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SGMA 591 Chapter 7 Questions With Accurate Answers
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SGMA 591 Chapter 7 Questions With Accurate AnswersWhat is Corporate Strategy? - Answer Where a company is going to compete
What is Business Strategy? - Answer How will you compete and how will you win
- Competitive advantage (Strat positioning)
What is a scope of a firm? - Answer Identifying who we are as a firm
What is product scope (Horizontal Scope)? - Answer Having multiple products selling in
the firm with profit Narrow vs Unnarrowed
What is geographic scope? - Answer When focusing on a specfic area to sell (Narrow vs
Unnarrowed)
Forward vs. backward integration - Answer The range of vertically linked activities the
firm encompasses
What is diversification? - Answer the expansion of an existing firm into another product
line or field of operation (Horizontal vs vertical)
What does diversification allow managers to do? - Answer Organize complex and
confusing phenomena in ways to highlight their most meaningful differences
What is Scale? - Answer Need high market share, the more you build a product the less it
cost increasing market share
What is Backward vertical integration? - Answer Firm acquires ownership and control
over the production of tis own inputs
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