BUSI 490 CAPSTONE FINAL EXAM correctly answered//passed

BUSI 490 CAPSTONE FINAL EXAM ANNUAL OBJECTIVES - correct answer Short-term milestones, usually one year, that organizations must achieve to reach long-term targets/goals. COMPETITIVE ADVANTAGE - correct answer Anything a firm does especially well, compared to rival firms. For example, when a firm can do something that rival firms cannot do, or owns something that rival firms desire, that can represent a competitive advantage. EMPOWERMENT - correct answer The act of strengthening employees' sense of shared ownership by encouraging them to participate in decision making and rewarding them for doing so. ENVIRONMENTAL SCANNING - correct answer Process of conducting research and gathering and assimilating external information. EXTERNAL OPPORTUNITIES - correct answer Economic, social, cultural, demographic, environmental, political, legal, governmental, technological, and competitive trends/events/facts that could significantly benefit an organization in the future. EXTERNAL THREATS - correct answer Economic, social, cultural, demographic, environmental, political, legal, governmental, technological, and competitive trends/events/facts that could significantly harm an organization in the future. INTERNAL STRENGTHS - correct answer An organization's controllable activities that are performed especially well, such as in areas that include finance, marketing, management, accounting, MIS, across a firm's products/regions/stores/facilities