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MAN 3025 EXAM 2 UF Questions with Correct Solutions
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MAN 3025 EXAM 2 UF Questions with Correct Solutions
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MAN 3025 EXAM 2 UFMichael Porter defined _____ as an attempt to achieve sustainable competitive advantage by preserving
what is distinct about a company. - Answer-strategic positioning
Johanna has been asked by the department manager to prepare a SWOT analysis on two of the
company's products. In which step of the strategic management process would a company use a SWOT
analysis? - Answer-current reality assessment
The president, chief financial officer, and chief operating officer of Jensen Mfg. meet annually to discuss
the direction of the company including what products they will continue to offer and what new products
they will introduce. Which level of strategic management does this represent? - Answer-corporate-level
True or false: It is common practice today for most small business owners to engage in strategic
planning. - Answer-False
When other companies cannot duplicate the value provided by a competitor, then the competitor has
established a(n) _____ competitive advantage. - Answer-sustainable
The second step of the strategic management process involves - Answer-assessing the current reality
Corporate-level strategy: (select all that apply) - Answer-involves senior executives in planning
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