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Exam (elaborations)

Business Capstone Exam 2023 with 100% correct answers

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Business Capstone Exam 2023 Strategic Competitiveness - ANSWER-when a firm successfully formulates and implements a value-creating strategy Competitive advantage - ANSWER-a firm has this when it implements a strategy that creates superior value for customers and competitors are unable to du...

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  • March 6, 2023
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Business Capstone Exam 2023

Strategic Competitiveness - ANSWER-when a firm successfully formulates and implements a value-
creating strategy



Competitive advantage - ANSWER-a firm has this when it implements a strategy that creates superior
value for customers and competitors are unable to duplicate or find too costly to try to imitate



Stakeholders - ANSWER-are the individuals, groups, and organizations that can affect the firm's vision
and mission, are affected by the strategic outcomes achieved, and have enforceable claims on the firm's
performance



Mission - ANSWER-specifies the businesses in which the film intends to compete and the customers it
intends to serve



Vision - ANSWER-is a picture of what the firm wants to be and in broad terms, what it wants to
ultimately achieve



General Environment - ANSWER-is composed of dimensions in the broader society that influence an
industry and the firms within it



Industry Environment - ANSWER-is the set of factors that directly influences a firm and its competitive
actions and responses: the threat of new entrants, the power of suppliers, the power of buyers, the
threat of product substitutes, and the intensity of rivalry among competing firms



Demographic Segments - ANSWER-are concerned with a populations size, age structure, geographic
distribution, ethnic mix, and income distribution



Competitor Analysis - ANSWER-How companies gather and interpret information about their
competitors

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