Management 3300 Exam 1-3 Solutions
ACTUAL Exam Questions and CORRECT
Answers
In two decades, the nation of ________ tech sector has grown from "almost nothing" to a $200
billion industry, expanding even during the recent global recession
A. Brazil
B. South Korea
C. Nigeria
D. India
E. None of these - CORRECT ANSWER - D. India
Based on the Chapter 1 video and class discussion on Artificial Intelligence, what concern(s)
was/were mentioned with respect to using AI to create jobs and recruit candidates?
A. Candidate data privacy
B. Deterioration in entry-level job quality/pay
C. Bias in the application-screening algorithms
D. Both a and b
E. All of these were cited as concerns - CORRECT ANSWER - E. All of these were cited
as concerns
________________ is/are helping to fuel the current age of fast-growth technology
entrepreneurship. This technology means that a startup can rent the computing resources one
previously had to buy at great expense
A. Crowdsourcing
B. Cloud computing
C. The Internet of Things
D. App Stores
E. Consignment - CORRECT ANSWER - B. Cloud computing
,The rise of open source software has lowered computing costs for startup and blue chip
companies worldwide
A. True
B. False - CORRECT ANSWER - A. True
The _____ is a piece of U.S. legislation that raises executive and board responsibility and ties
criminal penalties to certain accounting and financial violations.
A. Dodd-Frank Act
B. Fair Labor Standards Act
C. Sherman Antitrust Act
D. Norris-LaGaurdia Act
E. Sarbanes-Oxley Act - CORRECT ANSWER - E. Sarbanes-Oxley Act
Founders should be wary of crowdfunding sites like Kickstarter, because these efforts require
founders to give up large ownership stakes to a large number of contributors before they can
raise funds to bring products to market.
A. True
B. False - CORRECT ANSWER - B. False
Based on the in-class Excel demonstration, which function was used to merge data residing in
separate columns into a single column?
A. VLOOKUP
B. Concatenate
C. HLOOKUP
D. Text to Columns
E. Pivot Tables - CORRECT ANSWER - B. Concatenate
Based on the Chapter 1 video/discussion on 3D printing, which of the following was NOT
mentioned as a benefit of 3D printing:
,A. Lower transportation costs
B. Manufacturing job increases
C. Faster production times
D. Greater product quality and customization
E. All of these were mentioned as benefits - CORRECT ANSWER - B. Manufacturing job
increases
Technology experts in the area of process design:
A. Work to make sure systems are easy to use
B. Leverage technology to make firms more efficient
C. Specialize in technology to make firms more efficient
D. Focus on systems dealing with critical business data
E. Provide direction on technology-related security issues - CORRECT ANSWER - B.
Leverage technology to make firms more efficient
One contributor to the ease with which young entrepreneurs can have success is low-cost
distribution to massive markets worldwide. This is enabled by:
A. legacy systems
B. Big data and business analytics
C. Esoko and M-Pesa
D. App Stores
E. Sproxil - CORRECT ANSWER - D. App Stores
Many firms choose not to implement operational components of commercially available ERP
software and instead elect to create their own propriety solutions in part because they see their
uniqueness in certain operations areas as key to creating difficult-to-imitate competitive
advantages.
A. True
B. False - CORRECT ANSWER - A. True
, Which of the following statements about technology is true?
A. Technology alone is enough to provide sustainable competitive advantage to a firm
B. Technology plays a marginal role in creating strategic differences
C. Technological improvements can often be copied by rivals, leading to a profit-eroding arms
race
D. Technology cannot be used by late entrants to gain a share of the industry
E. None of these are true - CORRECT ANSWER - C. Technological improvements can
often be copied by rivals, leading to a profit-eroding arms race
The resource-based view of competitive advantage states that for a firm to maintain sustainable
competitive advantage it must control a set of exploitable resources that have four critical
characteristics. What are these characteristics?
A. Inventory turns, high margins, long account payable periods, brand building relationships
B. Rareness, value, imperfect imitability, non substitutability
C. Operational effectiveness, strategic positioning, scale, distribution channels
D. A website, an app, cloud-based systems, a savvy technology staff
E. Low margin, high delivery, infrastructure, customizable - CORRECT ANSWER - B.
Rareness, value, imperfect imitability, non substitutability
Netscape, which once controlled more than 80 percent of the market share in Web browsers, lost
its dominant position when customers migrated to Internet Explorer, Microsoft's Web browser.
Internet Explorer was easy to install and had no significant differences in terms of usability. This
example serves to illustrate that:
A. Fast-following smaller firms are always ready with newer and possibly superior products
B. Customers of technology companies are becoming increasingly savvy and more demanding
C. The open source nature of technology ensures that no firm can expect to monopolize a market
D. Firms need to employ increasingly stringent intellectual property norms to guard against
infringements from smaller, competitive rivals
E. Firms with low switching costs can sometimes be rapidly overtaken by strong rivals with
additional competitive advantages - CORRECT ANSWER - E. Firms with low switching
costs can sometimes be rapidly overtaken by strong rivals with additional competitive
advantages
ACTUAL Exam Questions and CORRECT
Answers
In two decades, the nation of ________ tech sector has grown from "almost nothing" to a $200
billion industry, expanding even during the recent global recession
A. Brazil
B. South Korea
C. Nigeria
D. India
E. None of these - CORRECT ANSWER - D. India
Based on the Chapter 1 video and class discussion on Artificial Intelligence, what concern(s)
was/were mentioned with respect to using AI to create jobs and recruit candidates?
A. Candidate data privacy
B. Deterioration in entry-level job quality/pay
C. Bias in the application-screening algorithms
D. Both a and b
E. All of these were cited as concerns - CORRECT ANSWER - E. All of these were cited
as concerns
________________ is/are helping to fuel the current age of fast-growth technology
entrepreneurship. This technology means that a startup can rent the computing resources one
previously had to buy at great expense
A. Crowdsourcing
B. Cloud computing
C. The Internet of Things
D. App Stores
E. Consignment - CORRECT ANSWER - B. Cloud computing
,The rise of open source software has lowered computing costs for startup and blue chip
companies worldwide
A. True
B. False - CORRECT ANSWER - A. True
The _____ is a piece of U.S. legislation that raises executive and board responsibility and ties
criminal penalties to certain accounting and financial violations.
A. Dodd-Frank Act
B. Fair Labor Standards Act
C. Sherman Antitrust Act
D. Norris-LaGaurdia Act
E. Sarbanes-Oxley Act - CORRECT ANSWER - E. Sarbanes-Oxley Act
Founders should be wary of crowdfunding sites like Kickstarter, because these efforts require
founders to give up large ownership stakes to a large number of contributors before they can
raise funds to bring products to market.
A. True
B. False - CORRECT ANSWER - B. False
Based on the in-class Excel demonstration, which function was used to merge data residing in
separate columns into a single column?
A. VLOOKUP
B. Concatenate
C. HLOOKUP
D. Text to Columns
E. Pivot Tables - CORRECT ANSWER - B. Concatenate
Based on the Chapter 1 video/discussion on 3D printing, which of the following was NOT
mentioned as a benefit of 3D printing:
,A. Lower transportation costs
B. Manufacturing job increases
C. Faster production times
D. Greater product quality and customization
E. All of these were mentioned as benefits - CORRECT ANSWER - B. Manufacturing job
increases
Technology experts in the area of process design:
A. Work to make sure systems are easy to use
B. Leverage technology to make firms more efficient
C. Specialize in technology to make firms more efficient
D. Focus on systems dealing with critical business data
E. Provide direction on technology-related security issues - CORRECT ANSWER - B.
Leverage technology to make firms more efficient
One contributor to the ease with which young entrepreneurs can have success is low-cost
distribution to massive markets worldwide. This is enabled by:
A. legacy systems
B. Big data and business analytics
C. Esoko and M-Pesa
D. App Stores
E. Sproxil - CORRECT ANSWER - D. App Stores
Many firms choose not to implement operational components of commercially available ERP
software and instead elect to create their own propriety solutions in part because they see their
uniqueness in certain operations areas as key to creating difficult-to-imitate competitive
advantages.
A. True
B. False - CORRECT ANSWER - A. True
, Which of the following statements about technology is true?
A. Technology alone is enough to provide sustainable competitive advantage to a firm
B. Technology plays a marginal role in creating strategic differences
C. Technological improvements can often be copied by rivals, leading to a profit-eroding arms
race
D. Technology cannot be used by late entrants to gain a share of the industry
E. None of these are true - CORRECT ANSWER - C. Technological improvements can
often be copied by rivals, leading to a profit-eroding arms race
The resource-based view of competitive advantage states that for a firm to maintain sustainable
competitive advantage it must control a set of exploitable resources that have four critical
characteristics. What are these characteristics?
A. Inventory turns, high margins, long account payable periods, brand building relationships
B. Rareness, value, imperfect imitability, non substitutability
C. Operational effectiveness, strategic positioning, scale, distribution channels
D. A website, an app, cloud-based systems, a savvy technology staff
E. Low margin, high delivery, infrastructure, customizable - CORRECT ANSWER - B.
Rareness, value, imperfect imitability, non substitutability
Netscape, which once controlled more than 80 percent of the market share in Web browsers, lost
its dominant position when customers migrated to Internet Explorer, Microsoft's Web browser.
Internet Explorer was easy to install and had no significant differences in terms of usability. This
example serves to illustrate that:
A. Fast-following smaller firms are always ready with newer and possibly superior products
B. Customers of technology companies are becoming increasingly savvy and more demanding
C. The open source nature of technology ensures that no firm can expect to monopolize a market
D. Firms need to employ increasingly stringent intellectual property norms to guard against
infringements from smaller, competitive rivals
E. Firms with low switching costs can sometimes be rapidly overtaken by strong rivals with
additional competitive advantages - CORRECT ANSWER - E. Firms with low switching
costs can sometimes be rapidly overtaken by strong rivals with additional competitive
advantages
