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MNGT 4800 Exam 1 Kelley Questions With 100% Correct Answers A ___ strategy refers to the part of the intended strategy that are abandoned - answernonrealized A ___ is an organization which grants the right to use its brand name, products, and processes to other orgs. - answerFranchisor A __ fe...

MNGT 4800 Exam 1 –Questions With 100% Correct Answers 3 Central Questions all Businesses Face: 1. What is the present situation? 2. What should the company's Future direction be & what performance targets should they set? 3. What is our plan for running the company & achieving good performa...

MNGT 4800 Exam 1 – Waddingham Questions With 100% Correct Answers Strategic Management - answerwhy do some companies outperform other companies •Examines how actions and events involving top executives, companies, and industries influence a company's success or failure. •Formal tools exi...

MNGT 4800 Exam 1 Questions With 100% Correct Answers what is strategic management - answerstrategic management examines how actions and events involving executives, firms, and industries influence performance why do some firms succeed while others fail? - answer- it's all about the competitive ...

MNGT 4800 Exam 1 Questions With 100% Correct Answers Imagine that you have been asked to apply the industrial organization (I/O) model to explain why a firm is performing poorly. What is the most likely explanation for the firm's poor performance according to this model? a. Lack of core or dis...

MNGT 4800 - Exam 1 Questions With 100% Correct Answers Strategy a set of integrated, goal-directed actions a firm takes to develop and sustain a competitive advantage What does it mean to have a competitive advantage? - superior performance relative to competitors - always relative, never abs...

MNGT 4800 - Exam 1 Questions With 100% Correct Answers 3 central questions businesses face - answer1. What is our present situation? 2. What should the company's future direction be and what performance targets should we set? 3. What's our plan for running the company and achieving good resul...

MNGT 4800 - Exam 1 Questions With 100% Correct Answers Why is strategic planning necessary? value creation What is value creation? Justification of a firm to provide a unique set of solutions to a defined group of customer segments. Justification is _____ and must have a ____ ______ critical...

MNGT 4800 Exam 2- Zorn With Complete Solutions Two dimensions of business level strategy - answercompetitive advantage- how you make money competitive scope- who you target 5 business level strategies - answerCost leadership Focused cost leadership Differentiation Focused Differentiation Co...

MNGT 4800 - Exam 2 Questions With 100% Correct Answers The goal-directed actions managers take in their quest for competitive advantage when competing in a single product market. - answerBusiness-level strategy The size—narrow or broad—of the market in which a firm chooses to compete. - ans...

MNGT 4800 - Exam 2 Questions With 100% Correct Answers Five generic strategies to build sustainable competitive advantage - answer1.) Low Cost provider does not mean low quality, but the ability to manage your costs so you price where you want to price and make achievable profit margins (ex. Wal...

MNGT 4800 - Exam 2 Questions With 100% Correct Answers The 4 Primary Generic Business-Level Strategies - answerCost leadership, differentiation strategy, focused cost leadership, and focused differentiation. Cost leadership - answerOffers products or services with acceptable quality and features...

MNGT 4800 - Exam 2 Questions With Correct Answers Two critical aspects of management in relationship to jobs in an organization. - answer- Determine the specific nature of each job position & its relevancy to the strategic plan - Hiring managers must work with HR to justify the need of each job ...

MNGT 4800 - Exam 2 Questions With Correct Answers According to the resource-based view, a firm's competitive advantage often stems from its - answerintangible resources One of the reasons that Kodak filed for bankruptcy was due to its inability to reinvest, hone, and upgrade its once impressiv...