BUSI 4940- Test 1 Kenneth Cory, Exam
2 - Dr. Cory Final Questions and All
Actual Answers 2025-2026 Updated.
Complementors - Answer companies or networks of companies that sell complementary
goods or services that are compatible with the focal firm's good or service
General Environment - Answer composed of dimensions in the broader society that
influence an industry and the firms within it
Industry Environment - Answer the set of factors that directly influences a firm and its
competitive actions and responses: the threat of new entrants, the power of suppliers, the
power of buyers, the threat of product substitutes, and the intensity of rivalry among
competing firms
opportunity - Answer a condition in the general environment that, if exploited effectively,
helps a company reach strategic competitiveness
strategic group - Answer a set of firms emphasizing similar strategic dimensions and using a
similar strategy
threat - Answer a condition in the general environment that may hinder a company's efforts
to achieve strategic competitiveness
above-average returns - Answer returns in excess of what an investor expects to earn from
other investments with a similar amount of risk
Average Returns - Answer are returns equal to those an investor expects to earn from other
investments possessing a similar amount of risk
capability - Answer the capacity for a set of resources to perform a task or an activity in an
integrative manner
competitive advantage - Answer implementing a chosen strategy, it creates superior value
for customers and when competitors are not able to imitate the value the firm's products create
or find it too expensive to attempt imitation
, global economy - Answer one in which goods, services, people, skills, and ideas move freely
across geographic borders
Hypercompetition - Answer condition where competitors engage in intense rivalry, markets
change quickly and often, and entry barriers are low
organizational culture - Answer refers to the complex set of ideologies, symbols, and core
values that are shared throughout the firm and that influence how the firm conducts business
Resources - Answer inputs into a firm's production process, such as capital equipment, the
skills of individual employees, patents, finances, and talented managers
risk - Answer investor's uncertainty about the economic gains or losses that will result from a
particular investment
Stakeholders - Answer are the individuals, groups, and organizations that can affect the
firm's vision and mission, are affected by the strategic outcomes achieved, and have enforceable
claims on the firm's performance
strategic flexibility - Answer -a set of capabilities used to respond to various demands and
opportunities existing in a dynamic and uncertain competitive environment
-must first overcome built-up organizational inertia
Father of strategic planning - Answer Igor Ansoff
Globalization - Answer is the increasing economic interdependence among countries and
their organizations as reflected in the flow of products, financial capital, and knowledge across
country borders
technology diffusion - Answer the speed at which new technologies become available and
are used
Perpetual Innovation - Answer term used to describe how rapidly and consistently new,
information-intensive technologies replace older ones
disruptive technologies - Answer technologies that destroy the value of an existing
technology and create new markets
2 - Dr. Cory Final Questions and All
Actual Answers 2025-2026 Updated.
Complementors - Answer companies or networks of companies that sell complementary
goods or services that are compatible with the focal firm's good or service
General Environment - Answer composed of dimensions in the broader society that
influence an industry and the firms within it
Industry Environment - Answer the set of factors that directly influences a firm and its
competitive actions and responses: the threat of new entrants, the power of suppliers, the
power of buyers, the threat of product substitutes, and the intensity of rivalry among
competing firms
opportunity - Answer a condition in the general environment that, if exploited effectively,
helps a company reach strategic competitiveness
strategic group - Answer a set of firms emphasizing similar strategic dimensions and using a
similar strategy
threat - Answer a condition in the general environment that may hinder a company's efforts
to achieve strategic competitiveness
above-average returns - Answer returns in excess of what an investor expects to earn from
other investments with a similar amount of risk
Average Returns - Answer are returns equal to those an investor expects to earn from other
investments possessing a similar amount of risk
capability - Answer the capacity for a set of resources to perform a task or an activity in an
integrative manner
competitive advantage - Answer implementing a chosen strategy, it creates superior value
for customers and when competitors are not able to imitate the value the firm's products create
or find it too expensive to attempt imitation
, global economy - Answer one in which goods, services, people, skills, and ideas move freely
across geographic borders
Hypercompetition - Answer condition where competitors engage in intense rivalry, markets
change quickly and often, and entry barriers are low
organizational culture - Answer refers to the complex set of ideologies, symbols, and core
values that are shared throughout the firm and that influence how the firm conducts business
Resources - Answer inputs into a firm's production process, such as capital equipment, the
skills of individual employees, patents, finances, and talented managers
risk - Answer investor's uncertainty about the economic gains or losses that will result from a
particular investment
Stakeholders - Answer are the individuals, groups, and organizations that can affect the
firm's vision and mission, are affected by the strategic outcomes achieved, and have enforceable
claims on the firm's performance
strategic flexibility - Answer -a set of capabilities used to respond to various demands and
opportunities existing in a dynamic and uncertain competitive environment
-must first overcome built-up organizational inertia
Father of strategic planning - Answer Igor Ansoff
Globalization - Answer is the increasing economic interdependence among countries and
their organizations as reflected in the flow of products, financial capital, and knowledge across
country borders
technology diffusion - Answer the speed at which new technologies become available and
are used
Perpetual Innovation - Answer term used to describe how rapidly and consistently new,
information-intensive technologies replace older ones
disruptive technologies - Answer technologies that destroy the value of an existing
technology and create new markets
