DAVIS, BADM 4801
MIDTERM EXAM
QUESTIONS AND
ANSWERS
, DAVIS, BADM 4801 MIDTERM EXAM QUESTIONS AND
ANSWERS
Above-average returns - - Answer --earned when the firm uses its valuable, rare, costly-to-
imitate, and non- substitutable resources and capabilities to compete against its rivals in one or
more industries
Acquisition - - Answer --an asset or object bought or obtained
Average returns - - Answer --the simple mathematical average of a series of returns generated
over a specified period of time
Business model - - Answer --a company's plan for making a profit
Business-level strategy - - Answer --strategies that examine how firms compete in a given
industry
Capability - - Answer --the power or ability to do something
Competitive action - - Answer --a strategic or tactical action the firm takes to build or defend its
competitive advantages or improve its market position
COMPETITIVE ADVANTAGE - - Answer --factors that allow a company to produce goods or
services better or more cheaply than its rivals.
Competitive behavior - - Answer --the actions and steps taken by a firm to build or reduce the
competition and to increase the market ration
Competitive dynamics - - Answer --a term used to define a gamut of actions as well as reactions
of companies taking part in a competitive business environment comprising of multiple rivals
and stakeholders
Competitive response - - Answer --a type of competitive action carried out by a firm in direct or
indirect reaction to an initial action from a rival firm
Competitive rivalry - - Answer --a measure of the extent of competition among existing firms
Competitor analysis - - Answer --a multi-faceted assessment of
Competitor intelligence - - Answer --understanding the movements and decisions of competitors
in your industry
Competitors - - Answer --an organization engaged in commercial or economic competition with
others
Complementors - - Answer --a company that sells a product or service that complements the
products or services of another company
Core competencies - - Answer --the resources and capabilities that comprise the strategic
advantages of a business
MIDTERM EXAM
QUESTIONS AND
ANSWERS
, DAVIS, BADM 4801 MIDTERM EXAM QUESTIONS AND
ANSWERS
Above-average returns - - Answer --earned when the firm uses its valuable, rare, costly-to-
imitate, and non- substitutable resources and capabilities to compete against its rivals in one or
more industries
Acquisition - - Answer --an asset or object bought or obtained
Average returns - - Answer --the simple mathematical average of a series of returns generated
over a specified period of time
Business model - - Answer --a company's plan for making a profit
Business-level strategy - - Answer --strategies that examine how firms compete in a given
industry
Capability - - Answer --the power or ability to do something
Competitive action - - Answer --a strategic or tactical action the firm takes to build or defend its
competitive advantages or improve its market position
COMPETITIVE ADVANTAGE - - Answer --factors that allow a company to produce goods or
services better or more cheaply than its rivals.
Competitive behavior - - Answer --the actions and steps taken by a firm to build or reduce the
competition and to increase the market ration
Competitive dynamics - - Answer --a term used to define a gamut of actions as well as reactions
of companies taking part in a competitive business environment comprising of multiple rivals
and stakeholders
Competitive response - - Answer --a type of competitive action carried out by a firm in direct or
indirect reaction to an initial action from a rival firm
Competitive rivalry - - Answer --a measure of the extent of competition among existing firms
Competitor analysis - - Answer --a multi-faceted assessment of
Competitor intelligence - - Answer --understanding the movements and decisions of competitors
in your industry
Competitors - - Answer --an organization engaged in commercial or economic competition with
others
Complementors - - Answer --a company that sells a product or service that complements the
products or services of another company
Core competencies - - Answer --the resources and capabilities that comprise the strategic
advantages of a business
