SEVI 3013 Exam 1 Questions & Answers 100% Correct!!
4 views 0 purchase
Course
SEVI 3013
Institution
SEVI 3013
What is strategy and what are its characteristics? - ANSWERS
What are the three steps of strategic management? What key activities are performed at each step of the process? - ANSWERS- Analysis: Strategic goals (vision, mission, objectives)
- Decisions: Formulation
- Actions: Implementation of...
SEVI 3013 Exam 1 Questions & Answers
100% Correct!!
What is strategy and what are its characteristics? - ANSWERS
What are the three steps of strategic management? What key activities are performed
at each step of the process? - ANSWERS- Analysis: Strategic goals (vision, mission,
objectives)
- Decisions: Formulation
- Actions: Implementation of strategy
What are the attributes of strategic management? What is the concept of ambidexterity?
- ANSWERS- Direct the organization toward goals/objectives
- Include stakeholders in decision making
- Incorporate short and long term perspectives
- Recognize trade offs between efficiency and effectiveness
Ambidextrous:
- Focus on long-term effectiveness
- Expand market scope by exploring new opportunities
- Focus on short-term efficiency
- Align resources to take advantage of existing markets
What is strategic leadership? What is the difference of romantic view vs. external control
perspectives? - ANSWERSStrategic leadership is the ability to influence others to
voluntarily make decisions that enhance the prospects for the organization's long-term
success while maintaining short-term financial stability
- Romantic view: A leader is the key force of the organizations success
- External control perspective: External forces determine the organizations success
How do leaders make a difference for organizational performance? - ANSWERS- Be
proactive (anticipate change)
- Refine Strategies continually
- Be aware of external opportunities and threats
- Understand thoroughly the firm's resources and capabilities
- Make strategic management both a process and a way of thinking throughout the
organizations
How do you create and maintain competitive advantage? - ANSWERS
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.
