Bmgt 301 - Study guides, Class notes & Summaries

BMGT 301 EXAM 1 UMD Questions And Answers 2024

BMGT 301 EXAM 1 UMD SOLVED 100% CORRECT!!

Economies of scale correct answers When costs can be spread across increasing units of production or in serving multiple customers. Businesses that have favorable economies of scale (like many Internet firms) are sometimes referred to as being highly scalable Porter's 5 Forces correct answers Also known as Industry and Competitive Analysis. A framework considering the interplay between (1) the intensity of rivalry among existing competitors, (2) the threat of new entrants, (3) the threat of ...

BMGT 301 Final Exam Rated 100% Correct Answers

big data - Answer-the massive amount of data available to today's managers that is often unstructured, too big and too costly to work through with conventional databases amount of data being created... - Answer-doubles every 2 years data-driven decision making leads to - Answer-5% more productivity and 6% more profitability data-driven, fact-based decision making is enabled by - Answer-standardized corporate data and access to rich, third-party data sets business intelligence - An...

Sustainable Competitive Advantage - Answer-Financial performance that consistently outperforms industry averages Operational Effectiveness - Answer-Performing the same tasks better than rivals perform them. Fast Follower Exists when? - Answer-1. Savvy rivals watch a pioneer's efforts 2. Learn from their successes and missteps 3. Then enter the market quickly with a comparable or superior product at a lower cost 4. Before the first mover can dominate. Strategic Positioning - Answer-...

Operational Effectiveness - Answer-performing the same tasks better than rivals perform them Strategic positioning - Answer-performing different tasks than your rivals, or performing the same tasks in a different way Competitive advantage - Answer-The ability for a firm to outperform its competitors in financial measures Sustainable competitive advantage - Answer-A factor or set of factors can lead to sustainable advantage if VRIS (valuable, rare, cannot imitate, and hard to substitute)...

strategy - Answer-a set of decisions made to achieve a competitive advantage competitive advantage - Answer-the ability of a firm to outperform its competitors in financial measures - can be measured with accounting profits or stock price operational effectiveness - Answer-performing the same tasks better than rivals do -lower cost strategic planning - Answer-performing different tasks than your rivals or performing the same tasks in a different way -higher value/revenue straddlin...

Summarized and Simplified Notes for BMGT 301 EXAM 1 Complete for your Revision Rated A

Operational Effectiveness performing the same tasks better than rivals perform them Strategic positioning performing different tasks than your rivals, or performing the same tasks in a different way Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More Competitive advantage The ability for a firm to outperform its competitors in financial measures Sustainable competitive advantage A factor or set of...