BMGT 301 UPDATED ACTUAL EXAM
QUESTIONS AND CORRECT ANSWERS
COMPLETE STUDY GUIDE
●● Operational Effectiveness
Answer: Performing the same tasks better than rivals perform them.
●● Fast Follower Exists when?
Answer: 1. Savvy rivals watch a pioneer's efforts
2. Learn from their successes and missteps
3. Then enter the market quickly with a comparable or superior product
at a lower cost 4. Before the first mover can dominate.
●● Strategic Positioning
Answer: Performing different tasks than rivals or the same tasks in a
different way.
●● Straddling
Answer: When a firm attempts to match the benefits of a success
position while maintaining its existing position.
●● True sustainable advantage comes from assets and business models
that are simultaneously (Resource-based Theory):
,Answer: Valuable
Rare
Difficult to imitate
For which there are no substitutes.
●● Powerful resources
Answer: 1. Imitation-Resistant Value Chains: Others find hard to
replicate
2. Brand: Proxy for quality and inspires trust
3. Scale: Advantages related to size; economies of scale
4. Switching Costs and Data: Costs consumer incur by switching
providers
5. Differentiation: Be different; move away from being commoditized
6. Network Effects: When the value of a product or service increases as
its number of users expands.
7. Distribution Channels: The path through which products or services
get to customers
8. Patents.
●● Technology can play a key role in creating and reinforcing assets for
sustainable advantage. This includes:
Answer: a. Enabling an imitation resistant value chain
b. Strengthening a firm's brand
, c. Collecting useful data
d. Establishing switching costs
e. Creating a network effect
f. Creating or enhancing a firm's scale advantage
g. Enabling product or service differentiationh. Offering an opportunity
to leverage unique distribution channels.
●● Transaction Processing Systems (TPS)
Answer: Information Inputs: Transactions; daily events
Information Outputs: Detailed reports; lists; summaries
Users: Operations personnel; first-line supervisors
●● Management Information Systems (MIS)
Answer: Information Inputs: Summary transaction data; high-volume
data; simple models
Information Outputs: Summary and exception reports
Users: Middle managers
●● Decision Support Systems (DSS)
Answer: Information Inputs: Optimized for data analysis, analytic
models and data analysis tools.
Information Outputs: Interactive; simulations; analysis
Users: Professionals, staff managers
QUESTIONS AND CORRECT ANSWERS
COMPLETE STUDY GUIDE
●● Operational Effectiveness
Answer: Performing the same tasks better than rivals perform them.
●● Fast Follower Exists when?
Answer: 1. Savvy rivals watch a pioneer's efforts
2. Learn from their successes and missteps
3. Then enter the market quickly with a comparable or superior product
at a lower cost 4. Before the first mover can dominate.
●● Strategic Positioning
Answer: Performing different tasks than rivals or the same tasks in a
different way.
●● Straddling
Answer: When a firm attempts to match the benefits of a success
position while maintaining its existing position.
●● True sustainable advantage comes from assets and business models
that are simultaneously (Resource-based Theory):
,Answer: Valuable
Rare
Difficult to imitate
For which there are no substitutes.
●● Powerful resources
Answer: 1. Imitation-Resistant Value Chains: Others find hard to
replicate
2. Brand: Proxy for quality and inspires trust
3. Scale: Advantages related to size; economies of scale
4. Switching Costs and Data: Costs consumer incur by switching
providers
5. Differentiation: Be different; move away from being commoditized
6. Network Effects: When the value of a product or service increases as
its number of users expands.
7. Distribution Channels: The path through which products or services
get to customers
8. Patents.
●● Technology can play a key role in creating and reinforcing assets for
sustainable advantage. This includes:
Answer: a. Enabling an imitation resistant value chain
b. Strengthening a firm's brand
, c. Collecting useful data
d. Establishing switching costs
e. Creating a network effect
f. Creating or enhancing a firm's scale advantage
g. Enabling product or service differentiationh. Offering an opportunity
to leverage unique distribution channels.
●● Transaction Processing Systems (TPS)
Answer: Information Inputs: Transactions; daily events
Information Outputs: Detailed reports; lists; summaries
Users: Operations personnel; first-line supervisors
●● Management Information Systems (MIS)
Answer: Information Inputs: Summary transaction data; high-volume
data; simple models
Information Outputs: Summary and exception reports
Users: Middle managers
●● Decision Support Systems (DSS)
Answer: Information Inputs: Optimized for data analysis, analytic
models and data analysis tools.
Information Outputs: Interactive; simulations; analysis
Users: Professionals, staff managers
