Business Administration Seminar
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Course Introduction
The Business Administration Seminar is an advanced, interactive course designed to synthesize key concepts and practices in business management. Through case studies, group discussions, and expert guest lectures, students will explore contemporary issues such as leadership, organizational behavior, strategic decision-making, and ethical challenges in business environments. The seminar emphasizes critical thinking, effective communication, and collaborative problem-solving, preparing students to analyze complex scenarios and propose innovative solutions. The course also provides opportunities for professional development, encouraging students to connect theoretical learning with real-world business situations.
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Strategic Management Concepts BRV 1st Edition by
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Page 2
Jeffrey H. Dyer
Chapter 1: What Is Business Strategy?
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Sample Questions
Q1) The management of Winters Corp., a small company, pursued an unexpected opportunity and gained huge profits over a period of 10 years.At the end of this period, Winters Corp.grew as a company and successfully established itself as a highly valued brand in the industry.This is an example of a(n) _____.
A) functional strategy
B) accidental strategy
C) emergent strategy
D) deliberate strategy
Answer: C
Q2) Which of the following is the main purpose of a strategic management process?
A) Ensuring that all employees have managers and supervisors to lead their teams
B) Creating an organization that functions systematically according to its vision, mission, and goals
C) Creating a high-level plan that can be implemented without fierce competition and undue risk
D) Specifying a high-level plan that an organization will employ to achieve competitive advantage
Answer: D
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Chapter 2: Analysis of the External Environment: Opportunities and Threats
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Q1) The airline industry is a profitable industry.The firms in this industry create barriers to entry through patents and regulations in order to reduce the threat of new entrants.It also minimizes the threat of substitutes while keeping rivalry to a minimum.The airline industry can be best categorized as a(n):
A) attractive industry.
B) unattractive industry.
C) fragmented industry.
D) concentrated industry.
Answer: A
Q2) CharmingBells Inc.has been running into a loss gradually, but the board of directors are reluctant to shut the company down because it has invested millions of dollars' worth of equipment which can only be used in that industry.Moreover, the people in CharmingBells Inc.have become emotionally attached to the company and do not want the company completely shut down.This scenario best illustrates _____.
A) high fixed costs
B) used production capacity
C) high exit barriers
D) unused production capacity
Answer: C
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Chapter 3: Internal Analysis: Strengths, Weaknesses, and Competitive Advantage
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Q1) Define rarity and explain how it creates competitive advantage.
Answer: Something that is rare, is to be uncommon, or not available to other competitors.Competitive advantages arise when resources or capabilities possess two attributes:value and rarity.Unique is often used as a synonym for rare.Rare or unique resources create competitive advantage through a basic principle of economics-scarcity.When products or services are scarce, users are often willing to pay a higher price for them than they would be if the same products or services were more commonly available, leading to higher company profits.
Q2) A visual description of the steps required to turn raw materials into finished products and/or services most accurately defines the term _____.
A) virtuous circle
B) culture chain
C) value chain
D) product line
Answer: C
Q3) The characteristics that make a resource or capability difficult to imitate is known as _____.
Answer: inimitability
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Chapter 4: Cost Advantage
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Q1) Which of the following is a primary characteristic of employing automated equipment in a company with high levels of production?
A) They help employees to acquire specialized knowledge that helps them complete tasks more efficiently.
B) The general and administrative costs would be high for large companies.
C) They do not help in spreading out the fixed cost of production.
D) Large companies can reduce per-unit cost of production.
Q2) Mention the four ways that companies achieve cost advantage through lower-cost inputs and explain bargaining power over suppliers.
Q3) Lavender Inc., a computer manufacturing company, sells its products at costs that are lesser than its competitors as it wishes to gain profits in order to cover more of the competitive market.The company follows this method as it has high unit volumes.The scenario best illustrates the _____.
A) acquisition strategy
B) cost-management strategy
C) pricing strategy
D) investment strategy
Q4) Define the cost advantage strategy and its characteristics.
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Chapter 5: Differentiation Advantage
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Q1) _____ occur(s) when some products or services are more convenient to use because there is a large network of other users.
A) Network ethics
B) Network effects
C) Network latency
D) Network virtualization
Q2) Which of the following questions denotes the last step in a consumption chain?
A) How do consumers find your offering?
B) How is your product stored/moved around?
C) How is your product repaired, serviced, or disposed of?
D) How is your product/service delivered?
Q3) When products are differentiated through marketing, via advertisements, promotions, and other marketing activities, it is known as _____.
A) brand availability
B) brand conflict
C) brand image
D) brand loyalty
Q4) Explain product differentiation.
Q5) What is customer segmentation? Mention the three types of customer segmentation.
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Chapter 6: Corporate Strategy
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Q1) The search for competitive advantage within a single industry, market, or line of business best defines the term _____.
A) complementary service strategy
B) corporate strategy
C) business unit strategy
D) cost advantage strategy
Q2) What are the two challenges related to acquisition premium that an acquiring firm faces when acquiring a target firm?
Q3) Azure LLC is a toy manufacturing company.The company has recently started manufacturing industrial wiring for construction companies.In this scenario, Azure LLC has chosen _____.
A) related diversification
B) unrelated diversification
C) related-linked diversification
D) related-constrained diversification
Q4) How does diversification help exploit existing customer-facing resources?
Q5) Mention the factors that lead to destroying value through diversification.Explain any three of them.
Q6) In vertical integration, movement in the direction of raw materials is _____.
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Chapter 7: Vertical Integration and Outsourcing
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Q1) In the context of vertical integration, when is flexibility most valuable?
Q2) Which of the following examples correctly depicts a company that uses a transaction-specific asset?
A) Indigo Inc., a company that manufactures faucets
B) Eclipse Corp., a company that manufactures pens and sells them through distributors
C) BLC Corp., a company that uses heavily customized software to manufacture airplane seats
D) Vertigo LLC, a company that sources raw material from suppliers to manufacture dinnerware
Q3) In the context of coordination, what is modular interdependence?
Q4) When one firm tries to take advantage of another firm that has made a transaction-specific investment, by causing a brief delay in business because a product has no other use is known as a(n) _____.
Q5) Briefly state the difference between outsourcing and insourcing.
Q6) Explain the three Cs of vertical integration.
Q7) What is the main difference between a company that is vertically integrated and a company that is vertically specialized?
Q8) What are some of the advantages of outsourcing?
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Chapter 8: Strategic Alliances
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Q1) Pearltech Inc., an information technology company, decides to establish a business alliance in order to differentiate its products.The manager of research and development, Sanah, is willing to form an alliance only with individuals she has known for a long time or a company within Pearltech's business network.Nate, the operations head, suggests extending the prospects by looking outside their usual network.Which of the following statements strengthens Sanah's argument?
A) Firms within the network could result in inbreeding of ideas.
B) Firms within the network prevent against opportunism.
C) Firms outside the network widen the scope of research solutions.
D) New partners bring in unique skills that add value to the product.
Q2) An organization forms an alliance contract.It specifies in detail the duties and obligations of each of the partners, how the profits are to be split by the partners, and the process by which disputes will be resolved.Which of the following clauses is likely to cover the duties and obligations of the partners, including warranties and minimum output levels required to satisfy the contract?
A) Residual rights clause
B) Voting rights clause
C) Performance clause
D) Dispute clause
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Chapter 9: International Strategy
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Q1) Which of the following statements is true about multidomestic strategy?
A) It tailors products and operations to individual markets.
B) It prefers to standardize products to achieve economies of scale.
C) It does not allow regional managers to make decisions on their own.
D) It enables firms to easily develop a worldwide competitive advantage.
Q2) In the context of modes of international market entry, which of the following statements is true of a joint venture?
A) It is a favored way to enter markets that are close to the home market.
B) It involves cultural barriers that increase the difficulty of operations.
C) It avoids sharing resources, risks, and rewards.
D) It offers the least amount of control of all the various modes of entry.
Q3) Granting another business the permission to use or sell a firm's product, technology, or process is called _____.
Q4) In the context of modes of international market entry, which of the following statements is true of licensing and franchising?
A) It offers the highest amount of control of all the various modes of entry.
B) It is easy to extract knowledge for use in other locations through this mode.
C) It can increase the cost of selling in a foreign market.
D) It involves the risk of a local firm in alliance to become a competitor.
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Chapter 10: Innovative Strategies That Change the Nature of Competition
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Q1) Pearl Corp., a manufacturer of dental equipment, creates a new instrument.With the experience it has in creating small equipment required for dental surgeries, it customizes the new tool to be more accurate and effective.It also comes with an improvised handle.Which of the following innovations has Pearl adopted in this scenario?
A) An altered innovation
B) An incremental innovation
C) A radical innovation
D) A progressive innovation
Q2) Stars Corp.decides to eliminate activities associated with collecting and storing the products by directly distributing the finished goods to its customers.This enabled Stars to reduce the total cost.Which of the following is being exemplified in this case?
A) Disintermediation
B) Low-end disruptive innovations
C) Standardization
D) High-end radical innovations
Q3) A(n) _____ describes the creation of a unique or novel concept, method or process that is often turned into a tangible outcome.
Q4) Creating new demand in an uncontested market space is called the _____.
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Chapter 11: Competitive Strategy
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Q1) An airline service provider watches its rivals closely.It studies the potential for reliable, timely, and service-oriented international travel offered by its competitors.In this case, the firm is focusing on the competitors' _____.
A) resources and capabilities
B) objectives
C) organizational structure
D) market risks
Q2) Lucy, a researcher, wants to identify the main differences in different healthcare firms competing to deliver value.She studies the relative price, product line breadth, and geographic placement to identify the differences.Which of the following is Lucy likely to rely on to identify how the firms compete?
A) A strategic group map
B) A workflow analysis
C) An employee survey
D) A quality control measure
Q3) In game theory, a set of actions that are always played no matter what a rival chooses to do is referred to as the _____.
Q4) Briefly describe the Nash equilibrium.
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Chapter 12: Implementing Strategy
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Q1) Which of the following statements is true of shared values?
A) It refers to the priorities and virtues that members of an organization see as important.
B) It represents the most important S in the 7 S model.
C) It helps create alignment between goals, skills, and environmental needs.
D) It includes recruitment, hiring, training, promotion, and compensation.
Q2) Which of the following statements is true about strategy?
A) It represents the most important S in the 7 S model.
B) It refers to the priorities, values, and virtues that members of an organization see as important.
C) It includes recruitment, hiring, training, promotion, and compensation.
D) It is the ability of an individual to perform tasks.
Q3) Write a note on the structure of the 7 S model of organizational alignment.
Q4) Write a note on the principle of line of sight.
Q5) In the context of the 7 S model of organizational alignment, which of the following statements is true of staffing?
A) It represents the most important S in the 7 S model.
B) It helps create alignment between goals, skills, and environmental needs.
C) It includes recruitment, hiring, training, promotion, and compensation.
D) It is the ability of an individual to perform tasks.
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Chapter 13: Corporate Governance and Ethics
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Q1) Yellow Moon Inc.is a company that manufactures consumer electronics.Its investors will be primarily affected by the business through the:
A) training and development provided to its employees.
B) employees living in its community.
C) earnings generated by the company.
D) order consistency of the company.
Q2) Kate, a business owner, is a proponent of the stakeholder model of business management.Which of the following is a reason she supports this model?
A) The stakeholders are the legal owners of the corporation's assets.
B) Managers spend most of their time interacting with and managing the demands and needs of different stakeholder groups.
C) The stakeholders own stock of a corporation that they can easily trade.
D) Managers have no way to efficiently and effectively run their firms as they have no way to decide whose claims have priority.
Q3) Who is a stakeholder of a business organization?
Q4) In a company, who are called agents?
Q5) Briefly describe agency problems.How can they destroy value in an organization?
Q6) Describe two of the arguments used by participants of debates about ethics.
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Chapter 14: Strategy and Society
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Q1) Differentiate between a social bricoleur and a social engineer.
Q2) Jude works for a food-processing unit that sells processed food at rates as low as 25% of its selling price to orphanages, old-age homes, missionaries, and charitable institutions.Jude's organization can be classified as a(n) _____.
A) incremental organization
B) transactional organization
C) hybrid organization
D) traditional organization
Q3) Walter Inc., an engineering firm, follows stringent rules related to safety such as wearing helmets, sporting safety goggles, and dust masks while working on-site.In this scenario, which of the following responsibilities is fulfilled by Walter?
A) Hybrid responsibility
B) Ethical responsibility
C) Philanthropic responsibility
D) Economic responsibility
Q4) Discuss the role of a social entrepreneur in the creation of shared value.
Q5) _____entails transferring the ability to effectively perform tasks from one organization to another.
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