Cob 487 Study guides, Class notes & Summaries

COB 487 Exam Questions with Correct Answers Perceptual activity - Answer-the ability to sense what could be coming and prepare for what to do about it Forecasts (3 aspects) - Answer-Environmental scanning, Environmental monitoring, Competitive intelligence General Environment (6 factors) - Answer-Political/Legal Economic Sociocultural Technological Demographic Global Political/Legal Segment - Answer-Environment & legislation influence regulations with which industries must comply,...

COB 487 Final Exam Fall 2023 Study Guide with complete solution

COB 487 Final Exam Questions and Answers All Correct If the U.S. dollar appreciates relative to foreign currency, what is likely to be the result for the U.S. company that has branches abroad? - Answer-Profits will decrease, when measured in U.S. dollars When firms expand into global markets, they are faced with the choice of reducing costs and/or adapting to the local market. When high pressures exist to lower costs, companies should choose a(n) ________ strategy or ________ strategy in or...

COB 487 Midterm Exam Questions with Correct Answers The final realized strategy of a firm is a combination of deliberate and time-tested strategies only. - Answer-False The organizational versus the individual rationality perspective suggests that objectives that are - Answer-best for a functional area may not be best for the overall organization Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive adv...

COB 487 - Final Exam 2023 Actual Questions and Answers 100% Verified

What is Strategic Management? correct answers examines how actions and events involving top executives, firms, and industries influence a firm's success or failure. - mastering strategy is therefore part art and part science Defining Strategy: The Five Ps described by Henry Mintzberg correct answers It can be viewed as a: - plan - ploy - position - pattern - perspective Plan correct answers a carefully crafted set of steps that a firm intends to follow in order to be successful - s...

strategy implementation correct answers the sum total of all activities and choices required for the execution of a strategic plan The who correct answers People going to carry out the strategic plan The what correct answers action that has to be done to align company operations in the intended direction The how correct answers The way everyone is going to work together to do what is needed Strategy Implementation Problems correct answers 1.Took more time than planned 2.Unanticipa...

COB 487 EXAM 1 QUESTIONS AND ANSWERS ALREADY PASSED What is a normative argument? It is about what ought to be done according to a someone's value position. Stakeholders interests are... Joint Who are typically considered primary stakeholders? Employees, customers, suppliers, communities, and shareholders. Who originally developed stakeholder theory? Ed Freeman According to stakeholder theory, how can trade-offs be resolved? By leveraging imagination/creativity. What is an instrumental vie...

COB 487 2023 Exam Questions with Correct Answers Strategy implementation can be the most difficult part of the strategic management process. Which of the following is not likely to be a cause of implementation failure? - Answer-competition The innovation paradox implies that consistency in products and services provokes a tension with the need for new products. This results in a conflict between - Answer-stability and change. The four key attributes of strategic management include the id...

Strategy analysis is the starting point of the strategic management process and consists of the - analysis of the relevant internal and external environmental factors only. - analysis only of the vision, mission, and objectives of the firm. - analysis of relevant competitors only. - matching of vision, mission, and objectives with the relevant internal and external environmental factors. correct answers matching of vision, mission, and objectives with the relevant internal and external envi...