Business Administration Seminar
Midterm Exam
Course Introduction
The Business Administration Seminar provides students with an opportunity to integrate and apply the knowledge gained throughout their business studies in a collaborative, discussion-based setting. Through case studies, group projects, presentations, and interactions with industry professionals, students will analyze contemporary issues in management, strategy, marketing, and operations. Emphasizing critical thinking, ethical decision-making, and effective communication, this seminar prepares participants for leadership roles and strategic problem-solving in various business environments.
Recommended Textbook
Strategic Management Concepts and Cases 1st Edition by Frank Rothaermel
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12 Chapters
1235 Verified Questions
1235 Flashcards
Source URL: https://quizplus.com/study-set/2540
Page 2
Chapter 1: What Is Strategy and Why Is It Important
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101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/50499
Sample Questions
Q1) Business strategy concerns the choice of strategy in terms of where to compete.
A)True
B)False
Answer: False
Q2) Explain how the small firm Threadless uses prosumers and crowdsourcing as an integral part of their business model.Please provide an example for each idea.
Answer: Prosumers-consumers are given the opportunity to design and create their own T-shirts.Once created,consumers then post their designs on the website.This ultimately makes the consumers the producers also,since only those shirts with community support (votes)are manufactured and sold by the firm. Crowdsourcing-Instead of outsourcing designs,Threadless relies on their "community" to make a decision on which designs they want on a T-shirt.Therefore,the firm only makes shirts that the online community has already said it will buy.
Explanation: This business model is likely to grow in usage in the coming years.
Q3) Competitive advantage is an absolute measure of superior firm performance.
A)True
B)False
Answer: False
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3
Chapter 2: The Strategic Management Process
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95 Verified Questions
95 Flashcards
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Sample Questions
Q1) Describe how a dominant strategic plan is used within the implementation stage.
Answer: A dominant strategic plan is the option that management thinks most accurately matches reality.If reality changes,they can implement another plan that was formed in the formulation stage.Performance in the marketplace acts as feedback for managers.
Explanation: The dominant strategic plan is a vital part of scenario planning.
Q2) A company's mission should be customer-oriented because this helps the firm retain flexibility in changing environments.
A)True
B)False
Answer: True
Q3) What is wrong with the following statement? "Intended strategies tend to be generated using a bottom-up approach."
A) Intended strategies are generated through emergent ideas.
B) Intended strategy is the final result of the AFI process.
C) Intended strategies lose the unrealized strategies along the process.
D) Intended strategies are generated using a top-down approach.
Answer: D
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4
Chapter 3: External Analysis: Industry Structure,
Competitive Forces, and Strategic Groups
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102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/50497
Sample Questions
Q1) Which of the following would NOT indicate that sellers are a strong competitive force?
A) Substitutes exist for their components.
B) They can supply the component for a cheaper cost than industry makers can produce it.
C) The buyers of their component are not important customers.
D) The component that they supply affects buyer product quality.
Answer: A
Q2) The soft drink industry has been one of the most profitable industries for years.There are two key competitors,Coke and Pepsi,who compete on product innovation and lifestyle advertising.Additionally,barriers to entry are high and supplier power is weak.Michael Porter calls this industry:
A) A positive-sum industry
B) A "five star" industry
C) A shining star industry
D) A complementary industry
Answer: B
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Chapter 4: Internal Analysis: Resources, Capabilities, and Activities
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102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/50496
Sample Questions
Q1) Intangible firm resources such as brand equity and corporate culture can be analyzed by what method?
A) Benchmarking
B) Resource stocks and resource flows
C) Activities and incremental outputs
D) A PESTEL analysis
Q2) Under the resource-based view of competitive advantage,firm resources such as intellectual knowledge and plant equipment are:
A) Assets that are key to superior firm performance.
B) Assets that may aid a firm but are not as important as the firm's strategic group.
C) Needed in order to achieve economies of scale.
D) Less important to competitive advantage than are resource immobility.
Q3) Performance differences that exist between rivals within the same industry are based primarily on the external environment.
A)True
B)False
Q4) What explanation does the chapter opener provide for the downfall of Circuit City?
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Chapter 5: Competitive Advantage and Firm Performance
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Under the accounting profitability framework to competitive advantage,comparing return on revenue (ROR)between companies is important because:
A) It adjusts for size differences and provides a relative comparison.
B) It reflects the firm's stock price.
C) It includes the value of the firm's intangible asset base.
D) All of these.
Q2) If Microsoft continues to outsell all other rivals in the smartphone industry for the next five years,it will have achieved a:
A) Parity advantage.
B) Sustained competitive advantage.
C) Competitive parity.
D) Competitive disadvantage.
Q3) What are the two types of opportunity costs a typical restaurant owner needs to consider when deciding whether to start a business?
First is the wages not earned if the owner was employed elsewhere.Second is the cost of capital invested into the business.What return in the stock market or interest rate in U.S.Treasuries would the money have made if it was invested there instead of in the store?
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Chapter 6: Business Strategy: Differentiation, Cost
Leadership, and Integration
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) A firm's strategic position is:
A) Determined by its business-level strategy.
B) Created through strategic trade-offs.
C) An attempt to create a large gap between value creation and costs.
D) All of these.
Q2) GM and Hyundai offer certain car models that directly compete with each other.Hyundai is able to produce their models at a lower cost while providing similar value at the same time.It can be said that:
A) GM and Hyundai have both achieved differentiation parity and competitive advantages.
B) GM has achieved differentiation parity and a competitive advantage over Hyundai.
C) Hyundai has achieved differentiation parity and a competitive advantage over GM.
D) Neither GM nor Hyundai have achieved differentiation parity since they are not in the same strategic group.
Q3) A firm's business-level strategy answers the question "Where should we compete?"
A)True
B)False
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Page 8
Chapter 7: Business Strategy: Innovation and Strategic Entrepreneurship
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/50493
Sample Questions
Q1) Gillette introducing updated versions of its razor is an example of which type of innovation?
A) Essential
B) Disruptive
C) Radical
D) Incremental
Q2) GE disrupted itself by:
A) Replacing the top levels of the executive hierarchy.
B) Using the needs of developing countries to replace older and more expensive products with newer and more adaptive ones.
C) Saturating the global market by having too many products in each market.
D) Losing strategic focus and not protecting its market share in health care technology.
Q3) The likelihood of a discontinuity occurring in an industry:
A) Is very strong if the industry produces simplified products.
B) Is very strong if the existing technology is close to its physical limit.
C) Is very weak unless the new technology is cheaper.
D) Cannot be predicted.
Q4) What are the strategic implications of "the long-tail phenomenon"?
Page 9
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Chapter 8: Corporate Strategy: Vertical Integration and Diversification
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110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/50492
Sample Questions
Q1) _____________ such as paying salaries and setting up a shop floor are internal transaction costs.
A) Administrative costs
B) Process costs
C) Explicit costs
D) Market costs
Q2) If a firm wishes to expand beyond a single market and grow through being active in several different countries,it is pursuing the _______________ diversification strategy.
A) Geographic
B) Global
C) Multi-country
D) Market expansion
Q3) When an employee of a firm follows his or her own interests such as pursuing managerial perks when performing activities on behalf of the owner of the firm,a(n)_______________ problem occurs.
A) Delegation excess
B) Principal-agent
C) Authority-excess
D) Agent efficiency
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Chapter 9: Corporate Strategy: Acquisitions, Alliances, and Networks
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103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/50491
Sample Questions
Q1) Hewlett-Packard is known as having made _____ to create long-term partnerships with several smaller technology firms co-located in Silicon Valley.
A) Knowledge-sharing routines
B) Relation-specific investments
C) Inter-firm trust
D) Identify partner compatibility
Q2) A(n)_____ is a social structure composed of multiple organizations and the links among the nodes.
A) Alliance network
B) Joint venture network
C) Strategic network
D) Social network
Q3) The combining of two firms of comparable size is often described as a(n)_____.
A) Acquisition
B) Joint venture
C) Equity alliance
D) Merger
Q4) Describe the pros and cons of a non-equity alliance.
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Q5) How does horizontal integration decrease competition? Please provide an example.
Chapter 10: Global Strategy: Competing Around the World
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Transnational strategy is quite appealing,but it is difficult to implement due to
A) The high cost of input factors
B) The diversified national culture
C) The lack of national institutions
D) Organizational complexities
Q2) In highly masculine cultures,general values are more toward each of the following EXCEPT:
A) Competitiveness
B) Assertiveness
C) The exercise of power
D) Cooperation
Q3) Which one of the following does NOT contribute to the rapid development of globalization?
A) Falling trade barriers
B) Advanced communication technology
C) Reductions in transportation costs
D) Increasing local tariffs
Q4) What are the components of Porter's national competitive advantage framework? Please briefly explain them.
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Chapter 11: Organizational Design: Structure, Culture, and Control
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/50489
Sample Questions
Q1) A matrix structure is the combination of the ______ and ______ structure.
A) Simple; functional
B) Functional; M-form
C) M-form; network
D) Simple; network
Q2) What are the characteristics of organic organizations? What are the examples?
Q3) Managers using M-form structures to support a(n)__________ strategy should decentralize decision making.
A) Single business
B) Domain business
C) Related diversification
D) Unrelated diversification
Q4) __________ describes the degree to which a task is divided into separate jobs.
A) Specialization
B) Formalization
C) Centralization
D) Hierarchy
Q5) When leadership changes,so does the company's culture.
A)True
B)False
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Chapter 12: Corporate Governance, Business Ethics, and Strategic Leadership
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101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/50488
Sample Questions
Q1) The risk of employee opportunism on behalf of agents is exacerbated by _______.
A) Information asymmetry
B) Isomorphism
C) Network effect
D) Groupthink
Q2) A firm's effective stakeholder management can ___________.
A) Reduce negative outcomes and risks
B) Induce information inflow
C) Build a strong reputation
D) All of these
Q3) What best describes the separation of ownership and control?
A) Shareholders own stocks but do not run the company.
B) Shareholders can freely trade the company stocks.
C) Shareholders provide necessary information to the company.
D) Managers control the company but may also have stock ownership.
Q4) What are the benefits of effective stakeholder management?
Q5) Explain the major components of corporate social responsibility.
Q7) What are the basic solutions to the "agency problem"? Page 14
Q6) In what ways is corporate governance related to strategy formulation and implementation?
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