BUSA 4980 Quiz Questions - Test 1
Questions with Guaranteed Pass
Solutions 2026.
(T/F) The I/O (industrial organization) model assumes that the uniqueness of a firm's resources
and capabilities is its main source of above-average returns. - Answer false
A firm has achieved ______ when it successfully formulates and implements a value-creating
strategy.
a) Strategic competitiveness
b) A permanently sustainable competitive advantage
c) Substantial returns
d) Legal and ethical core values - Answer a
Which of the following elements of strategy entail specifying the speed and sequence of
strategic moves?
a) Arena
b) Vehicles
c) Differentiators
d) Staging - Answer d
In order to cope with hyper-competition, firms need to develop ______ through continuous
learning.
a) Competitive resilience
b) Strategic flexibility
c) Strategic power
d) Competitive dominance - Answer b
All of the following are assumptions of the resource-based model EXCEPT:
, d) Select a strategy that allows the firm to utilize its capabilities relative to market opportunities
- Answer c
Which of the following refers to a bundle of resources that allow a company to perform a task
or an activity in an integrative manner?
a) A capability
b) A core competence
c) Sustainable competitive advantage
d) Organizational intelligence - Answer a
Which of the following is an integrated and coordinated set of commitments and actions
designed to exploit core competencies and gain a competitive advantage?
a) Goal
b) Strategy
c) Vision
d) Mission statement - Answer b
Which if the following criteria for assessing the effectiveness of a strategy entails addressing
whether the management team is capable and willing to lead the required changes?
a) Goodness of fit
b) Competitive advantage
c) Consistency
d) Risk - Answer d
The three parts of the external environment that affect a firm's strategic actions are:
a) economic, political, and legal
b) general, industry, and competitor
c) industry, business, and product
Questions with Guaranteed Pass
Solutions 2026.
(T/F) The I/O (industrial organization) model assumes that the uniqueness of a firm's resources
and capabilities is its main source of above-average returns. - Answer false
A firm has achieved ______ when it successfully formulates and implements a value-creating
strategy.
a) Strategic competitiveness
b) A permanently sustainable competitive advantage
c) Substantial returns
d) Legal and ethical core values - Answer a
Which of the following elements of strategy entail specifying the speed and sequence of
strategic moves?
a) Arena
b) Vehicles
c) Differentiators
d) Staging - Answer d
In order to cope with hyper-competition, firms need to develop ______ through continuous
learning.
a) Competitive resilience
b) Strategic flexibility
c) Strategic power
d) Competitive dominance - Answer b
All of the following are assumptions of the resource-based model EXCEPT:
, d) Select a strategy that allows the firm to utilize its capabilities relative to market opportunities
- Answer c
Which of the following refers to a bundle of resources that allow a company to perform a task
or an activity in an integrative manner?
a) A capability
b) A core competence
c) Sustainable competitive advantage
d) Organizational intelligence - Answer a
Which of the following is an integrated and coordinated set of commitments and actions
designed to exploit core competencies and gain a competitive advantage?
a) Goal
b) Strategy
c) Vision
d) Mission statement - Answer b
Which if the following criteria for assessing the effectiveness of a strategy entails addressing
whether the management team is capable and willing to lead the required changes?
a) Goodness of fit
b) Competitive advantage
c) Consistency
d) Risk - Answer d
The three parts of the external environment that affect a firm's strategic actions are:
a) economic, political, and legal
b) general, industry, and competitor
c) industry, business, and product
