MGMT 4000 Test 1 (Montgomery UGA) |
Latest Update | 2024/2025 | 100% Pass
What does organizational strategy involve?
Organizational strategy involves defining long-term goals and determining the best ways to
achieve them.
What is a business model?
A business model describes how a comp...
MGMT 4000 Test 1 (Montgomery UGA) |
Latest Update | 2024/2025 | 100% Pass
What does organizational strategy involve?
✔✔ Organizational strategy involves defining long-term goals and determining the best ways to
achieve them.
What is a business model?
✔✔ A business model describes how a company creates, delivers, and captures value in the
market.
What is the significance of market segmentation?
✔✔ Market segmentation involves dividing a market into distinct groups of consumers with
similar needs or characteristics to target them more effectively.
What is resource allocation?
✔✔ Resource allocation refers to the process of distributing resources such as capital and
personnel to various parts of an organization to achieve strategic goals.
1
,What is the concept of organizational effectiveness?
✔✔ Organizational effectiveness measures how well an organization achieves its goals and
meets its objectives.
What is value proposition?
✔✔ A value proposition defines the unique value a company offers to its customers that
differentiates it from competitors.
What is project management?
✔✔ Project management involves planning, executing, and closing projects to achieve specific
goals within a set timeframe and budget.
What is the purpose of market research?
✔✔ Market research involves gathering and analyzing information about consumers’ needs and
preferences to make informed business decisions.
What is business strategy alignment?
✔✔ Business strategy alignment ensures that an organization's activities and resources are
directed towards achieving its strategic goals.
2
,What does risk management entail?
✔✔ Risk management involves identifying, assessing, and mitigating risks that could impact an
organization’s objectives.
What is customer relationship management (CRM)?
✔✔ CRM is a system for managing a company's interactions with current and potential
customers to improve relationships and drive sales growth.
What is strategic implementation?
✔✔ Strategic implementation involves putting a strategic plan into action by aligning resources
and efforts to achieve the defined goals.
What is competitive analysis?
✔✔ Competitive analysis involves evaluating competitors to understand their strengths and
weaknesses relative to your own business.
What is lean management?
3
, ✔✔ Lean management focuses on minimizing waste and maximizing value in business processes
to improve efficiency and effectiveness.
What is employee engagement?
✔✔ Employee engagement is the level of commitment and enthusiasm employees have towards
their work and organization.
What is financial forecasting?
✔✔ Financial forecasting involves estimating future financial performance based on historical
data, trends, and business conditions.
What does strategic partnership mean?
✔✔ A strategic partnership is a collaborative relationship between two or more businesses to
achieve mutual goals and benefits.
What is organizational change?
✔✔ Organizational change involves modifying structures, processes, or practices within a
company to improve performance or adapt to new conditions.
4
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 SterlingScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.59. You're not tied to anything after your purchase.
