Exam (elaborations)
BUAD 453 FINAL EXAM QUESTIONS AND ACCURATE ANSWERS
- Course
- Institution
BUAD 453 FINAL EXAM QUESTIONS AND ACCURATE ANSWERS...
[Show more]
Content preview
BUAD 453 FINAL EXAM QUESTIONS AND ACCURATE ANSWERSStrategy ANSWER a set of related actions that managers take to improve their firm's
performance
Strategic leadership ANSWER generating competitive advantage through the effective
management of the strategy-making process.
Strategy formulation ANSWER choosing strategies after analyzing an organization's
external and internal environment
Strategy implementation ANSWER putting strategy into action
Shareholder Value ANSWER Returns that shareholders make from buying shares in a
company
Profitability - ANSWER The return a company makes on the capital invested in the
enterprise
Profit growth - ANSWER The increase in net profit over time
Competitive advantage - ANSWER The achieved advantage over rivals when a
company's profitability is greater than the average profitability of firms in its industry
Sustained competitive advantage - ANSWER The company's strategies enable it to
maintain above-average profitability for a number of years
Business model - ANSWER The conception of how strategies should work together as a
whole to enable the company to achieve competitive advantage
, General Managers - ANSWER Managers who bear responsibility for overall performance
of the company or for one of its major, self-contained subunits or divisions
Functional Managers - ANSWER managers responsible for supervising a particular
function; that is a task, an activity, or an operation such as accounting, marketing, R&D,
information technology, or logistics
Multidivisional company - ANSWER A company that competes in several different
businesses and has created a separate, self-contained division to manage each.
Business unit - ANSWER A self-contained division that provides a product or service for
a particular market
Mission - ANSWER The purpose of the company, or a statement of what the company
strives to do.
Vision - ANSWER The articulation of a company's desired achievements of future state.
Values - ANSWER A statement of how employees should conduct themselves and their
business to help achieve the company mission
SWOT Analysis - ANSWER The comparison of strengths, weaknesses, opportunities,
and threats
Scenario planning - ANSWER Formulating plans that are based upon "what-if" scenarios
about the future
Escalating commitment - ANSWER A cognitive bias that occurs when decision makers,
have already committed significant resources to a project, commit even more resources
after receiving feedback that the project is failing
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 Stetson. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83750 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now