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MAN 3025 exam 2 FGCU UPDATED Actual Exam Questions and CORRECT Answers $9.99
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MAN 3025 exam 2 FGCU UPDATED Actual Exam Questions and CORRECT Answers
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MAN 3025 exam 2 FGCU UPDATED Actual Exam Questions and CORRECT Answers Strategic Positioning/ Sustainable Competitive Advantage - CORRECT ANSWER- Strategic Management - CORRECT ANSWER- a process that involves managers from all parts of the organization in the formulation and the implementa...

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  • September 22, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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MAN 3025 exam 2 FGCU UPDATED
Actual Exam Questions and CORRECT
Answers
Strategic Positioning/ Sustainable Competitive Advantage - CORRECT ANSWER- ✔✔



Strategic Management - CORRECT ANSWER- ✔✔a process that involves managers from
all parts of the organization in the formulation and the implementation of strategies and
strategic goals


Strategic Analysis - CORRECT ANSWER- ✔✔the process of analyzing the organization, the
environment, and the organization's competitive position and current strategies


strategy formulation - CORRECT ANSWER- ✔✔the process of choosing among different
strategies and altering them to best fit the organization's needs


the five steps of the strategic-management process - CORRECT ANSWER- ✔✔



Mission Statement - CORRECT ANSWER- ✔✔a statement of the organization's purpose -
what it wants to accomplish in the larger environment


Vision Statement - CORRECT ANSWER- ✔✔expresses what the organization should
become, where it wants to go strategically


competitive intelligence - CORRECT ANSWER- ✔✔gaining information about one's
competitors' activities so that you can anticipate their moves and react appropriately


SWOT analysis - CORRECT ANSWER- ✔✔strengths, weaknesses, opportunities, threats



Forecasting - CORRECT ANSWER- ✔✔the attempts to determine the supply of and demand
for various types of human resources to predict areas within the organization where there will
be labor shortages or surpluses

, trend analysis - CORRECT ANSWER- ✔✔constructing and applying statistical models that
predict labor demand for the next year, given relatively objective statistics from the previous
year


Benchmarking - CORRECT ANSWER- ✔✔a process by which a company compares its
performance with that of high-performing organizations


Porter's Five Forces - CORRECT ANSWER- ✔✔threat of entry, threat of substitute, supplier
power, buyer power, and competitive rivalry


Three Common Grand Strategies - CORRECT ANSWER- ✔✔1. growth strategy
2. stability strategy
3. defensive strategy


Porter's Four Competitive Strategies - CORRECT ANSWER- ✔✔1. cost-leadership
2. differentiation
3. cost-focus
4. focused-differentiation


single-product strategy - CORRECT ANSWER- ✔✔a company makes and sells only one
product within its market


diversification strategy - CORRECT ANSWER- ✔✔a growth strategy whereby a firm
introduces a new product or service to a market segment that it does not currently serve


related and unrelated diversification - CORRECT ANSWER- ✔✔



BCG Matrix - CORRECT ANSWER- ✔✔a means of evaluating strategic business units on
the basis of (1) their business growth rates and (2) their share of the market

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