MAN 4720 Capstone UCF Midterm Exam Study Guide Questions with 100% Verified Correct Answers 2025/2026

MAN 4720 Capstone UCF Midterm Exam Study Guide Questions with 100% Verified Correct Answers 2025/2026 Value Chain - Correct Answer A tool that charts the path by which products and services are created and eventually sold to customers. Which of the following frameworks treats companies as a set of activities that add value to the product/service for the________ - Correct Answer Value Chain Framework Strategic Management - Correct Answer Process through which strategy is developed, executed, and evaluated Strategic decisions - Correct Answer Are ill-struted and non-routine, significantly affect the subsequent actions of functions and departments across the entire organization, involve a significant commitment of resources, are difficult to reverse both economically and politically, involve making a clear choice among competing alternatives, are easily identified with the success or failure of the organization Value Chains are: - Correct Answer A systematic way of examining all the activites a firm performs and how they interact Corporate Strategy - Correct Answer The efforts involved in companies that have multiple business units under the same corporate banner Superior performance - Correct Answer Outcomes that exceed the average for the industry in which the company competes Long-range planning (LRP) - Correct Answer Exercise aimed at formulating a long-term plan, to meet future needs estimated usually by extrapolation of present or known needs. Resource-based analysis - Correct Answer Focuses on internal resources, the firms strengths and weaknesses, in contrast to the positional or environmental model of competitive advantage which focuses on opportunities and threats Triple Bottom line - Correct Answer measure performance in economic, social and ecologogical or environmental terms Normal Profit - Correct Answer minimum return earned by a company that is necessary to attract and secure the owner's inputs Economic logic - Correct Answer A recipe by which the successful company seeks to generate a return that is greater than what competitors earn and greater than its cost of capital