BCOR 2304 Questions and Correct Answers/ Latest Update / Already Graded

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BCOR 2304 Questions and Correct
Answers/ Latest Update / Already Graded
Strategy

Ans: An integrated set of choices about where to play and how
to win to gain a competitive advantage


Sustainable Competitive Advantage

Ans: When a firm outperforms competitors or the industry
average over a long period of time


Proactive Strategy

Ans: Planned and deliberate actions taken to improve company
performance


Reactive Strategy

Ans: Actions taken in response to unexpected changes in the
market


Realized Strategy




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Ans: The strategy that actually occurs combining proactive and
reactive elements


Entrepreneurship

Ans: The process of taking economic risk to innovate and
exploit opportunities


Innovation

Ans: A product service business model or strategy that is both
new and useful


Vision

Ans: A statement describing a company's long term purpose
and aspiration


Mission

Ans: A statement describing what a company does and how it
accomplishes its vision


Values



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