MBA 705 - Ch 1 and 2 Exam #1 Questions with Correct Answers
Blockholders - ✔✔Large shareholders who monitor firm strategies to ensure
effective management.
Business Model - ✔✔The economic mechanism by which a business hopes to sell
its goods or services and generate a profit.
CEO Duality - ✔✔A situation in which the CEO also serves as the chair of the
board.
Comparative Advantage - ✔✔The idea that certain products may be produced
more cheaply or at a higher quality in particular countries due to advantages in
labor costs or technology.
Competitive Advantage - ✔✔A state whereby a business unit's successful
strategies cannot be easily duplicated by its competitors.
Contingency Theory - ✔✔A view that states the most profitable firms are likely to
be the ones that develop the best fit with their environment.
Corporate Governance - ✔✔The board of directors, institutional investors, and
blockholders who monitor firm strategies to ensure managerial responsiveness.
Distinctive Competence - ✔✔Unique resources, skills, and capabilities that enable
a firm to distinguish itself from its competitors and create competitive advantage.
Blockholders - ✔✔Large shareholders who monitor firm strategies to ensure
effective management.
Business Model - ✔✔The economic mechanism by which a business hopes to sell
its goods or services and generate a profit.
CEO Duality - ✔✔A situation in which the CEO also serves as the chair of the
board.
Comparative Advantage - ✔✔The idea that certain products may be produced
more cheaply or at a higher quality in particular countries due to advantages in
labor costs or technology.
Competitive Advantage - ✔✔A state whereby a business unit's successful
strategies cannot be easily duplicated by its competitors.
Contingency Theory - ✔✔A view that states the most profitable firms are likely to
be the ones that develop the best fit with their environment.
Corporate Governance - ✔✔The board of directors, institutional investors, and
blockholders who monitor firm strategies to ensure managerial responsiveness.
Distinctive Competence - ✔✔Unique resources, skills, and capabilities that enable
a firm to distinguish itself from its competitors and create competitive advantage.
