GEB 4890 1 PRACTICE TEST 2026 SOLVED
QUESTIONS WITH CORRECT ANSWERS
GRADED A+
●● A middle-class customer (target) base in a region is most concerned
with quality and price of products. Which of the following would be
considered a best value proposition for the customers?.
Answer: A company that provides same quality of products at a much
lower price than rivals, but leaves the final assembly of product pieces to
customers with an easy assembly guide
●● According to the text, the strategic management process entails three
ongoing processes:.
Answer: analysis, decisions, and actions
●● When developing a coherent strategy, ___ sets purpose, scope, and
basis for competitive advantage.
Answer: mission
●● When formulating and implementing a singular coherent strategy the
hierarchy of direction (firm-individual) is in this order (least specific to
most specific):.
Answer: vision, mission, goals and objectives
, ●● Strategy is the ideas, decisions, and actions that enable a firm to
achieve a ___ over competition.
Answer: competitive advantage
●● The difference between operational effectiveness and positioning;
performing a singular activity better than a rival is a form of___.
Answer: internal positioning
●● According to Porter, the essence of strategy is a form of ___ in the
company's ___, choosing to perform activities differently or different
activities than rivals..
Answer: activities
●● According to Porter, strategic position emerges from three sources,
of the three, ___, which makes sense when a company can best produce
particular products or services using a distinctive set of activities..
Answer: variety
●● A company's macro-environment refers to:.
Answer: political factors, economic conditions in the firm's general
environment, sociocultural forces, technological forces, environmental
factors, and legal/regulatory conditions
●● The driving forces in an industry:.
QUESTIONS WITH CORRECT ANSWERS
GRADED A+
●● A middle-class customer (target) base in a region is most concerned
with quality and price of products. Which of the following would be
considered a best value proposition for the customers?.
Answer: A company that provides same quality of products at a much
lower price than rivals, but leaves the final assembly of product pieces to
customers with an easy assembly guide
●● According to the text, the strategic management process entails three
ongoing processes:.
Answer: analysis, decisions, and actions
●● When developing a coherent strategy, ___ sets purpose, scope, and
basis for competitive advantage.
Answer: mission
●● When formulating and implementing a singular coherent strategy the
hierarchy of direction (firm-individual) is in this order (least specific to
most specific):.
Answer: vision, mission, goals and objectives
, ●● Strategy is the ideas, decisions, and actions that enable a firm to
achieve a ___ over competition.
Answer: competitive advantage
●● The difference between operational effectiveness and positioning;
performing a singular activity better than a rival is a form of___.
Answer: internal positioning
●● According to Porter, the essence of strategy is a form of ___ in the
company's ___, choosing to perform activities differently or different
activities than rivals..
Answer: activities
●● According to Porter, strategic position emerges from three sources,
of the three, ___, which makes sense when a company can best produce
particular products or services using a distinctive set of activities..
Answer: variety
●● A company's macro-environment refers to:.
Answer: political factors, economic conditions in the firm's general
environment, sociocultural forces, technological forces, environmental
factors, and legal/regulatory conditions
●● The driving forces in an industry:.
