MAN 3025 FGCU TERM THREE EXAM 2 QUESTIONS WITH ANSWERS 2024
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MAN 3025 FGCU TERM THREE
Institution
MAN 3025 FGCU TERM THREE
MAN 3025 FGCU TERM THREE EXAM 2 QUESTIONS WITH ANSWERS 2024MAN 3025 FGCU TERM THREE EXAM 2 QUESTIONS WITH ANSWERS 2024MAN 3025 FGCU TERM THREE EXAM 2 QUESTIONS WITH ANSWERS 2024MAN 3025 FGCU TERM THREE EXAM 2 QUESTIONS WITH ANSWERS 2024MAN 3025 FGCU TERM THREE EXAM 2 QUESTIONS WITH ANSWERS 2024MAN ...
MAN 3025 FGCU TERM THREE
EXAM 2 QUESTIONS WITH
ANSWERS 2024
strategic positioning - CORRECT ANSWER>>>>attempts to achieve sustainable
competitive advantage by preserving what is distinctive about a company
sustainable competitive advantage - CORRECT ANSWER>>>>an advantage that
cannot be copied by the competition
Strategic Management - CORRECT ANSWER>>>>a process that involves managers
from all parts of the organization in the formulation and the implementation of
strategies and strategic goals
Strategic Analysis - CORRECT ANSWER>>>>the process of analyzing the
organization, the environment, and the organization's competitive position and
current strategies
strategy formulation - CORRECT ANSWER>>>>the process of choosing among
different strategies and altering them to best fit the organization's needs
Strategic Management Process - CORRECT ANSWER>>>>1. identify strategic
position
2.gather people and info
3.perform a swot analysis
4. formulate strategic plan
5.execute plan
6. constantly monitor performance
Mission Statement - CORRECT ANSWER>>>>a statement of the organization's
purpose - what it wants to accomplish in the larger environment
Vision Statement - CORRECT ANSWER>>>>expresses what the organization
should become, where it wants to go strategically
competitive intelligence - CORRECT ANSWER>>>>the process of gathering
information about the competitive environment, including competitors' plans,
activities, and products, to improve a company's ability to succeed
SWOT analysis - CORRECT ANSWER>>>>a planning tool used to analyze an
organization's strengths, weaknesses, opportunities, and threats
, Forecasting - CORRECT ANSWER>>>>the attempts to determine the supply of and
demand for various types of human resources to predict areas within the
organization where there will be labor shortages or surpluses
trend analysis - CORRECT ANSWER>>>>the process of comparing business data
over time to identify any consistent results or trends.
Benchmarking - CORRECT ANSWER>>>>a process by which a company compares
its performance with that of high-performing organizations
Porter's Five Forces - CORRECT ANSWER>>>>threat of entry, threat of substitute,
supplier power, buyer power, and competitive rivalry
Three Overall Types of Corporate Strategy - CORRECT ANSWER>>>>1. growth
strategy
2. stability strategy
3. defensive strategy
diversification strategy - CORRECT ANSWER>>>>a growth strategy whereby a firm
introduces a new product or service to a market segment that it does not
currently serve
related diversification - CORRECT ANSWER>>>>a growth strategy whereby the
current target market and/or marketing mix shares something in common with the
new opportunity
unrelated diversification - CORRECT ANSWER>>>>a growth strategy whereby a
new business lacks any common elements with the present business
BCG Matrix - CORRECT ANSWER>>>>a means of evaluating strategic business
units on the basis of (1) their business growth rates and (2) their share of the
market
Implementing strategy - CORRECT ANSWER>>>>Allocate resources and
responsibilities to achieve strategies
strategic control - CORRECT ANSWER>>>>monitoring performance to ensure that
strategic plans are being implemented and taking corrective action as needed
Three Core Processes of Business - CORRECT ANSWER>>>>People - consider who
will benefit you in the future
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