MG 300 Exam 1 Study Guide Fall 2024 PDF

**EXAM 1 STUDY GUIDE** **(covers Chapters 1-5, the section on industry life cycle from Chapter 7, and the case** **discussions)** 1. **What does each of the following concepts mean?** - *strategy* - *competitive advantage, sustainable competitive advantage, strategic parity, competitiv...

**EXAM 1 STUDY GUIDE** **(covers Chapters 1-5, the section on industry life cycle from Chapter 7, and the case** **discussions)** 1. **What does each of the following concepts mean?** - *strategy* - *competitive advantage, sustainable competitive advantage, strategic parity, competitive* - *disadvantage 1* - *the strategic management process 1* - *corporate, business, global, and functional strategy 1* - *top-down strategic planning, scenario planning, and planned emergence 1* - *vision, mission, strategic objectives 1* - *the general environment in which a company operates 1* - *an industry* - *types of competition (types of industry structures) 1* - *barriers to entry, barriers to exit, barriers to imitation (isolation mechanisms), mobility barriers,* - *switching costs, economies of scale, learning curve effects, bargaining power 4* - *strategic groups 1* - *industry life cycle 1* - *value chain (primary activities, support activities) 1* - *firm resources (tangible, intangible) 2* - *core competencies, organizational capabilities and dynamic capabilities 1* - *shareholder value creation* - *economic value creation* - *stakeholders* - *non-financial performance (balanced scorecard, the triple bottom line)* 2. **How are the following models/frameworks used in strategic analysis? What is their purpose (i.e. what do they evaluate)? At what level of analysis are they used (i.e. industry, firm, individual resource or capability)?** - *The Five-force model 4* - *the PESTEL framework* - *value-chain analysis* - *VRIO analysis 1* - *V-P-C analysis* - *financial performance analysis (make sure you can interpret* the major accounting ratios) 1 3. **What are the major takeaways from the cases we discussed in class (Disney; Airborne Express)?**