Business Administration
Test Preparation
Course Introduction
Business Administration is a multidisciplinary field that involves the planning, organizing, directing, and controlling of resources financial, human, and informational to achieve organizational goals efficiently and effectively. This course provides students with a comprehensive understanding of core business functions, including management, marketing, finance, operations, and human resources. Emphasis is placed on developing analytical, decision-making, leadership, and communication skills necessary for success in diverse business environments. Through case studies, group projects, and real-world applications, students learn to navigate the complexities of todays dynamic business landscape and prepare for roles in management and administration across various sectors.
Recommended Textbook
Strategic Management and Competitive Advantage 4th Edition by Jay B. Barney
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11 Chapters
1100 Verified Questions
1100 Flashcards
Source URL: https://quizplus.com/study-set/636
Page 2
Chapter 1: What Is Strategy and the Strategic Management Process?
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12060
Sample Questions
Q1) Thermacorp's cost of equity is 13.6.If the after tax cost of debt is 4.6,what is the weighted average cost of capital?
A) 15.85
B) 11.35
C) 11.2
D) 13.2
Answer: B
Q2) Green Frog is an environmentally friendly firm in the cosmetics industry.If during the strategic planning process Green Frog tried to determine the critical threats and opportunities in its competitive environment,it would be performing a(n)
A) internal analysis.
B) external analysis.
C) WACC analysis.
D) economic analysis.
Answer: B
Q3) A "good strategy" does not necessarily have to create a competitive advantage.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Evaluating a Firm's External Environment
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12061
Sample Questions
Q1) The values,beliefs and norms that guide behavior in society are known as A) climate.
B) demographics.
C) economics.
D) culture.
Answer: D
Q2) Industries in which a large number of small or medium-sized firms operate and no small set of firms has dominant market share or creates dominant technologies are called ________ industries.
A) fragmented
B) mature
C) emerging
D) declining
Answer: A
Q3) In this example,composite wood furniture would be an example of A) substitutes.
B) rivals.
C) new entrants.
D) complementors.
Answer: A
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Chapter 3: Evaluating a Firm's Internal Capabilities
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12062
Sample Questions
Q1) When firms without a resource or capability face a cost disadvantage in obtaining or developing it compared to firms that already possess it,this resource or capability is described as perfectly imitable.
A)True
B)False
Answer: False
Q2) The fact that it would be would be difficult and costly for firms to match Bates' capabilities in the tool industry indicates that these capabilities are
A) imperfectly imitable.
B) casually ambiguous.
C) substitutable.
D) perfectly imitable.
Answer: A
Q3) Which of the following statements regarding patents is accurate?
A) Patents always increase the costs of imitation.
B) Patents may decrease,rather than increase,the costs of imitation.
C) Patents always decrease the costs of imitation.
D) Patents have no impact on the costs of imitation.
Answer: B
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Page 5
Chapter 4: Cost Leadership
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12063
Sample Questions
Q1) Identify the most appropriate organizational structure for a firm pursuing a cost-leadership strategy,and identify the two basic responsibilities of the CEO in this type of organization.
Q2) By increasing production volume in an effort to reduce costs,Sematech is pursuing which sources of cost advantage?
A) Size differences and diseconomies of scale
B) Differential access to productive inputs
C) Size differences and economies of scale
D) Technological advantages
Q3) Actions firms take to gain competitive advantages by operating in multiple markets or industries simultaneously are known as
A) business-level strategies.
B) corporate-level strategies.
C) functional-level strategies.
D) macro-level strategies.
Q4) The threat of rivalry is increased when low-cost firms set their prices equal to those of higher cost competitors.
A)True
B)False
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Chapter 5: Product Differentiation
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12064
Sample Questions
Q1) Recent research shows that firms can simultaneously implement cost-leadership and product-differentiation strategies if they learn how to manage the ________ inherent in these two strategies.
A) consistencies
B) similarities
C) contradictions
D) superfluousness
Q2) Given that the leather handbag market that Coach largely competes in can be considered a mature market,Coach should focus its product-differentiation efforts on
A) exploiting a first-mover advantage as a basis of product differentiation.
B) introducing radically new technologies as a basis of product differentiation.
C) seeking a viable market niche that will enable it to survive.
D) refining products as a basis of product differentiation.
Q3) While cost leadership requires rewards for cost reduction,product differentiation requires rewards for ________.
A) creative flair
B) efficiency
C) quantitative goals
D) production goals
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Page 7
Chapter 6: Vertical Integration
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12065
Sample Questions
Q1) A firm's level of vertical integration is the number of steps in its value chain that the firm accomplishes within its boundaries.
A)True
B)False
Q2) Discuss the opportunism-based explanation of vertical integration value creation and identify when,under this explanation,firms should vertically integrate.In your answer be sure to clearly define opportunism and the role that transaction-specific investments play in the opportunism-based explanation.
Q3) A firm may be able to gain an advantage from vertically integrating when it resolves some uncertainty it faces sooner than its competition.
A)True
B)False
Q4) While the functional or U-form structure is used to implement a cost-leadership or product-differentiation strategy,a matrix structure is most often used to implement a vertical integration strategy.
A)True
B)False
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8
Chapter 7: Corporate Diversification
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12066
Sample Questions
Q1) When diversified firms use the revenues from profitable businesses to subsidize the operations of another business and then set the prices of the subsidized firm's products at a level that is below the subsidized business's cost to produce these items,this is known as ________ pricing.
A) dynamic
B) monopoly
C) predatory
D) beneficial
Q2) A firm that diversifies by exploiting its resources and capability advantages in its original business will have ________ costs than (as)firms that begin a new business without these resource and capability advantages,or ________ revenues than (as)firms lacking these advantages.
A) higher; lower
B) the same; higher
C) lower; the same
D) lower; higher
Q3) Core competencies are an example of a costly-to-duplicate economies of scope.
A)True
B)False
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Page 9
Chapter 8: Organizing to Implement Corporate
Diversification
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12067
Sample Questions
Q1) Grace McKenna is best described as a(n)________ in SpandoCorp.
A) senior executive
B) corporate staff member
C) division general manager
D) institutional investor
Q2) The most popular economically oriented measure of division performance in a diversified firm is economic value added.
A)True
B)False
Q3) The two responsibilities of the senior executive in an M-form organization are
A) strategy formulation and strategy implementation.
B) strategy formulation and strategic control.
C) strategic control and strategy implementation.
D) strategy implementation and differentiation.
Q4) In principle,only the CEO and the president report to the board of directors while other senior managers report only to the CEO.
A)True
B)False
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Chapter 9: Strategic Alliances
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12068
Sample Questions
Q1) Firms with high levels of absorptive capacity will learn at higher rates than firms with low levels of absorptive capacity,even if these two firms are trying to learn exactly the same things in an alliance.
A)True
B)False
Q2) When one firm makes more transaction-specific investments in a strategic alliance than partner firms make,that firm may be subject to a form of cheating called ________ that occurs when a firm that has not made significant transaction-specific investments demands returns from an alliance that are higher than what the partners agreed to when they created the alliance.
A) adverse selection
B) holdup
C) moral hazard
D) noncompliance
Q3) In network industries with increasing returns to scale where standards are unimportant,strategic alliances can be used to create a more favorable competitive environment.
A)True
B)False
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Page 11
Chapter 10: Mergers and Acquisitions
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12069
Sample Questions
Q1) ________ economies are achieved by the ability of firms to dictate prices by exerting market power.
A) Pecuniary
B) Technical
C) Diversification
D) Production
Q2) One study that reviewed 40 empirical merger and acquisition studies in the finance literature concluded that acquisitions,on average,increased the market value of bidding firms by about 25 percent and left the market value of the target firms unchanged.
A)True
B)False
Q3) How are poison pills different from shark repellents?
Q4) Wealthy individuals who provide capital to entrepreneurs to help them grow their businesses are known as
A) business angels.
B) venture capitalists.
C) stockholders.
D) CEOs.
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Page 12
Chapter 11: International Strategies
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/12070
Sample Questions
Q1) Countervailing duties are an example of quotas.
A)True
B)False
Q2) Local responsiveness can help firms be successful in addressing the local needs of nondomestic customers,thereby increasing demand for a firm's current products or services.
A)True
B)False
Q3) A firm implements a(n)________ strategy when it diversifies its business operations across country boundaries.
A) functional
B) operational
C) international
D) transnational
Q4) Japanese retail distribution has historically been much more fragmented,and much less efficient,than the system that exists in either the United States or Western Europe.
A)True
B)False
Q5) Describe the transnational strategy.
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