BUSI 490

BUS 490 Test 1Which of these could be an example of a competitive advantage? a. The status of a company with the largest top line sales number in an industry b. A solid company with predictable sales and profitability every year, delivering predictability for its shareholders c. A start-up company with an innovative new product that changes an industry d. The ability of a firm to outperform its rivals by achieving greater profitability and growth than others in the industry - correct answer ...

bus 490 final examwhat are resources? - correct answer a competitive asset that is owned and controlled by the firm What are tangible resources? - correct answer assets that can be observed and quantified what are the four tangible resources? - correct answer Financial resources, technological assets, physical resources, organizational resources What are intangible resources? - correct answer assets that are rooted deeply in the firm's history, accumulate over time, and are relatively ...

BUSI 490 Key Points (Chapter 2)Understand the importance of developing forecasts of the business environment - correct answer Managers must analyze the external environment to minimize threats and exploit opportunities. Effective managers proactively anticipate and detect early warning signs, which may represent key threats or opportunities to their business model Explain why environmental scanning, environmental monitoring, and collecting competitive intelligence are critical inputs to forec...

BUSI 490 - Chapter 2: The Business Vision and MissionConcern for employees (p. 49) - correct answer A component of the mission statement; are employees a valuable asset to the firm? Concern for public image (p. 49) - correct answer A component of the mission statement; is the firm responsive to social, community, and environmental concerns? Concern for survival, growth, and profitability (p. 49) - correct answer A component of the mission statement; does the firm strive to survive, grow, a...

BUSI 490: Strategic Management - Chapter 10Bribe - correct answer A gift bestowed to influence a recipient's conduct; may be money, good, right in action, property, preferment, privilege, emolument, object of value, advantage, or merely a promises or undertaking to induce or influence the action, vote, or influence of a person in an official or public capacity. Bribery - correct answer The offering, giving, receiving, or soliciting of any item of value to influence the actions of an official...

BUSI 490 IP and technology strategyTRX takeaways - correct answer Technology: the TRX technology is simple and extremely easy to copy. This sharpens the need for an aggressive IP acquisition and enforcement strategy Economics: the amazon platform coupled with Chinese manufacturing adds additional complexity to the completive landscape by removing frictions that would normally deter competition Law: the best approach to building IP portfolio is to layer in different types of IP, starting as ear...

BUSI 490 - Chapter 8: Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS IssuesBook value (p. 268) - correct answer The number of shares outstanding times stock price. Business analytics (p. 272) - correct answer An MIS technique designed to analyze huge volumes of data to help executives make decisions; sometimes called predictive analytics or data mining. Cash budget (p. 264) - correct answer The most common type of financial budget; developed to forecast future receipt...

BUSI 490 Final Exam (ch. 1)Key attributes of Strategic Management - correct answer -Directs the organization toward overall goals and objectives -Includes multiple stakeholders in decision making -Needs to incorporate short-term and long-term perspectives -Recognizes trade-offs between efficiency and effectiveness Romantic view of leadership - correct answer Situations in which the leader is the key force in determining the organization's success or lack thereof External control view o...

BUSI 490 Chapter 12 Innovation - correct answer - involves using new knowledge to transform organizational processes or create commercially viable products and services Product Innovation - correct answer refers to new or better products or services Process Innovation - correct answer - by contrast, is typically associated with improving the efficiency of an organizational process, especially manufacturing systems and operations Radical Innovation - correct answer - produce fundamental...