Technological trends - Study guides, Class notes & Summaries

Strategy correct answers set of goal-directed actions a firm takes to gain and sustain competitive advantage 3 elements: Analysis (diagnosis of competitive advantage), Formulation (guiding policy to address competitive challenge), Implementation (set of coherent actions to implement firm's guiding policy) Competitive Advantage correct answers superior performance relative to other competitors in the same industry or the industry average Sustainable competitive advantage correct answer...

MIE 201 Test #1 - Environments of Business - correct answer - economic - market - technological - social - legal and regulatory market environment - correct answer - a company's target customers, the buying influences that shape the behavior of those customers, and competitors that market similar products to those customers economic environment - correct answer - conditions and forces that affect the cost and availability of goods, services, and labor and thereby shape the behavior ...

An employee whose mind is a critical asset to employers and who adds to the intellectual capital of an organization is called a(n) correct answers Knowledge worker The ability to use technology and commitment to stay informed on the latest technological developments is called correct answers Tech IQ The composition of a workforce in terms of. differences among people on gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness is called workforce: correct answers dive...

MIE 480 Exam 1 Questions and Answers Already Passed What is "Strategy"? Strategy is a set of actions to achieve company objectives. It's a high- level plan on how to achieve objectives (often related to profitability). Company profitability is significantly determined by the: Industry structure; Firm competitive advantage (where we stand relative to other firms) Strategic choice: A strategic choice has a basic structure - 1. Identify the objective or goal. 2. Formulate the alt...

MIE 201 Test 1 Questions with Verified Answers ___ is the money a company generates through the sale of products and services revenue A(n) _______ is a firm pursing profits that offers products and services projected to fulfill consumers' needs. business The framework that outlines how a firm plans to generate revenue is known as a(n) ____________. business model In a business, after all expenses are paid, the leftover money is called ___________. profit Company LMT competes...

Strategy - CORRECT ANSWER A plan designed to meet the objectives of a company 5 P's of Mitzberg's view on strategy - CORRECT ANSWER Plan - set of actions. Ploy - short term strategy,few objectives,subject to change. Pattern - consistent behavior. Position - customer needs and comp en strategic view. Perspective - organizations way of doing things Successful strategy key components - CORRECT ANSWER Aimed at specific long-term goals of org. Shows clear understa...

Business model correct answers how an organization interacts with its environment to define a unique strategy, build capabilities and create value for all stakeholders. when was the computer invented? correct answers 1940 when was the printing press and letter invented? correct answers 1440, and BC 600 what are the components of the business model? correct answers strategy, capabilities, values what are the concept of the business model? correct answers organizing framework what a...

Certification - Answer person has met predetermined standards, this usually requires certain educational requirements and passing a professional examination Licensure - Answer a person whom has been granted permission to legally perform certain acts, licenses are granted by government agencies. The specific occupations that require licensure vary from state to state Registration - Answer being placed on an official list after meeting the educational requirements and testing requir...

BCOR EXAM QUESTIONS WITH ALL CORRECT ANSWERS Why is employee involvement crucial when developing an inspiring vision and mission? - Answer-because: -belief in the vision and mission statement motivates employees -employees may develop helpful strategic initiatives Corporate strategy - Answer-concerns questions relating to where to compete in terms of industry, markets, and geography If parts of a firm's intended strategy fall by the wayside, it is referred to as - Answer-unrealize...

MGT 103 - [Eberhard] Exam Questions and Answers 100% Pass Marketing - to discover the needs and wants of prospective customers and to satisfy them A want is a need that is shaped by....? - a person's knowledge, culture, and personality What's needed for marketing to occur? - Two or more parties with unsatisfied needs A desire + ability on their part to have their needs satisfied A way for the parties to communicate Something to exchange Marketing seeks to discover consumer needs th...