BUSI 400/690 Liberty University
Exam Verified Guide to Fresh
Inquiries (Reliable and Confirmed)
Feng Shui - answer The practice of harnessing natural forces
Global Strategy - answer Includes designing, producing, and marketing products with global
needs in mind, instead of considering individual countries alone.
Globalization - answer Process of doing business worldwide, so strategic decisions are made
based on global profitability of the firm rather than just domestic considerations.
Guanxi - answer China. Personal relations
International Firms - answer Organizations that conduct business operations across national
boarders.
Inhwa - answer South Korea. Harmony based in respect of hierarchical relationships,
including obedience to authority.
Multinational Corporations - answer Organizations that conduct business operations across
national boarders.
Nemaswashio - answer Japan. Workers expect supervisors to alert them privately of changes
rather than informing them in a meeting.
Protectionism - answer Countries imposing tariffs, taxes,and regulations on firms outside the
country to favor their own companies and people.
Wa - answer Japan. Group harmony and social cohesion.
Bribe - answer Gift bestowed to influence a recipient's conduct
Bribery - answer Offering, giving, receiving, or soliciting of any item of value to influence
the actions of an official of other person in discharge of a public or legal duty.
Code of Business Ethics - answer ...
Environment - answer Surroundings in which an organization operates, including air, water,
,land, natural resources, flora, fauna, and their interrelation.
Environmental Management System - answer ...
ISO 14000 - answer Refers to a series of voluntary standards in the environmental field.
ISO 14001 - answer Set of standards adopted by thousands of firms worldwide to certify to
their constituencies that they are conducting business in and environmentally friendly manner.
Social Policy - answer Concerns what responsibilities the firm has to employees,c consumers,
environmentalists, minorities, communities, shareholders, and other groups.
Social Responsibility - answer ...
Sustainability - answer ...
Whistle-Blowing - answer ....
Business Ethics - answer ...
Annual Objectives - answer short term milestones that orgs must achieve to reach long term
objectives. Measurable, quantitative, challenging, realistic, consistent, and prioritized
Competitive Advantage - answer what a firm does well compared to rivals. Less fixed assets
than rivals in recession.
Empowerment - answer the act of strengthening the employees sense of effectiveness by
encouraging them to participate in decision making and to exercising initiative and imagination
and rewarding them for doing so
Environmental Scanning - answer conducting research & gathering info assimilating external
info
External Opportunities - answer economic, social, cultural, demographic, environmental,
political, legal, governmental, technological & competitive trends that could sig benefit an org in
the future
External Threats - answer economic, social, cultural, demographic, environmental, political,
legal, governmental, technological & competitive trends that could sig harm an org in the future
Internal Strengths - answer controllable activities that are performed especially well
Internal weaknesses - answer controllable activities that are performed especially poorly
Intuition - answer essential to making good strategic decisions. Useful for making decisions
, in situations of uncertainty or little precedent, interrelated variables, choosing from several
alternatives.
Long-range planning - answer optimize trends of today for tomorrow
Long-term objectives - answer specific results they seek to achieve in pursuing basic mission
over more than one year
Mission statements - answer statements of purpose that distinguish a company
Policies - answer means by which annual objectives will be achieved
Retreats - answer off campus meetings to discuss and update firm
Strategic Management - answer formulating, implementing, & evaluating cross-functional
decisions that enable an organization to achieve its objectives. Focuses on integrating mgt,
marketing, finance, acct, prod/operations, r & d, and inf sys to achieve org success
SM Model - answer strategy formulation, implementation, evaluation
SM Process - answer consists of strategy formulation, implementation & evaluation
Strat Planning - answer refers only to strategy formulation sometimes. Synonymous with strat
mgt
Strategies - answer means by which l-t objectives will be achieved
Strategists - answer responsible for success or failure of organization. CEO, pres, owner,
chair of board, exec director, chancellor, dean, entrepreneur. All must be "chief learning officers"
Strategy Evaluation - answer final stage. Primary means for obtaining info on success of
strats. Reviewing factors, measuring performance, taking corrective actions.
Strat Formulation - answer developing a vision & mission, IDing an org's external
opportunities & threats, determining internal strengths & weaknesses, est l-t obj, generating alt
strategies, & choosing strategies to pursue. Commits an org to specifics over extended period of
time.
Strat implementation - answer requires firm to est annual objectves, devise policies, motivate
employees, and allocate resources to execute strategies. "Action stage." Most difficult. Requires
personal discipline, commitment, & sacrifice.
Sustained comp. advantage - answer continually adapt to changes in ext trends, effectively
Exam Verified Guide to Fresh
Inquiries (Reliable and Confirmed)
Feng Shui - answer The practice of harnessing natural forces
Global Strategy - answer Includes designing, producing, and marketing products with global
needs in mind, instead of considering individual countries alone.
Globalization - answer Process of doing business worldwide, so strategic decisions are made
based on global profitability of the firm rather than just domestic considerations.
Guanxi - answer China. Personal relations
International Firms - answer Organizations that conduct business operations across national
boarders.
Inhwa - answer South Korea. Harmony based in respect of hierarchical relationships,
including obedience to authority.
Multinational Corporations - answer Organizations that conduct business operations across
national boarders.
Nemaswashio - answer Japan. Workers expect supervisors to alert them privately of changes
rather than informing them in a meeting.
Protectionism - answer Countries imposing tariffs, taxes,and regulations on firms outside the
country to favor their own companies and people.
Wa - answer Japan. Group harmony and social cohesion.
Bribe - answer Gift bestowed to influence a recipient's conduct
Bribery - answer Offering, giving, receiving, or soliciting of any item of value to influence
the actions of an official of other person in discharge of a public or legal duty.
Code of Business Ethics - answer ...
Environment - answer Surroundings in which an organization operates, including air, water,
,land, natural resources, flora, fauna, and their interrelation.
Environmental Management System - answer ...
ISO 14000 - answer Refers to a series of voluntary standards in the environmental field.
ISO 14001 - answer Set of standards adopted by thousands of firms worldwide to certify to
their constituencies that they are conducting business in and environmentally friendly manner.
Social Policy - answer Concerns what responsibilities the firm has to employees,c consumers,
environmentalists, minorities, communities, shareholders, and other groups.
Social Responsibility - answer ...
Sustainability - answer ...
Whistle-Blowing - answer ....
Business Ethics - answer ...
Annual Objectives - answer short term milestones that orgs must achieve to reach long term
objectives. Measurable, quantitative, challenging, realistic, consistent, and prioritized
Competitive Advantage - answer what a firm does well compared to rivals. Less fixed assets
than rivals in recession.
Empowerment - answer the act of strengthening the employees sense of effectiveness by
encouraging them to participate in decision making and to exercising initiative and imagination
and rewarding them for doing so
Environmental Scanning - answer conducting research & gathering info assimilating external
info
External Opportunities - answer economic, social, cultural, demographic, environmental,
political, legal, governmental, technological & competitive trends that could sig benefit an org in
the future
External Threats - answer economic, social, cultural, demographic, environmental, political,
legal, governmental, technological & competitive trends that could sig harm an org in the future
Internal Strengths - answer controllable activities that are performed especially well
Internal weaknesses - answer controllable activities that are performed especially poorly
Intuition - answer essential to making good strategic decisions. Useful for making decisions
, in situations of uncertainty or little precedent, interrelated variables, choosing from several
alternatives.
Long-range planning - answer optimize trends of today for tomorrow
Long-term objectives - answer specific results they seek to achieve in pursuing basic mission
over more than one year
Mission statements - answer statements of purpose that distinguish a company
Policies - answer means by which annual objectives will be achieved
Retreats - answer off campus meetings to discuss and update firm
Strategic Management - answer formulating, implementing, & evaluating cross-functional
decisions that enable an organization to achieve its objectives. Focuses on integrating mgt,
marketing, finance, acct, prod/operations, r & d, and inf sys to achieve org success
SM Model - answer strategy formulation, implementation, evaluation
SM Process - answer consists of strategy formulation, implementation & evaluation
Strat Planning - answer refers only to strategy formulation sometimes. Synonymous with strat
mgt
Strategies - answer means by which l-t objectives will be achieved
Strategists - answer responsible for success or failure of organization. CEO, pres, owner,
chair of board, exec director, chancellor, dean, entrepreneur. All must be "chief learning officers"
Strategy Evaluation - answer final stage. Primary means for obtaining info on success of
strats. Reviewing factors, measuring performance, taking corrective actions.
Strat Formulation - answer developing a vision & mission, IDing an org's external
opportunities & threats, determining internal strengths & weaknesses, est l-t obj, generating alt
strategies, & choosing strategies to pursue. Commits an org to specifics over extended period of
time.
Strat implementation - answer requires firm to est annual objectves, devise policies, motivate
employees, and allocate resources to execute strategies. "Action stage." Most difficult. Requires
personal discipline, commitment, & sacrifice.
Sustained comp. advantage - answer continually adapt to changes in ext trends, effectively
