7/4/25, 9:44
PM
MBA 703 GHERFAL MIDTERM EXAM ACTUAL QUESTIONS
AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
LATEST UPDATE 2025/2026 GRADED A++
Terms in this set (113)
Federal legislation passed in 2002 that sets higher ethical
Sarbanes-Oxley Act standards for public
corporations and accounting firms. Key provisions limit
conflict-of-interest issues and require financial officers
and CEOs to certify the validity of their financial
statements.
Technology is impacting finance, accounting, marketing, operations, human resources, and
every major business the law.
discipline including?
sustainable competitive financial performance that consistently outperforms their
advantage industry peers
Operational effectiveness refers to performing the same tasks better than rivals perform
them
exists when savvy rivals watch a pioneer's efforts, learn
fast follower problem from their successes and missteps, then enter the
market quickly with a comparable or superior product at
a lower cost
refers to performing different activities from those of
strategic positioning
rivals, or the same activities in a different way.
The number of times inventory is sold or used during
Inventory Turns
a specific period (such as a year or quarter). A higher
figure means a firm is selling products quickly.
what are the 4 (1) valuable, (2) rare, (3) imperfectly imitable (tough to
characteristics of the imitate), and (4) non- substitutable
resource-based view of
1/
9
, 7/4/25, 9:44
PM
competitive advantage
a technology that enabled existing fiber to carry
dense wave division
more transmissions than ever before
multiplexing (DWDM)
a way of doing business that others will struggle to replicate, and
imitation-resistant value chain in nearly every
successful effort of this kind, technology plays a key
enabling role. The value chain is the set of interrelated
activities that bring products or services to market
the part of the primary value chain that involves getting
Inbound logistics
needed materials and other inputs into the firm from
suppliers
the part of the primary value chain that involves turning
Operations
inputs into products or services
the part of the primary value chain that involves
Outbound logistics
delivering products or services to consumers,
distribution centers, retailers, or other partners
the part of the primary value chain that involves
Marketing and sales
customer engagement, pricing, promotion, and
transaction
the part of the primary value chain that involves service,
Support
maintenance, and customer support
the part of the secondary value chain that involves
Firm infrastructure
functions that support the whole firm, including general
management, planning, IS, and finance
the part of the secondary value chain that involves
Human resource management
recruiting, hiring, training, and development
Technology / research and the part of the secondary value chain that involves new product
development and process design
the part of the secondary value chain that involves
Procurement
sourcing and purchasing functions
the symbolic embodiment of all the information
brand connected with a product or service, a strong one
can also be an exceptionally powerful resource
2/
9
PM
MBA 703 GHERFAL MIDTERM EXAM ACTUAL QUESTIONS
AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
LATEST UPDATE 2025/2026 GRADED A++
Terms in this set (113)
Federal legislation passed in 2002 that sets higher ethical
Sarbanes-Oxley Act standards for public
corporations and accounting firms. Key provisions limit
conflict-of-interest issues and require financial officers
and CEOs to certify the validity of their financial
statements.
Technology is impacting finance, accounting, marketing, operations, human resources, and
every major business the law.
discipline including?
sustainable competitive financial performance that consistently outperforms their
advantage industry peers
Operational effectiveness refers to performing the same tasks better than rivals perform
them
exists when savvy rivals watch a pioneer's efforts, learn
fast follower problem from their successes and missteps, then enter the
market quickly with a comparable or superior product at
a lower cost
refers to performing different activities from those of
strategic positioning
rivals, or the same activities in a different way.
The number of times inventory is sold or used during
Inventory Turns
a specific period (such as a year or quarter). A higher
figure means a firm is selling products quickly.
what are the 4 (1) valuable, (2) rare, (3) imperfectly imitable (tough to
characteristics of the imitate), and (4) non- substitutable
resource-based view of
1/
9
, 7/4/25, 9:44
PM
competitive advantage
a technology that enabled existing fiber to carry
dense wave division
more transmissions than ever before
multiplexing (DWDM)
a way of doing business that others will struggle to replicate, and
imitation-resistant value chain in nearly every
successful effort of this kind, technology plays a key
enabling role. The value chain is the set of interrelated
activities that bring products or services to market
the part of the primary value chain that involves getting
Inbound logistics
needed materials and other inputs into the firm from
suppliers
the part of the primary value chain that involves turning
Operations
inputs into products or services
the part of the primary value chain that involves
Outbound logistics
delivering products or services to consumers,
distribution centers, retailers, or other partners
the part of the primary value chain that involves
Marketing and sales
customer engagement, pricing, promotion, and
transaction
the part of the primary value chain that involves service,
Support
maintenance, and customer support
the part of the secondary value chain that involves
Firm infrastructure
functions that support the whole firm, including general
management, planning, IS, and finance
the part of the secondary value chain that involves
Human resource management
recruiting, hiring, training, and development
Technology / research and the part of the secondary value chain that involves new product
development and process design
the part of the secondary value chain that involves
Procurement
sourcing and purchasing functions
the symbolic embodiment of all the information
brand connected with a product or service, a strong one
can also be an exceptionally powerful resource
2/
9
