SEVI 3013 Exam 1 Rodeffer Questions & Answers 100% Correct!!
3 views 0 purchase
Course
SEVI 3013 Rodeffer
Institution
SEVI 3013 Rodeffer
Strategic management 3 steps - ANSWERSanalysis, decisions, actions
Strategy - ANSWERSthe ideas, decisions, and actions that enable a firm to succeed
Strategy characteristics - ANSWERSit is about choices and is focused on the future
Strategic management 3 steps key activities performed - AN...
Attributes of strategic management - ANSWERS-Directs the organization toward overall
goals and objectives.
-Includes multiple stakeholders in decision making.
-Needs to incorporate short-term and long-term perspectives.
-Recognizes trade-offs between efficiency and effectiveness.
ambidexterity - ANSWERSthe challenge managers face of both aligning resources to
take advantage of existing product markets as well as proactively exploring new
opportunities
Strategic Leadership - ANSWERSthe ability to anticipate, envision, maintain flexibility,
think strategically, and work with others to initiate changes that will create a positive
future for an organization
How do leaders make a difference for organizational performance? - ANSWERScreate
value for stakeholders, nurture and develop talent, champion the strategic management
process, develop and leverage external relationships, cultivate a global mindset, drive
competitive advantage
Romantic View of Leadership - ANSWERSLeader is the key force in organization's
success
external control view of leadership - ANSWERSsituations in which external forces -
where the leader has limited influence - determine the organization's success
How to create competitive advantage - ANSWERScost leadership and differentiation
How to maintain competitive advantage - ANSWERS- Barriers to entry
- Barriers to exit
Intended Strategy - ANSWERSstrategy in which organizational decisions are
determined only by analysis
Realized Strategy - ANSWERSstrategy in which organizational decisions are
determined by both analysis and unforeseen environmental developments,
unanticipated resource constraints, and/or changes in managerial preferences
Vision - ANSWERSevokes powerful and compelling mental images of a shared future
Mission - ANSWERSencompasses the organizations current purpose, bases of
competition, and competitive advantage
Strategic objectives - ANSWERSa set of organizational goals that are used to
operationalize the mission statement and that are specific and cover a well-defined time
frame
Mission Statement - ANSWERSencompasses both the purpose of the company and the
basis of competition and competitive advantage
corporate level strategy - ANSWERSspecifies actions a firm takes to gain a competitive
advantage by selecting and managing a group of different businesses competing in
different product markets
business level strategy - ANSWERSa plan that indicates how a division intends to
compete against its rivals in an industry
shareholder - ANSWERSA person who invests in a corporation by buying stock and is a
partial owner
Stakeholders - ANSWERSthe people whose interests are affected by an organization's
activities
Key Players in Corporate Governance - ANSWERSBoard of directors, CEO, senior
executives, and shareholders
board of directors - ANSWERSa group of persons elected by the stockholders to
manage a corporation
CEO - ANSWERSchief executive officer
senior executive - ANSWERSsenior manager
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 papersmaster01. 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.
