Exam (elaborations)
BPL 5100 Practice QUIZ 1 | Questions And Answers Latest {} A+ Graded | 100% Verified
- Course
- Institution
BPL 5100 Practice QUIZ 1 | Questions And Answers Latest {} A+ Graded | 100% Verified
[Show more]
Content preview
BPL 5100 Practice QUIZ 1 | Questions And Answers Latest {2024- 2025} A+ Graded |100% Verified
Two Perspectives of Leadership - External Control Perspective and Romantic View
External Control Perspective - External forces determine the organization's success (economic
downturns)
Romantic View - Leader is the key force in organization's success
Strategic Management - The analysis, decisions, and actions of a business that have the goal of creating
sustainable competitive advantages.
Analysis - • Strategic goals (vision, mission, strategic objectives)
• Internal and external environment
Decisions - Formulation - • What industries should we compete in?
• How should we compete in those industries?
Actions - Implementation of strategy - • Allocate necessary resources
• Design the organization to bring intended strategies to reality
Strategy - The ideas, decisions, and actions that enable a firm to succeed.
Competitive Advantage - A firm's resources and capabilities that enable it to overcome the competitive
forces in its industry(ies).
Operational Effectiveness - Performing similar activities better than rivals
, Stakeholders - Individuals, groups, and organizations that have a stake in the success of the organization.
• These include owners (shareholders in a publicly held corporation), employees, customers, suppliers,
and the community at large.
Effectiveness - Tailoring actions to the needs of an organization rather than wasting effort, or "doing the
right thing."
Efficiency - Performing actions at a low cost relative to a benchmark, or "doing things right."
Ambidexterity - The challenge managers face of both aligning resources to take advantage of existing
product markets as well as proactively exploring new opportunities
Intended Strategy - Strategy in which organizational decisions are determined only by analysis.
Realized Strategy - Strategy in which organizational decisions are determined by both analysis and
unforeseen environmental developments, unanticipated resource constraints, and/or changes in
managerial preferences
Strategy Analysis - Study of firms' external and internal environments, and their fit with organizational
vision and goals
Strategy formulation - Decisions made by firms regarding investments, commitments, and other aspects
of operations that create and sustain competitive advantage.
Strategy implementation - Actions made by firms that carry out the formulated strategy, including
strategic controls, organizational design, and leadership.
Corporate Governance - The relationship among various participants in determining the direction and
performance of corporations.
The primary participants are
(1) the shareholders
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller oneclass. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.48. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73314 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now