MGT 4893 Final Exam Questions and
All Correct Answers 2026 Updated.
Hickory Divine Furniture - The threat of suppliers in the hardwood furniture can best be
described as - Answer low because there are a large number of suppliers selling an
undifferentiated product.
Mature industries are characterized by - Answer a slowdown in the introduction of new
products or services.
The mission statements of visionary firms - Answer suggest that profit maximizing, while an
important corporate objective, is not their primary reason for existence.
If Sematech's efforts to increase its production capacity resulted in increased complexity and an
inability of managers to control and operate the firm efficiently, this would be an example of -
Answer managerial diseconomies.
The quality of relations among labor and management, an organization's culture, and the
quality of management controls are all examples of - Answer technological software.
Buyers tend to have less power when - Answer the supplies they purchase are an insignificant
portion of the costs of their final products.
If TechnoGeek and VarsityBlue compete in the same market for the same customer and
TechnoGeek generates $900 of economic value each time it sells a product or service while
VarsityBlue generates $400 of economic value each time it sells a product or service,
TechnoGeek has a(n) ________ of $500. - Answer competitive advantage
According to the research in strategic human resources management, - Answer frms that are
able to use human resource practices to develop socially complex human and organizational
resources are able to gain competitive advantage over firms that do not engage in these
practices.
The link between volume of production and the cost of building manufacturing operations is
particularly important in industries characterized by - Answer process manufacturing.
If Delta Airlines were to significantly change its fare structure and flight schedule to enhance its
competitive position in response to aggressive price cutting by Southwest Airlines, this would be
an example of - Answer competitive dynamics.
,If one of LaserTech's rivals were to decide to divest its industrial laser manufacturing business in
response to LaserTech's new technology, this would be an example of - Answer competitive
dynamics.
Hickory divine furniture ; The threat of buyers in this industry is best described as - Answer
low because there are many suppliers, none of which represents a significant
portion of the hardwood furniture industry's sales.
Green Frog is an environmentally friendly firm in the cosmetics industry. If during the strategic
planning process Green Frog tried to determine the critical threats and opportunities in its
competitive environment, it would be performing a(n) - Answer external analysis.
The reward system Bates uses to encourage employees to find ways to reduce costs is an
example of a(n) - Answer compensation policy.
Green Frog is an environmentally friendly firm in the cosmetics industry that has decided to
undertake a strategic planning project. It wants to ensure that it performs the process correctly
and so intends to start the process with the first step of the strategic planning process, which is -
Answer defining its mission.
If Sematech decided to focus on building its technological hardware, it would focus on elements
such as - Answer robots.
Hickory Divine Furniture ; The level of direct competition in the hardwood furniture industry can
best be described as - Answer high because of the numerous firms in the industry and the
slowing growth rate.
Given that the leather handbag market that Coach largely competes in can be considered a
mature market, Coach should focus its product-differentiation efforts on - Answer refining
products as a basis of product differentiation.
HDF ; In this example, composite wood furniture would be an example of a(n) - Answer
substitute.
The inability of rivals to develop or acquire technology similar to that of LaserTech is an
illustration of - Answer resource immobility.
The VRIO assumption that some of the resource and capability differences among firms may be
long lasting because it may be very costly for firms without certain resources and capabilities to
develop or acquire them is known as - Answer resource immobility.
, Which of the following is a reason why it is important for students to study strategy and the
strategic management process? - Answer - Studying strategy and the strategic management
process can give students tools to evaluate the strategies of firms that may employ them.
-It can be very important to a new hire's career success to understand the strategies of the firm
that hired them and their place in implementing these strategies.
- While strategic choices are generally limited to very experienced senior managers in large
organizations, in smaller and entrepreneurial firms many employees end up being involved in
the strategic management process.
(all of these)
Which of the following bases of Coach's competitive advantage is likely to be the easiest to
duplicate? - Answer product features
It would be costly for competitors to duplicate Bates due to - Answer path dependence and
unique historical conditions.
Green Frog is an environmentally friendly firm in the cosmetics industry. Even though Green
Frog is environmentally friendly, the strategic planning team had decided that financial
performance is one of the company's top priorities. Which of the following is the best example
of an objective the company might use to help it achieve its goal of superior financial
performance? - Answer growth in earnings per share averaging 15% or better annually for
the next five years
________ are specific measurable targets a firm can use to evaluate the extent to which it is
realizing its mission. - Answer objectives
Green Frog is an environmentally friendly firm in the cosmetics industry. If Green Frog were
considering expanding beyond the cosmetics industry into pharmaceuticals in order to gain
competitive advantages by operating in multiple markets and industries, this would be an
example of which type of strategy? - Answer corporate level strategy
One feature of Coach's compensation policies is likely to be - Answer rewards for creative
flair.
If a firm's resources and capabilities are costly to imitate because imitating firms may not
understand the relationship between the resources and capabilities controlled by a firm and
that firm's competitive advantage, this competitive advantage is said to be protected from
imitation by - Answer causal ambiguity.
All Correct Answers 2026 Updated.
Hickory Divine Furniture - The threat of suppliers in the hardwood furniture can best be
described as - Answer low because there are a large number of suppliers selling an
undifferentiated product.
Mature industries are characterized by - Answer a slowdown in the introduction of new
products or services.
The mission statements of visionary firms - Answer suggest that profit maximizing, while an
important corporate objective, is not their primary reason for existence.
If Sematech's efforts to increase its production capacity resulted in increased complexity and an
inability of managers to control and operate the firm efficiently, this would be an example of -
Answer managerial diseconomies.
The quality of relations among labor and management, an organization's culture, and the
quality of management controls are all examples of - Answer technological software.
Buyers tend to have less power when - Answer the supplies they purchase are an insignificant
portion of the costs of their final products.
If TechnoGeek and VarsityBlue compete in the same market for the same customer and
TechnoGeek generates $900 of economic value each time it sells a product or service while
VarsityBlue generates $400 of economic value each time it sells a product or service,
TechnoGeek has a(n) ________ of $500. - Answer competitive advantage
According to the research in strategic human resources management, - Answer frms that are
able to use human resource practices to develop socially complex human and organizational
resources are able to gain competitive advantage over firms that do not engage in these
practices.
The link between volume of production and the cost of building manufacturing operations is
particularly important in industries characterized by - Answer process manufacturing.
If Delta Airlines were to significantly change its fare structure and flight schedule to enhance its
competitive position in response to aggressive price cutting by Southwest Airlines, this would be
an example of - Answer competitive dynamics.
,If one of LaserTech's rivals were to decide to divest its industrial laser manufacturing business in
response to LaserTech's new technology, this would be an example of - Answer competitive
dynamics.
Hickory divine furniture ; The threat of buyers in this industry is best described as - Answer
low because there are many suppliers, none of which represents a significant
portion of the hardwood furniture industry's sales.
Green Frog is an environmentally friendly firm in the cosmetics industry. If during the strategic
planning process Green Frog tried to determine the critical threats and opportunities in its
competitive environment, it would be performing a(n) - Answer external analysis.
The reward system Bates uses to encourage employees to find ways to reduce costs is an
example of a(n) - Answer compensation policy.
Green Frog is an environmentally friendly firm in the cosmetics industry that has decided to
undertake a strategic planning project. It wants to ensure that it performs the process correctly
and so intends to start the process with the first step of the strategic planning process, which is -
Answer defining its mission.
If Sematech decided to focus on building its technological hardware, it would focus on elements
such as - Answer robots.
Hickory Divine Furniture ; The level of direct competition in the hardwood furniture industry can
best be described as - Answer high because of the numerous firms in the industry and the
slowing growth rate.
Given that the leather handbag market that Coach largely competes in can be considered a
mature market, Coach should focus its product-differentiation efforts on - Answer refining
products as a basis of product differentiation.
HDF ; In this example, composite wood furniture would be an example of a(n) - Answer
substitute.
The inability of rivals to develop or acquire technology similar to that of LaserTech is an
illustration of - Answer resource immobility.
The VRIO assumption that some of the resource and capability differences among firms may be
long lasting because it may be very costly for firms without certain resources and capabilities to
develop or acquire them is known as - Answer resource immobility.
, Which of the following is a reason why it is important for students to study strategy and the
strategic management process? - Answer - Studying strategy and the strategic management
process can give students tools to evaluate the strategies of firms that may employ them.
-It can be very important to a new hire's career success to understand the strategies of the firm
that hired them and their place in implementing these strategies.
- While strategic choices are generally limited to very experienced senior managers in large
organizations, in smaller and entrepreneurial firms many employees end up being involved in
the strategic management process.
(all of these)
Which of the following bases of Coach's competitive advantage is likely to be the easiest to
duplicate? - Answer product features
It would be costly for competitors to duplicate Bates due to - Answer path dependence and
unique historical conditions.
Green Frog is an environmentally friendly firm in the cosmetics industry. Even though Green
Frog is environmentally friendly, the strategic planning team had decided that financial
performance is one of the company's top priorities. Which of the following is the best example
of an objective the company might use to help it achieve its goal of superior financial
performance? - Answer growth in earnings per share averaging 15% or better annually for
the next five years
________ are specific measurable targets a firm can use to evaluate the extent to which it is
realizing its mission. - Answer objectives
Green Frog is an environmentally friendly firm in the cosmetics industry. If Green Frog were
considering expanding beyond the cosmetics industry into pharmaceuticals in order to gain
competitive advantages by operating in multiple markets and industries, this would be an
example of which type of strategy? - Answer corporate level strategy
One feature of Coach's compensation policies is likely to be - Answer rewards for creative
flair.
If a firm's resources and capabilities are costly to imitate because imitating firms may not
understand the relationship between the resources and capabilities controlled by a firm and
that firm's competitive advantage, this competitive advantage is said to be protected from
imitation by - Answer causal ambiguity.
