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BSG Exam 1 With 100% Correct And Verified Answers
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BSG Exam 1 With 100% Correct And Verified Answers
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BSG Exam 1 With 100% Correct AndVerified Answers
Strategic Competitiveness - Correct Answer-When a firm successfully
formulates and implements a value-creating strategy.
Strategy - Correct Answer-An integrated and coordinated set of
commitment and actions designed to exploit core competencies and gain
a competitive advantage.
Competitive Advantage - Correct Answer-When a firm implements a
strategy that its competitors are unable to duplicate or find too costly to
try to imitate.
Risk - Correct Answer-An investor's uncertainty about the economic gains
or losses that will result from a particular event.
Average Returns - Correct Answer-Returns equal to those an investor
expects to earn from other investments with a similar amount of risk.
Above-average returns - Correct Answer-Returns in excess of what an
investor expects to earn from other investments with a similar amount.
Strategic Management Process - Correct Answer-A full set of
commitments, decisions, and actions required for a firm to achieve
strategic competitiveness.
Dominance of the External Environment - Correct Answer-Industry in
which a firm competes has a stronger influence on the firm's performance
that do the choices managers make inside their organizations.
4 Assumptions of the I/O Model - Correct Answer-External environment
imposes pressures and constraints that determine strategies leading to
above average returns.
Most firms competing in an industry control similar strategically relevant
resources and pursue similar strategies.
Vendarsol
, Resources used to implement strategies are highly mobile across firms.
Organizational decision makers are assumed to be rational and committed
to acting in the firm's best interest (Profit-Maximizing)
A sustained or sustainable competitive advantage requires that: - Correct
Answer-other companies not be able to duplicate the strategy.
Investors in a company judge the adequacy of the returns on their
investment in relation to: - Correct Answer-the returns on other
investments of similar risk..
The strategic management process is: - Correct Answer-a dynamic
process involving the full set of commitments, decisions, and actions
related to the firm.
Which of the following is NOT an assumption of the Industrial
Organization, or I/O, model? - Correct Answer-Resources to implement
strategies are not highly mobile across firms.
Vision - Correct Answer-A picture of what the firm wants to be and in
broad terms, what it wants to ultimately achieve.
Mission - Correct Answer-Specifies the business(es) in which the firm
intends to compete and the customers it intends to serve. More concrete
than the firm's vision.
Stakeholders - Correct Answer-Individuals/groups who can affect/are
affected by, the strategic outcomes achieved and who have enforceable
claims on a firm's performance.
Two issues that affect the extent of stakeholder
involvement in the firm: - Correct Answer-1. How to
divide returns to keep stakeholders involved.
2. How to increase returns so everyone has more to
share?
Vendarsol
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