Mgmt 4800 exam 1 study guide
Chapters 1‐3 Essentials of Strategic Management, 2nd edition, Hill & Jones Multiple choice part 1.
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sustained competitive advantage
responsibilities of corporate-level
managers
corporate-level management
Functional managers
Components of a mission statement
Mintzberg’s emergent strategy
scenario approach to strategic planning
cognitive biases of decision makers
ditto
Jeffrey Pfeffer and managers’ political
power
escalating commitment
company stakeholder
vision
characteristics of well-constructed
goals
risk capital
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the agency problem
types of governance mechanisms
common pay-for-performance systems
responsibilities of the board of
directors
opportunistic exploitation
A company's closest competitors
Porter's five forces
Absolute cost advantages
industry structures (i.e. a monopoly)
The extent of rivalry among
established companies
The bargaining power of an industry's
suppliers
strategic groups
Mobility barriers
Entry barriers
threat from new entrants
Fill‐in part 1.
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“capital” (means what?)
strategic planning process steps such as strategy formulation
SWOT
The strategic planning process
means of enhancing strategic decision making
external stakeholders
organizational culture
the principal and the agent
stockholders as principals
inside and outside directors & their role
Governance mechanisms, principals and agents
industry (definition of)
barriers to entry
Absolute cost advantage
switching costs
Exit barriers
Strategic groups
shakeout stage of the industry life cycle