BPL 5100 - QUIZ 1 EXAM QUESTIONS
AND ANSWERS GRADED A+ 2025/2026
What is strategic management? - ANS the analyses, decisions, and actions an organization
undertakes in order to create and sustain *competitive advantages*
elaboarate: analyses, decisions and acitons taken during stratregic management -
ANS analyses: analyzing the strategic goals (vision, mission)
decisions: what industries should we compete in? how should we compete in those industries?
actions: implementing their strategies
what are the attributes of strategic management? (4) - ANS 1. directs the org towards oveall
goals/obj
2.inlcudes multiple stakeholders in deicison making
3.needs to incorporate *short and long term perspectives*
4.recog trade-offs between effciency and effectiveness
what is opeartional effectiveness - ANS performing simliar acitivies *better* than rivals
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, ex: benchmarking, business process reegineering
strategic management can be referred to as the study of why some firms outperform others
(T/F) - ANS T
operationsal effectiveness leads to sustainable competitve advantages (T/F) - ANS F
operational effectiveness is doing what everyone else is doing
to gain a sustainable competitve advantage, you must be *different*
*different* = strategy
strategy is all about being different (T/F) - ANS T
what are the 3 key strategic management processess? - ANS strategic analysis
straegic formulation
strategic implementaion
strategic analysis (3) - ANS you have to analyze
1. goals and obj of the firm
2. external and internal eviornment
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
AND ANSWERS GRADED A+ 2025/2026
What is strategic management? - ANS the analyses, decisions, and actions an organization
undertakes in order to create and sustain *competitive advantages*
elaboarate: analyses, decisions and acitons taken during stratregic management -
ANS analyses: analyzing the strategic goals (vision, mission)
decisions: what industries should we compete in? how should we compete in those industries?
actions: implementing their strategies
what are the attributes of strategic management? (4) - ANS 1. directs the org towards oveall
goals/obj
2.inlcudes multiple stakeholders in deicison making
3.needs to incorporate *short and long term perspectives*
4.recog trade-offs between effciency and effectiveness
what is opeartional effectiveness - ANS performing simliar acitivies *better* than rivals
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, ex: benchmarking, business process reegineering
strategic management can be referred to as the study of why some firms outperform others
(T/F) - ANS T
operationsal effectiveness leads to sustainable competitve advantages (T/F) - ANS F
operational effectiveness is doing what everyone else is doing
to gain a sustainable competitve advantage, you must be *different*
*different* = strategy
strategy is all about being different (T/F) - ANS T
what are the 3 key strategic management processess? - ANS strategic analysis
straegic formulation
strategic implementaion
strategic analysis (3) - ANS you have to analyze
1. goals and obj of the firm
2. external and internal eviornment
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
