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BPL 5100 Exam Study Guide | Questions And Answers Latest {} A+ Graded | 100% Verified
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BPL 5100 Exam Study Guide | Questions And Answers Latest {} A+ Graded | 100% Verified
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BPL 5100 Exam Study Guide | Questions And Answers Latest {2024- 2025} A+ Graded |100% Verified
Strategic Management - Identifying opportunities to create value in dynamic competitive environments
and building the capabilities needed to tackle the opportunities
Strategic management - the analyses, decisions, and actions an organization undertakes in order to
create and sustain competitive advantages
shareholder - owns part of a company through stock ownership
stakeholder - individuals, groups, and organizations who have a stake in the success of the organization -
ex. owners, employees, customers, suppliers, and the community at large
Hierarchy of Goals - Vision - General & Long Term
Hierarchy of Goals - Mission - B/W General and Specific & B/W Long Term and Short term
Hierarchy of Goals - Strategic Objectives - Specific goals & short term
Vision - Massively inspiring, overarching, and long term
Mission - Purpose of the firm, basis of competition and competitive advantage
Strategic Objectives - Operationalization of the mission - SMART
How to fulfill higher goals: - SMART - Specific, Measurable, Appropriate, Realistic, Timely
Succesful Strategy - Long-Term, Simple and Agreed Objectives
Understanding of competitive environment
, Understanding of internal resources
Tools for Analyzing the External Environment - SWOT, Environmental Analysis, Industry Analysis
SWOT - Strengths (INDIVIDUAL), Weakness (INDIVIDUAL), Opportunities (EXTERNAL), Threats
(EXTERNAL)
Environmental Analysis - Demographic, Sociocultural, Political/Legal, Technological, Economic, Global
industry analysis - Understand the structure of the industry in which the firm competes in and the
underlying reasons why that structure is what it is
FIVE FORCES components to an industry analysis - Threat of New Entrants - Customer Power - Threat of
Substitutes - Supplier Power
Rivalry - Competitive structure: fragmented/consolidated, Demand/industry growth conditions,
differentiation and switching costs, exit barriers
Threat of New Entrants - Economies of Scale, Product differentiation, capital requirements, switching
costs, distribution channels, cost disadvantage,
Customer Power - Number of buyers - volume of purchases - switching costs - availability of substitutes
buyers can vertical integrate
Threat of Substitutes - Products from industries that serve similar needs
Supplier Power - Substitutes and relevance of suppliers' products, switching costs, forward integration
(define) by suppliers, importance of industry for suppliers
strategic group - a collection of firms in an industry that follow the same or a similar strategy
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