Mgmt 490 Strategic Management Paper
MGMT 490 - STRATEGIC MANAGEMENT
Review Topics for Final Exam
1.
The goal of strategic management. (ch. 1)
Integration of the functional areas of business. (ch. 1)
2.
The three stages of the strategic management. (ch. 1)
3
Stage of strategic management that the firm's internal strengths and weaknesses are determined. (ch. 1)
Stage of strategic management that the firm's long-term objectives are especially important. (ch. 1)
4.
Strategic management stage that corrective actions are taken. (ch. 1)
5.
Examples of activities at the strategy formulation stage of strategic management. (ch. 1)
Examples of activities at the implementation …show more content…
Characteristics of a good objective. (ch. 1)
9.
Which is more likely to influence a firm's performance: an effective strategy formulation and implementation versus competitors' strenghts and weakness. (ch. 1)
10.
Activities of an external audit. (ch. 3)
The first step in performing an external audit. (ch. 3) Competitive analysis
11.
The influce of environmental forces on the firm's performance - e.g., social, political, economic, technological and competitive forces. (ch. 3)
12.
Examples of environmental factors that can influence the firm's performance. (ch. 3)
The influence of a strong dollar versus a weak dollar on the value of U.S. exports. (ch. 3)
Strong-high price and weak
13.
What is a comparative advantage? (examples) (ch. 3)
14.
The I/O approach (i.e., theory) to the competitive advantage of the firm. (ch. 3)
The I/O approach (i.e., theory) to the influence of internal/external factors to the firm's performance. (ch. 3) industrial organization =i/o felt external has a greater effect on success
15.
What is competitive intelligence? (ch. 3) gathering information about your …show more content…
(ch. 5) customers willing to pay more to get services or products; not trying to be the cheapest; Dillards or JCPenny
32.
What is outsourcing? (ch. 5) all activates you can do in-house send out externally, can still be in the country will be on test
Examples of outsourcing? (ch. 5)
33.
According to BCG matrix : will be on test Boston Consultant Group
What is a cash cow? (ch. 6) high growth firm low/no growth industry
What is a question mark (aka problem child)? (ch. 6) low/no growth firm high growth industry
What is a star? (ch. 6) high growth both firm and industry
What is dog? (ch. 6) low/no growth firm and industry
34.
Example of an appropriate strategy for a business classify as a star? (ch. 6) do both backward and forward integration ensure supply and customers are getting the product
Example of an appropriate strategy for a business classify as a dog? (ch. 6) get out of the business or do horizontal integration- combine or buy with a another come in industry
35.
What is market segmentation? (ch. 8) breaking up of large market different consumers want different
Review Topics for Final Exam
1.
The goal of strategic management. (ch. 1)
Integration of the functional areas of business. (ch. 1)
2.
The three stages of the strategic management. (ch. 1)
3
Stage of strategic management that the firm's internal strengths and weaknesses are determined. (ch. 1)
Stage of strategic management that the firm's long-term objectives are especially important. (ch. 1)
4.
Strategic management stage that corrective actions are taken. (ch. 1)
5.
Examples of activities at the strategy formulation stage of strategic management. (ch. 1)
Examples of activities at the implementation …show more content…
Characteristics of a good objective. (ch. 1)
9.
Which is more likely to influence a firm's performance: an effective strategy formulation and implementation versus competitors' strenghts and weakness. (ch. 1)
10.
Activities of an external audit. (ch. 3)
The first step in performing an external audit. (ch. 3) Competitive analysis
11.
The influce of environmental forces on the firm's performance - e.g., social, political, economic, technological and competitive forces. (ch. 3)
12.
Examples of environmental factors that can influence the firm's performance. (ch. 3)
The influence of a strong dollar versus a weak dollar on the value of U.S. exports. (ch. 3)
Strong-high price and weak
13.
What is a comparative advantage? (examples) (ch. 3)
14.
The I/O approach (i.e., theory) to the competitive advantage of the firm. (ch. 3)
The I/O approach (i.e., theory) to the influence of internal/external factors to the firm's performance. (ch. 3) industrial organization =i/o felt external has a greater effect on success
15.
What is competitive intelligence? (ch. 3) gathering information about your …show more content…
(ch. 5) customers willing to pay more to get services or products; not trying to be the cheapest; Dillards or JCPenny
32.
What is outsourcing? (ch. 5) all activates you can do in-house send out externally, can still be in the country will be on test
Examples of outsourcing? (ch. 5)
33.
According to BCG matrix : will be on test Boston Consultant Group
What is a cash cow? (ch. 6) high growth firm low/no growth industry
What is a question mark (aka problem child)? (ch. 6) low/no growth firm high growth industry
What is a star? (ch. 6) high growth both firm and industry
What is dog? (ch. 6) low/no growth firm and industry
34.
Example of an appropriate strategy for a business classify as a star? (ch. 6) do both backward and forward integration ensure supply and customers are getting the product
Example of an appropriate strategy for a business classify as a dog? (ch. 6) get out of the business or do horizontal integration- combine or buy with a another come in industry
35.
What is market segmentation? (ch. 8) breaking up of large market different consumers want different