MAN 3025 EXAM 2 FGCU COMPREHENSIVE
TEST PAPER 2026 QUESTIONS AND
CORRECT ANSWERS GRADED A+
●● BCG Matrix.
Answer: is a corporate planning tool, which is used to portray firm's
brand portfolio or SBUs on a quadrant along relative market share axis
(horizontal axis) and speed of market growth (vertical axis) axis
●● Benchmarking.
Answer: a process by which a company compares its performance with
that of high-performing organizations
●● Blue Ocean Strategy.
Answer: An approach where firms seek to create and compete in
uncontested "blue ocean" market spaces, rather than competing in spaces
and ways that have attracted many, similar rivals.
●● Competitive intelligence.
Answer: gaining information about one's competitors' activities so that
you can anticipate their moves and react appropriately
●● Contingency planning.
,Answer: Planning for unexpected events, usually involving a range of
scenarios and assumptions that differ from the assumptions behind the
core plans.
●● Cost-focus strategy.
Answer: keep the costs of a product below those of competitors and to
target a narrow market
●● Cost leadership strategy.
Answer: keep the costs, and hence prices, of a product or service below
those of competitors and to target a wide market
●● Current reality assessment.
Answer: to look at where the organization stands and see what is
working and what could be different so as to maximize efficiency and
effectiveness in achieving the organization's mission
●● Defensive strategy.
Answer: a social responsiveness strategy in which a company admits
responsibility for a problem but does the least required to meet societal
expectations
●● Differentiation strategy.
,Answer: Distinguishing an organization's products from the products of
competitors on dimensions such as product design, quality, or after-sales
service.
●● Diversification.
Answer: a strategy of increasing sales by introducing new products into
new markets
●● Environmental scanning.
Answer: collection and interpretation of information about forces,
events, and relationships in the external environment that may affect the
future of the organization or the implementation of the marketing plan
●● Execution.
Answer: the way something is done
●● Focused differentiation strategy.
Answer: same as the differentiation strategy except with a narrow focus
on a niche market
●● Forecast.
Answer: to predict
●● Grand strategy.
, Answer: a broad corporate-level strategic plan used to achieve strategic
goals and guide the strategic alternatives that managers of individual
businesses or subunits may use
●● Growth strategy.
Answer: a strategy that focuses on increasing profits, revenues, market
share, or the number of places in which the company does business
●● Innovation strategy.
Answer: a strategy that emphasizes the introduction of major new
products and services
●● Organizational opportunities.
Answer: environmental factors that the organization may exploit for
competitive advantage
●● Organizational strengths.
Answer: skills and capabilities that give the organization special
competencies and competitive advantages in executing strategies in
pursuit of its mission
●● Organizational threats.
Answer: environmental factors that hinder an organization's achieving a
competitive advantage
TEST PAPER 2026 QUESTIONS AND
CORRECT ANSWERS GRADED A+
●● BCG Matrix.
Answer: is a corporate planning tool, which is used to portray firm's
brand portfolio or SBUs on a quadrant along relative market share axis
(horizontal axis) and speed of market growth (vertical axis) axis
●● Benchmarking.
Answer: a process by which a company compares its performance with
that of high-performing organizations
●● Blue Ocean Strategy.
Answer: An approach where firms seek to create and compete in
uncontested "blue ocean" market spaces, rather than competing in spaces
and ways that have attracted many, similar rivals.
●● Competitive intelligence.
Answer: gaining information about one's competitors' activities so that
you can anticipate their moves and react appropriately
●● Contingency planning.
,Answer: Planning for unexpected events, usually involving a range of
scenarios and assumptions that differ from the assumptions behind the
core plans.
●● Cost-focus strategy.
Answer: keep the costs of a product below those of competitors and to
target a narrow market
●● Cost leadership strategy.
Answer: keep the costs, and hence prices, of a product or service below
those of competitors and to target a wide market
●● Current reality assessment.
Answer: to look at where the organization stands and see what is
working and what could be different so as to maximize efficiency and
effectiveness in achieving the organization's mission
●● Defensive strategy.
Answer: a social responsiveness strategy in which a company admits
responsibility for a problem but does the least required to meet societal
expectations
●● Differentiation strategy.
,Answer: Distinguishing an organization's products from the products of
competitors on dimensions such as product design, quality, or after-sales
service.
●● Diversification.
Answer: a strategy of increasing sales by introducing new products into
new markets
●● Environmental scanning.
Answer: collection and interpretation of information about forces,
events, and relationships in the external environment that may affect the
future of the organization or the implementation of the marketing plan
●● Execution.
Answer: the way something is done
●● Focused differentiation strategy.
Answer: same as the differentiation strategy except with a narrow focus
on a niche market
●● Forecast.
Answer: to predict
●● Grand strategy.
, Answer: a broad corporate-level strategic plan used to achieve strategic
goals and guide the strategic alternatives that managers of individual
businesses or subunits may use
●● Growth strategy.
Answer: a strategy that focuses on increasing profits, revenues, market
share, or the number of places in which the company does business
●● Innovation strategy.
Answer: a strategy that emphasizes the introduction of major new
products and services
●● Organizational opportunities.
Answer: environmental factors that the organization may exploit for
competitive advantage
●● Organizational strengths.
Answer: skills and capabilities that give the organization special
competencies and competitive advantages in executing strategies in
pursuit of its mission
●● Organizational threats.
Answer: environmental factors that hinder an organization's achieving a
competitive advantage
