The Paradoxical Twins: Acme and Omega Electronics

MBA Exam1 Learning Objectives

Chapter 1

Define strategic competitiveness, strategy, competitive advantage, above-average returns, and the strategic management process.
Define resources, capability, and core competencies.
Use the industrial organization (I/O) model to explain how firms can earn above-average returns. (Figure 1.2)
Use the resource-based model to explain how firms can earn above average-returns. (Figure 1.3)
Describe vision and mission and discuss their value.
Define stakeholders and describe their ability to influence organizations.
Identify different types of stakeholders (Figure 1.4)
Who are strategic leaders?
Describe the work of strategic leaders.
Explain the strategic management process. (Figure 1.1)
Topical Presentation Example:
      What is performance?
      Why is performance central to the study and practice of management?
      Identify and briefly describe 4 major approaches to measuring performance.

Chapter 2

Explain the importance of analyzing and understanding the firm’s external environment.
Identify, define and describe the 3 major areas of a firm’s external environment. (Figure 2.1)
What are opportunities and threats and why is it important to identify them?
Identify and describe the four activities of the external environmental analysis process. (Table 2.2)
Identify and briefly describe the general environment’s six segments.
Identify the five competitive forces and explain how they determine an industry’s profit potential. (Figure 2.2)
What affects the strength of the five competitive forces?
Define strategic groups and describe their influence on the firm.
What is competitor analysis, what are its components, and why is it important? (Figure 2.3)

Chapter 3

Explain the need for firms to study and understand their internal organization.
Define value and discuss its importance. (Figure 3.1)
Describe the differences between tangible and intangible resources.
Define capabilities and discuss...