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Midterm Moore WPC 470 correctly answered to pass
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Midterm Moore WPC 470 correctly answered to pass
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Midterm Moore WPC 470 correctlyanswered to pass
AFI strategy framework - correct answer ✔✔A model that links three interdependent strategic
management tasks—analyze, formulate, and implement—that, together, help managers plan and
implement a strategy that can improve performance and result in competitive advantage.
competitive advantage - correct answer ✔✔a firm that achieves superior performance relative to other
competitors in the same industry or the industry average
competitive disadvantage - correct answer ✔✔firm underperforms its rivals or the industry average
competitive parity - correct answer ✔✔two or more firms perform at the same level
core values statement - correct answer ✔✔statement of principles to guide an organization as it works
to achieve its vision and fulfill its mission, for both internal conduct and external interactions; it often
includes explicit ethical considerations
mission - correct answer ✔✔Description of what an organization actually does—the products and
services it plans to provide, and the markets in which it will compete.
organizational core values - correct answer ✔✔ethical standards and norms that govern the behavior of
individuals within a firm or organization
strategic commitments - correct answer ✔✔actions that are costly, long-term oriented, and difficult to
reverse
strategy - correct answer ✔✔a plan of action
, sustainable competitive advantage - correct answer ✔✔outperforming competitors or the industry
average over a prolonged period of time
vision - correct answer ✔✔a statement about what an organization ultimately wants to accomplish; it
captures the company's aspiration
Black Swan Events - correct answer ✔✔describes the high impact of a highly improbable event
business level strategy - correct answer ✔✔how to compete. three generic business strategies are
available: cost leadership, differentiation or value innovation
corporate level strategy - correct answer ✔✔where to compete as to industry, markets and geography
Corporate Social Responsibility (CSR) - correct answer ✔✔a framework that helps firms recognize and
address the economic, legal, social, and philanthropic expectations that society has of the business
enterprise at a given point in time
Emergent Strategy - correct answer ✔✔any unplanned strategic initiative bubbling up from the bottom
of the organization
Intended Strategy - correct answer ✔✔the outcome of a rational and structured top-down strategic plan
Realized Strategy - correct answer ✔✔combination of intended and emergent strategy
scenario planning - correct answer ✔✔Strategy-planning activity in which top managers envision
different what-if scenarios to anticipate plausible futures.
Stakeholders - correct answer ✔✔organizations, groups, and individuals that can affect or are affected
by a firm's actions
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