FSU MAN 4720
Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
1. A firm has achieved __________ when it successfully formulates and
implements a value-creating strategy. - Correct Answer: strategic
competitiveness
2. A competitive advantage: - Correct Answer: can be identified when
competitors are unable to duplicate a strategy or find it too costly to try to
imitate.
3. Above-average returns are: - Correct Answer: returns in excess of what
an investor expects to earn from other investments with a similar level of
risk.
4. The strategic management process is: - Correct Answer: the full set of
commitments, decisions, and actions required for a firm to achieve strategic
competitiveness and earn above-average returns.
5. The primary drivers of hypercompetition are __________ and __________.
- Correct Answer: the emergence of a global economy; rapid
technological change
,6. All of the following are characteristics of the global economy EXCEPT: -
Correct Answer: the increased use of tariffs to protect industries.
7. __________ has become one of the world's largest markets, with 700
million potential consumers. - Correct Answer: The European Union
8. __________ has become the second-largest economy in the world. -
Correct Answer: China
9. The increasing economic interdependence among countries and their
organizations as reflected in the flow of goods and services, financial
capital, and knowledge across country borders is defined as: - Correct
Answer: globalization.
10.Globalization has led to: - Correct Answer: higher performance
standards in competitive dimensions, including quality and cost.
11.The "liability of foreignness" is the: - Correct Answer: risk of
participating outside a firm's domestic markets in the global economy.
12.Even for companies capable of succeeding in global markets, it is critical
that they: - Correct Answer: remain committed to and strategically
competitive in their domestic market.
,13.The rate of technological diffusion has increased substantially over the past
15 to 20 years. Which of the following was fastest in penetrating 25 percent
of homes in the United States? - Correct Answer: Internet
14.New markets created by the technologies underlying the development of
products such as iPods, iPads, and Wi-Fi are a result of: - Correct
Answer: disruptive technologies.
15.Henry Ford once said, "If I had asked people what they wanted, they would
have said faster horses." The invention of the car is an early example of: -
Correct Answer: disruptive technologies.
16.A company's ability to acquire knowledge is: - Correct Answer: an
increasingly valuable source of competitive advantage.
17.The CEO of Ridgeway, Inc., realizes that the company's survival depends on
developing and acquiring knowledge. Which of the following actions by the
CEO would be MOST consistent with this need? - Correct Answer:
Planning extensive employee training and hiring educated and experienced
employees
18.Knowledge is composed of all the following EXCEPT: - Correct Answer:
insight.
19.Which of the following statements about organizational knowledge is true?
- Correct Answer: All of these are correct.
, 20.In order to cope with hypercompetition, firms need to develop __________
through continuous learning. - Correct Answer: strategic flexibility
21.All of the following are assumptions of the industrial organization (I/O)
model EXCEPT: - Correct Answer: resources to implement strategies are
firm-specific and attached to firms over the long-term.
22.The industrial organization (I/O) model argues that the: - Correct
Answer: key factor in success is choosing the correct industry in which to
compete.
23.Which of the following statements is MOST consistent with the I/O view?
Performance of a firm is most directly attributable to: - Correct Answer:
the profitability of the industry in which the firm competes.
24.Firms use the five forces model of competition to identify the __________
of an industry, as measured by its __________. - Correct Answer:
attractiveness; profitability potential
25.Although Alibaba is competing in the Internet services industry, it has
improved its performance by focusing on innovation and service
diversification. This improved performance is best explained by: -
Correct Answer: the resource-based model.
An investor is considering in which of two start-up companies to invest. The
investor has faith in the industrial organization (I/O) model of above-average
Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
1. A firm has achieved __________ when it successfully formulates and
implements a value-creating strategy. - Correct Answer: strategic
competitiveness
2. A competitive advantage: - Correct Answer: can be identified when
competitors are unable to duplicate a strategy or find it too costly to try to
imitate.
3. Above-average returns are: - Correct Answer: returns in excess of what
an investor expects to earn from other investments with a similar level of
risk.
4. The strategic management process is: - Correct Answer: the full set of
commitments, decisions, and actions required for a firm to achieve strategic
competitiveness and earn above-average returns.
5. The primary drivers of hypercompetition are __________ and __________.
- Correct Answer: the emergence of a global economy; rapid
technological change
,6. All of the following are characteristics of the global economy EXCEPT: -
Correct Answer: the increased use of tariffs to protect industries.
7. __________ has become one of the world's largest markets, with 700
million potential consumers. - Correct Answer: The European Union
8. __________ has become the second-largest economy in the world. -
Correct Answer: China
9. The increasing economic interdependence among countries and their
organizations as reflected in the flow of goods and services, financial
capital, and knowledge across country borders is defined as: - Correct
Answer: globalization.
10.Globalization has led to: - Correct Answer: higher performance
standards in competitive dimensions, including quality and cost.
11.The "liability of foreignness" is the: - Correct Answer: risk of
participating outside a firm's domestic markets in the global economy.
12.Even for companies capable of succeeding in global markets, it is critical
that they: - Correct Answer: remain committed to and strategically
competitive in their domestic market.
,13.The rate of technological diffusion has increased substantially over the past
15 to 20 years. Which of the following was fastest in penetrating 25 percent
of homes in the United States? - Correct Answer: Internet
14.New markets created by the technologies underlying the development of
products such as iPods, iPads, and Wi-Fi are a result of: - Correct
Answer: disruptive technologies.
15.Henry Ford once said, "If I had asked people what they wanted, they would
have said faster horses." The invention of the car is an early example of: -
Correct Answer: disruptive technologies.
16.A company's ability to acquire knowledge is: - Correct Answer: an
increasingly valuable source of competitive advantage.
17.The CEO of Ridgeway, Inc., realizes that the company's survival depends on
developing and acquiring knowledge. Which of the following actions by the
CEO would be MOST consistent with this need? - Correct Answer:
Planning extensive employee training and hiring educated and experienced
employees
18.Knowledge is composed of all the following EXCEPT: - Correct Answer:
insight.
19.Which of the following statements about organizational knowledge is true?
- Correct Answer: All of these are correct.
, 20.In order to cope with hypercompetition, firms need to develop __________
through continuous learning. - Correct Answer: strategic flexibility
21.All of the following are assumptions of the industrial organization (I/O)
model EXCEPT: - Correct Answer: resources to implement strategies are
firm-specific and attached to firms over the long-term.
22.The industrial organization (I/O) model argues that the: - Correct
Answer: key factor in success is choosing the correct industry in which to
compete.
23.Which of the following statements is MOST consistent with the I/O view?
Performance of a firm is most directly attributable to: - Correct Answer:
the profitability of the industry in which the firm competes.
24.Firms use the five forces model of competition to identify the __________
of an industry, as measured by its __________. - Correct Answer:
attractiveness; profitability potential
25.Although Alibaba is competing in the Internet services industry, it has
improved its performance by focusing on innovation and service
diversification. This improved performance is best explained by: -
Correct Answer: the resource-based model.
An investor is considering in which of two start-up companies to invest. The
investor has faith in the industrial organization (I/O) model of above-average
