ISOM 351 Midterm 1 Exam
Questions with Correct Answers
100% PASS
What are the four elements of Strategy - CORRECT ANSWER-DART:
D = Decisions = How to make decision
A = Activities = Which activities are undertaken
R = Resources = How resources will be deployed
T = Tradeoffs = How tradeoffs will be addressed
Boundary Conditions - CORRECT ANSWER-Your strategy must stay within the
bounds of the organization's:
1. Vision
2. Mission
3. Values
Goal of strategy - CORRECT ANSWER-1. Create a competitive advantage
2. Create, capture, and deliver value
,Alignment - CORRECT ANSWER-Consistency in the pattern of decision
- Both within the business model and between strategy, business model, and
execution
Interconnectedness of the decisions
- Decisions about one facet must be made with consideration of each of the others
What is the Business Model Canvas - CORRECT ANSWER-- A business model
aligns internal capabilities with market expectations
- Visualization tool for looking at an organization's Business model
- Purpose--> align internal capabilities to market expectations
What are the four Questions the BMC answers? - CORRECT ANSWER-1. Who
are the customers
2. What do the customers value?
3. What are revenue streams?
4. What is the cost Structure
BMC - Key Activities - CORRECT ANSWER-LHS
The critical processes or works steps needed to deliver value to the customer
Question:
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
, What is the main work that segments want done?
What activities deliver value to the customer? What activities support value
delivery?
What sequence Should the activities be in?
Examples: Delta: In-flight services, bag checking, lounge services
Emory Example: Advising, Dining hall
BMC - Key Partnerships - CORRECT ANSWER-LHS
The critical external entities needed to deliver value to the customer
Questions:
Who owns that? What does what? Who decides about what?
Examples: Suppliers, Suppliers to suppliers, Distributors
BMC - Key Resources - CORRECT ANSWER-LHS
The critical tangible and intangible assets that are internal to the org. needed to
deliver value
Four types:
1. Physical
2. Information
Questions with Correct Answers
100% PASS
What are the four elements of Strategy - CORRECT ANSWER-DART:
D = Decisions = How to make decision
A = Activities = Which activities are undertaken
R = Resources = How resources will be deployed
T = Tradeoffs = How tradeoffs will be addressed
Boundary Conditions - CORRECT ANSWER-Your strategy must stay within the
bounds of the organization's:
1. Vision
2. Mission
3. Values
Goal of strategy - CORRECT ANSWER-1. Create a competitive advantage
2. Create, capture, and deliver value
,Alignment - CORRECT ANSWER-Consistency in the pattern of decision
- Both within the business model and between strategy, business model, and
execution
Interconnectedness of the decisions
- Decisions about one facet must be made with consideration of each of the others
What is the Business Model Canvas - CORRECT ANSWER-- A business model
aligns internal capabilities with market expectations
- Visualization tool for looking at an organization's Business model
- Purpose--> align internal capabilities to market expectations
What are the four Questions the BMC answers? - CORRECT ANSWER-1. Who
are the customers
2. What do the customers value?
3. What are revenue streams?
4. What is the cost Structure
BMC - Key Activities - CORRECT ANSWER-LHS
The critical processes or works steps needed to deliver value to the customer
Question:
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
, What is the main work that segments want done?
What activities deliver value to the customer? What activities support value
delivery?
What sequence Should the activities be in?
Examples: Delta: In-flight services, bag checking, lounge services
Emory Example: Advising, Dining hall
BMC - Key Partnerships - CORRECT ANSWER-LHS
The critical external entities needed to deliver value to the customer
Questions:
Who owns that? What does what? Who decides about what?
Examples: Suppliers, Suppliers to suppliers, Distributors
BMC - Key Resources - CORRECT ANSWER-LHS
The critical tangible and intangible assets that are internal to the org. needed to
deliver value
Four types:
1. Physical
2. Information
