BCOR 460 Exam 1 Latest 2023 Graded A

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BCOR 460 Exam 1 Latest 2023 Graded A Strategic Management ✔✔integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage strategy ✔✔set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors plan, ploy, pattern, position, perspective ✔✔5 P's of Strategy plan ✔✔consciously intended course of action to deal with a situation ploy ✔✔specific "maneuver" intended to outwit a competitor pattern ✔✔consistent stream of action position ✔✔location among competitors perspective ✔✔how strategy is conceived by the firm and managers diagnosis, guiding policy, set of coherent actions ✔✔3 components of good strategy business model ✔✔explains how a firm intent to make money competitive advantage ✔✔superior performance relative to other competitors in the same industry or the industry average sustainable competitive advantage ✔✔outperforming competitors or the industry average over a prolonged period of time competitive disadvantage ✔✔underperformance relative to other competitors in the same industry or the industry average competitive parity ✔✔performance of two or more firms at the same level strategic positioning ✔✔staking out a unique position within an industry that allows a firm to provide value to customers, while controlling costs industry effects ✔✔firm performance attributed to the structure of the industry in which the firm competes firm effects ✔✔firm performance attributed to the actions managers take black swan events ✔✔incidents that describe highly improbable but high-impact events stakeholders ✔✔organizations, groups, and individuals that can affect or be affected by a firm's actions stakeholder strategy ✔✔an integrative approach to managing a diverse set of stakeholders effectively in order to gain and sustain competitive advantage stakeholder impact analysis ✔✔a decision tool with which managers can recognize, prioritize, and address the needs of different stakeholders, enabling the firm to achieve competitive advantage while acting as a good corporate citizen power, legitimacy, urgency ✔✔3 important stakeholder attributes identify stakeholders ✔✔step 1 stakeholder impact analysis identify stakeholders' interests ✔✔step 2 stakeholder impact analysis identify opportunities and threats ✔✔step 3 stakeholder impact analysis identify social responsibilities ✔✔step 4 stakeholder impact analysis corporate social responsibility ✔✔framework that helps firms recognize and address the economic, legal, social, and philanthropic expectations that society has of the business enterprise at a given point in time address stakeholder concerns ✔✔step 5 stakeholder impact analysis AFI Strategy Framework ✔✔model that link

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