Exam (elaborations)
BPL 5100 - MIDTERM REVIEW EXAM 2024
- Course
- Institution
BPL 5100 - MIDTERM REVIEW EXAM
[Show more]
Content preview
BPL 5100 - MIDTERM REVIEW EXAMWHAT IS BUSINESS STRATEGY LEVEL VS. CORPORATE LEVEL STRATEGY? -
Answer -BLS:
How to position a firm in an industry.
- how to get a competitive advantage
- how to pick-up a strategy (low-cost or differentiation)
CLS:
- In what business are we in? Example: Avon (although Avon has a presence in fashion
and jewelry, Avon are in cosmetic business)
- Many industries
- Acquisition / Diversification / JV / Integration
DEFINE COST-LEADERSHIP STRATEGY? - Answer -Cost leadership strategy is the
ability to lower the costs.
Ans.: Decision on how to lower the costs (production) and then to sell goods or services
at a cheapest price.
PEOPLE ARE IN THE HEART OF STRATEGY, HOW HUMAN RESOURCE CAN
ENABLE THE SUCCESS OF STRATEGY? - Answer -Ans.:
- Human Capital (Talents) --> Intellectual Capital (intangible resources)
- Skills and Experiences
--> monitor behaviors (team work)
--> improve skills to training, couching, mentoring, and etc.
--> design a specific structure for these strategy and people.
WHAT DO YOU MEAN BY "THE NATURE OF THE ENVIRONMENT"? HOW CAN WE
IMPROVE ON UNDERSTANDING IT (difficult to predict = uncertainty)? - Answer -Ans.:
difficult to predict = uncertainty
--> External environment = industry
--> Trends and changes of the industry
--> Environmental scanning/mentoring/forecasting.
DEFINE STRATEGIC MANAGEMENT? - Answer -ANALYSIS --> FORMULATION -->
IMPLEMENTATION --> ASSESSMENT
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
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 millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now