MANA 4322: Mid-Term Quiz 1 Tests
and All Correct Answers 2025-2026
Updated.
Which strategy applies to products and markets? - Answer Business-level strategy
Which strategy applies to organizations and industries? - Answer Corporate-level strategy
What comprises the "general" environment? - Answer Economic
Social
Governmental
Technological (Infrastructure)
Natural
International
What are the 4 duties of leadership? - Answer 1. Accomplish organizational mission and
vision.
2. Involve all relevant stakeholders
3. Balance trade-off between effectiveness and efficiency.
4. Plan for short- and long-run, simultaneously.
The most valuable and important stakeholders implement the Value Chain; Vendors and
customers support it, and Owners and investors fund it.
What is the case study method? - Answer 1. Problem/Opportunity statement - Define the
problem
2. Internal Issues - People, processes, place
3. External Issues - The "general" environment
4. Alternatives - Use SWOT to determine alternatives
5. Recommendations
6. Implementations
7. Control
What is a logic model? - Answer Inputs (what), Outputs (how), Outcomes (why)
,Inputs determine outputs and outputs determine outcomes.
What are inputs (what) in the logic model? - Answer People (culture), Administrative
Processes, Technological Processes, Place (structure)
What are outputs (how) in the logic model? - Answer New product, new production method,
new means for supply, new market, new enterprise
What are the outcomes (why) in the logic model? - Answer Tactical implementation &
control, market share, inelastic demand, best available stakeholders
What are strategic "SMART" objectives? - Answer 1. Specific - Clear message on what needs
to be established
2. Measurable - at least one indicator that measures progress
3. Appropriate - must be consistent with organization's vision/mission
4. Realistic - it must be challenging but doable
5. Timely - must be a timeframe for achieving objective
What is product differentiation? - Answer Innovation form = New product
Implies a change in features, attributes and benefits that better align with behaviors based on
values, beliefs and attitudes exhibited by the target audience or market segments
What does inelastic demand mean? - Answer The change in quantity demanded due to a
change in price is small
What can create competitive advantage? - Answer Monopolistic competition - Many sellers,
product differentiation, market share.
or
Oligopoly - price setting due to inelastic demand. Few sellers, high barriers.
What is a monopoly? - Answer One seller, no competition
What is business-level strategy? - Answer Business-level = how to compete in those
industries
, Business-level strategy comprises product differentiation, production method, and means for
supply that could create new markets or new organizations
What is corporate-level strategy? - Answer Corporate = what industries the business should
be in
Corporate-level strategy involves other organizations we can contract with (joint ventures,
alliances) or invest in (acquisition, merger).
Divestment is also a corporate strategy where we may eliminate strategic business units related
to specific products, production methods, or means for supply.
_______ causes _______ ? - Answer Effectiveness causes efficiency, not the reverse
What is not enough to sustain competitive advantage? - Answer Operational effectiveness
What does SWOT stand for? - Answer Strength, Weakness, Opportunities, Threats
What are the 5 factors of production? - Answer 0. Time
1. Leadership, Entrepreneurs, Intrapreneurs, Human Captial
2. Financial resources
3. Natural resources
4. Human resources
5. Technology
What does inductive mean? - Answer BCA or CAB
What does deductive mean? - Answer ABC or CBA
What falls under the technological sector in the "general" environment? - Answer Electric
grid, Internet technology, Highway and airport transportation systems
*Infrastructure is available to all within and across the political-economy (nation)
What are intangible resources? - Answer Leadership and human capital
and All Correct Answers 2025-2026
Updated.
Which strategy applies to products and markets? - Answer Business-level strategy
Which strategy applies to organizations and industries? - Answer Corporate-level strategy
What comprises the "general" environment? - Answer Economic
Social
Governmental
Technological (Infrastructure)
Natural
International
What are the 4 duties of leadership? - Answer 1. Accomplish organizational mission and
vision.
2. Involve all relevant stakeholders
3. Balance trade-off between effectiveness and efficiency.
4. Plan for short- and long-run, simultaneously.
The most valuable and important stakeholders implement the Value Chain; Vendors and
customers support it, and Owners and investors fund it.
What is the case study method? - Answer 1. Problem/Opportunity statement - Define the
problem
2. Internal Issues - People, processes, place
3. External Issues - The "general" environment
4. Alternatives - Use SWOT to determine alternatives
5. Recommendations
6. Implementations
7. Control
What is a logic model? - Answer Inputs (what), Outputs (how), Outcomes (why)
,Inputs determine outputs and outputs determine outcomes.
What are inputs (what) in the logic model? - Answer People (culture), Administrative
Processes, Technological Processes, Place (structure)
What are outputs (how) in the logic model? - Answer New product, new production method,
new means for supply, new market, new enterprise
What are the outcomes (why) in the logic model? - Answer Tactical implementation &
control, market share, inelastic demand, best available stakeholders
What are strategic "SMART" objectives? - Answer 1. Specific - Clear message on what needs
to be established
2. Measurable - at least one indicator that measures progress
3. Appropriate - must be consistent with organization's vision/mission
4. Realistic - it must be challenging but doable
5. Timely - must be a timeframe for achieving objective
What is product differentiation? - Answer Innovation form = New product
Implies a change in features, attributes and benefits that better align with behaviors based on
values, beliefs and attitudes exhibited by the target audience or market segments
What does inelastic demand mean? - Answer The change in quantity demanded due to a
change in price is small
What can create competitive advantage? - Answer Monopolistic competition - Many sellers,
product differentiation, market share.
or
Oligopoly - price setting due to inelastic demand. Few sellers, high barriers.
What is a monopoly? - Answer One seller, no competition
What is business-level strategy? - Answer Business-level = how to compete in those
industries
, Business-level strategy comprises product differentiation, production method, and means for
supply that could create new markets or new organizations
What is corporate-level strategy? - Answer Corporate = what industries the business should
be in
Corporate-level strategy involves other organizations we can contract with (joint ventures,
alliances) or invest in (acquisition, merger).
Divestment is also a corporate strategy where we may eliminate strategic business units related
to specific products, production methods, or means for supply.
_______ causes _______ ? - Answer Effectiveness causes efficiency, not the reverse
What is not enough to sustain competitive advantage? - Answer Operational effectiveness
What does SWOT stand for? - Answer Strength, Weakness, Opportunities, Threats
What are the 5 factors of production? - Answer 0. Time
1. Leadership, Entrepreneurs, Intrapreneurs, Human Captial
2. Financial resources
3. Natural resources
4. Human resources
5. Technology
What does inductive mean? - Answer BCA or CAB
What does deductive mean? - Answer ABC or CBA
What falls under the technological sector in the "general" environment? - Answer Electric
grid, Internet technology, Highway and airport transportation systems
*Infrastructure is available to all within and across the political-economy (nation)
What are intangible resources? - Answer Leadership and human capital
