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Kreft G202 Assessment 1 Questions and
Correct Answers
BP made two strategic acquisitions: Ans: ARCO (oil and gas) and
SOLAREX (solar energy)
Competition in the marketplace tends to school managers to think
in terms of Ans: outcomes (profits, sales, market share)
In interactions with non-market players, Ans: processes gain in
relative importance (oversight, quality assurance, social
reputation)
Corporate Social Strategy Ans: Integrate non-market forces
(Political, Economic, Social, and Technological) and societal
concerns into your market strategy.
PEST framework Ans: Non-market strategy -> firm and market
strategy -> Integrated corporate social strategy
Do customers care about about the brand of Oil and Gas? Ans:
No, gas is a commodity
Do employees care about the reputation of who they work for?
Ans: Employees want to work for the industry leader, not the
industry laggard
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Do investors care about the social reputation of who they invest
in? Ans: Socially-responsible investors care; they want high
returns with no guilt
Industry leaders influence: Ans: if new policy is written and shape
how it is written
Beyond Petroleum resulted in: Ans: heightened public
expectations, especially from non-governmental organization
(NGO-activists)
BP created "shared value" by Ans: integrating societal concerns
over fossil fuels with their core market strategy
Integrating societal concerns can Ans: maximize profits
Lobbying/rent seeking Ans: devoting resources to influence public
policy formation in order to bring more income to your interests
Function of lobbyists Ans: find political opportunities and threats,
inform politicians and influence public opinion, form coalitions:
identify groups with 'similar' interests
Special interest effect Ans: small group of people, with incentive
to take political action, receive benefits at the expense of a large
unorganized group of people
© 2025 All rights reserved
Kreft G202 Assessment 1 Questions and
Correct Answers
BP made two strategic acquisitions: Ans: ARCO (oil and gas) and
SOLAREX (solar energy)
Competition in the marketplace tends to school managers to think
in terms of Ans: outcomes (profits, sales, market share)
In interactions with non-market players, Ans: processes gain in
relative importance (oversight, quality assurance, social
reputation)
Corporate Social Strategy Ans: Integrate non-market forces
(Political, Economic, Social, and Technological) and societal
concerns into your market strategy.
PEST framework Ans: Non-market strategy -> firm and market
strategy -> Integrated corporate social strategy
Do customers care about about the brand of Oil and Gas? Ans:
No, gas is a commodity
Do employees care about the reputation of who they work for?
Ans: Employees want to work for the industry leader, not the
industry laggard
© 2025 All rights reserved
, 2 | Page
Do investors care about the social reputation of who they invest
in? Ans: Socially-responsible investors care; they want high
returns with no guilt
Industry leaders influence: Ans: if new policy is written and shape
how it is written
Beyond Petroleum resulted in: Ans: heightened public
expectations, especially from non-governmental organization
(NGO-activists)
BP created "shared value" by Ans: integrating societal concerns
over fossil fuels with their core market strategy
Integrating societal concerns can Ans: maximize profits
Lobbying/rent seeking Ans: devoting resources to influence public
policy formation in order to bring more income to your interests
Function of lobbyists Ans: find political opportunities and threats,
inform politicians and influence public opinion, form coalitions:
identify groups with 'similar' interests
Special interest effect Ans: small group of people, with incentive
to take political action, receive benefits at the expense of a large
unorganized group of people
© 2025 All rights reserved
