STRATEGIC MANAGEMENT DUANNE
QUESTION SET WITH RATIONALES AND
GLOBAL BUSINESS ENVIRONMENT AND
COMPETITIVE ADVANTAGE REVIEW 2026
◉ CH 1: Average Returns.
Answer: Returns equal to those an investor expects to earn from
other investments with a similar amount of risk.
◉ CH 1: Capability.
Answer: The capacity for a set of resources to perform a task or an
activity in an integrative manner.
◉ CH 1: Competitive Advantage.
Answer: A strategy that is implemented that creates superior value
for customers and that competitors are unable to duplicate or find it
too costly to try and imitate.
◉ CH 1: Core Competencies.
Answer: Capabilities that serve as a source of competitive advantage
for a firm over its rivals.
, ◉ CH 1: Global Economy.
Answer: One in which goods, services, people, skills, and ideas move
freely across geographic borders.
◉ CH 1: Hypercompetition.
Answer: Competition that is excessive such that it creates inherent
instability and necessitates constant disruptive change for firms in
the competitive landscape.
◉ CH 1: Mission.
Answer: Specifies the businesses in which the firm intends to
compete and the customers it intends to serve.
◉ CH 1: Organizational Culture.
Answer: The complex set of ideologies, symbols, and core values that
are shared throughout the firm and that influence how the firm does
business.
◉ CH 1: Resources.
Answer: Inputs into a firm's production process, such as capital
equipment, the skills of individual employees, patents, finances, and
talented managers.
◉ CH 1: Risk.
QUESTION SET WITH RATIONALES AND
GLOBAL BUSINESS ENVIRONMENT AND
COMPETITIVE ADVANTAGE REVIEW 2026
◉ CH 1: Average Returns.
Answer: Returns equal to those an investor expects to earn from
other investments with a similar amount of risk.
◉ CH 1: Capability.
Answer: The capacity for a set of resources to perform a task or an
activity in an integrative manner.
◉ CH 1: Competitive Advantage.
Answer: A strategy that is implemented that creates superior value
for customers and that competitors are unable to duplicate or find it
too costly to try and imitate.
◉ CH 1: Core Competencies.
Answer: Capabilities that serve as a source of competitive advantage
for a firm over its rivals.
, ◉ CH 1: Global Economy.
Answer: One in which goods, services, people, skills, and ideas move
freely across geographic borders.
◉ CH 1: Hypercompetition.
Answer: Competition that is excessive such that it creates inherent
instability and necessitates constant disruptive change for firms in
the competitive landscape.
◉ CH 1: Mission.
Answer: Specifies the businesses in which the firm intends to
compete and the customers it intends to serve.
◉ CH 1: Organizational Culture.
Answer: The complex set of ideologies, symbols, and core values that
are shared throughout the firm and that influence how the firm does
business.
◉ CH 1: Resources.
Answer: Inputs into a firm's production process, such as capital
equipment, the skills of individual employees, patents, finances, and
talented managers.
◉ CH 1: Risk.
