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7 Written questions

6 Multiple choice questions

  1. Set of goals and policies designed to achieve competitive adv in a particular marketplace.
  2. 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
  3. What business are we in? Allocation of resources among business units. Ex. Pepsi Co
  4. Cost Leadership, Differentiation, Focus
  5. Human Resources, Raw Materials, Financial Resources, consumer Mrkts, Technology Sector, Industry Sector, ****Economics and Government Sectors----Most important are the last two. All of this is analyzed by SWOT.
  6. S+W= Strengths and Weaknesses of the Oranization, O+T= opportunities and threats of the Environment. This analysis is to identify sources of Competitive advantage.

6 True/False questions

  1. FocusSet of goals and policies designed to achieve competitive adv in a particular marketplace.

          

  2. DifferentiationUnique Products/ Services/ Delivery Channel... EX... (Toyota quality"residual value", Amazon, Zappos "no shipping", Weber Grills, lexus, Ralph lauren, rolex, Neiman Marcus.)))

          

  3. Environmental Scanningthis is important because each sector this analyzes represent an important segment of the environment that potentially influences the survival and effectivenes of the organization.

          

  4. Functional strategies/ tacticsSpecific to a product, marketing, HR, R&D, operational strategy

          

  5. Strategic MGMT processID the Organization's misson and objectives, Analyze the Environment or Analyze the organizations resources. --->Formulate strategy, Implement strategy, Evaluate and monitor results.

          

  6. Levels of Strategic AnalysisS+W= Strengths and Weaknesses of the Oranization, O+T= opportunities and threats of the Environment. This analysis is to identify sources of Competitive advantage.