MAN 3025 Exam 2 fgcu Questions and
Answers
Strategic Positioning/ Sustainable Competitive Advantage - ANSWER-
Strategic Management - ANSWER-a process that involves managers from all parts of the organization
in the formulation and the implementation of strategies and strategic goals
Strategic ...
single-product strategy - ANSWER✔✔-a company makes and sells only one product within its market
diversification strategy - ANSWER✔✔-a growth strategy whereby a firm introduces a new product or
service to a market segment that it does not currently serve
related and unrelated diversification - ANSWER✔✔-
BCG Matrix - ANSWER✔✔-a means of evaluating strategic business units on the basis of (1) their
business growth rates and (2) their share of the market
Implementing strategy - ANSWER✔✔-Action stage of strategic management where managers need to
determine and implement the most appropriate company structure, motivate employees, develop short-
range goals and establish functional strategies
strategic control - ANSWER✔✔-consists of monitoring the execution of strategy and making
adjustments, if necessary
execution - ANSWER✔✔-the carrying out or completion of some task
Three Core Processes of Business - ANSWER✔✔-People - consider who will benefit you in the future
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