BSM600 Exams Pack Questions and Correct Answers | Latest Update | A+

3 aspects that go into Successful strategy, and what kind of implementation. Ans: 1. Simple consistent long-term goals 2. Profound understanding of the competitive environment 3. Objective appraisal of resources What focus gets "rate of return above cost of capital" to Corporate Strategy? Ans...

Acquisition Ans: The purchase of another company, or its assets Adjacent Market Ans: A market or industry that is closely related to markets or industries a firm currently competes in Business Model Ans: A method to enable the creation and exchange of value between companies and their custo...

Why does internal analysis matter? Ans: Determine if resources and capabilities are sources of competitive advantage, regular internal analysis facilitates ongoing performance evaluation. Strengths of internal analysis Ans: Talented workforce, strategic partnerships and customer loyalty etc. W...

Task Specialization Ans: Breaking a large process into smaller tasks that require specialized knowledge Business Strategy Ans: A company's dynamic plan to gain, and sustain, competitive advantage Competitive Advantage Ans: When a firm generates consistently higher profits compared to its compe...

Business Strategy Ans: A plan to achieve competitive advantage through strategic choices in markets, unique value, and resources Competitive Advantage Ans: When a firm consistently generates higher profits compared to its competitors Markets Ans: The industry, customer segment, or geographic ...

Strategy Ans: A plan to gain and sustain competitive advantage Importance of strategic management Ans: - Makes a difference in how well a business performs - Helps managers cope with uncertainty - Helps people focus on the ways and direction to achieve goals Competitive advantage Ans: Opera...

2 perspectives on strategy Ans: The external (from industrial economics) Internal (Resource-based view) Determining the right landscape Ans: Landscape is defined by: 1. Industry in which firm competes 2. The product and geographic markets within that industry that the firm targets External an...