MAN 320F EXAM 2 AROIAN UPDATED ACTUAL Questions and CORRECT Answers
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Course
MAN 320F
Institution
MAN 320F
MAN 320F EXAM 2 AROIAN UPDATED
ACTUAL Questions and CORRECT
Answers
Blue Ocean Strategy - CORRECT ANSWER- strategy where it includes all industries not
in existence, unknown market space
going where the profits and growth is, not where the competition is
Red Ocean Strategy - CORRECT ANSWE...
MAN 320F EXAM 2 AROIAN UPDATED
ACTUAL Questions and CORRECT
Answers
Blue Ocean Strategy - CORRECT ANSWER- ✔✔strategy where it includes all industries not
in existence, unknown market space
going where the profits and growth is, not where the competition is
Red Ocean Strategy - CORRECT ANSWER- ✔✔all industries in existence, the known mkt
space
industries never stand... - CORRECT ANSWER- ✔✔still
strategic move - CORRECT ANSWER- ✔✔the set of managerial actions and decisions
involved in making a major market-creating business offering
with technology & globalization, it has led to what? - CORRECT ANSWER- ✔✔accelerated
commodization
where brands become more similar, ppl buy more on price
The iPod was so successful because it was a - CORRECT ANSWER- ✔✔fully-integrated
product
What does it mean...blue ocean? - CORRECT ANSWER- ✔✔creating a new group of
consumers
most are created from within red oceans
what is the key to success? - CORRECT ANSWER- ✔✔market opportunity
Value innovation - CORRECT ANSWER- ✔✔low costs
high buyer value
, red vs blue ocean strategy - CORRECT ANSWER- ✔✔Red:
compete in existing mkt space, beat competition, exploit existing demand, focus on value-
cost trade-off, make decision to differentiate through strategic choice and low costs
Blue:
create new mkt space, competition= irrelevant, creating new demand, focus on differentiation
& low costs, reconstructionist view
the winning strategic approach involves - CORRECT ANSWER- ✔✔value innovation
you break the value-cost trade off by - CORRECT ANSWER- ✔✔enhancing a limited set of
key factors and reducing or eliminating all other traditional
ex: microsoft office vs open office
strategic plan - CORRECT ANSWER- ✔✔comprehensive plan that identifies the critical
direction and guides the allocation of resources
strategic management - CORRECT ANSWER- ✔✔1) analyze and learn from stakeholders
2) establish strategic direction
3) create strategy
4) execute it
(all in effort to please stakeholders)
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