BMBA 5009 MIDTERM EXAM
DEFINITIONS WITH CORRECT SOLUTIONS
LATEST UPDATE EXAM
commodity -ANS--A basic good that can be interchanged with nearly
identical offerings by others—think milk, coal, orange juice, or to a
lesser extent, Windows PCs and Android phones. The more
commoditized an offering, the greater the likelihood that competition
will be based on price.
Sustainable Competitive Advantage -ANS--Financial performance
that consistently outperforms industry averages.
Inventory Turns -ANS--Sometimes referred to as inventory turnover,
stock turns, or stock turnover. It is the number of times inventory is
sold or used during a given period. A higher figure means that a firm
is selling products quickly.
Resource-based View of Competitive Advantage -ANS--The strategic
thinking approach suggesting that if a firm is to maintain sustainable
competitive advantage, it must control an exploitable resource, or set
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,of resources, that have four critical characteristics. These resources
must be (1) valuable, (2) rare, (3) imperfectly imitable, and (4)
nonsubstitutable.
Augmented-Reality -ANS--A technology that superimposes content,
such as images and animation, on top of real-world images.
Internet of Things -ANS--a vision where low-cost sensors, processors,
and communication are embedded into a wide array of products and
our environment, allowing a vast network to collect at, analyze input,
and automatically coordinate collective action.
IPO -ANS--initial public stock offering, the first time a firm makes
shares available via a public stock exchange; "going public"
Sarbanes-Oxley Act -ANS--Sarbox or SOX; US Legislation enacted
in the wake of the accounting scandals of the early 2000s. The act
raises executive and board responsibility and ties criminal penalties to
certain accounting violations.
strategic positioning -ANS--performing different tasks than rivals, or
the same tasks in a different way
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, straddling -ANS--attempts to occupy more than one position, while
failing to match the benefits of a more efficient, singularly focused
rival
fast follower problem -ANS--exists when savvy rivals watch a
pioneer's efforts, learn from their successes and missteps, then enter
the market quickly with a comparable or superior product at a lower
cost before the first mover can dominate
Operational Effectiveness -ANS--Performing the same tasks better
than rivals perform them.
Dense Wave Division Multiplexing (DWDM) -ANS--A technology
that increases the transmission capacity (and hence speed) of fiber-
optic cable. Transmissions using fiber are accomplished by
transmitting light inside "glass" cables. The light inside fiber is split
into different wavelengths in a way similar to how a prism splits light
into different colors.
Scale Advantages -ANS--Advantages related to size.
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DEFINITIONS WITH CORRECT SOLUTIONS
LATEST UPDATE EXAM
commodity -ANS--A basic good that can be interchanged with nearly
identical offerings by others—think milk, coal, orange juice, or to a
lesser extent, Windows PCs and Android phones. The more
commoditized an offering, the greater the likelihood that competition
will be based on price.
Sustainable Competitive Advantage -ANS--Financial performance
that consistently outperforms industry averages.
Inventory Turns -ANS--Sometimes referred to as inventory turnover,
stock turns, or stock turnover. It is the number of times inventory is
sold or used during a given period. A higher figure means that a firm
is selling products quickly.
Resource-based View of Competitive Advantage -ANS--The strategic
thinking approach suggesting that if a firm is to maintain sustainable
competitive advantage, it must control an exploitable resource, or set
Page 1 of 30
,of resources, that have four critical characteristics. These resources
must be (1) valuable, (2) rare, (3) imperfectly imitable, and (4)
nonsubstitutable.
Augmented-Reality -ANS--A technology that superimposes content,
such as images and animation, on top of real-world images.
Internet of Things -ANS--a vision where low-cost sensors, processors,
and communication are embedded into a wide array of products and
our environment, allowing a vast network to collect at, analyze input,
and automatically coordinate collective action.
IPO -ANS--initial public stock offering, the first time a firm makes
shares available via a public stock exchange; "going public"
Sarbanes-Oxley Act -ANS--Sarbox or SOX; US Legislation enacted
in the wake of the accounting scandals of the early 2000s. The act
raises executive and board responsibility and ties criminal penalties to
certain accounting violations.
strategic positioning -ANS--performing different tasks than rivals, or
the same tasks in a different way
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, straddling -ANS--attempts to occupy more than one position, while
failing to match the benefits of a more efficient, singularly focused
rival
fast follower problem -ANS--exists when savvy rivals watch a
pioneer's efforts, learn from their successes and missteps, then enter
the market quickly with a comparable or superior product at a lower
cost before the first mover can dominate
Operational Effectiveness -ANS--Performing the same tasks better
than rivals perform them.
Dense Wave Division Multiplexing (DWDM) -ANS--A technology
that increases the transmission capacity (and hence speed) of fiber-
optic cable. Transmissions using fiber are accomplished by
transmitting light inside "glass" cables. The light inside fiber is split
into different wavelengths in a way similar to how a prism splits light
into different colors.
Scale Advantages -ANS--Advantages related to size.
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