MAN 320F Exam 2 (Aroian) | High-Yield Questions
&Answers, Study Guide|100% Guarantee Pass
and Well Accurate | Most Frequently Tested
Questions | Graded A+ ,Reviewed and
Rationalized | Newest Version and Brand New!!!!
Blue Ocean Strategy
ANSWER:
strategy where it includes all industries not in existence, unknown market space
going where the profits and growth is, not where the competition is
Red Ocean Strategy
ANSWER:
all industries in existence, the known mkt space
industries never stand...
ANSWER:
still
strategic move
ANSWER:
the set of managerial actions and decisions involved in making a major market-
creating business offering
with technology & globalization, it has led to what?
ANSWER:
accelerated commodization
where brands become more similar, ppl buy more on price
The iPod was so successful because it was a
,ANSWER:
fully-integrated product
What does it mean...blue ocean?
ANSWER:
creating a new group of consumers
most are created from within red oceans
what is the key to success?
ANSWER:
market opportunity
Value innovation
ANSWER:
low costs
high buyer value
red vs blue ocean strategy
ANSWER:
Red:
compete in existing mkt space, beat competition, exploit existing demand, focus
on value-cost trade-off, make decision to differentiate through strategic choice
and low costs
Blue:
create new mkt space, competition= irrelevant, creating new demand, focus on
differentiation & low costs, reconstructionist view
the winning strategic approach involves
ANSWER:
value innovation
you break the value-cost trade off by
ANSWER:
enhancing a limited set of key factors and reducing or eliminating all other
traditional
ex: microsoft office vs open office
,strategic plan
ANSWER:
comprehensive plan that identifies the critical direction and guides the
allocation of resources
strategic management
ANSWER:
1) analyze and learn from stakeholders
2) establish strategic direction
3) create strategy
4) execute it
(all in effort to please stakeholders)
broad environment includes...
ANSWER:
1. sociocultural trends
2. technological trends
3. political trends
4. economic trends
the task environment includes...
ANSWER:
the closest stakeholders
1. customers
2. suppliers.
3. competitors
global strategic management
ANSWER:
most successful firms look global for opportuntiies to grow and develop
saturated domestic mkt> potential foreign mkt
a mission statement
ANSWER:
reflects what an org is
used for decision making and resource allocations
, a vision statement is
ANSWER:
a forward looking view of what the company will look like
Michael Porter's Five Forces Model
ANSWER:
Buyer power
Supplier power
Threat of substitute products or services
Threat of new entrants
Rivalry among existing competitors
triple bottom line
ANSWER:
represents people, planet, and profit; measures an organization's social,
environmental, and financial performance
measures an org's social, environmental, and financial performance
success can be measured through a
ANSWER:
social audit
social audit
ANSWER:
a systematic evaluation of an organization's progress toward implementing
socially responsible and responsive programs
internal stakeholders
ANSWER:
employees, owners, board of directors
owners
ANSWER:
consist of all those who can claim the organization as their legal property
board of directors
&Answers, Study Guide|100% Guarantee Pass
and Well Accurate | Most Frequently Tested
Questions | Graded A+ ,Reviewed and
Rationalized | Newest Version and Brand New!!!!
Blue Ocean Strategy
ANSWER:
strategy where it includes all industries not in existence, unknown market space
going where the profits and growth is, not where the competition is
Red Ocean Strategy
ANSWER:
all industries in existence, the known mkt space
industries never stand...
ANSWER:
still
strategic move
ANSWER:
the set of managerial actions and decisions involved in making a major market-
creating business offering
with technology & globalization, it has led to what?
ANSWER:
accelerated commodization
where brands become more similar, ppl buy more on price
The iPod was so successful because it was a
,ANSWER:
fully-integrated product
What does it mean...blue ocean?
ANSWER:
creating a new group of consumers
most are created from within red oceans
what is the key to success?
ANSWER:
market opportunity
Value innovation
ANSWER:
low costs
high buyer value
red vs blue ocean strategy
ANSWER:
Red:
compete in existing mkt space, beat competition, exploit existing demand, focus
on value-cost trade-off, make decision to differentiate through strategic choice
and low costs
Blue:
create new mkt space, competition= irrelevant, creating new demand, focus on
differentiation & low costs, reconstructionist view
the winning strategic approach involves
ANSWER:
value innovation
you break the value-cost trade off by
ANSWER:
enhancing a limited set of key factors and reducing or eliminating all other
traditional
ex: microsoft office vs open office
,strategic plan
ANSWER:
comprehensive plan that identifies the critical direction and guides the
allocation of resources
strategic management
ANSWER:
1) analyze and learn from stakeholders
2) establish strategic direction
3) create strategy
4) execute it
(all in effort to please stakeholders)
broad environment includes...
ANSWER:
1. sociocultural trends
2. technological trends
3. political trends
4. economic trends
the task environment includes...
ANSWER:
the closest stakeholders
1. customers
2. suppliers.
3. competitors
global strategic management
ANSWER:
most successful firms look global for opportuntiies to grow and develop
saturated domestic mkt> potential foreign mkt
a mission statement
ANSWER:
reflects what an org is
used for decision making and resource allocations
, a vision statement is
ANSWER:
a forward looking view of what the company will look like
Michael Porter's Five Forces Model
ANSWER:
Buyer power
Supplier power
Threat of substitute products or services
Threat of new entrants
Rivalry among existing competitors
triple bottom line
ANSWER:
represents people, planet, and profit; measures an organization's social,
environmental, and financial performance
measures an org's social, environmental, and financial performance
success can be measured through a
ANSWER:
social audit
social audit
ANSWER:
a systematic evaluation of an organization's progress toward implementing
socially responsible and responsive programs
internal stakeholders
ANSWER:
employees, owners, board of directors
owners
ANSWER:
consist of all those who can claim the organization as their legal property
board of directors
