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SEVI 3013 Exam 1 | 90 Questions with 100% Correct Answers | Verified | Latest Update 2024
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SEVI 3013 Exam 1 | 90 Questions with 100% Correct Answers | Verified | Latest Update 2024
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SEVI 3013 Exam 1 | 90 Questions with 100%Correct Answers | Verified | Latest Update
2024
suggests that returns are influenced more so by the characteristics of the external
environment than a firm's unique internal resources and capabilities.
Risk - ✔✔Degree of uncertainty of return on an asset; in business, the
likelihood of loss or reduced profit.
how firms can earn above-average returns - ✔✔through the
strategic management process
A-S-P model - ✔✔A firm analyzes the external environment and its internal
organization, then formulates and implements strategies to achieve a desired
level of performance.
,*WITHIN THE STRATEGIC MANAGEMENT PROCESS*
Stakeholders - ✔✔individuals, groups, and organizations that can affect the
firm's vision and mission, are affected by the strategic outcomes achieved, and
have enforceable claims on the firm's performance
Stakeholders ability to influence organizations - ✔✔Because firms are not equally
dependent on all stakeholders at all times, stakeholders possess different degrees
of ability to influence an organization.
Greater dependence gives the stakeholder more potential influence over a
firm's commitments, decisions, and actions
shareholders - ✔✔individuals and groups who have invested capital in a firm
in the expectation of earning a positive return on their investments.
, 3 Stakeholder Groups - ✔✔-Capital Market Stakeholders (shareholders &
major suppliers)
-Product Market Stakeholders (customers)
-Organizational Stakeholders (employees)
General Environment - ✔✔composed of dimensions in the broader society
that influence an industry and the firms within it
Seven Environmental Segments and examples - ✔✔demographic - population size
economic- inflation rates
political/legal- antitrust laws
sociocultural- women in the workforce
technological- product innovation
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