Bus 321The Business Strategy BSG Exam 1
Question and Answer
University of phoneix
1.Strategic Competitiveness correct answer When a firm successfully formulates and implements a
value- creating strategy.
2.Strategy correct answer An integrated and coordinated set of commitment and actions designed to
exploit core competencies and gain a competitive advantage.
3.Competitive Advantage correct answer When a firm implements a strategy that its competitors are
unable to duplicate or find too costly to try to imitate.
4.Risk correct answer An investor's uncertainty about the economic gains or losses that will result from
a particular event.
5.Average Returns correct answer Returns equal to those an investor expects to earn from other
investments with a similar amount of risk.
Above-average returns correct answer Returns in excess of what an investor expects to earn from other
investments with a similar amount.
6.Strategic Management Process correct answer A full set of commitments, decisions, and actions
required for a firm to achieve strategic competitiveness.
7.Dominance of the External Environment correct answer Industry in which a firm competes has a
stronger influence on the firm's performance that do the choices managers make inside their
organizations.
8. Assumptions of the I/O Model correct answer External environment imposes pressures and
constraints that determine strategies leading to above average returns.
Most firms competing in an industry control similar strategically relevant resources and pursue similar
, strategies.
Resources used to implement strategies are highly mobile across firms.
Question and Answer
University of phoneix
1.Strategic Competitiveness correct answer When a firm successfully formulates and implements a
value- creating strategy.
2.Strategy correct answer An integrated and coordinated set of commitment and actions designed to
exploit core competencies and gain a competitive advantage.
3.Competitive Advantage correct answer When a firm implements a strategy that its competitors are
unable to duplicate or find too costly to try to imitate.
4.Risk correct answer An investor's uncertainty about the economic gains or losses that will result from
a particular event.
5.Average Returns correct answer Returns equal to those an investor expects to earn from other
investments with a similar amount of risk.
Above-average returns correct answer Returns in excess of what an investor expects to earn from other
investments with a similar amount.
6.Strategic Management Process correct answer A full set of commitments, decisions, and actions
required for a firm to achieve strategic competitiveness.
7.Dominance of the External Environment correct answer Industry in which a firm competes has a
stronger influence on the firm's performance that do the choices managers make inside their
organizations.
8. Assumptions of the I/O Model correct answer External environment imposes pressures and
constraints that determine strategies leading to above average returns.
Most firms competing in an industry control similar strategically relevant resources and pursue similar
, strategies.
Resources used to implement strategies are highly mobile across firms.
