MGT 449 EXAM 1 LATEST UPDATE REAL QUESTIONS AND
VERIFIED ANSWERS |100% CORRECT | ALREADY GRADED
A
Strategy Ans✓✓✓ A set of goal-directed actions a firm takes to gain and
sustain superior performance relative to competitors
Competitive Advantage Ans✓✓✓ A firm that achieves superior
performance relative to other competitors in the same industry or the
industry average
Sustainable Competitive Advantage Ans✓✓✓ A firm that is able to
outperform its competitors or the industry average over a prolonged
period of time
Competitor Disadvantage Ans✓✓✓ If a firm underperforms its rival or
the industry average
Competitive Parity Ans✓✓✓ Should two or more levels perform at the
same level
Industry Effects Ans✓✓✓ Describe the underlying economic structure
of the industry
Firm Effects Ans✓✓✓ Attribute firm performance to the actions
managers take
, Black Swan Events Ans✓✓✓ Eroeded the public's trust in business as
an institution and capitalism as an economic system
Stakeholders Ans✓✓✓ Organizations, groups, and individuals that can
affect or be affected by a firm's actions
Stakeholder Strategy Ans✓✓✓ An integrative approach to managing a
diverse set of stakeholders effectively in order to gain and sustain
competitive advantage
Stakeholder impact analysis Ans✓✓✓ Provides a decision tool with
which managers can recognize, prioritize, and address the needs of
different stakeholders
Corporate Social Responsibility Ans✓✓✓ Helps firms recognize and
address the economic, legal, ethical, and philanthropic expectations that
society has of the business enterprise at a given point in time
AFI Strategy Framework Ans✓✓✓ This framework explains and
predicts differences in firm performance and helps managers formulate
and implement a strategy that results in superior performance
Strategic management Process Ans✓✓✓ The method put in place by
strategic leaders to conceive and implant a strategy
VERIFIED ANSWERS |100% CORRECT | ALREADY GRADED
A
Strategy Ans✓✓✓ A set of goal-directed actions a firm takes to gain and
sustain superior performance relative to competitors
Competitive Advantage Ans✓✓✓ A firm that achieves superior
performance relative to other competitors in the same industry or the
industry average
Sustainable Competitive Advantage Ans✓✓✓ A firm that is able to
outperform its competitors or the industry average over a prolonged
period of time
Competitor Disadvantage Ans✓✓✓ If a firm underperforms its rival or
the industry average
Competitive Parity Ans✓✓✓ Should two or more levels perform at the
same level
Industry Effects Ans✓✓✓ Describe the underlying economic structure
of the industry
Firm Effects Ans✓✓✓ Attribute firm performance to the actions
managers take
, Black Swan Events Ans✓✓✓ Eroeded the public's trust in business as
an institution and capitalism as an economic system
Stakeholders Ans✓✓✓ Organizations, groups, and individuals that can
affect or be affected by a firm's actions
Stakeholder Strategy Ans✓✓✓ An integrative approach to managing a
diverse set of stakeholders effectively in order to gain and sustain
competitive advantage
Stakeholder impact analysis Ans✓✓✓ Provides a decision tool with
which managers can recognize, prioritize, and address the needs of
different stakeholders
Corporate Social Responsibility Ans✓✓✓ Helps firms recognize and
address the economic, legal, ethical, and philanthropic expectations that
society has of the business enterprise at a given point in time
AFI Strategy Framework Ans✓✓✓ This framework explains and
predicts differences in firm performance and helps managers formulate
and implement a strategy that results in superior performance
Strategic management Process Ans✓✓✓ The method put in place by
strategic leaders to conceive and implant a strategy
