BUAD 341 EXAMINATION TEST 1 QUESTIONS WITH VERIFIED ANSWERS 2026

BUAD 341 EXAMINATION TEST 1 QUESTIONS
WITH VERIFIED ANSWERS 2026

◉ services. Answer: - intangible
- rely on capacity
- high customer interaction
- high variability (heterogeneous)
- highly perishable and time dependent


◉ productivity measures. Answer: (1) partial
(2) total
(3) multifactor


◉ partial productivity measure examples. Answer: = output / labor
= output / material
= output / energy
etc.


◉ total productivity measure example. Answer: = goods and services
produces / all resources

, ◉ multifactor productivity measure example. Answer: = output /
labor + capital


◉ mission statements tell. Answer: - where an organization is going
- purpose for being (what it contributes to society)
- sets boundaries and provide focus


◉ strategy. Answer: - action plan to achieve mission
- general strategy distilled into functional strategy


◉ strategies for competitive advantage. Answer: (1) differentiation
(2) cost
(3) response


◉ competing on differentiation. Answer: offer products that are
different, better, or unique (ex. Tesla, Apple)


◉ competing on cost. Answer: focus on maximizing value to
customer (ex. Walmart)


◉ competing on response. Answer: (1) flexibility (ex. Hewlett
Packard)
(2) reliability (ex. FedEx)