BUSI 4940 EXAM 2 FINAL PAPER
COMPLETE QUESTIONS WITH CORRECT
ANSWERS ALREADY PASSED
●● Strategy:
Answer: A strategy is an integrated and coordinated set of commitments
and actions designed to exploit core competencies and gain a
competitive advantage.
●● competitive advantage
Answer: A firm has a competitive advantage when, by implementing a
chosen strategy, it creates superior value for customers, and when
competitors are not able to imitate the value the firm's products create or
find it too expensive to attempt imitation.
●● Above-average returns
Answer: are returns in excess of what an investor expects to earn from
other investments with a similar amount of risk.
●● Risk
Answer: is an investor's uncertainty about the economic gains or losses
that will result from a particular investment.
,●● Average returns
Answer: are returns equal to those an investor expects to earn from other
investments with a similar amount of risk.
●● Hypercompetition
Answer: is a condition where competitors engage in intense rivalry,
markets change quickly and often, and entry barriers are low.
●● global economy
Answer: A global economy is one in which goods, services, people,
skills, and ideas move with limited barriers across geographic borders.
●● protectionism
Answer: involves actions taken by a government to protect its economy
from adverse influences due to foreign trade.
●● Globalization
Answer: is the increasing economic interdependence among countries
and their organizations as reflected in the flow of products, financial
capital, and knowledge across country borders.
●● global supply chain
Answer: A global supply chain is a network of firms that spans multiple
countries with the purpose of supplying goods and services.
, ●● global value chain
Answer: A global value chain refers to the processes through which a
firm receives raw materials, uses them to add value through
manufacturing a product that provides greater utility for the consumer,
and sells the product to another firm or the ultimate consumer of the
product, in a global setting.
●● strategic flexibility
Answer: is a set of capabilities firms use to respond to various demands
and opportunities existing in today's dynamic and uncertain competitive
environment.
●● sustainability
Answer: means that a firm should not deplete or destroy natural
elements upon which it depends for survival.
●● Resources
Answer: are inputs into a firm's production process, such as capital
equipment, the skills of individual employees, patents, finances, and
talented managers.
●● capability
Answer: A capability is the capacity for a set of resources to perform a
task or an activity in an integrative manner.
COMPLETE QUESTIONS WITH CORRECT
ANSWERS ALREADY PASSED
●● Strategy:
Answer: A strategy is an integrated and coordinated set of commitments
and actions designed to exploit core competencies and gain a
competitive advantage.
●● competitive advantage
Answer: A firm has a competitive advantage when, by implementing a
chosen strategy, it creates superior value for customers, and when
competitors are not able to imitate the value the firm's products create or
find it too expensive to attempt imitation.
●● Above-average returns
Answer: are returns in excess of what an investor expects to earn from
other investments with a similar amount of risk.
●● Risk
Answer: is an investor's uncertainty about the economic gains or losses
that will result from a particular investment.
,●● Average returns
Answer: are returns equal to those an investor expects to earn from other
investments with a similar amount of risk.
●● Hypercompetition
Answer: is a condition where competitors engage in intense rivalry,
markets change quickly and often, and entry barriers are low.
●● global economy
Answer: A global economy is one in which goods, services, people,
skills, and ideas move with limited barriers across geographic borders.
●● protectionism
Answer: involves actions taken by a government to protect its economy
from adverse influences due to foreign trade.
●● Globalization
Answer: is the increasing economic interdependence among countries
and their organizations as reflected in the flow of products, financial
capital, and knowledge across country borders.
●● global supply chain
Answer: A global supply chain is a network of firms that spans multiple
countries with the purpose of supplying goods and services.
, ●● global value chain
Answer: A global value chain refers to the processes through which a
firm receives raw materials, uses them to add value through
manufacturing a product that provides greater utility for the consumer,
and sells the product to another firm or the ultimate consumer of the
product, in a global setting.
●● strategic flexibility
Answer: is a set of capabilities firms use to respond to various demands
and opportunities existing in today's dynamic and uncertain competitive
environment.
●● sustainability
Answer: means that a firm should not deplete or destroy natural
elements upon which it depends for survival.
●● Resources
Answer: are inputs into a firm's production process, such as capital
equipment, the skills of individual employees, patents, finances, and
talented managers.
●● capability
Answer: A capability is the capacity for a set of resources to perform a
task or an activity in an integrative manner.
