SEVI 3013 Exam 1 Study Guide 2023 with complete solution
0 view 0 purchase
Course
SEVI
Institution
SEVI
SEVI 3013 Exam 1 Study Guide 2023 with complete solution
Strategy
the set of decisions and actions of firm managers to ensure the future success of the firm; integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage
Charact...
sevi 3013 exam 1 study guide 2023 with complete so
Written for
SEVI
All documents for this subject (68)
Seller
Follow
magdamwikash23
Reviews received
Content preview
SEVI 3013 Exam 1 Study Guide 2023 with complete
solution
Strategy
the set of decisions and actions of firm managers to ensure the future success of the
firm; integrated and coordinated set of commitments and actions designed to exploit
core competencies and gain a competitive advantage
Characteristics of a strategy
focuses on future and success
Corporate strategy
What industries should we compete in?
Business strategy
How should we compete in our chosen industries?
Global Economy
economy in which goods, services, people, skills, and ideas move freely across
geographic borders
Technological diffusion
speed at which new technologies become available to firms and when firms choose to
adopt them
Knowledge intensity
consists of information, intelligence, and expertise; basis of technology and its
application
Stakeholders
individuals/entities who may be affected by or affect the firms outcomes
Strategic leaders
people located in different levels of the firm to select actions that help the firm achieve
its vision and fulfill its mission; decisive and committed to creating value
Above average returns
investors get yields that exceed what they expect from other investments with similar
risks
Key elements of Industrial Organizational (IO) model
industry-based, external environment, attractive industry, strategy formulation, assets
and skills, strategy implementation, superior returns
5 forces model
threat of new entrants, rivalry among competing firms, bargaining power of suppliers,
bargaining power of buyers, threat of substitute products
Industry
set of firms that produce similar products
Industry boundaries
can change rapidly; helps executives determine the arena in which their firm is
competing
How strategic managers deal with changing industry boundaries
be willing to change your perception of industry and have multiple perceptions of your
industry
Components of general environment
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller magdamwikash23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
