Exam (elaborations)
BUAD 453 FINAL EXAM questions with 100% correct answers rated A+
- Course
- Institution
BUAD 453 FINAL EXAM questions with 100% correct answers rated A+
[Show more]
Content preview
BUAD 453 FINAL EXAMStrategy - correct answer ✔✔a set of related actions that managers take to increase their company's
performance
Strategic leadership - correct answer ✔✔creating competitive advantage through effective management
of the strategy-making process.
Strategy formulation - correct answer ✔✔Selecting strategies based on analysis of an organization's
external and internal environment
Strategy implementation - correct answer ✔✔Putting strategies into action
Shareholder Value - correct answer ✔✔Returns that shareholders earn from purchasing shares in a
company
Profitability - correct answer ✔✔The return a company makes on the capital invested in the enterprise
Profit growth - correct answer ✔✔The increase in net profit over time
Competitive advantage - correct answer ✔✔The achieved advantage over rivals when a company's
profitability is greater than the average profitability of firms in its industry
Sustained competitive advantage - correct answer ✔✔The company's strategies enable it to maintain
above-average profitability for a number of years
Business model - correct answer ✔✔The conception of how strategies should work together as a whole
to enable the company to achieve competitive advantage
, General Managers - correct answer ✔✔Managers who bear responsibility for overall performance of the
company or for one of its major, self-contained subunits or divisions
Functional Managers - correct answer ✔✔managers responsible for supervising a particular function;
that is a task, an activity, or an operation such as accounting, marketing, R&D, information technology, or
logistics
Multidivisional company - correct answer ✔✔A company that competes in several different businesses
and has created a separate, self-contained division to manage each.
Business unit - correct answer ✔✔A self-contained division that provides a product or service for a
particular market
Mission - correct answer ✔✔The purpose of the company, or a statement of what the company strives
to do.
Vision - correct answer ✔✔The articulation of a company's desired achievements of future state.
Values - correct answer ✔✔A statement of how employees should conduct themselves and their
business to help achieve the company mission
SWOT Analysis - correct answer ✔✔The comparison of strengths, weaknesses, opportunities, and
threats
Scenario planning - correct answer ✔✔Formulating plans that are based upon "what-if" scenarios about
the future
Escalating commitment - correct answer ✔✔A cognitive bias that occurs when decision makers, have
already committed significant resources to a project, commit even more resources after receiving
feedback that the project is failing
Reasoning by analogy - correct answer ✔✔Use of simple analogies to make sense out of complex
problems
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 BravelRadon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79789 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now