Exam (elaborations)
BUS 475 EXAM 1 ,2 AND FINAL EXAM BUNDLE LATEST ACTUAL QUESTIONS AND CORRECT DETAILED ANSWERS
- Course
- Institution
- Book
BUS 475 EXAM 1 ,2 AND FINAL EXAM BUNDLE LATEST ACTUAL QUESTIONS AND CORRECT DETAILED ANSWERS
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
BUS 475 EXAM 1 ,2 AND FINAL EXAM BUNDLE LATEST ACTUAL QUESTIONS AND CORRECT DETAILED ANSWERS
-
BUSINESS AND MANAGEMENT – MANAGEMENT AND ACCOUNTING INFORMATION 2024
-
PART ONE: AMERICAN BUSINESS TODAY (CHAPTER TWO: ETHICS AND SOCIAL RESPONSIBILITY)
Seller
Follow
tutorsection009
Content preview
BUS 475 EXAM 1 ,2 AND FINAL EXAM BUNDLE LATEST ACTUALQUESTIONS AND CORRECT DETAILED ANSWERS
Distinguishing strategy from tactics:
_________ is the overall plan for deploying resources to establish a favorable
position. ___________ is a scheme for a specific maneuver. - ANSWER: Strategy
Tactic
Characteristics of strategic decisions:
__________
Involve a significant commitment of ___________
Not easily ___________ - ANSWER: Important
Resources
Reversible
What makes a successful strategy?
________-term, simple and agreed ___________
Profound understanding of the competitive ___________
Objective appraisal of __________ - ANSWER: Long-term, objectives
Environment
Resources
Strategy as decision support: improve the quality of ___________ _________ -
ANSWER: Decision making
Strategy as coordination and communication: creates __________ and ________ -
ANSWER: Consistency
Unity
Strategy as target: improve performance by setting high ________________ -
ANSWER: Aspirations
What is more important than strategy? - ANSWER: Company culture
Strategy as design: planning and rational ___________ - ANSWER: Choice
Strategy as process: many decision makers responding to multitude of
____________ and ___________ forces - ANSWER: External
Internal
True or false: strategy as design is an intended strategy - ANSWER: True
True or false: strategy as process is an emergent strategy - ANSWER: True
Mintzberg critique of formal strategic planning:
, The fallacy of prediction - the future is ___________
The fallacy of detachment - impossible to divorce ___________ from
________________
The fallacy of formalization - it inhibits ____________, ____________, ___________
and __________ - ANSWER: Unknown
Formulation , implementation
Flexibility, spontaneity, intuition, learning, and
____________ is important to the success of individuals and organizations -
ANSWER: Strategy
True or false: successful strategies embody clear goals, fit with the external
environment and internal resources, and sound implementation - ANSWER: True
The framework for strategy analysis: strategy as a link between the _______ and it's
_____________ - ANSWER: Firm
Environment
Strategy describes __________ a firm is competing, _______ it is competing, and the
______________ in which it is developing - ANSWER: Where
How
Direction
Why do firms need strategy? Strategy allows firms to make better and more
consistent _____________ facilitates _____________ - ANSWER: Decisions
Coordination
How is strategy made? Through combining purposeful planning ( __________
________ ) and flexible responses to changing circumstances ( ______________ ) -
ANSWER: Rational design
Emergence
True or false: strategies should be simple - ANSWER: True
Every business has a unique __________, often reflecting the motives of the founder
- ANSWER: Purpose
The desire/need to create ___________ is common to every business enterprise -
ANSWER: Value
Monetary worth of a product is ________. The purpose of the business is to create
value for ___________ and to appropriate some of that value in the form of
__________ in order to ensure survival of the firm - ANSWER: Value
Customers
Profit
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 tutorsection009. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75619 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now