MGT 498 Week 1 Knowledge Check
- Which of the following is the main purpose of a strategic management process?
- ___________can be best define as the reason a firm wins with customers or the value proposition it offers to customers, such as a low-cost advantage or differentiation advantage.
- ___________can be best define as when an organization generates higher profits compared to its rivals.
- Which of the following is true of competitive advantage?
- Which of the following statements is true about customer needs?
- A product that is fundamentally different yet serves the same function or purpose as another product best defines the term ____________.
- A visual description of the steps required to turn raw materials into finished products and/or services most accurately defines the term ___________.
- Which of the following statements is true of a value chain?
- All assets, capabilities, organizational processes, firm attributes, information, knowledge, and so on, controlled by a firm that enable the firm to conceive of and implement strategies that improve its efficiency and effectiveness most accurately defines the term____________.
- The procedures, processes, or routines for delivering value to customers, employees, suppliers, or investors most accurately define the term ____________.
MGT 498 Week 1 Knowledge