Business Administration Senior Seminar
Practice Questions
Course Introduction
Business Administration Senior Seminar is a capstone course designed to integrate knowledge and skills acquired from previous business courses, fostering a strategic understanding of the business environment. Through case studies, collaborative projects, and presentations, students apply analytical, ethical, and leadership principles to address complex organizational challenges. The seminar emphasizes critical thinking, effective communication, and decision-making, preparing graduating seniors for professional roles or further study in business. Active participation, reflection, and engagement with current trends in the field are key components of the course.
Recommended Textbook
Strategic Management 4th Edition by Frank Rothaermel
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12 Chapters
1217 Verified Questions
1217 Flashcards
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Page 2
Chapter 1: What Is Strategy
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Sample Questions
Q1) Comment on the statement "Customer-oriented visions do not define how a customer need will be met."
Answer: It is important not to confuse customer-oriented vision statements with listening to the customer. They are not the same thing. Customer-oriented visions identify a critical need but leave open the means of how to meet that need. It is critical not to define how a customer need will be met. The future is unknowable, and innovation may provide new ways to meet needs that are not fathomable today. Even if customer needs do not change, the means of meeting those needs can certainly change over time. An organization's vision should be flexible, to allow for change and adaptation.
Q2) Why is it important for firms in the same industry to choose distinct but different strategic positions?
Answer: In strategic positioning, firms stake out a unique position within an industry that allows the firm to provide value to customers, while controlling costs. Competition focuses on creating value for customers (through lower prices or better service and selection) rather than destroying rivals. Even though two firms compete in the same industry, both can win if they have a distinct and well-executed competitive strategy.
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Chapter 2: Strategic Leadership: Managing the Strategy Process
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Sample Questions
Q1) Carlos is the manager of a graphic design firm, and he relies on a top-down strategic management approach to maintain tight control over the activities of his employees. The company has recently started to lose market share to its more innovative competitors, and Carlos wants to encourage his employees to start contributing to the strategy formulation process to make the company more competitive. Which of the following steps should Carlos take?
A) Designate Friday afternoons as time for employees to pursue outside interests loosely related to the business.
B) Schedule individual meetings with employees and demand that they come prepared with five ideas.
C) Take an extended vacation and see how the business naturally reorganizes itself in his absence.
D) Allow employees to take whatever approach they feel is appropriate when dealing with customers.
Answer: A
Q2) Define strategic leadership.
Answer: Strategic leadership pertains to executives' use of power and influence to direct the activities of others when pursuing an organization's goals.
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Page 4
Chapter 3: External Analysis: Industry Structure,
Competitive Forces, and Strategic Groups
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) The internet service provider industry in the country of Megalopolis is an industry characterized by the presence of strong network effects, high brand loyalty, high economies of scale, and proprietary technology among incumbent firms. Thus, in the internet service provider industry, the
A) threat of substitutes is most likely high.
B) threat of new entrants is most likely low.
C) bargaining power of buyers is most likely low.
D) entry barriers are most likely nonexistent.
Answer: B
Q2) Fadia Ammunition Inc., a firm controlled and managed by the government of Fadia, is the only company that has the license to produce defense arms in the country. Which of the following industry competitive structures does this best illustrate?
A) monopolistic competition
B) monopoly
C) oligopoly
D) perfect competition
Answer: B
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Chapter 4: Internal Analysis: Resources, Capabilities, and Core Competencies
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Your company, a small software development firm, has attracted many of the top young programmers in your area. As a result, the apps you produce have been praised for their innovative features and intuitive user experience. According to the bathtub metaphor in the dynamic capabilities perspective, what is the best way for you to protect against resource leakage?
A) Invest in an online marketing campaign for existing products to retain customers.
B) Open a satellite office overseas to support the company culture of taking chances.
C) Attempt to undercut the competition by imitating their top-selling product.
D) Improve the benefits package to retain key employees and reduce turnover.
Q2) A resource-based view of a firm provides a model that systematically aids in identifying A) core rigidities.
B) core competencies.
C) competitive disadvantage.
D) competitive parity.
Q3) Discuss resource immobility as a critical assumption in the resource-based model of a firm.
Q4) Elaborate on the drawback of SWOT analysis with the help of an example.
Page 6
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Chapter 5: Competitive Advantage, Firm Performance, and Business Models
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Sample Questions
Q1) The top management at Sunshine Vitamins, through rigorous testing, ensures that the company develops and sells vitamins that are free of harmful side effects. Also, the company ensures that the chemical waste generated in the manufacturing process is kept to a bare minimum and is disposed of according to the regulations of the Environmental Protection Agency. The management assesses its overall performance based on these dimensions. Thus, the managers at Sunshine Vitamins are applying the ________ approach to measure firm performance.
A) economic value creation
B) shareholder value creation
C) triple-bottom-line
D) accounting profitability
Q2) What are the advantages of the balanced scorecard?
Q3) In the why, what, who, and how of business models framework, the why dimension asks "why does the business model create value?"
A)True
B)False
Q4) How does consumer demand affect fixed costs and variable costs?
Q5) What is the relationship between producer surplus and consumer surplus?
Q6) Explain how business models put strategy into action.
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Chapter 6: Business Strategy: Differentiation, Cost
Leadership, and Blue Oceans
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Sample Questions
Q1) Heirloom Furniture is a brand reputed for its wide variants of sofas that introduced a new range of mattresses and bed frames a few years ago. Since most of its products could be produced using the same resources and technology, the company's cost structure lowered, while its product portfolio widened. In this scenario, which of the following value and cost drivers is Heirloom applying?
A) mass customization
B) economies of scope
C) learning-curve effect
D) network effect
Q2) To initiate a strategic move that allows a firm to open up new and uncontested market space through value innovation, managers must address four key questions when formulating a blue ocean business strategy. These questions focus on
A) increasing cost and maintaining perceived customer benefits.
B) lowering cost and maintaining perceived customer benefits.
C) lowering cost and increasing perceived customer benefits.
D) increasing cost and increasing perceived customer benefits.
Q3) What is higher value associated with?
Q4) What is a value gap?
Q5) How does process innovation benefit a firm?
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Chapter 7: Business Strategy: Innovation, Entrepreneurship, and Platforms
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Sample Questions
Q1) Streaming video services replacing brick-and-mortar video rental stores would be an example of a(n)
A) regressive innovation.
B) radical innovation.
C) architectural innovation.
D) disruptive innovation.
Q2) Which of the following accurately describes how Netflix used innovation to gain a competitive advantage?
A) Netflix moved from content development to upgrading its data analytics to provide faster online streaming.
B) Netflix applied big data analytics to its user preferences to provide highly personalized viewing recommendations.
C) Netflix moved from online streaming to online DVD rentals via the Internet.
D) Netflix applied first mover advantages to lock up talent needed to produce original content for DVD rentals and online streaming.
Q3) Why do incumbent firms favor incremental innovation over radical innovation?
Q4) Discuss the differences between pipeline businesses and platform businesses in terms of the value chain.
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Chapter 8: Corporate Strategy: Vertical Integration and Diversification
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Sample Questions
Q1) Corporate strategy is focused solely on determining the geographic locations in which the firm should compete.
A)True
B)False
Q2) Decisions relating to the range of products and services a firm will offer determine the firm's
A) level of diversification.
B) geographic scope.
C) vertical integration.
D) absorptive capacity.
Q3) There are many reasons why firms need to grow. Which of the following reasons is strongly influenced by economies of scale?
A) increasing profits
B) lowering costs
C) reducing risk
D) motivating managers
Q4) Discuss the various general diversification strategies available to a firm.
Q5) Discuss the underlying concepts that help executives make corporate strategic decisions.
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Chapter 9: Corporate Strategy: Strategic Alliances, Mergers, and Acquisitions
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Sample Questions
Q1) In a non-equity alliance, which of the following types of information would firms most likely share?
A) a manager's knowledge related to solving non-routine problems
B) a top-level manager's experience related to making strategic decisions
C) the documented information about the material composition of a product
D) the employees' entrepreneurial skills
Q2) Why do firms make acquisitions? Provide an example of how a successful acquisition increased or protected shareholder value.
Q3) What are the necessary conditions for selecting a partner for successful alliance formation?
Q4) Medequip Inc. is a large firm involved in the highly competitive market of high-tech medical equipment. In this market, smaller firms that focus on research are constantly making new technological developments. Which of the following approaches would best serve the needs of Medequip?
A) mergers
B) serial mergers
C) acquisitions
D) serial acquisitions
Q5) What does the relational view of competitive advantage propose?
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Chapter 10: Global Strategy: Competing Around the World
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Sample Questions
Q1) Multinational enterprises (MNEs) like Harley-Davidson, Rolex, and Starbucks are said to be following an international strategy because
A) they pursue a cost leadership strategy in their respective industries.
B) they are highly responsive to the local needs and preferences of customers in the host countries.
C) they offer the same products or services in all their stores throughout the world.
D) they attempt to combine benefits of localization and standardization strategies simultaneously.
Q2) How will an increase in coordinated economic and political integration between countries affect the world economy?
A) The world's market economies will become self-sufficient and independent.
B) There will be gains in social welfare and living standards across the globe.
C) The cost of labor will further decline in emerging economies.
D) There will be a movement away from global collaboration networks among multinational enterprises (MNEs).
Q3) The risk of intellectual property appropriation increases when companies follow a multidomestic strategy. Elaborate on this statement.
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Chapter 11: Organizational Design: Structure, Culture, and Control
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Sample Questions
Q1) Which of the following types of organizations best helps match a differentiation strategy to a functional structure?
A) ambidextrous organization
B) mechanistic organization
C) organic organization
D) rigid organization
Q2) How do results-only-work-environments differ from output controls that depend on extrinsic motivation?
Q3) Which of the following organizational structures matches best with an international strategy?
A) simple
B) matrix
C) multidivisional
D) functional
Q4) A high degree of formalization in an organization is most likely to
A) improve customer service.
B) slow down decision making.
C) produce inconsistent results.
D) increase creativity and innovation.
Q5) What are multidivisional structures? How are they implemented?
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Chapter 12: Corporate Governance and Business Ethics
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Sample Questions
Q1) What is the result of managers' pursuit of strategies that define value creation too narrowly in public stock companies?
A) It gives the managers greater control of the performance of the organization in the long term.
B) It reduces the trust of shareholders in the organization as a vehicle for value creation.
C) It helps companies increase firm profits by creating shared value.
D) It enables companies to create social value by addressing society's needs but prevents them from creating economic value for shareholders.
Q2) CPA Inc. is a publicly traded company. The stockholders of this company delegate the authority to make decisions for the company to a CEO named Joaquin. The stockholders expect Joaquin to make decisions that will benefit the company. However, Joaquin begins to find ways to maximize his total compensation, which hinders CPA's performance. This scenario reflects
A) value creation problems.
B) principal-agent problems.
C) inside director-outside director problems.
D) adverse selection problems.
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Page 14