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UA - BUS 300 - MGT 300 Study Guide for Test 3 - Study Guide

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UA - BUS 300 - MGT 300 Study Guide for Test 3 - Study Guide

School: University of Alabama - Tuscaloosa
Department: Business
Course: Marketing
Professor: Susan Fant
Term: Spring 2015
Tags: MGT, mgt300, and Management
Name: MGT 300 Study Guide for Test 3
Description: This study guide covers all of the questions for test 3.
Uploaded: 10/30/2016
0 5 3 40 Reviews
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background image Review Day- Test 3 Chapter 10: T/F 1. What competitive advantage is- the ability to do something so well that one outperforms competitors  2. The steps in the strategic management process- 1) strategic  analysis- assessing competitive position- identify and analyze: 
mission, stakeholders, core values and culture, objectives; analyze 
organization and environment: organizational strengths and 
weaknesses, environmental opportunities and threats, rivalry and 
industry attractiveness  2) strategy formulation- creating 
strategies- revise objectives and select new strategies: corporate 
strategies, business strategies, functional strategies  3) strategy 
implementation
- putting strategies into action- implement strategies:
management systems and practices, strategic leadership; evaluate 
results and make adjustments: strategic control, corporate 
governance, renew strategic management process 
3. What stake holders are- individuals and groups directly affected by the  organization and its strategic accomplishments  4. What makes an industry attractive- few competitors, high barriers to  entry, few substitute products, low power of suppliers, and low power 
of customers
5. What the BCG matrix is- analyzes business opportunities according to  market growth rate and market share 6. What vertical integration is- growth by diversification; where a business moves upstream (farther from customers) to acquire its suppliers  7. What a growth strategy is- seek to expand the size and scope of  operations; the goal is to increase total revenue, product or service 
lines, and operating locations 
Chapter 10: MC 1. What a strategic business unit is- describe a business that operates as  part of a larger enterprise, such as Zappos within Amazon 2. What a business strategy is- identifies how a division or strategic  business unit will compete in its product or service domain; how are we
going to compete for customers in this industry and market?
3. What a corporate strategy is- sets long term direction for the total  enterprise; the highest level; in what industries and markets should we
compete?
4. What a functional strategy is- guides activities within one specific area  of operations; how can we best utilize resources within a function to 
implement out business strategy?
5. What a strategic analysis is- the process of analyzing the organization,  the environment, and the organization’s competitive position and 
current strategies 
background image 8. The steps in the strategic management process- 1) strategic  analysis- assessing competitive position- identify and analyze: 
mission, stakeholders, core values and culture, objectives; analyze 
organization and environment: organizational strengths and 
weaknesses, environmental opportunities and threats, rivalry and 
industry attractiveness  2) strategy formulation- creating 
strategies- revise objectives and select new strategies: corporate 
strategies, business strategies, functional strategies  3) strategy 
implementation
- putting strategies into action- implement strategies:
management systems and practices, strategic leadership; evaluate 
results and make adjustments: strategic control, corporate 
governance, renew strategic management process 
6. What corporate culture is- broad beliefs about what is or is not  appropriate behavior  7. What SWOT analysis is- a special strength that gives an organization a  competitive advantage; internal analysis of organizational strengths 
and weaknesses as well as external analysis of environmental 
opportunities and threats 
Chapter 12: T/F 1. What organizational culture is- the system of shared beliefs and values  that guides behavior in organizations  2. What ethnocentrism is- the belief that one’s membership group and  subculture or co-culture is superior to all others 3. What subcultures are- 1) organizational subcultures- consist of  members who share similar beliefs and values based on their work, 
personal characteristics, or social identities; 2) generational 
subcultures
- form among persons who work together and share 
similar ages, such as millennials and baby boomers; 3) gender 
subcultures
- form among persons who share gender identities and 
display common patterns of behavior; 4) occupational and 
functional subcultures
- form among persons who share the same 
skills and work responsibilities; 5) ethnic or national subcultures
form among people who work together and have roots in the same 
ethnic community or nationality
4. What the leaking pipeline is- where glass ceilings and other obstacles  cause qualified and high performing women to drop out of upward 
career paths 
5. What biculturalism is- when minority members display characteristics  of majority cultures in order to succeed  6. From where different kinds of change arise- 1) change leader- takes  initiative in trying to change the behavior of another person or within a
social system; 2) top down change- the change initiatives come from
senior management; 3) bottom up change- change initiatives come 
from all levels in the organization; 4) transformational change

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School: University of Alabama - Tuscaloosa
Department: Business
Course: Marketing
Professor: Susan Fant
Term: Spring 2015
Tags: MGT, mgt300, and Management
Name: MGT 300 Study Guide for Test 3
Description: This study guide covers all of the questions for test 3.
Uploaded: 10/30/2016
4 Pages 173 Views 138 Unlocks
  • Better Grades Guarantee
  • 24/7 Homework help
  • Notes, Study Guides, Flashcards + More!
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