IBus Exam 3 Question and answers
already passed 2026
planning - correct answer ✔Process of identifying and selecting an organization's objectives and
deciding how the organization will those objectives. (11, 276)
strategy - correct answer ✔Set of planned actions taken by managers to help a company meet its
objectives. (11, 276)
mission statement - correct answer ✔written statement of why a company exists and what it plans to
accomplish. (11, 276)
stakeholders - correct answer ✔All parties, ranging from suppliers and employees to stockholders and
consumers, who are affected by a company's activities. (11, 276)
core competency - correct answer ✔The special ability of a company that competitors find extremely
difficult or impossible to equal (11, 278)
value-chain analysis - correct answer ✔process of dividing a company's activities into primary and
support activities and identifying those that create value for customers. (11, 278)
multinational (multidomestic) strategy - correct answer ✔Adapting products and their marketing
strategies in each national market to suit local preferences. (11, 280)
global strategy - correct answer ✔offering the same products using the same marketing strategy in all
national markets. (11, 281)
growth strategy - correct answer ✔Strategy designed to increase the scale (size of activities) or scope
(kinds of activities) of a corporation's operations. (11, 281)
, the three different levels of compnay strategy are: - correct answer ✔corporate, business and
department-level strategies.(11, 281)
the four key approaches to coporate strategy are: - correct answer ✔gowth, retrenchment, stability
and combination. (11, 281)
retrenchment strategy - correct answer ✔strategy designed to reduce the scale or scope of a
corporation's businesses. (11, 282)
stability strategy - correct answer ✔strategy designed to guard against change and used by
corporations to avoid either growth or retrenchment. (11, 282)
combination strategy - correct answer ✔strategy designed to mix growth, retrenchment, and stability
strategies across a corporation's business units. (11, 283)
low-cost leadership strategy - correct answer ✔strategy in which a company exploits economies of
scale to have the lowest cost structure of any competitor in its industry. (11, 283)
differentiation strategy - correct answer ✔strategy in which a company designs its products to be
perceived as unique by buyers throughout its industry. (11, 283 )
focus strategy - correct answer ✔strategy in which a company focuses on serving the needs of a
narrowly defined market segment by being the low-cost leader, by differentiating its product, or both.
(11, 284)
organizational structure - correct answer ✔way in which a company divides its activities among
separate units and coordinates activities among those units. (11, 285)
already passed 2026
planning - correct answer ✔Process of identifying and selecting an organization's objectives and
deciding how the organization will those objectives. (11, 276)
strategy - correct answer ✔Set of planned actions taken by managers to help a company meet its
objectives. (11, 276)
mission statement - correct answer ✔written statement of why a company exists and what it plans to
accomplish. (11, 276)
stakeholders - correct answer ✔All parties, ranging from suppliers and employees to stockholders and
consumers, who are affected by a company's activities. (11, 276)
core competency - correct answer ✔The special ability of a company that competitors find extremely
difficult or impossible to equal (11, 278)
value-chain analysis - correct answer ✔process of dividing a company's activities into primary and
support activities and identifying those that create value for customers. (11, 278)
multinational (multidomestic) strategy - correct answer ✔Adapting products and their marketing
strategies in each national market to suit local preferences. (11, 280)
global strategy - correct answer ✔offering the same products using the same marketing strategy in all
national markets. (11, 281)
growth strategy - correct answer ✔Strategy designed to increase the scale (size of activities) or scope
(kinds of activities) of a corporation's operations. (11, 281)
, the three different levels of compnay strategy are: - correct answer ✔corporate, business and
department-level strategies.(11, 281)
the four key approaches to coporate strategy are: - correct answer ✔gowth, retrenchment, stability
and combination. (11, 281)
retrenchment strategy - correct answer ✔strategy designed to reduce the scale or scope of a
corporation's businesses. (11, 282)
stability strategy - correct answer ✔strategy designed to guard against change and used by
corporations to avoid either growth or retrenchment. (11, 282)
combination strategy - correct answer ✔strategy designed to mix growth, retrenchment, and stability
strategies across a corporation's business units. (11, 283)
low-cost leadership strategy - correct answer ✔strategy in which a company exploits economies of
scale to have the lowest cost structure of any competitor in its industry. (11, 283)
differentiation strategy - correct answer ✔strategy in which a company designs its products to be
perceived as unique by buyers throughout its industry. (11, 283 )
focus strategy - correct answer ✔strategy in which a company focuses on serving the needs of a
narrowly defined market segment by being the low-cost leader, by differentiating its product, or both.
(11, 284)
organizational structure - correct answer ✔way in which a company divides its activities among
separate units and coordinates activities among those units. (11, 285)
