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GEB 4890 Final - Part 1 questions with correct answers
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GEB 4890 Final - Part 1 questions with correct answers
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GEB 4890 Final - Part 1 questions with correctanswers
Strategy Correct Answer-The coordinated set of actions that its
managers take in order to outperform the company's competitors and
achieve superior profitability.
Competitive Advantage Correct Answer-Advantage over competitors
gained by offering consumers greater value, either by means of lower
prices or by providing greater benefits and service that justifies higher
prices
Strategic Advantage Correct Answer-Refers to those marketplace
benefits that exert a decisive influence on an organization's likelihood of
future success. Frequently are sources of an organization's current and
future success relative to other providers of similar products
Business strategy Correct Answer-Primarily concerned with
strengthening the company's market position and building competitive
advantage in a single-business company or in a single business unit of a
diversified multi-business corporation
Business model Correct Answer-Sets forth the logic for how its strategy
will create value for customers and at the same time generate revenues
sufficient to cover costs and realize a profit
Two Elements of a Business Model Correct Answer-- Customer value
proposition
, - Profit formula
Vision Correct Answer-where you want to be in the future
Mission Correct Answer-describes what you are here to do
Objectives Correct Answer-how you're going to reach your goals
Financial objectives Correct Answer-Targets expressed in money terms
such as making a profit, earning income or building wealth.
Obligations of an investor-owned company's board of directors Correct
Answer-- Oversee accounting and make sure they comply with the
GAAP
- Evaluate senior executives and their leadership skills
- Create a compensation plan that rewards top executives for actions and
results that serve stakeholder and shareholder interests
Porter's Five Forces Model Correct Answer-1) The threat of new
entrants
2) Threat of substitutes
3) Bargaining power of suppliers
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