This is Exam #3 for the Fall Semester. Circle the correct answer. 1) The CEO is

Question

This is Exam #3 for the Fall Semester. Circle the correct answer. 1) The CEO is meeting with his top managers to determine how best to compete successfully the company's market. This group is developing the company's A) strategy B) competitive advantage C) strengths and weaknesses D) opportunities and threats 2) A A) missindescribes the B) business model C) SWOT analysis D) core competency describes the rationale of how a conmpany is going to make money 3) The CEO and his top managers have asked themselves two important questions: a. do customers value what the company is providing: and b. can the company make money doing that? This group is developing a A) strategy B) competitive advantage C) business model D) BCG matrix 4) The main reason strategic management is important is A) it allows an organization to anticipate economic recessions B) it can make a difference in how well an organization performs C) it reduces uncertainty D) it simplifies the environment 5) Arthur has an idea. After performing a SWOT, he has identified a market that is not being served so he is planning to start a new business and introduce a new product. Arthur is a(n) A) strategist B) dreamer C) entrepreneur D) independent business developer take advantage of opportunities to create new products or 6) People who engage in services, or change existing ones. A) social responsibility B) social engineering C) venture capitalism D) entrepreneurship

Explanation / Answer

1- Strategy

2- Business Model

3 - BCG matrix

4- It can make a difference in how well an organization performs

5- Entrepreneur

6- Entrepreneurship

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