WVU BCOR 370 CORE EXAMS SET 2026 QUESTIONS AND
ANSWERS SURE A+
✔✔Creativity - ✔✔-Ability to produce novel and useful ideas
-Key issue in problem solving and decision making
-Innate creativity is often stifled by society, schools, and organizations
✔✔Rational Decision Making Model - ✔✔-Define Problem (investigate situation and
determine the cause)
-Identify decision criteria
-Weigh the criteria
-Generate alternatives
-Rate alternatives on each criteria
-Choose, implement, and evaluate the best alternative
✔✔What is Decision Making in Reality - ✔✔-Bounded Rationality
-Satisficing
-Institution
-Escalation of commitment to a failing course of action
✔✔Advantages of Group Decision Making - ✔✔-Broader perspective
-More alternatives
-Clarification of ambiguities
-More satisfaction and support
✔✔Disadvantages of Group Decision Making - ✔✔-Time consuming
-Compromise may satisfy no one
-Groupthink
-Overkill for simple decisions
-No clear decision Responsibility
✔✔Goals - ✔✔The end toward which effort is directed
-a desired future state or condition
✔✔Plan - ✔✔A blueprint specifying the actions necessary for attaining goals
✔✔Planning - ✔✔The act of determining goals and the means for achieving them
✔✔Characteristics of effective goals - ✔✔Specific and challenging goals produce better
results than vague, easy goals
✔✔Long-Term Goals - ✔✔Broad statements of what you want to be and do
✔✔Short-Term Goals - ✔✔What you need to do now in order to progress toward your
long-term goals
, ✔✔Mission Statement - ✔✔A broad statement which defines the basic purpose of the
person's or organization's existence
✔✔Strategy - ✔✔A broad plan of action for pursuing objectives and satisfying a mission
✔✔Strategic Management - ✔✔The process of formulation and implementing the most
appropriate strategies
✔✔SWOT analysis - ✔✔Strengths (internal)
Weaknesses (internal)
Opportunities (external)
Threats (external)
✔✔Three Levels of Strategy - ✔✔1.) Corporate level strategies
2.) Business Level Strategies
3.) Functional Level Strategies
✔✔The Boston Consulting Group Matrix (The BCG Matrix) - ✔✔Parameters: Industry
sales growth rate (%)
-relative market share position in the industry
(I) Question Mark: low market share; high growth rate
(II) Star: high market share; high growth rate
(III) Cash Cow: high market share; low growth rate
(IV) Dog: low market share; low growth rate
✔✔Three Competitive Strategies - ✔✔1.) Cost leadership
2.) Differentiation
3.) Focus
✔✔Cost Leadership - ✔✔"we may not be the best, but we're the cheapest"
examples: dollar tree, wal-mart, store/generic brands
✔✔Differentiation - ✔✔"Not the cheapest, but high end quality"
examples: mercedes (luxury cars), coke vs. Pepsi, target
✔✔Focus - ✔✔"we may not be for everyone"
-certain demographics
examples: magazines, volvo
✔✔Examples of Competitive Strategies - ✔✔-Purity Dairy vs. Kroger
-Old Navy, GAP, Banana Republic
✔✔Personal Strategic Management - ✔✔"Find a job you love and you'll never have to
work another day in your life" - Confucious
ANSWERS SURE A+
✔✔Creativity - ✔✔-Ability to produce novel and useful ideas
-Key issue in problem solving and decision making
-Innate creativity is often stifled by society, schools, and organizations
✔✔Rational Decision Making Model - ✔✔-Define Problem (investigate situation and
determine the cause)
-Identify decision criteria
-Weigh the criteria
-Generate alternatives
-Rate alternatives on each criteria
-Choose, implement, and evaluate the best alternative
✔✔What is Decision Making in Reality - ✔✔-Bounded Rationality
-Satisficing
-Institution
-Escalation of commitment to a failing course of action
✔✔Advantages of Group Decision Making - ✔✔-Broader perspective
-More alternatives
-Clarification of ambiguities
-More satisfaction and support
✔✔Disadvantages of Group Decision Making - ✔✔-Time consuming
-Compromise may satisfy no one
-Groupthink
-Overkill for simple decisions
-No clear decision Responsibility
✔✔Goals - ✔✔The end toward which effort is directed
-a desired future state or condition
✔✔Plan - ✔✔A blueprint specifying the actions necessary for attaining goals
✔✔Planning - ✔✔The act of determining goals and the means for achieving them
✔✔Characteristics of effective goals - ✔✔Specific and challenging goals produce better
results than vague, easy goals
✔✔Long-Term Goals - ✔✔Broad statements of what you want to be and do
✔✔Short-Term Goals - ✔✔What you need to do now in order to progress toward your
long-term goals
, ✔✔Mission Statement - ✔✔A broad statement which defines the basic purpose of the
person's or organization's existence
✔✔Strategy - ✔✔A broad plan of action for pursuing objectives and satisfying a mission
✔✔Strategic Management - ✔✔The process of formulation and implementing the most
appropriate strategies
✔✔SWOT analysis - ✔✔Strengths (internal)
Weaknesses (internal)
Opportunities (external)
Threats (external)
✔✔Three Levels of Strategy - ✔✔1.) Corporate level strategies
2.) Business Level Strategies
3.) Functional Level Strategies
✔✔The Boston Consulting Group Matrix (The BCG Matrix) - ✔✔Parameters: Industry
sales growth rate (%)
-relative market share position in the industry
(I) Question Mark: low market share; high growth rate
(II) Star: high market share; high growth rate
(III) Cash Cow: high market share; low growth rate
(IV) Dog: low market share; low growth rate
✔✔Three Competitive Strategies - ✔✔1.) Cost leadership
2.) Differentiation
3.) Focus
✔✔Cost Leadership - ✔✔"we may not be the best, but we're the cheapest"
examples: dollar tree, wal-mart, store/generic brands
✔✔Differentiation - ✔✔"Not the cheapest, but high end quality"
examples: mercedes (luxury cars), coke vs. Pepsi, target
✔✔Focus - ✔✔"we may not be for everyone"
-certain demographics
examples: magazines, volvo
✔✔Examples of Competitive Strategies - ✔✔-Purity Dairy vs. Kroger
-Old Navy, GAP, Banana Republic
✔✔Personal Strategic Management - ✔✔"Find a job you love and you'll never have to
work another day in your life" - Confucious
