ADMN 1000 EXAM | 2025/2026 UPDATE | QUESTIONS
AND ANSWERS | WITH COMPLETE SOLUTION!!
What is strategy? Answer - The plans made or the actions taken in an effort to
help an organization obtain its intended purposes
What are the two basic models to consider when designing a sustainable
strategy? Answer - -5 Forces Model
-VRIO Model
What are the 5 forces of the 5 forces model? Answer - -Bargaining power of
suppliers
-Bargaining power of buyers
-Threats of substitute products or services
-Threats of new entrants
-Rivalry among existing firms
What are the limitations of the 5 forces model? Answer - -Assumes power
relationships are the same in each force.
-The model does not explicitly take the roles of technological change and
government regulations into consideration.
What are the components of the VRIO model? Answer - -Value
-Rareness
, -Imitability
-Organization
Components of a SWOT analysis? Answer - strengths, weaknesses,
opportunities, threats
The industry lifecycle model: decline phase caused by.... Answer - -Declining
sales due to one or more of the following:
• Changes in demographics
• Shifting consumer tastes
-Technological substitution
What is intrafirm dynamics vs interfirm dynamics? Answer - INTRA: Having
differentiation within different markets
INTER: Having differentiation within one market product
What is the
Boston Consulting Group Matrix Answer - BCG separates businesses into four
categories based on how fast the market growing ( high-growth or low-growth)
and the size of the business share of that market ( Small and large)
What is ethics? Answer - the study of morality or moral judgments, standards,
and rules of conduct.
What is business ethics? Answer - The rules, standards, principles, or codes
giving guidelines for morally right behaviour in certain organizational contexts
AND ANSWERS | WITH COMPLETE SOLUTION!!
What is strategy? Answer - The plans made or the actions taken in an effort to
help an organization obtain its intended purposes
What are the two basic models to consider when designing a sustainable
strategy? Answer - -5 Forces Model
-VRIO Model
What are the 5 forces of the 5 forces model? Answer - -Bargaining power of
suppliers
-Bargaining power of buyers
-Threats of substitute products or services
-Threats of new entrants
-Rivalry among existing firms
What are the limitations of the 5 forces model? Answer - -Assumes power
relationships are the same in each force.
-The model does not explicitly take the roles of technological change and
government regulations into consideration.
What are the components of the VRIO model? Answer - -Value
-Rareness
, -Imitability
-Organization
Components of a SWOT analysis? Answer - strengths, weaknesses,
opportunities, threats
The industry lifecycle model: decline phase caused by.... Answer - -Declining
sales due to one or more of the following:
• Changes in demographics
• Shifting consumer tastes
-Technological substitution
What is intrafirm dynamics vs interfirm dynamics? Answer - INTRA: Having
differentiation within different markets
INTER: Having differentiation within one market product
What is the
Boston Consulting Group Matrix Answer - BCG separates businesses into four
categories based on how fast the market growing ( high-growth or low-growth)
and the size of the business share of that market ( Small and large)
What is ethics? Answer - the study of morality or moral judgments, standards,
and rules of conduct.
What is business ethics? Answer - The rules, standards, principles, or codes
giving guidelines for morally right behaviour in certain organizational contexts
