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