WGU C432 Healthcare Management and Strategy Study Guide Exam And Correct Answers.

Acquisition - Answer The purchase (or merger) of an existing organization broad differentiation strategy - Answer type of strategy aimed at offering products that consumers perceive to be distinct from competitor's products and that appeal to a wide segment of a market Broad low-cost strategy - Answer type of strategy aimed at providing low-cost products to a broad customer segment Business model - Answer the underlying structure of an organization; the means through which an organization creates and delivers value to its customers and earns revenues Business-level strategy - Answer the strategic scope and direction of strategic business units (SBUs) Strategic business units (SBU) - Answer focus on specific product/service lines while under the umbrella of corporate direction Corporate-level strategy - Answer the overall strategic scope and direction of a corporation. primary function is to allocate capital funds to SBUs and decide which business to enter or exit Customer Value - Answer the perceived benefits of a product or service Diversification - Answer Strategic expansion into different businesses Emergent Strategy - Answer a pattern of actions that develop over time and become an organizations strategy de facto. identified by examining decisions that were made and the patterns that occurred as a result. also called realized strategy First movers - Answer organizations that are the earliest to enter a market or an industry