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MBA 706 Exam Study Guide 2- Dr. Saleh Exam Questions And Answers Latest 2025, Exams of Economics

MBA 706 Exam Study Guide 2- Dr. Saleh Exam Questions And Answers Latest 2025

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MBA 706 Exam Study Guide 2- Dr. Saleh
Exam Questions And Answers Latest 2025
What is the definition of a mission? - - -
correct answer Unique purpose that distinguishes the
organization from other companies and defines the boundaries of
its operations
What does a mission do? - - -
correct answer Proclamation of organizations primary objective
that encapsulates its core values
What should a mission do? - - -
correct answer Characterize the organization's principles and
priorities and define the broad product, market, and technologies
that are core to the business.
A Mission should define the boundaries of business' ambitions: - - -
correct answer Product Scope
Market Scope
Geographical Scope
T/F A mission may also encompass the organizations strategic intent
or vision? - - -
correct answer TRUE
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Exam Questions And Answers Latest 2025

What is the definition of a mission? - - - correct answer ✅Unique purpose that distinguishes the organization from other companies and defines the boundaries of its operations What does a mission do? - - - correct answer ✅Proclamation of organizations primary objective that encapsulates its core values What should a mission do? - - - correct answer ✅Characterize the organization's principles and priorities and define the broad product, market, and technologies that are core to the business. A Mission should define the boundaries of business' ambitions: - - - correct answer ✅Product Scope Market Scope Geographical Scope T/F A mission may also encompass the organizations strategic intent or vision? - - - correct answer ✅TRUE

Exam Questions And Answers Latest 2025

Can a mission act as a guide and lead to the development of hierarchy of objectives? - - - correct answer ✅Yes What should a mission accurately describe? - - - correct answer ✅The: Business, The: Market it serves The: organizations capabilities What can influence an organizations mission? - - - correct answer ✅1. Corporate governance: who SHOULD we serve /accountability

  1. Stakeholders - who DO we serve/ balance of power
  2. Business Ethics - social responsibility / expectations
  3. Cultural Context - Aspects of mission are priority / influence of cultural environment What is a broad mission statement? - - - correct answer ✅- Fairly Common, generally refers to all stakeholders in the business

Exam Questions And Answers Latest 2025

  1. Specific capabilities
  2. Aspirational *Also need to define the scope: Product, market, geographical What are SMART goals? *Can be both short & long term - - - correct answer ✅Specific Measurable Aspirational / Achievable Realistic Time Scales / Timely What are characteristics of successful objectives? - - - correct answer ✅Acceptability Flexibility Comprehensibility What is the hierarchy of objectives? - - - correct answer ✅Corporate - over 3 years: organizations overall direction in term of growth / i.e. increase profit by 30%

Exam Questions And Answers Latest 2025

Functional - over 3 years: Marketing, finance, HR, ops - Departments direction in terms of growth / i.e. 25% increase in marketing share Operational - 1-3 years: marketing mix (product, service, promotion) Marketing strategy becomes the objective Sometimes SBU - level also if org has a divisional structure What is the balanced scorecard? - - - correct answer ✅Requires managers to look at business from 4 key perspectives:

  1. Customer - satisfaction via surveys
  2. Internal - marketing, manufacturing, logistics, quality
  3. Innovation / learning - time to market, continuous improvement
  4. Financial - ROI, cash flow, yearly performance What are some key areas w/in which organizations should develop objectives (Drucker) - - - correct answer ✅- Market standing

Exam Questions And Answers Latest 2025

Profit forecast reliability Sales backlog What are customer strategic objectives - - - correct answer ✅Value for money Competitive price Customer satisfaction What are customer strategic measures? - - - correct answer ✅Customer ranking survey Pricing index customer satisfaction index Mystery shopping rating What are internal strategic objectives? - - - correct answer ✅1. Marketing: product & service deployment, shape customer requirement

  1. Manufacturing: lower manufacturing cost, improve project management
  2. Logistics: reduce delivery costs, inventory management

Exam Questions And Answers Latest 2025

  1. Quality What are internal strategic measures? - - - correct answer ✅Pioneer % of product portfolio & hours w/ customer on new work Total expenses per unit vs. competition & safety incident index Delivered cost per unit, inventory level compared to plan and output rate, rework What are innovation and learning strategic objectives? - - - correct answer ✅Innovate products & services Time to market Empowered workforce Access to strategic information Continuous improvement What are innovation and learning strategic measures? - - - correct answer ✅% revenue from pioneer products

Exam Questions And Answers Latest 2025

What is differentiation strategy? - - - correct answer ✅Product offered is distinct & differentiated from the competition What are common sources of differentiation? - - - correct answer ✅Product performance Product perception Product augmentation What is a focus strategy? - - - correct answer ✅When organization concentrates on narrow range of business activities What are basic factors considered in focus strategy? - - - correct answer ✅Geographic area End-user focus Product / product line specialist How many characteristics are involved with sustainable competitive advantage? - - -

Exam Questions And Answers Latest 2025

correct answer ✅Relevant: must be appropriate to current & future market needs - must be relevant to organization: achievable w/ feasible resources Defensible: must be barriers to replication: Asset & Skill based What are fight sources of competitive advantage? - - - correct answer ✅1. Actual product performance: robust, economic, easy to use

  1. Perception of product: brand image, product positioning
  2. Low-cost operations: location, buying power
  3. Legal advantage: patents, contracts, and copyrights
  4. Alliances & relationships: networking, procurement
  5. Superior skills: database management, design skills
  6. Flexibility: developing customized solutions
  7. Attitude: aggressive, selling, tough negotiation What are the different market positions? - - - correct answer ✅Leader: Expanding the market, offensive & defensive strategy

Exam Questions And Answers Latest 2025

What are different defensive strategies? - - - correct answer ✅1. Position defense

  1. Flank
  2. Pre-emptive
  3. Counter
  4. Mobile
  5. Contraction How many reasons are there for strategic wear out? - - - correct answer ✅ 6 What are the reasons for strategic wear out? - - - correct answer ✅1. Changes in customer requirements
  6. Changes in distribution systems
  7. Innovation by competitors
  8. Poor control of company costs
  9. Lack of consistent investment
  10. Ill-advised changes in successful strategy

Exam Questions And Answers Latest 2025

What are strategies for declining / hostile markets? - - - correct answer ✅1. Generate growth

  1. Survival
  2. Exit What are 3 components of strategy formulation? - - - correct answer ✅1. Competitive advantage
  3. Industry position
  4. Product/ market strategies What falls under competitive advantage? - - - correct answer ✅1. Generic strategy
  5. Identify advantage
  6. Experience / value What falls under industry position? - - - correct answer ✅1. Market position
  7. Offensive strategy
  8. Defensive strategy

Exam Questions And Answers Latest 2025

Marketing assets: does the market segment allow a company to take advantage of current strengths Cost advantages: entering a price-sensitive segment would be consistent w/ capabilities of an organization that has a low-cost base Technological strengths: where organization has access to superior technology, is it's use compatible w/ market segment & will it allow the company to gain any advantage Managerial capabilities & commitment: does the company have technical & managerial skills necessary to successfully enter a market segment? The process of evaluating segments requires managers to make creative & qualitative judgments; it is not a completely objective process: - - - correct answer ✅Ability to allow creation of sustainable market position Compatibility w/ the organizations mission, values and culture

Exam Questions And Answers Latest 2025

Ability to provide a focal point for action & future development in the organization Ability to facilitate an innovative approach to market entry Ability of current organizational structure to service target market Compatibility w/ current data collection & reporting systems & policies What are associations used to position a brand? - - - correct answer ✅1. Product attributes

  1. Product benefits
  2. Usage occasions
  3. Users
  4. Activities
  5. Personality
  6. Origin
  7. Competitors
  8. Product class
  9. Symbol

Exam Questions And Answers Latest 2025

What is unchanged target market & unchanged product attributes?


correct answer ✅Image repositioning What is CHANGE target market & unchanged product attributes? - -

correct answer ✅Market repositioning What is UNCHANGED target market & CHANGED product attributes? - - - correct answer ✅product repositioning What is CHANGED target market & CHANGED product attributions?


correct answer ✅Total repositioning What can a brand's maximum profitability be increased by? - - - correct answer ✅1. Raising prices

  1. Cutting costs
  2. Cutting brand's product range

Exam Questions And Answers Latest 2025

What are 3 levels of a product? - - - correct answer ✅1. Core: Defines fundamental needs being met

  1. Actual: specific offering aimed at meeting core need
  2. Augmented: enhances actual product by offering additional services 3 categories (strategies) of product development - - - correct answer ✅1. Product improvement & modification: maintaining a competitive position in existing market, adapting product to appeal to other segments
  3. Product imitation
  4. Product innovation: replacing existing products w/ new approaches & items which enhance customer satisfaction. & providing diversification in order to target opportunities in new markets What are 5 reasons why products fail? - - - correct answer ✅1. Under investment