MAN 320f Test 2 Exam Questions and Answers 100% Pass | Graded A+
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Course
MAN 320f
Institution
MAN 320f
MAN 320f Test 2 Exam Questions and
Answers 100% Pass | Graded A+
what has led to accelerated communization? - Info on products and
prices is becoming immediately available; when brands become smaller,
people buy on price
Which two types of markets will disappear as technology and globalization...
what is the most important factor when deciding whether to invest in a
company or not? - ✔✔market opportunity
what are the 5 characteristics of red vs blue oceans? - ✔✔1. compete in
existing market vs compete in uncontested market
2. beat the competition v make the competition irrelevant
3. exploit existing demand v create and capture new demand
4. make the value-cost tradeoff v break the value-cost tradeoff
5. align the whole system of a firms activities with its strategic choice of
differentiation or low cost v align the whole system of a firms activities in
pursuit of differentiation and low cost
why is cirque de soleil considered a blue ocean company? - ✔✔falls into its
own industry (not entirely theater or circus) and competes with no one
what does the winning strategic approach involve? - ✔✔value innovation
(reduce the cost AND increase value for buyers)
how can you break the value-cost tradeoff? - ✔✔add value and reduce cost
by enhancing a limited set of key factors and reducing or eliminating all
other 'traditional' factors
, why is toyota the market leader in hybrid cars today? - ✔✔they were the
1st to introduce a commercial hybrid car in 1997, they recognized the use
of natural resources was increasing
what is a strategy? - ✔✔a long term plan for success
what 3 factors is strategy concerned with? - ✔✔1. deciding what business
an organization should be in
2.where it wants to be
3. how its going to get there
strategic management is the process through which organizations: -
✔✔1.analyze and learn from stakeholders inside and outside the
organization
2.establish strategic direction
3.create strategies that are intended to help achieve established goals
4.execute those strategies
5. all in an effort to satisfy key organizational stakeholders
what are the 3 key levels of strategic analysis? - ✔✔1. the organization
2. the task environment
3. the broad environment
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