MAN 4720 exam 1 Questions and Answers Already Verified

MAN 4720 exam 1 Questions and Answers Already Verified A firm has achieved ______ when it successfully formulates and implements a valuecreating strategy. strategic competitiveness A competitive advantage: can be identified when competitors are unable to duplicate or find it too costly to try to imitate. Above-average returns are; returns in excess of what an investor expects to earn from other investments with a similar level of risk . The strategic management process is the formulation and implementation of a full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness. According to Hitt, the primary drivers of hypercompetition are: the emergence of a global economy and rapid technological change. All of the following are characteristics of the global economy EXCEPT: the increased use of tariffs to protect industries. Essentially, _______ has become one of the world's largest markets with 700 million potential consumers. the European Union