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BPL 5100 Exam | Questions And Answers Latest {} A+ Graded | 100% Verified
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BPL 5100 Exam | Questions And Answers Latest {} A+ Graded | 100% Verified
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BPL 5100 Exam | Questions And Answers Latest {2024- 2025} A+ Graded | 100% VerifiedRomantic View of Leadership - Leader is the key force in organization's success
external control view of leadership - situations in which external forces may positively or negatively
affect a firm's success
Strategic Management - consists of the analyses, decisions, and actions an organization undertakes in
order to create and sustain competitive advantages.
Strategic Management involves - analyses, decisions, and actions.
Decisions - Formulation - What industries should we compete in?
How should we compete in those industries?
4 keys attributes - •Directs the organization toward overall goals and objectives.
•Includes multiple stakeholders in decision making.
•Needs to incorporate short-term and long-term perspectives.
•Recognizes trade-offs between efficiency and effectiveness.
Analysis - •Strategic goals (vision, mission, strategic objectives).
•Internal and external environment.
Actions- Implementation of strategy - •Allocate necessary resources.
•Design the organization to bring intended strategies to reality.
Operational effectiveness - performing similar activities better than rivals (not enough to sustain a
competitive advantage
Efficiency - performing actions at a low cost relative to a benchmark- or doing things right
, Effectiveness - tailoring actions to the needs of an organization rather than wasting effort, or "doing the
right thing."
Intended Strategy - strategy in which organizational decisions are determined only by analysis
Realized Strategy - strategy in which organizational decisions are determined by both analysis and
unforeseen environmental developments, unanticipated resource constraints, and/or changes in
managerial preferences
Strategy goal: - to gain competitive advantage
Strategy analysis - study of firms' external and internal environments and their fit with organizational
vision and goals.
Bases for sustainable competitive advantage - •Cost leadership and/or Differentiation
Board of directors - provides detailed procedures for formal evaluation of directors and the firm's top
officers
triple bottom line - assessment of a firm's financial, social, and environmental performance
vision - organizational goal(s) that evoke(s) powerful and compelling mental images, i.e., "To be the
happiest place on earth" (Disney).
Mission (more specific than vision) - a set of organizational goals that identifies the purpose of the
organization, its basis of competition, and competitive advantage.
Perceptual acuity - the ability to sense what is coming before the fog clears
environment awareness - scanning, monitoring, and gathering competitive intelligence, and using these
inputs to develop forecasts.
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