MBA 705 LSUS Mclaughlin exam 1 2023 UPDATED ACTUAL Questions And
Correct Answers
Terms in this set (101)
Blockholders Large shareholders who monitor firm strategies to ensure effective management.
business model The economic mechanism by which a business hopes to sell its goods or services
and generate a profit.
, CEO duality A situation in which an individual holds both the CEO and chair of the board title
competitive advantage A state whereby a business unit's successful strategies cannot
be easily duplicated by its competitors.
comparative advantage The idea that certain products may be produced more cheaply or at a higher
quality in particular countries due to advantages in labor costs or technology.
Contingency Theory A view that states the most profitable firms are likely to be the ones that develop
the best fit with their environment.
Corporate Governance The board of directors, institutional investors, and blockholders who monitor firm
strategies to ensure managerial responsiveness.
distinctive competence Unique resources, skills, and capabilities that enable a firm to
distinguish itself from its competitors and create competitive advantage.
hedge fund An investment fund open to only a small number of investors but permitted by
regulators to undertake riskier and more speculative investments
Industrial Organization (IO): A view based in microeconomic theory that states firm
profitability is most closely associated with industry structure.
Intended Strategy: The original strategy top management plans and intends to implement.
mission The reason for an organization's existence. The mission statement is a broadly
defined but enduring statement of purpose that identifies the scope of an
organization's operations and its offerings to affected groups (i.e., stakeholders, as
defined later in the book).
Realized Strategy the strategy that actually takes place
Resource-Based Theory The perspective that views performance primarily as a function of a firm's ability to
utilize its resources.
Sarbanes-Oxley Act of 2002 created more detailed reporting
requirements for boards and executives in public U.S. companies and accounting
firms
Strategic Management The continuous process of determining the mission and goals of an organization
within the context of its external environment and its internal strengths and
weaknesses, formulating and implementing strategies, and exerting strategic
control to ensure that the organization's strategies are successful in attaining its
goals.
strategy a plan of action
sustained competitive advantage A firm's ability to enjoy strategic benefits over an extended period of time.
Correct Answers
Terms in this set (101)
Blockholders Large shareholders who monitor firm strategies to ensure effective management.
business model The economic mechanism by which a business hopes to sell its goods or services
and generate a profit.
, CEO duality A situation in which an individual holds both the CEO and chair of the board title
competitive advantage A state whereby a business unit's successful strategies cannot
be easily duplicated by its competitors.
comparative advantage The idea that certain products may be produced more cheaply or at a higher
quality in particular countries due to advantages in labor costs or technology.
Contingency Theory A view that states the most profitable firms are likely to be the ones that develop
the best fit with their environment.
Corporate Governance The board of directors, institutional investors, and blockholders who monitor firm
strategies to ensure managerial responsiveness.
distinctive competence Unique resources, skills, and capabilities that enable a firm to
distinguish itself from its competitors and create competitive advantage.
hedge fund An investment fund open to only a small number of investors but permitted by
regulators to undertake riskier and more speculative investments
Industrial Organization (IO): A view based in microeconomic theory that states firm
profitability is most closely associated with industry structure.
Intended Strategy: The original strategy top management plans and intends to implement.
mission The reason for an organization's existence. The mission statement is a broadly
defined but enduring statement of purpose that identifies the scope of an
organization's operations and its offerings to affected groups (i.e., stakeholders, as
defined later in the book).
Realized Strategy the strategy that actually takes place
Resource-Based Theory The perspective that views performance primarily as a function of a firm's ability to
utilize its resources.
Sarbanes-Oxley Act of 2002 created more detailed reporting
requirements for boards and executives in public U.S. companies and accounting
firms
Strategic Management The continuous process of determining the mission and goals of an organization
within the context of its external environment and its internal strengths and
weaknesses, formulating and implementing strategies, and exerting strategic
control to ensure that the organization's strategies are successful in attaining its
goals.
strategy a plan of action
sustained competitive advantage A firm's ability to enjoy strategic benefits over an extended period of time.
