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MGT 499 - Strategic Management Mid Term Review(Correct answers) £9.45
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Exam (elaborations)

MGT 499 - Strategic Management Mid Term Review(Correct answers)

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  • Module
  • MGT 499
  • Institution
  • MGT 499

What is Strategy? correct answers A plan yo achieve a goal. In business a set of decisions in order to outperform competition and achieve greater financial results. S.M.A.R.T. correct answers S. pecific M easurable A ttainable R ealistic T ime-dependent Unique Value Proposition co...

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  • January 7, 2025
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 499
  • MGT 499
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MGT 499 - Strategic Management Mid Term
Review(Correct answers)
What is Strategy? correct answers A plan yo achieve a goal. In business a set of decisions in order to
outperform competition and achieve greater financial results.


S.M.A.R.T. correct answers S. pecific


M easurable


A ttainable


R ealistic


T ime-dependent


Unique Value Proposition correct answers Why a customer would choose a specific firm. What the
customer values.


PESTEL correct answers Political


Economic


Socio-culture


Technological


Environment


Legal

, Political (Pestel) correct answers Fiscal, taxes, business friendly?


Economic (pEstel) correct answers Unemployment rate, deficit? surplus?


Socio-culture (peStel) correct answers Values & lifestyle.


Technological (pesTel) correct answers Disruptive technology that is upending industries.


Ennvioenment (pestEl) correct answers Natrual disasters, snow, drought, hurricane, tornado.


Legal (pesteL) correct answers Regulations and laws surrounding industry.


Industries with HIGH regulation:


Airliners
Financial Services
Petroleum and Coal Manufacturing


5 Competitive Forces correct answers i) Competitive Rivalry


ii) Possible New Entrants


iii) Threat of Substitutes


iv) Power of Suppliers


v) Power of Buyers


5 Generic Competitive Strategies correct answers i) Low-Cost Provider

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