7 Written questions
6 Multiple choice questions
- Corporate Strategy, Business Unit Strategy, Functional strategy/tactics
- Having the ability to transform inputs into goods and services at a maximum profit on a sustained basis better than one's competitors. You want to be in imperfect competition
- What business are we in? Allocation of resources among business units. Ex. Pepsi Co
- Explains the essence of an organization-- why it exists, what it wants to be, who serves it, and why it should continue. contains:purpose, value, place in the world.
- Future objectives, current strategy, assumptions, capabilities.
- Selling your product at lower cost, High volume sales. Perceived value (price vs quality) EX...(State University, Jet Blue, Kia, Old Navy, TImex))
6 True/False questions
Stuck in the Middle → Set of goals and policies designed to achieve competitive adv in a particular marketplace.
Focus → Unique Product within a semented niche.. Particular product, end-user, or geography.. EX.. Rolls Royce, Ferrari, High end Golf courses, Tag Hauer, Edward Jones))
Business Unit Strategy → What business are we in? Allocation of resources among business units. Ex. Pepsi Co
Strategic MGMT process → ID the Organization's misson and objectives, Analyze the Environment or Analyze the organizations resources. --->Formulate strategy, Implement strategy, Evaluate and monitor results.
Functional strategies/ tactics → Specific to a product, marketing, HR, R&D, operational strategy
Environmental Scanning → this is important because each sector this analyzes represent an important segment of the environment that potentially influences the survival and effectivenes of the organization.