SEVI 3013 ACTUAL TEST QUESTIONS AND
ANSWERS WITH DETAILED SOLUTION
GUIDE
●● Characteristics of a strategy
Answer: focuses on future and success
●● Corporate strategy
Answer: What industries should we compete in?
●● Business strategy
Answer: How should we compete in our chosen industries?
●● Global Economy
Answer: economy in which goods, services, people, skills, and ideas
move freely across geographic borders
●● Technological diffusion
Answer: speed at which new technologies become available to firms and
when firms choose to adopt them
●● Knowledge intensity
, Answer: consists of information, intelligence, and expertise; basis of
technology and its application
●● Stakeholders
Answer: individuals/entities who may be affected by or affect the firms
outcomes
●● Strategic leaders
Answer: people located in different levels of the firm to select actions
that help the firm achieve its vision and fulfill its mission; decisive and
committed to creating value
●● Above average returns
Answer: investors get yields that exceed what they expect from other
investments with similar risks
●● Key elements of Industrial Organizational (IO) model
Answer: industry-based, external environment, attractive industry,
strategy formulation, assets and skills, strategy implementation, superior
returns
●● 5 forces model
ANSWERS WITH DETAILED SOLUTION
GUIDE
●● Characteristics of a strategy
Answer: focuses on future and success
●● Corporate strategy
Answer: What industries should we compete in?
●● Business strategy
Answer: How should we compete in our chosen industries?
●● Global Economy
Answer: economy in which goods, services, people, skills, and ideas
move freely across geographic borders
●● Technological diffusion
Answer: speed at which new technologies become available to firms and
when firms choose to adopt them
●● Knowledge intensity
, Answer: consists of information, intelligence, and expertise; basis of
technology and its application
●● Stakeholders
Answer: individuals/entities who may be affected by or affect the firms
outcomes
●● Strategic leaders
Answer: people located in different levels of the firm to select actions
that help the firm achieve its vision and fulfill its mission; decisive and
committed to creating value
●● Above average returns
Answer: investors get yields that exceed what they expect from other
investments with similar risks
●● Key elements of Industrial Organizational (IO) model
Answer: industry-based, external environment, attractive industry,
strategy formulation, assets and skills, strategy implementation, superior
returns
●● 5 forces model
