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BSG QUIZ 1 2026\2027
QUESTIONS AND
ANSWERS.
1. Although Michael Porter is known as an IO economist and
his emphasis on industry analysis, his ______ framework
allows for competitive advantage to be gained through
uniqueness, with firms following a ______ strategy. -
CORRECT ANSWER - generic strategies; differentiation
2. According to the textbook, what are the Five Generic
Competitive Strategy Options? - CORRECT ANSWER -
overall lowcost provider strategy, broad differentiation
strategy, focused low-cost strategy, focused differentiation
strategy, best-cost provider strategy
3. Rumelt's criteria for strategy evaluation are:
Feasibility, consistency, consonance, and __________ -
CORRECT ANSWER - Advantage
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4. What labels go with the designated areas in Kotler's model?
- CORRECT ANSWER - Core Product, Actual Product,
Augmented Product
5. What do the letters V-R-I-O stand for in the VRIO framework
(concerning a firm's resources)? - CORRECT ANSWER -
Value :
Does the resource strength/capability have competitive value?
Rare: Do many or most rivals have much the same resource or
capability?
Imitability: Is the resource or capability hard or costly to
imitate? Organization: Is firm organized to capture value from
resource/capability?
6. What are the names given to the quadrants in the
positioning map shown below? - CORRECT ANSWER -
Maverick competitors, Clone competitors, Off-radar
competitors, Parallel competitors
7. A company produces fat-free and low-fat snacks under the
brand name Healthy Bites. The firm decides to set up
counters in the retail stores which stock its products with
representatives who will promote the products and explain
its health benefits to consumers. The firm aims to increase
the sale of Healthy Bites products in these stores. In this
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example, which of the following best describes the
company's strategy? - CORRECT ANSWER - market
penetration
8. GE is know as a diversified conglomerate, operating in a
number of different
Industries, including Power, Aviation, Healthcare,
Transportation, etc.
In 2016 GE sold its Appliances division to Haier. From GE's
perspective, this
Is an example of a _______ strategy, and it is also an example
of a ______
Strategy decision. - CORRECT ANSWER - Divestment;
Corporatelevel
9. Comfort Shoes Inc. Is a firm that manufactures orthopedic
shoes and sells them at retail stores in New York. Based on
the popularity of the shoes, the firm decides to expand
operations to other regions. In this example, Comfort Shoes
Inc. Uses which of the following strategies? - CORRECT
ANSWER - market development
10. Which of the following is the best example of a horizontal
integration strategy? - CORRECT ANSWER - The merger
of Glaxo with Smith-Kline Beechum
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11. What are the four categories of grand strategies identified in
class? - CORRECT ANSWER - Integration (Forward
Vertical,
Backward Vertical, Horizontal)
Intensive (Market development, product development, market
penetration)
Diversification (concentric and conglomerate)
Defensive (retrenchment, divestment, liquidation)
12. The letters in the S-C-P paradigm stand for: - CORRECT
ANSWER
- Structure, conduct, performance
13. A skill or activity in which a firm excels compared to rival
firms is known as a (an): - CORRECT ANSWER -
Distinctive competence
14. A company manufacturing hockey sticks makes an annual
assessment of its resources in terms of raw materials,
technical expertise, and technological knowhow. It assesses
the type of competition that it faces in the sports goods
market and also looks out for opportunities that would allow
BSG QUIZ 1 2026\2027
QUESTIONS AND
ANSWERS.
1. Although Michael Porter is known as an IO economist and
his emphasis on industry analysis, his ______ framework
allows for competitive advantage to be gained through
uniqueness, with firms following a ______ strategy. -
CORRECT ANSWER - generic strategies; differentiation
2. According to the textbook, what are the Five Generic
Competitive Strategy Options? - CORRECT ANSWER -
overall lowcost provider strategy, broad differentiation
strategy, focused low-cost strategy, focused differentiation
strategy, best-cost provider strategy
3. Rumelt's criteria for strategy evaluation are:
Feasibility, consistency, consonance, and __________ -
CORRECT ANSWER - Advantage
, Page | 2
4. What labels go with the designated areas in Kotler's model?
- CORRECT ANSWER - Core Product, Actual Product,
Augmented Product
5. What do the letters V-R-I-O stand for in the VRIO framework
(concerning a firm's resources)? - CORRECT ANSWER -
Value :
Does the resource strength/capability have competitive value?
Rare: Do many or most rivals have much the same resource or
capability?
Imitability: Is the resource or capability hard or costly to
imitate? Organization: Is firm organized to capture value from
resource/capability?
6. What are the names given to the quadrants in the
positioning map shown below? - CORRECT ANSWER -
Maverick competitors, Clone competitors, Off-radar
competitors, Parallel competitors
7. A company produces fat-free and low-fat snacks under the
brand name Healthy Bites. The firm decides to set up
counters in the retail stores which stock its products with
representatives who will promote the products and explain
its health benefits to consumers. The firm aims to increase
the sale of Healthy Bites products in these stores. In this
, Page | 3
example, which of the following best describes the
company's strategy? - CORRECT ANSWER - market
penetration
8. GE is know as a diversified conglomerate, operating in a
number of different
Industries, including Power, Aviation, Healthcare,
Transportation, etc.
In 2016 GE sold its Appliances division to Haier. From GE's
perspective, this
Is an example of a _______ strategy, and it is also an example
of a ______
Strategy decision. - CORRECT ANSWER - Divestment;
Corporatelevel
9. Comfort Shoes Inc. Is a firm that manufactures orthopedic
shoes and sells them at retail stores in New York. Based on
the popularity of the shoes, the firm decides to expand
operations to other regions. In this example, Comfort Shoes
Inc. Uses which of the following strategies? - CORRECT
ANSWER - market development
10. Which of the following is the best example of a horizontal
integration strategy? - CORRECT ANSWER - The merger
of Glaxo with Smith-Kline Beechum
, Page | 4
11. What are the four categories of grand strategies identified in
class? - CORRECT ANSWER - Integration (Forward
Vertical,
Backward Vertical, Horizontal)
Intensive (Market development, product development, market
penetration)
Diversification (concentric and conglomerate)
Defensive (retrenchment, divestment, liquidation)
12. The letters in the S-C-P paradigm stand for: - CORRECT
ANSWER
- Structure, conduct, performance
13. A skill or activity in which a firm excels compared to rival
firms is known as a (an): - CORRECT ANSWER -
Distinctive competence
14. A company manufacturing hockey sticks makes an annual
assessment of its resources in terms of raw materials,
technical expertise, and technological knowhow. It assesses
the type of competition that it faces in the sports goods
market and also looks out for opportunities that would allow
