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BCOR 2304 quiz 1 Questions and Correct
Answers/ Latest Update / Already Graded
What is strategy?
Ans: a comprehensive, goal oriented plan a firm takes to gain
and sustain superior performance relative to competitors
A firm that is able to outperform its competitors or the industry
average over a prolonged period has a
_________________________________
Ans: sustainable competitive advantage
Strategy Framework
Ans: Analysis: diagnosis of competitive challenge
Formulation: a guiding policy
Implementation: coherent actions
Analysis
Ans: vision, mission, values
external/internal values
Formulation
All rights reserved © 2025/ 2026 |
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Ans: Corporate Strategy
Business Strategy
Functional Strategy
Implementation
Ans: structure, culture, and control
corporate governance and business ethics
Realized Strategy
Ans: combination of intended (top down) and emergent
(bottom up) strategy
Shareholder value
Ans: profit vs profitability
profitability
Ans: economics gains in excess of what could be expected from
other investments with a similar amount of risk
stakeholder value
All rights reserved © 2025/ 2026 |
, Page |3
Ans: value creation
what undermines the success of firms?
Ans: neoclassical economics perspective: profits are competed
away because it is easy to enter industries (no entry to barriers)
and imitate competitors (homogenous firms)
Porter's Five Forces
Ans: threat of entry, threat of substitute, supplier power, buyer
power, and competitive rivalry
the general environment: PESTEL
Ans: Political
Economic
Social
Technological
Environmental
Legal
Oppportunities
All rights reserved © 2025/ 2026 |
BCOR 2304 quiz 1 Questions and Correct
Answers/ Latest Update / Already Graded
What is strategy?
Ans: a comprehensive, goal oriented plan a firm takes to gain
and sustain superior performance relative to competitors
A firm that is able to outperform its competitors or the industry
average over a prolonged period has a
_________________________________
Ans: sustainable competitive advantage
Strategy Framework
Ans: Analysis: diagnosis of competitive challenge
Formulation: a guiding policy
Implementation: coherent actions
Analysis
Ans: vision, mission, values
external/internal values
Formulation
All rights reserved © 2025/ 2026 |
, Page |2
Ans: Corporate Strategy
Business Strategy
Functional Strategy
Implementation
Ans: structure, culture, and control
corporate governance and business ethics
Realized Strategy
Ans: combination of intended (top down) and emergent
(bottom up) strategy
Shareholder value
Ans: profit vs profitability
profitability
Ans: economics gains in excess of what could be expected from
other investments with a similar amount of risk
stakeholder value
All rights reserved © 2025/ 2026 |
, Page |3
Ans: value creation
what undermines the success of firms?
Ans: neoclassical economics perspective: profits are competed
away because it is easy to enter industries (no entry to barriers)
and imitate competitors (homogenous firms)
Porter's Five Forces
Ans: threat of entry, threat of substitute, supplier power, buyer
power, and competitive rivalry
the general environment: PESTEL
Ans: Political
Economic
Social
Technological
Environmental
Legal
Oppportunities
All rights reserved © 2025/ 2026 |
