GLOBUS SIMULATION QUIZ ONE
PREPARATION PACK 2026 ACCURATE
QUESTIONS AND ANSWERS GRADED A+
⩥ strategy.
Answer: the set of goal-directed actions a firm takes to gain and sustain
superior performance relative to competitors
⩥ good strategy.
Answer: enable a firm to achieve superior performance relative to its
competitors. Consisted of
1) a diagnosis of the competitive challenge.
2) a guiding policy to address the competitive challenge.
3) a set of coherent actions to implement a firm's guiding policy
⩥ competitive advantage.
Answer: superior performance relative to other competitors in the same
industry or the industry average
⩥ sustainable competitive advantage.
Answer: outperforming competitors or the industry average over a
prolonged period of time
, ⩥ competitive disadvantage.
Answer: under performance relative to other competitors in the same
industry or the industry average
⩥ competitive parity.
Answer: performance of two or more firms at the same level
⩥ vision.
Answer: a statement about what an organization ultimately wants to
accomplish; captures the company's aspirations
⩥ mission.
Answer: Description of what an organization actually does—the
products and services it plans to provide, and the markets in which it
will compete.
⩥ core values statement.
Answer: statement of principles to guide an organization as it works to
achieve its vision and fulfill its mission, for both internal conduct and
external interactions; it often includes explicit ethical considerations
⩥ organizational core values.
Answer: ethical standards and norms that govern the behavior of
individuals within a firm or organization
PREPARATION PACK 2026 ACCURATE
QUESTIONS AND ANSWERS GRADED A+
⩥ strategy.
Answer: the set of goal-directed actions a firm takes to gain and sustain
superior performance relative to competitors
⩥ good strategy.
Answer: enable a firm to achieve superior performance relative to its
competitors. Consisted of
1) a diagnosis of the competitive challenge.
2) a guiding policy to address the competitive challenge.
3) a set of coherent actions to implement a firm's guiding policy
⩥ competitive advantage.
Answer: superior performance relative to other competitors in the same
industry or the industry average
⩥ sustainable competitive advantage.
Answer: outperforming competitors or the industry average over a
prolonged period of time
, ⩥ competitive disadvantage.
Answer: under performance relative to other competitors in the same
industry or the industry average
⩥ competitive parity.
Answer: performance of two or more firms at the same level
⩥ vision.
Answer: a statement about what an organization ultimately wants to
accomplish; captures the company's aspirations
⩥ mission.
Answer: Description of what an organization actually does—the
products and services it plans to provide, and the markets in which it
will compete.
⩥ core values statement.
Answer: statement of principles to guide an organization as it works to
achieve its vision and fulfill its mission, for both internal conduct and
external interactions; it often includes explicit ethical considerations
⩥ organizational core values.
Answer: ethical standards and norms that govern the behavior of
individuals within a firm or organization
