Tentamen (uitwerkingen)
SGMA 591 Strategy and Global Management Exam Questions With Verified Answers
- Vak
- Instelling
SGMA 591 Strategy and Global Management Exam Questions With Verified Answers...
[Meer zien]Voorbeeld 3 van de 28 pagina's
Voorbeeld 3 van de 28 pagina's
In winkelwagen
In winkelwagen
gesponsord bericht van onze partner
Verkoper
Volgen
Easton
Ontvangen beoordelingen
Voorbeeld van de inhoud
SGMA 591 Strategy and Global Management ExamQuestions With Verified Answers
Chapter 1 - Answer Concept of strategy
What's the problem with strategy? (2) - Answer - too many corporate executives,
including CEOs cannot summarize their company strategy
- If they can, they are not sure if people throughout the ranks understand it in the same
way they do
Two components of strategy: - Answer - the mission
- the vision
The Mission Statement - Answer A mission statement focuses on today and what an
organization does to achieve its vision
- It is what a Company does, the core of the business
The Vision Statement - Answer Focuses on tomorrow and gives an organization direction
Strategy: - Answer - A firm's competitive game plan that assists the firm in figuring out
how best to get from here to there, or find a path-which may well be unforeseeable-to
realize a vision
The essential elements of a strategy statement: (3) - Answer - Corporate objectives [ends]
- Scope (domain)
- Competitive advantage (means)
,The corporate objective: - Answer - Defines the ends that the strategy is designed to
achieve within a specific time frame
- One clear objective to which the firm shall rally
- SMART: specific, measurable, actionable, realistic, time bound
The scope: - Answer - Is the area of operations, the aspect of the business world in which
your company will operate
Competitive advantage-Answer-The heart of your strategy. it's how you'll be doing what
you want to achieve uniquely/better than competition to reach your goal
Objective? -More specific-Answer-One sharp goal that will guide the company
- SMART: specific, measurable, actionable, realistic, time bound
Objective not? -More specific-Answer- Not the same as mission or vision
- Generic (ex. we want to increase profitability)
What is Scope? (in other words) 4 - Answer Where the firm competes on three
dimensions
- Product scope: extend the product line horizontally
- Vertical scope: extend the firm forward or backward in the value chain
- Geographic scope: extend the firm geographically or globally
+ transparent about where it will not compete
Vertical integration: - Answer - forward: the firm integrates activities closer to the
end-customer (ex. Tesla owns retail stores)
, - reverse: to the side of the maker Tesla battery
What is scope not? - Answer - A clear spelling out of how to do what is to be done in the
specified boundary. In fact, a company's scope invites experimentation and initiative
Restructuring and break-ups: corporate growth through divestitures, splits and spin-offs
- Answer lecture 1 slide 16
divestitures: sale of subsidiary
splits: splitting into two companies
spin off: type of divesture where the spin off company is supposed to be worth more on
it's own than as part of a whole
Two parts of competitive advantage: - Answer - unique activities
- value proposition
Unique activities: - Answer - A description of how internal activities must be aligned so
that only your company can deliver the customer value proposition
Value Proposition-Answer What sets a company apart, and potentially superior to
competition. It is comprised of features and benefits.
Competitive advantage example-Answer Walmart:
-took all the amenities out of department stores
-put fewer sales people out on the floor
-entered into rural towns that were so isolated nobody else would service
-Offered national brands instead of second-tier brands
Unique activities and value proposition example: - Answer - IKEA
How is strategy actually made? (3) - Answer First, intended strategy: carefully thought
out by top management (top down, emphasize commitment)
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper Easton. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €11,76. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 67096 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen
Laatst bekeken door jou
