10/28/24, 4:39 PM BUS 475 EXAM 1 LATEST ACTUAL EXAM 70 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |AL…
BUS 475 EXAM 1 LATEST ACTUAL EXAM 70
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Terms in this set (73)
a planning tool used to identify a firm's competencies,
limitations that the company needs to improve on,
SWOT analysis
areas of growth, as well as the areas that the company
should completely avoid.
the examination of a company's resources and
internal analysis capabilities to configure a firm's ability to deliver
unique value
capital market, product four primary stakeholder groups
market, organizational,
community
a product that is fundamentally different yet serves
substitute
the same function or purpose as another product
steady growth in the productive capacity of the
economic growth
economy (and so a growth of national income)
the difficulty of identifying the actual cause of a firm's
causal ambiguity
successful performance
strategies for success that are not explicitly taught but
tacit knowledge
that instead must be inferred
positive network when the value of a product increases with the
externalities number of users
when more sellers attract more buyers, who, in turn,
virtuous circle
attract more sellers
, 10/28/24, 4:39 PM BUS 475 EXAM 1 LATEST ACTUAL EXAM 70 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |AL…
economic and strategic advantage gained by being
first-mover advantage
the first company to enter an industry
resources, capabilities, and priorities become difficult
complexity for competitors to imitate when they span the
organization or contain many interrelated elements
the cost of internal development increases
time compression
exponentially as the time taken to develop the
diseconomies
resource shrinks
each person who uses a product or service benefits
network effect
as more people participate
the price of one country's currency expressed in
currency exchange rate
terms of another country's currency
an increase in the overall level of prices in the
inflation
economy
Percentage of amount borrowed to be added to the
interest rate
amount loaned and paid back
large companies can what is a primary characteristic of employing
reduce per-unit cost of automated equipment in a company with high levels
production of production?
higher R&D costs allow for what is true of research and development (R&D)?
global expansion
an advantage a firm has over its competitors in the
activities associated with producing a product or
cost advantage
service, thereby allowing it to produce the same
product at a lower cost
an advantage a firm has over its competitors by
making a product more attractive by offering unique
differentiation advantage qualities in the form of features, reliability, and
convenience that distinguishes it from competing
products
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 ProLabs. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $22.99. You're not tied to anything after your purchase.
