...

Equation for Return on Assets? correct answers Return on Assets= Net Income/Total Assets Competitive ___________________ differences should be measured by using a variety of evaluation tools. correct answers Performance Competitive performance is always measured ____________ to other firms correct answers Relative Measuring Competitive Advantage - Three standards are typical by asking: 1. 2. 3. correct answers 1. How much economic value does the firm generate? 2. What is the firm's...

Equation for Return on Assets? correct answers Return on Assets= Net Income/Total Assets Competitive ___________________ differences should be measured by using a variety of evaluation tools. correct answers Performance Competitive performance is always measured ____________ to other firms correct answers Relative Measuring Competitive Advantage - Three standards are typical by asking: 1. 2. 3. correct answers 1. How much economic value does the firm generate? 2. What is the firm's acc...

Business Strategy correct answers concerns the question of "how to compete" in a single product market Differentiation or Cost-Leader correct answers Firms pursue competitive advantages through either a _______________________ or __________________________ generic strategy •Offering new products and/or services •Competing in different geographic regions correct answers As firms grow, they may look for opportunities to expand to new markets such as... Corporate Strategy correct an...

Strategic Management correct answers examines how actions and events involving executives, firms, and industries influence performance Henry Mintzberg: 5 Ps of STRATEGY correct answers plan ploy pattern position perspective plan correct answers a consciously-intended course of action to deal with a situation ploy correct answers a specific "maneuver" intended to outwit a competitor pattern correct answers a consistent stream of action position correct answers location among ...

Business Level Strategy correct answers goal-directed actions managers take in their quest for competitive advantage in a single product market Business Level Strategies may involve 2 things: correct answers 1. a single product 2. group of similar products A business level strategy broadly concerns what question? correct answers "How should a firm compete?" - Who will we serve? (customer segments) - What customer wants/needs will we satisfy? - Why do we want to satisfy them? - How w...