FINAL EXAM MGT330

Feb 3rd, 2012
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MGT330 1. The major actions by which a business competes in a particular industry or market. Answer: Business strategy 2. A strategy employed for an organization that operates a single business and competes in a single industry. Answer: Concentration

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1. The major actions by which a business competes in a particular industry or market.Answer: Business strategy2. A strategy employed for an organization that operates a single business and competes in a single industry.Answer: Concentration3. A strategy used to add new businesses that produce related products or are involved in related markets and activities.Answer: Concentric diversification4. A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities.Answer: Conglomerate diversification5. The unique skills and/or knowledge an organization possesses that give it an edge over competitors.Answer: Core competencies6. The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities.Answer: Corporate strategy7. A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions.Answer: Differentiation strategy8. Strategies implemented by each functional area of the organization to support the organization's business strategy.Answer: Functional strategies9. A target or end that management desires to reach.Answer: Goal10. A strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product.Answer: Low-cost strategy11. An organization's basic purpose and scope of operationsAnswer: Mission12.

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