MBA 705 FINAL EXAM COMPLETE MOCK
EXAM AND STUDY GUIDE WITH STRATEGIC
DECISION MAKING AND ANALYSIS
◉ business unit.
Answer: organizational entity with its own unique mission, set of
competitors & industry
◉ competitive advantage.
Answer: state whereby a business unit's successful strategies cannot
be easily duplicated by its competitors
◉ differentiation strategy.
Answer: in which a larger business produces & markets to the entire
industry products or services that can be readily distinguished from
those of its competitors
◉ first-mover advantages.
Answer: benefits derived from being the first firm to offer a new or
modified product or service
◉ focus differentiation strategy.
,Answer: in which a smaller business produces highly differentiated
products or services for the specialized needs of a market niche.
◉ Focus—Low-Cost-Differentiation Strategy.
Answer: in which a smaller business produces highly differentiated
products or services for the specialized needs of a select group of
customers while keeping its costs low.
◉ Focus low-cost strategy.
Answer: in which a smaller business keeps overall costs low while
producing no-frills products or services for a market niche with
elastic demand.
◉ generic strategies.
Answer: strategies that can be adopted by business units to guide
their organizations
◉ intrapreneurship.
Answer: the creation of new business ventures within an existing
firm
◉ low-cost--differentiation strategy.
, Answer: business unit strategy in which a larger business unit
maintains low costs while producing distinct products or services
industry-wide for a large market with a relatively inelastic demand.
◉ low-cost strategy.
Answer: business unit strategy in which a larger business produces,
at the lowest cost possible, no-frills products and services industry-
wide for a large market with a relatively elastic demand.
◉ micro-localization.
Answer: Customizing products and services to suit the taste and
needs of diverse consumers across a nation or region.
◉ multiple strategies.
Answer: strategic alternative for a larger business unit in which the
organization simultaneously employs more than one of the generic
business strategies.
◉ process innovations.
Answer: business unit's activities that enhance the differentiation of
its products or services
◉ product innovations.
EXAM AND STUDY GUIDE WITH STRATEGIC
DECISION MAKING AND ANALYSIS
◉ business unit.
Answer: organizational entity with its own unique mission, set of
competitors & industry
◉ competitive advantage.
Answer: state whereby a business unit's successful strategies cannot
be easily duplicated by its competitors
◉ differentiation strategy.
Answer: in which a larger business produces & markets to the entire
industry products or services that can be readily distinguished from
those of its competitors
◉ first-mover advantages.
Answer: benefits derived from being the first firm to offer a new or
modified product or service
◉ focus differentiation strategy.
,Answer: in which a smaller business produces highly differentiated
products or services for the specialized needs of a market niche.
◉ Focus—Low-Cost-Differentiation Strategy.
Answer: in which a smaller business produces highly differentiated
products or services for the specialized needs of a select group of
customers while keeping its costs low.
◉ Focus low-cost strategy.
Answer: in which a smaller business keeps overall costs low while
producing no-frills products or services for a market niche with
elastic demand.
◉ generic strategies.
Answer: strategies that can be adopted by business units to guide
their organizations
◉ intrapreneurship.
Answer: the creation of new business ventures within an existing
firm
◉ low-cost--differentiation strategy.
, Answer: business unit strategy in which a larger business unit
maintains low costs while producing distinct products or services
industry-wide for a large market with a relatively inelastic demand.
◉ low-cost strategy.
Answer: business unit strategy in which a larger business produces,
at the lowest cost possible, no-frills products and services industry-
wide for a large market with a relatively elastic demand.
◉ micro-localization.
Answer: Customizing products and services to suit the taste and
needs of diverse consumers across a nation or region.
◉ multiple strategies.
Answer: strategic alternative for a larger business unit in which the
organization simultaneously employs more than one of the generic
business strategies.
◉ process innovations.
Answer: business unit's activities that enhance the differentiation of
its products or services
◉ product innovations.
