GMS 200 EXAM QUESTIONS AND ANSWERS ALL CORRECT
Sustainable Competitive Advantage - Answer-The ability to outperform rivals in ways that are difficult or costly to imitate
Strategy - Answer-a comprehensive plan guiding resource allocation to achieve long term organization goals
Strategic Inte...
Sustainable Competitive Advantage - Answer-The ability to outperform rivals in ways
that are difficult or costly to imitate
Strategy - Answer-a comprehensive plan guiding resource allocation to achieve long
term organization goals
Strategic Intent - Answer-Focusing and applying organizational energies on a unifying
and compelling goal
Corporate Strategy - Answer-a strategy that sets long term direction for the total
enterprise
Business Strategy - Answer-A strategy that identifies how a division or strategic
business unit will can compete in its own product domain
Functional Strategy - Answer-A strategy that guides activities within one specific area of
operation
Strategic Management - Answer-The process of formulating and implementing
strategies to accomplish long term goals and sustain competitive advantage
Strategic Analysis - Answer-the process of analyzing the competitive position of the
organization and current strategies
Strategic Formulation - Answer-The process of creating strategies to guide the
allocation of resources
Strategic Implementation - Answer-The process of putting strategies into action
Strategic Constituencies Analysis - Answer-Analysis that assesses the interests of
stakeholders and how well the organization is responding to them
Organizational Culture - Answer-the predominant value system for the organizers as a
whole
Porters Five Forces Model - Answer-analyzes industry attractiveness in terms of
competitive rivalry, new entrants, substitute products, and the bargaining powers of
suppliers and buyers.
, Growth Strategy - Answer-Corporate level strategy that involves expansion of the
organization's current operations
Stability Strategy - Answer-Corporate level strategy that maintains current operations
without substantial changes
Renewal Strategy - Answer-Corporate level strategy that tries to solve problems and
overcome weaknesses that affect performance
Liquidation - Answer-When business operations cease and assets are sold to creditors
Combination Strategy - Answer-Corporate level strategy that pursues growth, stability,
and renewal in some combination
Growth through Concentration - Answer-growth within the same business area
Growth through Diversification - Answer-Growth by acquisition of or investment in new
and different business areas
Growth through Vertical Integration - Answer-Growth by acquiring suppliers or
distributors
Restructuring - Answer-A renewal strategy that tries to correct weaknesses by changing
the scale of operations
Turnaround Strategy - Answer-A renewal strategy that tries to fix specific performance
problems
Downsizing Strategy - Answer-A renewal strategy that decreases the size of operations
Divestiture Strategy - Answer-A renewal strategy that sells off parts of the organization
to refocus attention on core business areas
Globalization Strategy - Answer-A global strategy of adopting standardized products
and advertising for use worldwide
Multidomestic Strategy - Answer-A global strategy that customizes product and
advertising to best fit local needs
Transnational Strategies - Answer-A global strategy that seeks efficiencies of global
operations with attention to local markets
Coopetition - Answer-A Cooperative strategy of working with rivals on projects of mutual
interest
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