Opportunities correct answers elements and conditions in a company's environment that allow it to formulate and implement strategies that enable it to become more profitable
Threats correct answers elements in the external environment that could endanger the integrity and profitability of the co...
MGT 499 Exam 1(with Errorless answers)
Opportunities correct answers elements and conditions in a company's environment that allow it to
formulate and implement strategies that enable it to become more profitable
Threats correct answers elements in the external environment that could endanger the integrity and
profitability of the company's business
Industry correct answers a group of companies offering products or services that are close substitutes for
each other
Potential Competitors correct answers companies that are currently not competing in the industry but
have the potential to do so
Economies of Scale correct answers reductions in unit cost attributed to large output
Brand Loyalty correct answers preference of consumers for the products of established companies
Absolute Cost Advantage correct answers a cost advantage that is enjoyed by incumbents in an industry
and that new entrants cannot expect to match
Switching Costs correct answers costs that consumers must bear to switch from the products offered by
one established company to the products offered by a new entrant
Distinctive Competencies correct answers firm-specific strengths that allow a company to differentiate its
products and/or achieve substantially lower costs to achieve a competitive advantage
Resources correct answers assets of a company
Process Knowledge correct answers knowledge of the internal rules, routines, and procedures of an
organization that managers can leverage to achieve organizational objectives
Socially Complex correct answers something that is characterized by, or is the outcome of, the interaction
of multiple individuals
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