7 Written questions
6 Multiple choice questions
- Set of goals and policies designed to achieve competitive adv in a particular marketplace.
- Unique Products/ Services/ Delivery Channel... EX... (Toyota quality"residual value", Amazon, Zappos "no shipping", Weber Grills, lexus, Ralph lauren, rolex, Neiman Marcus.)))
- Future objectives, current strategy, assumptions, capabilities.
- ID the Organization's misson and objectives, Analyze the Environment or Analyze the organizations resources. --->Formulate strategy, Implement strategy, Evaluate and monitor results.
- 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
- 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.
6 True/False questions
Corporate Strategy → What business are we in? Allocation of resources among business units. Ex. Pepsi Co
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))
Functional strategies/ tactics → 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.
Cost Leadership → Selling your product at lower cost, High volume sales. Perceived value (price vs quality) EX...(State University, Jet Blue, Kia, Old Navy, TImex))
Levels of Strategic Analysis → Future objectives, current strategy, assumptions, capabilities.
Three Grand Strategies → Cost Leadership, Differentiation, Focus