MAN 3025 EXAM 2 FGCU UPDATED QUESTIONS WITH ANSWERS 100% CORRECT RATED BY EXPERTS
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MAN 3025 2 FGCU UPDATED
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MAN 3025 2 FGCU UPDATED
MAN 3025 EXAM 2 FGCU UPDATED QUESTIONS WITH ANSWERS 100% CORRECT RATED BY EXPERTS MAN 3025 EXAM 2 FGCU UPDATED QUESTIONS WITH ANSWERS 100% CORRECT RATED BY EXPERTS MAN 3025 EXAM 2 FGCU UPDATED QUESTIONS WITH ANSWERS 100% CORRECT RATED BY EXPERTS MAN 3025 EXAM 2 FGCU UPDATED QUESTIONS WITH ANSWERS 1...
MAN 3025 EXAM 2
FGCU UPDATED QUESTIONS
WITH ANSWERS 100%
CORRECT RATED BY EXPERTS
BCG Matrix - CORRECT ANSWER>>>>is a corporate planning tool, which is used to
portray firm's brand portfolio or SBUs on a quadrant along relative market share axis
(horizontal axis) and speed of market growth (vertical axis) axis
Benchmarking - CORRECT ANSWER>>>>a process by which a company compares its
performance with that of high-performing organizations
Blue Ocean Strategy - CORRECT ANSWER>>>>An approach where firms seek to
create and compete in uncontested "blue ocean" market spaces, rather than competing
in spaces and ways that have attracted many, similar rivals.
Competitive intelligence - CORRECT ANSWER>>>>gaining information about one's
competitors' activities so that you can anticipate their moves and react appropriately
Contingency planning - CORRECT ANSWER>>>>Planning for unexpected events,
usually involving a range of scenarios and assumptions that differ from the assumptions
behind the core plans.
Cost-focus strategy - CORRECT ANSWER>>>>keep the costs of a product below
those of competitors and to target a narrow market
Cost leadership strategy - CORRECT ANSWER>>>>keep the costs, and hence prices,
of a product or service below those of competitors and to target a wide market
Current reality assessment - CORRECT ANSWER>>>>to look at where the
organization stands and see what is working and what could be different so as to
maximize efficiency and effectiveness in achieving the organization's mission
Defensive strategy - CORRECT ANSWER>>>>a social responsiveness strategy in
which a company admits responsibility for a problem but does the least required to meet
societal expectations
Differentiation strategy - CORRECT ANSWER>>>>Distinguishing an organization's
products from the products of competitors on dimensions such as product design,
quality, or after-sales service.
, Diversification - CORRECT ANSWER>>>>a strategy of increasing sales by introducing
new products into new markets
Environmental scanning - CORRECT ANSWER>>>>collection and interpretation of
information about forces, events, and relationships in the external environment that may
affect the future of the organization or the implementation of the marketing plan
Execution - CORRECT ANSWER>>>>the way something is done
Focused differentiation strategy - CORRECT ANSWER>>>>same as the differentiation
strategy except with a narrow focus on a niche market
Forecast - CORRECT ANSWER>>>>to predict
Grand strategy - CORRECT ANSWER>>>>a broad corporate-level strategic plan used
to achieve strategic goals and guide the strategic alternatives that managers of
individual businesses or subunits may use
Growth strategy - CORRECT ANSWER>>>>a strategy that focuses on increasing
profits, revenues, market share, or the number of places in which the company does
business
Innovation strategy - CORRECT ANSWER>>>>a strategy that emphasizes the
introduction of major new products and services
Organizational opportunities - CORRECT ANSWER>>>>environmental factors that the
organization may exploit for competitive advantage
Organizational strengths - CORRECT ANSWER>>>>skills and capabilities that give the
organization special competencies and competitive advantages in executing strategies
in pursuit of its mission
Organizational threats - CORRECT ANSWER>>>>environmental factors that hinder an
organization's achieving a competitive advantage
Organizational weaknesses - CORRECT ANSWER>>>>drawbacks that hinder an
organization in executing strategies in pursuit of its mission
Porter's model for industry analysis - CORRECT ANSWER>>>>
Scenario analysis - CORRECT ANSWER>>>>process of devising a list of possible
economic scenarios and specifying the likelihood of each one, as well as the HPR that
will be realized in each case
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