BSM600 FINAL EXAM Questions and Correct Answers | Latest Update| A+

BSM600 FINAL EXAM Questions an
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d Correct Answers | Latest Update
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Strategy

Ans:F AFplanFtoFgainFandFsustainFcompetitiveFadvantage




ImportanceFofFstrategicFmanagement

Ans:F -FMakesFaFdifferenceFinFhowFwellFaFbusinessFperforms

- HelpsFmanagersFcopeFwithFuncertainty

- HelpsFpeopleFfocusFonFtheFwaysFandFdirectionFtoFachieveFgoals




CompetitiveFadvantage

Ans:F OperatingFwithFanFattributeForFsetFofFattributesFthatFallowsFanForganizationFtoFoutperform

itsFrivals




SustainableFcompetitiveFadvantage

Ans:F OneFthatFisFdifficultFforFcompetitorsFtoFimitate




ToFcreateFmoreFvalueFthanFcompetitors...

,Ans:F TheFfirmFmustFhaveFuniqueFresourcesFand/orFcapabilities




SuccessfulFstrategies

Ans:F 1)FWhereFtoFcompete

2) HowFtoFofferFuniqueFvalue

3) WhatFresourcesForFcapabilitiesFareFnecessary

4) HowFtoFsustainFaFcompetitiveFadvantageFonceFitFhasFbeenFachieved




StrategicFsweetFspot

Ans:F TheFpointFatFwhichFaFcompanyFisFableFtoFeffectivelyFmeetFtheFneedsFofFitsFcustomersFinFa

wayFthatFitsFcompetitorsFcannot




StrategyFprocess

Ans:F TheFprocessFbyFwhichForganizationsFformulateFaFplanFandFallocateFresourcesFtoFachieve

competitiveFadvantage




StrategyFprocessFinvolvesFmakingFfourFstrategicFchoices:

Ans:F 1)FMarketsFtoFcompeteFin

2) UniqueFvalueFtheFfirmFwillFofferFinFthoseFmarkets

3) TheFresourcesFandFcapabilitiesFrequiredFtoFofferFthatFuniqueFvalueFbetterFthanFcompetitors

,4) WaysFtoFsustainFtheFadvantageFbyFpreventingFimitation




StrategicFmanagementFprocess:FstepF1

Ans:F IdentifyFtheForganization'sFcurrentFmission,Fobjectives,FandFstrategies




StrategicFmanagementFprocess:FstepF2

Ans:F ConductFanFinternalFanalysis




StrategicFmanagementFprocess:FstepF3

Ans:F ConductFanFexternalFanalysis




StrategicFmanagementFprocess:FstepF4

Ans:F FormulateFstrategies




StrategicFmanagementFprocess:FstepF5

Ans:F ImplementFstrategies




StrategicFmanagementFprocess:FstepF6

Ans:F EvaluateFresults

, SWOTFanalysis

Ans:F IdentifIESFtheFpositivesFandFnegativesFinsideFyourForganizationFandFoutsideFofFitFinFthe

externalFenvironment




Mission

Ans:F AFcompany'sFprimaryFpurposeFthatFoftenFspecifiesFtheFbusinessForFbusinessesFinFwhich

theFfirmFintendsFtoFcompete-ForFtheFcustomersFitFintendsFtoFserve




ExternalFanalysisFinvolves...

Ans:F 1)FAnFexaminationFofFtheFcompetitionFandFtheFforcesFthatFshapeFindustryFcompetition

andFprofitability

2)FCustomerFanalysisFtoFunderstandFwhatFcustomersFreallyFwant




InternalFanalysisFinvolves...

Ans:F 1)FAnFanalysisFofFtheFcompany'sFsetFofFresourcesFandFcapabilitiesFthatFcanFbe

deployed—ForFshouldFbeFdeveloped-FtoFdeliverFuniqueFvalueFtoFcustomers




CostFadvantage

Ans:F AnFadvantageFthatFaFfirmFhasFoverFitsFcompetitorsFinFtheFactivitiesFassociatedFwith

producingFaFproductForFservice,FtherebyFallowingFitFtoFproduceFtheFsameFproductFatFaFlower

cost