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WGU QGT1 Capstone Business Plan Latest Update 2024 with complete solution
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WGU QGT1 Capstone Business Plan Latest Update 2024 with complete solution
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WGU QGT1 Capstone Business Plan LatestUpdate 2024 with complete solution
Scientific Management - --ANSWER---focuses on
applying superior principles over superior employees
Strategic Management - --ANSWER---helps answer why
some firms outperform others
To many, planning IS... - --ANSWER---strategy
Early management focused on... - --ANSWER---
developing good policies
Today's competitive environment focuses on... - --
ANSWER---multiple strategies, rather than one "single
best way"
,3 Factors that influence firm performance - --ANSWER--
--Industry Membership
-Unique Organizational Resources
-Decision Making Ability of CEO, Top Management, etc.
Industry Membership - --ANSWER----Factor that
influences firm performance
-Most important environmental condition
-Structural approach largely focuses on industry structure
= attractiveness of external environment, not firm
-AKA "Structure-Conduct-Performance"
Unique Organizational Resources - --ANSWER----Factor
that influences firm performance
-Resource-based model
Resource-Based Model - --ANSWER---suggests that
above-average returns for any firm is largely determined
by unique internal characteristics of the firm
, Organizational Culture - --ANSWER---set of ideologies,
strategies, and core values shared throughout firm and
influences business conduct
Lifecycle of Strategies - --ANSWER---Intended -->
Emergent --> Realized
Intended Strategy - --ANSWER----Company started
selling something, then switched
-Wrigley's gum started as soap & baking powder
Firm has sustained competitive advantage when... - --
ANSWER---other firms try to copy their strategy
Vision - --ANSWER---what organization hopes to
become in future and company aspirations
Mission Statement - --ANSWER---what business the
organization is in and what they hope to accomplish by
being in it
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