MAN 4720 UCF Capstone Midterm || Acknowledged Answers
100%.
Competitive Advantage correct answers Generating above average returns. Measured relative to
other firms. Should rely on a more holistic perspective vs. just using one metric.
Strategic Analysis framework correct answers AFI
Strategy correct answers quest to gain and sustain competitive advantage over
Companies correct answers array of activities
vision statement correct answers paints a picture of where a company wants to be
Balanced Scorecard correct answers harnesses multiple internal and external performance
metrics in order to balance both financial and strategic goals. USED IN IMPLEMENTATION
PHASE
strategic management correct answers an integrative management field that combines analysis,
formulation, and implementation in the quest for competitive advantages
competitive disadvantage correct answers under performance relative to other competitors in the
same industry or industry average
competitive parity correct answers performance of two or more firms at the same level
sustainable competitive advantage correct answers outperforming competitors or the industry
over a prolonged period
, co-opetition correct answers cooperation by competitors to achieve a strategic objective
firm effects correct answers results of mangers actions to influence firm performance
industry effects correct answers the results attributed to the choice of industry in which to
compete
strategic business unit (SBU) correct answers a standalone division of a larger conglomerate,
with its own profit and loss responsibility
business model correct answers organizational plan that details the firms competitive tactics and
initiatives; how the firm intends to make money
bottom of the pyramid correct answers the largest but poorest socioeconomic group of the
world's population
externalities correct answers side-effects of production and consumption that are not reflected in
the price of a product.
crowdsourcing correct answers process in which people voluntarily performs tasks they were
traditionally completed by a firms employees
Stakeholders correct answers Individuals or groups who can affect or are affected by the action
of a firm.
A.F.I. correct answers 1.) Analyze
2.) Formulate
3.) Implement
100%.
Competitive Advantage correct answers Generating above average returns. Measured relative to
other firms. Should rely on a more holistic perspective vs. just using one metric.
Strategic Analysis framework correct answers AFI
Strategy correct answers quest to gain and sustain competitive advantage over
Companies correct answers array of activities
vision statement correct answers paints a picture of where a company wants to be
Balanced Scorecard correct answers harnesses multiple internal and external performance
metrics in order to balance both financial and strategic goals. USED IN IMPLEMENTATION
PHASE
strategic management correct answers an integrative management field that combines analysis,
formulation, and implementation in the quest for competitive advantages
competitive disadvantage correct answers under performance relative to other competitors in the
same industry or industry average
competitive parity correct answers performance of two or more firms at the same level
sustainable competitive advantage correct answers outperforming competitors or the industry
over a prolonged period
, co-opetition correct answers cooperation by competitors to achieve a strategic objective
firm effects correct answers results of mangers actions to influence firm performance
industry effects correct answers the results attributed to the choice of industry in which to
compete
strategic business unit (SBU) correct answers a standalone division of a larger conglomerate,
with its own profit and loss responsibility
business model correct answers organizational plan that details the firms competitive tactics and
initiatives; how the firm intends to make money
bottom of the pyramid correct answers the largest but poorest socioeconomic group of the
world's population
externalities correct answers side-effects of production and consumption that are not reflected in
the price of a product.
crowdsourcing correct answers process in which people voluntarily performs tasks they were
traditionally completed by a firms employees
Stakeholders correct answers Individuals or groups who can affect or are affected by the action
of a firm.
A.F.I. correct answers 1.) Analyze
2.) Formulate
3.) Implement
