LOMA 335 FINAL PAPER 2025/2026 QUESTIONS AND
SOLUTIONS RANKED A+
✔✔Industry Concentration - ✔✔for insurance companies measures the number of
companies within a specified set of companies and the distribution among them of their
total reserves
✔✔Market Dimensions - ✔✔measurable characteristics of a market or an industry,
including number of sellers, buyers, availability of substitute products, role of pricing,
role of advertising, role of regulation and economies of scale
✔✔Barriers to Entry - ✔✔obstacles to a new seller's entry into a market
✔✔economies of scale - ✔✔savings that accrue to a seller having large scale in
financial or operational terms
✔✔Monopolistic Competition - ✔✔market having many sellers, very similar products
and services, insignificant barriers to entry of new sellers, use of brand names and
reliance on advertising
✔✔Oligopoly - ✔✔market having few sellers, undifferentiated products or services,
vigorous advertising and significant barriers to entry of new sellers
✔✔Differentiation Strategy - ✔✔supports growth in broad markets by creating a clear
delineation between a company and competitors
✔✔Low-Cost Strategy - ✔✔supports growth in broad markets by offering customers the
same benefits as other companies, but at a lower cost of production and presumably at
lower price
✔✔Niche Strategy - ✔✔approach to growth through focus on a management practice or
subset of the total market
✔✔Innovation Strategy - ✔✔successfully replacing the industry's present model for
value creation with a groundbreaking new model for value creation
✔✔Knowledge Strategy - ✔✔focuses on developing and exploiting knowledge that no
other firm in industry possesses
✔✔Customer Focus Strategy - ✔✔cultivating either a one-on-one relationship between
individual customer and CSR assigned to customer or by ensuring that the quality of
service provided regardless of contact point surpasses all standards
,✔✔Leader - ✔✔person who influences other people toward the achievement of a vision
or set of goals
✔✔Manager - ✔✔person who has been formally appointed to make decisions, allocate
resources and direct the activities of others
✔✔Leadership - ✔✔ability to influence a group toward the achievement of a vision or
set of goals
✔✔Emotional Intelligence - ✔✔refers to person's ability to monitor and control his
emotions and behavior in complex social setting
✔✔Trust - ✔✔a belief in the integrity, character or ability of others
✔✔Influence - ✔✔any attempt to direct the behavior of followers
✔✔power - ✔✔ability to direct the actions of others
✔✔Authority - ✔✔the right to direct the actions of others
✔✔Legitimate Power - ✔✔formal power, occurs solely because of a person's superior
position over others
✔✔Reward Power - ✔✔formal power, ability to grant rewards to those who comply with
requests or commands
✔✔Coercive Power - ✔✔formal power, mete out punishment to those who disobey
✔✔Expert Power - ✔✔personal power, derives from the skills or expertise than an
individual possesses
✔✔Referent Power - ✔✔personal power, when others identify with a person who has
desirable resources or personal traits and comply solely on that basis
✔✔Rational Persuasion - ✔✔attempting to convince others through the use of logic,
reason, education or detailed plan
✔✔Inspirational Appeals - ✔✔targeting someone's emotions, values or ideals in order to
gain support of your position
✔✔Consultation - ✔✔asking for someone's input in order to influence that person's
acceptance of a decision or plan
, ✔✔Coalition Tactics - ✔✔enlisting the aid or support of others in order to get someone
to agree
✔✔Ingratiating Tactics - ✔✔using flatter, praise or humbling behavior in order to get
someone to do what you want
✔✔Personal Appeals - ✔✔Asking for compliance based on friendship or loyalty
✔✔Legitimacy - ✔✔relying on your formal position or stating that a request complies
with organizational policies or rules
✔✔Exchange Tactics - ✔✔offering to exchange favors with someone in order to get that
person to do what you want
✔✔Pressure Tactics - ✔✔using intimidation, demands or threats to achieve compliance
or support
✔✔Behavior Modification - ✔✔an approach in which an individual systematically
manages environmental factors in order to encourage desirable behavior and
discourage undesirable behavior
✔✔Positive Reinforcement - ✔✔encouraging a specific behavior by immediately
following it with a consequence that is pleasing
✔✔Negative Reinforcement - ✔✔encouraging a specific behavior by immediately
withdrawing or terminating something that an individual finds unpleasant or negative
✔✔Extinction - ✔✔process of discouraging a specific behavior by ignoring it
✔✔Punishment - ✔✔discouraging a specific behavior by immediately presenting an
undesirable consequence or removing something desirable. Discourages a behavior.
✔✔Conflict - ✔✔any struggle that results from incompatible or opposing needs, drives,
or wishes
✔✔Change Agent - ✔✔type of leader who acts as a catalyst and assumes responsibility
for managing change activities for organizations
✔✔Performance Evaluation - ✔✔formal process of reviewing and documenting an
employee's job performance as a basis for making objective personnel decisions
✔✔Cognitive Biases - ✔✔biases in human mind and lead to perceptual distortion
SOLUTIONS RANKED A+
✔✔Industry Concentration - ✔✔for insurance companies measures the number of
companies within a specified set of companies and the distribution among them of their
total reserves
✔✔Market Dimensions - ✔✔measurable characteristics of a market or an industry,
including number of sellers, buyers, availability of substitute products, role of pricing,
role of advertising, role of regulation and economies of scale
✔✔Barriers to Entry - ✔✔obstacles to a new seller's entry into a market
✔✔economies of scale - ✔✔savings that accrue to a seller having large scale in
financial or operational terms
✔✔Monopolistic Competition - ✔✔market having many sellers, very similar products
and services, insignificant barriers to entry of new sellers, use of brand names and
reliance on advertising
✔✔Oligopoly - ✔✔market having few sellers, undifferentiated products or services,
vigorous advertising and significant barriers to entry of new sellers
✔✔Differentiation Strategy - ✔✔supports growth in broad markets by creating a clear
delineation between a company and competitors
✔✔Low-Cost Strategy - ✔✔supports growth in broad markets by offering customers the
same benefits as other companies, but at a lower cost of production and presumably at
lower price
✔✔Niche Strategy - ✔✔approach to growth through focus on a management practice or
subset of the total market
✔✔Innovation Strategy - ✔✔successfully replacing the industry's present model for
value creation with a groundbreaking new model for value creation
✔✔Knowledge Strategy - ✔✔focuses on developing and exploiting knowledge that no
other firm in industry possesses
✔✔Customer Focus Strategy - ✔✔cultivating either a one-on-one relationship between
individual customer and CSR assigned to customer or by ensuring that the quality of
service provided regardless of contact point surpasses all standards
,✔✔Leader - ✔✔person who influences other people toward the achievement of a vision
or set of goals
✔✔Manager - ✔✔person who has been formally appointed to make decisions, allocate
resources and direct the activities of others
✔✔Leadership - ✔✔ability to influence a group toward the achievement of a vision or
set of goals
✔✔Emotional Intelligence - ✔✔refers to person's ability to monitor and control his
emotions and behavior in complex social setting
✔✔Trust - ✔✔a belief in the integrity, character or ability of others
✔✔Influence - ✔✔any attempt to direct the behavior of followers
✔✔power - ✔✔ability to direct the actions of others
✔✔Authority - ✔✔the right to direct the actions of others
✔✔Legitimate Power - ✔✔formal power, occurs solely because of a person's superior
position over others
✔✔Reward Power - ✔✔formal power, ability to grant rewards to those who comply with
requests or commands
✔✔Coercive Power - ✔✔formal power, mete out punishment to those who disobey
✔✔Expert Power - ✔✔personal power, derives from the skills or expertise than an
individual possesses
✔✔Referent Power - ✔✔personal power, when others identify with a person who has
desirable resources or personal traits and comply solely on that basis
✔✔Rational Persuasion - ✔✔attempting to convince others through the use of logic,
reason, education or detailed plan
✔✔Inspirational Appeals - ✔✔targeting someone's emotions, values or ideals in order to
gain support of your position
✔✔Consultation - ✔✔asking for someone's input in order to influence that person's
acceptance of a decision or plan
, ✔✔Coalition Tactics - ✔✔enlisting the aid or support of others in order to get someone
to agree
✔✔Ingratiating Tactics - ✔✔using flatter, praise or humbling behavior in order to get
someone to do what you want
✔✔Personal Appeals - ✔✔Asking for compliance based on friendship or loyalty
✔✔Legitimacy - ✔✔relying on your formal position or stating that a request complies
with organizational policies or rules
✔✔Exchange Tactics - ✔✔offering to exchange favors with someone in order to get that
person to do what you want
✔✔Pressure Tactics - ✔✔using intimidation, demands or threats to achieve compliance
or support
✔✔Behavior Modification - ✔✔an approach in which an individual systematically
manages environmental factors in order to encourage desirable behavior and
discourage undesirable behavior
✔✔Positive Reinforcement - ✔✔encouraging a specific behavior by immediately
following it with a consequence that is pleasing
✔✔Negative Reinforcement - ✔✔encouraging a specific behavior by immediately
withdrawing or terminating something that an individual finds unpleasant or negative
✔✔Extinction - ✔✔process of discouraging a specific behavior by ignoring it
✔✔Punishment - ✔✔discouraging a specific behavior by immediately presenting an
undesirable consequence or removing something desirable. Discourages a behavior.
✔✔Conflict - ✔✔any struggle that results from incompatible or opposing needs, drives,
or wishes
✔✔Change Agent - ✔✔type of leader who acts as a catalyst and assumes responsibility
for managing change activities for organizations
✔✔Performance Evaluation - ✔✔formal process of reviewing and documenting an
employee's job performance as a basis for making objective personnel decisions
✔✔Cognitive Biases - ✔✔biases in human mind and lead to perceptual distortion
