BMGT 301 EXAM 1 UMD, BMGT301 EXAM 2, BMGT301
FINAL EXAM UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. Sustainable Competitive Advantage
Answer:
Financial performance that consistently outperforms industry averages
Question:
2. Operational Effectiveness
Answer:
Performing the same tasks better than rivals perform them.
Question:
3. 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.
Question:
4. Strategic Positioning
Answer:
Performing different tasks than rivals or the same tasks in a different way.
Question:
5. When a firm attempts to match the benefits of a success position while
maintaining its existing position.
Answer:
Straddling
Question:
6. Resource-based Theory of sustainable advantage:
Answer:
Valuable
Rare
Difficult to imitate
For which there are no substitutes.
, Question:
7. Technology can play a key role in creating and
reinforcing assets for sustainable advantage.
Answer:
1. Imitation-Resistant Value Chains, Brand, Scale, Switching Costs and Data,
Differentiation, Network Effects, Distribution Channels, Patents.
Question:
8. Management Information Systems (MIS)
Answer:
Information Inputs: Summary transaction data; high-volume data; simple models
Information Outputs: Summary and exception reports
Users: Middle managers
Question:
9. 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
Question:
10. Executive Support Systems (ESS)
Answer:
Information Inputs: Aggregate data; external, internal
Information Outputs: Projections; responses to queries
Users: Senior managers
FINAL EXAM UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. Sustainable Competitive Advantage
Answer:
Financial performance that consistently outperforms industry averages
Question:
2. Operational Effectiveness
Answer:
Performing the same tasks better than rivals perform them.
Question:
3. 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.
Question:
4. Strategic Positioning
Answer:
Performing different tasks than rivals or the same tasks in a different way.
Question:
5. When a firm attempts to match the benefits of a success position while
maintaining its existing position.
Answer:
Straddling
Question:
6. Resource-based Theory of sustainable advantage:
Answer:
Valuable
Rare
Difficult to imitate
For which there are no substitutes.
, Question:
7. Technology can play a key role in creating and
reinforcing assets for sustainable advantage.
Answer:
1. Imitation-Resistant Value Chains, Brand, Scale, Switching Costs and Data,
Differentiation, Network Effects, Distribution Channels, Patents.
Question:
8. Management Information Systems (MIS)
Answer:
Information Inputs: Summary transaction data; high-volume data; simple models
Information Outputs: Summary and exception reports
Users: Middle managers
Question:
9. 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
Question:
10. Executive Support Systems (ESS)
Answer:
Information Inputs: Aggregate data; external, internal
Information Outputs: Projections; responses to queries
Users: Senior managers
