Exam (elaborations)
Exam (elaborations) Strategic Management
- Course
- Institution
ENTAILS QUESTIONS AND ANSWERS
[Show more]
Content preview
Test Bank for Strategic Management ACompetitive Advantage Approach,
Concepts and Cases (Global Edition)
16th Edition By Fred David, Forest David
(All Chapters, 100% Original Verified, A+
Grade)
, Five parts of strategy - CORRECT ANSWERS-Arenas-which businesses is the firm
going to market/compete in? vehicles-how they get market entry (investment, loans,
partner), differentiation-high quality, low price,
Staging-sequencing and timing of investments,
Economic logic-how profits will be generated above the cost of capital
Competitive advantage - CORRECT ANSWERS-resources and capabilities that enable
an organization to overcome the competitive forces in an industry
Strategy analysis - CORRECT ANSWERS-Study of firms' external and internal
environments, and their fit with organizational vision and goals
Strategy formulation - CORRECT ANSWERS-Decisions made by firms regarding
investments, commitments, and other aspects of operations that create and sustain
competitive advantage.
Strategy implementation - CORRECT ANSWERS-Actions made by firms that carry out
the formulated strategy, including strategic controls, organizational design, and
leadership
Stakeholder - CORRECT ANSWERS-Individuals, groups, and organizations that have a
stake in the success of the organization, including owners, employees, customers,
suppliers, and the community at large.
Triple bottom line - CORRECT ANSWERS-Assessment of a firm's financial, social, and
environmental performance
Organizational vision - CORRECT ANSWERS-Organizational goals that evoke powerful
and compelling mental vision
Mission statement - CORRECT ANSWERS-A set of organizational goals that includes
the purpose of the organization, its scope of operations, and the basis of its competitive
advantage
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 ndungwamonicah600. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now