UNT BUSI 4940 EXAM 1 (SBI Process steps 1-3) UPDATED ACTUAL Questions and CORRECT Answers
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Course
UNT BUSI 4940
Institution
UNT BUSI 4940
UNT BUSI 4940 EXAM 1 (SBI Process
steps 1-3) UPDATED ACTUAL Questions
and CORRECT Answers
When are organizational actions more Strategic than others? - CORRECT ANSWER- -They
involve MAJOR INVESTMENTS
-They have LONG-TERM IMPLICATIONS often IN MULTIPLE AREAS
- The involve HIGH LEVELS OF RI...
UNT BUSI 4940 EXAM 1 (SBI Process
steps 1-3) UPDATED ACTUAL Questions
and CORRECT Answers
When are organizational actions more Strategic than others? - CORRECT ANSWER- -They
involve MAJOR INVESTMENTS
-They have LONG-TERM IMPLICATIONS often IN MULTIPLE AREAS
- The involve HIGH LEVELS OF RISK/UNCERTAINTY
What actions are deemed "strategic for the organization as a whole? - CORRECT ANSWER-
- Altering the product/services offered by the organization
-Altering the markets serviced by the organization
-Altering the way, the organization creates value for its customers
Criterion of Consistency - CORRECT ANSWER- The link between a firms strategy, its
environment, and its internal capabilities "Fit"
"Managers optimize firms performance and shareholder wealth by optimizing the Criterion of
Consistency"
Overview Part 1 of SBI Process - CORRECT ANSWER- - Analyze the Environment and the
status of the firm
- Deconstruct and understanding the firm and its environment
Overview Part 2 SBI Process - CORRECT ANSWER- -Assess Strategic Fit and Formulate
new strategy
Overview Part 3 SBI Process - CORRECT ANSWER- - Develop and implementation plan
and confirm financial viability of the proposal
,What are two questions we must answer in SBI Part 1-A? - CORRECT ANSWER- Analyze
the environment to answer:
1.) WHAT we're going to achieve and
2.) HOW we're going to achieve it
Three outputs of an Environmental Analysis
(Part 1-a) - CORRECT ANSWER- 1.) Identify Key Drivers of Change (DOC's)
2.) Key Survival Factors (KSF) for any firm in that environement
3.) Overall attractiveness of the environment for future investment
Drivers of Change (DOC's) - CORRECT ANSWER- Forces at play in the environment of
firm's specific industry (e.g. the automotive, fast food, or airline industry)
DOC's forces do what? - CORRECT ANSWER- 1.) Determine how firms currently operate
and compete in that industry
2.) Shape how firms operate and compete in that industry in the future
DOC examples - CORRECT ANSWER- -Changing buyer preference
-Product, service, market innovation
-technology diffusion
- changes in cost and efficiency
Key Survival Factors (KSF) - CORRECT ANSWER- "Must haves". These are areas where
ANY FIRM, in an industry sector, must demonstrate competencies in order to survive
- NOT the same as Key success factors
Overall Attractiveness of the Environment for future investment (two ways) - CORRECT
ANSWER- 1.) FINANCIAL Attractiveness
2.) MARKET Attractiveness
, Financial Attractiveness Factors - CORRECT ANSWER- - Industry Profitability
-Level of investment
-Risk
-A tool used to collect data on the "BROAD ENVIRONMENT"
5-Forces Analysis - CORRECT ANSWER- -Threat of New Entrants
-Power of Buyers
-Power of suppliers
-Threat of Substitutes
-Competitive rivalry
- Tool used to collect data on the "COMPETITIVE ENVIRONMENT"
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