MAN4720 CH1

elements of afi frame work

a guiding policy to adress the competitive challence a diagnosis of the competitive advantage a set of coherent actions to implement the firms guiding policy

used to describe unlikely event that has an impact on society?

black swan

external analysis of the afi framework?

competitive forces, strategic groups

which of the following are primary strategy objectives?

controlling costs, creating value

a firm that successfully executes a strategy benefits society by

creating value reinvesting profits and increasing employment

internal stakeholders

employees shareholders board members

internet privacy, genetic enineering, and stem cell research are exmaples of areas in which a firms_____responsibilities exceed its legal responsibilities

ethical

starbucks commitment to fair trade and responsible growing practices indicate

ethical

what is the overall purpose of strategic management?

gain competitive advantage

in oder for a firm such as treadless to benefit from the "wisdom of the crowds" the crowds must be

large and diverse

which of the following is a strategy used by threadless to reduce costs?

outsourcing activities to consumers?

overall purpose of a firms strategy is to

perform better then other companies

managing interactions of people and groups and are effected by firms activities are:

stakeholder strategy

in order to achieve and sustain competitive advantage a company devises a set goal directed actions known as

strategy

a competitive advantage that lasts for a long period of time is said to be

sustainable

a well devised strategy helps a firm understand

what to do, what not to do