LSUS MBA 705 Final Exam with
Complete Answers 2026 Update.
business strategy - Answer how a business unit competes with its rivals; competitive strategy
business unit - Answer organizational entity with its own unique mission, set of competitors
& industry
competitive advantage - Answer state whereby a business unit's successful strategies cannot
be easily duplicated by its competitors
differentiation strategy - Answer in which a larger business produces & markets to the entire
industry products or services that can be readily distinguished from those of its competitors
first-mover advantages - Answer benefits derived from being the first firm to offer a new or
modified product or service
focus differentiation strategy - Answer in which a smaller business produces highly
differentiated products or services for the specialized needs of a market niche.
Focus—Low-Cost-Differentiation Strategy - Answer in which a smaller business produces
highly differentiated products or services for the specialized needs of a select group of
customers while keeping its costs low.
Focus low-cost strategy - Answer in which a smaller business keeps overall costs low while
producing no-frills products or services for a market niche with elastic demand.
generic strategies - Answer strategies that can be adopted by business units to guide their
organizations
intrapreneurship - Answer the creation of new business ventures within an existing firm
low-cost--differentiation strategy - Answer business unit strategy in which a larger business
unit maintains low costs while producing distinct products or services industry-wide for a large
market with a relatively inelastic demand.
low-cost strategy - Answer business unit strategy in which a larger business produces, at the
lowest cost possible, no-frills products and services industry-wide for a large market with a
relatively elastic demand.
, micro-localization - Answer Customizing products and services to suit the taste and needs of
diverse consumers across a nation or region.
multiple strategies - Answer strategic alternative for a larger business unit in which the
organization simultaneously employs more than one of the generic business strategies.
process innovations - Answer business unit's activities that enhance the differentiation of its
products or services
product innovations - Answer a business unit's activities that enhance the differentiation of
its products or services
quality - Answer features & characteristics of a product or service that allow it to satisfy
stated or implied needs
strategic group - Answer select group of direct competitors who have similar strategic profiles
structural innovations - Answer modifying the structure of the organization and/or the
business model to improve compeititveness
value innovations - Answer modifying products, services, and activities in order to maximize
the value delivered to customers
capital-labor substitutions - Answer organization's ability to substitute labor for capital or vice
versa as production increases
experience curve - Answer reduction in per-unit costs that occur as an organization gains
experience producing a product or service
functional strategies - Answer strategies pursued by each functional area of a business unit,
such as marketing, finance, or production
human captial - Answer sum of the capabilities of individuals in an organziation
Just-In-Time (JIT) inventory system - Answer inventory system, popularized in Japan, in which
suppliers deliver parts just at the time they are needed by the buying organizations to use in its
production process
Complete Answers 2026 Update.
business strategy - Answer how a business unit competes with its rivals; competitive strategy
business unit - Answer organizational entity with its own unique mission, set of competitors
& industry
competitive advantage - Answer state whereby a business unit's successful strategies cannot
be easily duplicated by its competitors
differentiation strategy - Answer in which a larger business produces & markets to the entire
industry products or services that can be readily distinguished from those of its competitors
first-mover advantages - Answer benefits derived from being the first firm to offer a new or
modified product or service
focus differentiation strategy - Answer in which a smaller business produces highly
differentiated products or services for the specialized needs of a market niche.
Focus—Low-Cost-Differentiation Strategy - Answer in which a smaller business produces
highly differentiated products or services for the specialized needs of a select group of
customers while keeping its costs low.
Focus low-cost strategy - Answer in which a smaller business keeps overall costs low while
producing no-frills products or services for a market niche with elastic demand.
generic strategies - Answer strategies that can be adopted by business units to guide their
organizations
intrapreneurship - Answer the creation of new business ventures within an existing firm
low-cost--differentiation strategy - Answer business unit strategy in which a larger business
unit maintains low costs while producing distinct products or services industry-wide for a large
market with a relatively inelastic demand.
low-cost strategy - Answer business unit strategy in which a larger business produces, at the
lowest cost possible, no-frills products and services industry-wide for a large market with a
relatively elastic demand.
, micro-localization - Answer Customizing products and services to suit the taste and needs of
diverse consumers across a nation or region.
multiple strategies - Answer strategic alternative for a larger business unit in which the
organization simultaneously employs more than one of the generic business strategies.
process innovations - Answer business unit's activities that enhance the differentiation of its
products or services
product innovations - Answer a business unit's activities that enhance the differentiation of
its products or services
quality - Answer features & characteristics of a product or service that allow it to satisfy
stated or implied needs
strategic group - Answer select group of direct competitors who have similar strategic profiles
structural innovations - Answer modifying the structure of the organization and/or the
business model to improve compeititveness
value innovations - Answer modifying products, services, and activities in order to maximize
the value delivered to customers
capital-labor substitutions - Answer organization's ability to substitute labor for capital or vice
versa as production increases
experience curve - Answer reduction in per-unit costs that occur as an organization gains
experience producing a product or service
functional strategies - Answer strategies pursued by each functional area of a business unit,
such as marketing, finance, or production
human captial - Answer sum of the capabilities of individuals in an organziation
Just-In-Time (JIT) inventory system - Answer inventory system, popularized in Japan, in which
suppliers deliver parts just at the time they are needed by the buying organizations to use in its
production process
