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WPC 480 Exam 1 Questions and Answers (Graded A)
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WPC 480 Exam 1 Questions and Answers

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  • October 19, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • wpc 480 exam 1 questions and answers

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WPC 480 Exam 1 Questions and
Answers

Strategy ii- iiAnswers ii-is iithe iiset iiof iigoal-directed iiactions iia iifirm iitakes iito iigain iiand
iisustain iisuperior iiperformance iirelative iito iicompetitors


Strategy iiis iia iicombination iiof iiplan iiand iiaction iioriented iitowards iia iigoal

AFI iiFramework ii- iiAnswers ii-Analysis:
External ii- iithe iiprocess iiof iiscanning iiand iievaluating iian iiorganization's iivarious
iiexternal iienvironmental iisectors iito iidetermine iipositive iiand iinegative iitrends iithat
iicould iiimpact iiorganizational iiperformance
Internal ii- iiInternal iianalysis iiis iithe iiprocess iiof iiidentifying iiand iievaluating iian
iiorganization's iispecific iicharacteristics, iiincluding iiits: iiresources, iicapabilities, iicore
iicompetencies


Formulation:
Business iiStrategy ii- iithe iigoal-directed iiactions iimanagers iitake iiin iitheir iiquest iifor
iicompetitive iiadvantage iiwhen iicompeting iiin iia iisingle iiproduct iimarket iistrategies. ii
Corporate iiStrategy ii- iicomprises iithe iidecisions iithat iisenior iimanagement iimakes iiand
iithe iigoal-directed iiactions iiit iitakes iiin iithe iiquest iifor iicompetitive iiadvantage iiin iiseveral
iiindustries iiand iimarkets iisimultaneously. ii


Corporate iistrategy iidetermines iithe iiboundaries iiof iithe iifirm iialong iithree iidimensions:
iiindustry iivalue iichain, iiproducts iiand iiservices, iiand iigeography


Stakeholders ii- iiAnswers ii-Organizations, iigroups, iiand iiindividuals iithat iican iiaffect iior
iiare iiaffected iiby iia iifirm's iiactions


External: iicustomers, iisuppliers, iigovernments, iimedia

Internal: iiemployees, iistockholders, iiboard iimembers

taking iicare iiof iistakeholders ii= iigood iistrategy

Corporate iiSocial iiResponsibilities ii- iiAnswers ii-Economic, iilegal, iiethical iiand
iiphilanthropic


Mission
Vision

, Values ii- iiAnswers ii-mission: iiWhat iian iiorganization iidoes iiand iiwhy iiit iiexists;
iisometimes iicalled iithe ii"purpose iistatement"


vision: iiWhat iian iiorganization iiwants iito iiaccomplish/become

values: iiWhat iian iiorganization iibelieves iiin, iidrive iimission

Top iiDown iivs. iiEmergent iiStrategy ii- iiAnswers ii-top iidown: iia iirational, iidata-driven
iistrategy iiprocess iithrough iiwhich iitop iimanagement iiattempts iito iiprogram iifuture
iisuccess


emergent: iiAny iiunplanned iistrategic iiinitiative, iioften iibubbling iiup iifrom iithe iibottom iiof
iithe iiorganization


Financial iiPerformance ii- iiAnswers ii-Accounting, iimarket, iieconomic

most iivaluable iiwhen iicompared iiagainst iiothers

Balance iiScorecard ii- iiAnswers ii-multiple iiinternal iiand iiexternal iiperformance iimetrics
iiin iiorder iito iibalance iiboth iifinancial iiand iistrategic iigoals.


develop iistrategy iithrough ii4 iikey iiquestions:
how iido iithe iicustomers iiview iius?
how iido iiwe iicreate iivalue?
what iicore iicompetencies iido iiwe iineed?
how iido iishareholders iiview iius?

able iito iiuse iimultiple iiinternal iiand iiexternal iimetrics
great iifor iistrategy iiimplementation, iinot iistrategy iiformulation

advantages:
■ iiCommunicate iiand iilink iithe iistrategic iivision iito iiresponsible iiparties iiwithin iithe
iiorganization.


■ iiTranslate iithe iivision iiinto iimeasureable iioperational iigoals.

■ iiDesign iiand iiplan iibusiness iiprocesses.

■ iiImplement iifeedback iiand iiorganizational iilearning iiin iiorder iito iimodify iiand iiadapt
iistrategic iigoals iiwhen iiindicated.


Triple iiBottom iiLine ii- iiAnswers ii-is iian iiaccounting iiframework iiwith iithree iiparts: iisocial,
iienvironmental ii(or iiecological) iiand iifinancial. ii


company's iiresponsibility iilies iiwith iistakeholders iirather iithan iishareholders

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