Show:
Ch 01 - SM Process
Ch 01 - SM Process
Ch 01 - SM Process
Ch 01 - SM Process
Ch 01 - SM Process
100
______ is a firm's theory about how to gain competitive advantage.
Strategy
100
The _____ is an organization's long-term purpose.
Mission
100
The _______ element of the SM Process identifies critical Threats and Opportunities in the environment.
External Analysis
100
The ______ Strategy are actions firms take to succeed in multiple markets or industries simultaneously.
Corporate-Level
100
How can competitive advantage be measured?
1) Examining a firm's accounting performance, 2) Examining a firm's economic performance
200
The _______ is defined as a sequential set of analyses and choices that can increase the likelihood that a firm will choose a good strategy.
Strategic Management Process
200
The Specific measurable targets a firm can use to evaluate the extent to which it is realizing its mission are known as _______.
Objectives
200
The ______ element of the SM Process identifies Strengths and Weaknesses inside an organization.
Internal Analysis
200
_____ is the difference between the perceived benefits a product/service provides to a customer and the full economic cost of delivering it.
Economic Value
200
The advantage of measuring competitive advantage by ACCCOUNTING performance are:
1) Comparing one firm to another within the same industry, 2) Comparing accounting ratios against standards
300
In the Strategic Management Process, a _______ is one that will generate a competitive advantage.
good strategy
300
Objectives are divided into these two categories _______ and _______.
High-Quality Objectives and Low-Quality Objectives
300
_____ is known as the strategic actions organization chooses to pursue to achieve competitive advantage.
Strategic Choice
300
_______ is the difference between economic value created by firm and economic value created by rivals.
Competitive Advantage
300
Disadvantages of measuring competitive advantage by ACCOUNTING performance are:
1) Firms may use different accounting standards, 2) Compare accounting ratios to no standard
400
Mission impacts can be _____, ____, or ______.
Good, Bad, Indifferent
400
_______ Objectives are tightly connected to key elements of mission, are relatively easy to measure, and relatively easy to track over time.
High-Quality
400
The Strategic Choice element is divided into these two strategies.
Business-Level and Corporate-Level
400
______ are when firms create the same economic value as their rivals.
Competitive Parity
400
The advantage of measuring competitive advantage by ECONOMIC performance are:
Page 17 and 19 of book....
500
What are the Strategic Management Process 6 key elements that should move a firm to a competitive advantage.
1) Mission, 2) Objective, 3) External Analysis, 4) Internal Analysis, 5) Strategic Choice, 6) Strategy Implementation
500
_______ objectives are NOT connected to key elements of mission, are NOT easy to measure, and are NOT easy to track over time.
Low-Quality
500
The _____ Strategy are actions firms take to achieve competitive advantage in a single industry/market.
Business-Level
500
______ is when firms generate less economic value than their rivals.
Competitive Disadvantage
500
Disadvantages of measuring competitive advantage by ECONOMIC performance are:
Page 17 and 19 in Book.