Cr 42 - Study guides, Class notes & Summaries

operational effectiveness correct answers -performing similar activities (that go into creating, producing, selling, and delivering a product/service) better than rivals perform them -includes but is not limited to efficiency problem with op effectiveness from a competitive standpoint correct answers best practices are easily emulated productivity frontier correct answers the max value a company can deliver at a given cost, given the best available tech, skills, and management technique...

Strategic Competitiveness correct answers is achieved when a firm successfully formulates and implements a value creating strategy strategy correct answers is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage above average returns correct answers are returns in excess of what an investor expects to earn from other investments with a similar amount of risk risk correct answers is an investors uncertainty ab...

What is corporate strategy? correct answers A decision about what business/industries a firm should be in Do all firms (even single-line ones) have a corporate strategy? correct answers YES! The decision to NOT engage in certain industries is an important decision Competition occurs at the _____ level correct answers business-unit Being part of a diversified company involves inevitable _____ for business units that are _____ correct answers costs; often underestimated Coprorate strat...

ATI PN PHARMACOLOGY PROCTORED EXAM A nurse is administering subcutaneous heparin to a client who is at risk for deep vein thrombosis. Which of the following actions should the nurse take? 1. Administer the medication into the client's abdomen. 2. Inject the medication into a muscle. 3. Massage the site after administering the medication. 4. Use a 22-gauge needle to administer the medication. A nurse is providing teaching to a client who has a urinary tract infection and new ...

Mintzberg - "Crafting Strategy" correct answers -Equates the process of strategy making to the process of making pottery. -strategies are patterns that are put into action over time; but strategies may emerge in a different direction than tradition has previously held -strategy making must be a deliberate process; thought must precede action. But "strategies can form as well as be formulated" -strategies can emerge any time and at any place; errors themselves may become chances for opport...

Strategy correct answers Integrated and coordinated set of commitment and actions designed to exploit core competencies and gain a competitive advantage Competitive advantage correct answers An advantage that creates superior value for customers and which competitors are not able to replicate easily Value stick correct answers - WTP of consumer - Price - Cost - Opportunity cost of resource Consumer surplus? Firm surplus? Supplier surplus? correct answers Consumer surplus = difference...

What is strategic vision and its success components? correct answers Vision: is an enduring picture of what the firm wants to be an expects to achieve in the future. Successful visions: stretches and challenges its people, reflects the firm's values, and is most effective when its development includes all stakeholders What is strategic mission and its success components? correct answers Mission: is a concrete, near-term focus on current product markets and customers Successful missions: sp...

Strategic Management correct answers An organization's set of commitments and actions intended to create superior value. Strategy correct answers Is the path needed to get from Point A (where we are today) to Point B (where we want to be). Involves long-term thinking. OR Integrated and coordinated set of actions designed to create a sustainable advantage over competitors. Involves long-term thinking. Tactics correct answers Steps along the way within strategic planning. Differe...

Strategy correct answers an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage Core Competencies correct answers unique capabilities of a firm that service as a source of competitive advantage for a firm over its rivals. Strategic competitiveness correct answers achieved when a firm successfully formulates and implements a value-creating strategy Competitive advantage correct answers achieved when a firm's cu...