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SEVI 3013 Exam 1 Questions and Answers: Strategic Competitiveness, Exams of Marketing Business-to-business (B2B)

A comprehensive set of questions and answers for sevi 3013 exam 1, covering key concepts in strategic competitiveness. It explores topics such as strategic management process, hypercompetition, global economy, strategic flexibility, resources, capabilities, core competencies, vision, mission, stakeholders, strategic leaders, organizational culture, general environment, industry environment, competitor analysis, opportunity, threat, monitoring, forecasting, assessing, demographic segment, economic environment, political/legal segment, sociocultural segment, technological segment, global segment, sustainable physical environment segment, industry, economies of scale, switching costs, strategic group, and competitor intelligence. Valuable for students preparing for sevi 3013 exam 1, offering insights into the course's key concepts and providing a framework for understanding strategic competitiveness.

Typology: Exams

2024/2025

Available from 02/14/2025

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SEVI 3013 EXAM 1 Questions with 100%
Correct Answers | Verified | Latest Update
2025
Strategic Competitiveness - ✔✔Firms achieve this by formulating and
implementing a value creating strategy
Strategy - ✔✔An integrated and coordinated set of commitments and actions
designed to exploit core competencies and gain a competitive advantage
Competitive Advantage - ✔✔A firm has this when by implementing a chosen
strategy, it creates superior value for customers and when competitors are not
able to imitate the value the firm's products create or find it too expensive to
attempt imitation
Above-Average Returns - ✔✔Returns in excess of what an investor expects to
earn from other investments with a similar amount of risk
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SEVI 3013 EXAM 1 Questions with 100%

Correct Answers | Verified | Latest Update

Strategic Competitiveness - ✔✔Firms achieve this by formulating and implementing a value creating strategy Strategy - ✔✔An integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage Competitive Advantage - ✔✔A firm has this when by implementing a chosen strategy, it creates superior value for customers and when competitors are not able to imitate the value the firm's products create or find it too expensive to attempt imitation Above-Average Returns - ✔✔Returns in excess of what an investor expects to earn from other investments with a similar amount of risk

Risk - ✔✔An investor's uncertainty about the economic gains or losses that will result from a particular investment Average Returns - ✔✔Returns equal to those an investor expects to earn from other investments possessing a similar amount of risk Strategic Management Process - ✔✔The full set of commitments, decisions, and actions firms take to achieve strategic competitiveness and earn above-average returns Hypercompetition - ✔✔Condition where competitors engage in intense rivalry, markets change quickly and often, and entry barriers are low Global Economy - ✔✔One in which goods, services, people, skills, and ideas move freely across geographic borders

Mission - ✔✔Specifies the businesses in which the firm intends to compete and the customers it intends to serve Stakeholders - ✔✔Individuals, groups, and organizations, that can affect the firm's vision and mission, are affected by the strategic outcomes achieved, and have enforceable claims on the firm's performance Strategic Leaders - ✔✔People located in different areas and levels of the firm using the strategic management process to select actions that help the firm achieve its vision and fulfill its mission Organizational Culture - ✔✔Refers to the complex set of ideologies, symbols, and core values that individuals throughout the firm share and that influence how the firm conducts business

General Environment - ✔✔Composed of dimensions in the broader society that influence an industry and the firm within it Industry Environment - ✔✔The set of factors that directly influences a firm and its competitive actions and responses:-The power of suppliers-The power of buyers- The threat of product substitutes-The intensity of rivalry among competing firms Competitor Analysis - ✔✔How companies gather and interpret information about their competitors is called competitor analysis Opportunity - ✔✔A condition in the general environment that, if exploited effectively, helps a company reach strategic competitiveness Threat - ✔✔Condition in the general environment that may hinder a company's efforts to achieve strategic competitiveness

regulations guiding interactions among nations as well as between firms and various local governmental agencies Sociocultural Segment - ✔✔Concerned with a society's attitudes and cultural values Technological Segment - ✔✔Includes the institutions and activities involved in creating new knowledge and translating that knowledge into new outputs, products, processes, and materials Global Segment - ✔✔Includes relevant new global markets and their critical cultural and institutional characteristics, existing markets that are changing and important international political events Sustainable Physical Environment Segment - ✔✔Refers to potential and actual changes in the physical environment and business practices that are intended to positively respond to those changes in order to create a sustainable environment

Industry - ✔✔Group of firms producing products that are close substitutes Economies of Scale - ✔✔Derived from incremental efficiency improvements through experience as a firm grows larger Switching Costs - ✔✔The one-time costs customers incur when they buy from a different supplier Strategic Group - ✔✔A set of firms emphasizing similar strategic dimensions and using a similar strategy is called a strategic group Competitor Intelligence - ✔✔The set of data and information the firm gathers to better understand and anticipate competitors' objectives, strategies, assumptions, and capabilities