BUSI 4940 UNT EXAM 1 2025/2026
QUESTIONS AND ANSWERS 100% PASS
An effective vision statement tends to be:
a.long and detailed.
b.more concrete than a firm's mission.
c.short and concise.
d.founded from the firm's mission. - ANS C
Walmart and Amazon are examples of organizations that earn above-average returns by using a
_____ strategy.
a.cost leadership
b.focus
c.differentiation
d.consolidation - ANS A
Toy Joy Company is a start-up toy company. Its owners have decided to use the industrial
organization (I/O) model to pursue strategic competitiveness and earn above-average returns.
Toy Joy's first step in using the model would be to:
a.locate an industry with high potential for above-average returns.
b.study the external environment, especially the industry environment.
c.identify the firm's resources.
d.identify a strategy. - ANS B
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Kristine Woods and her husband, Liam, own a café, Simply Healthy, in their hometown. Simply
Healthy offers only natural and healthy options on its menu and uses only locally grown food. It
charges slightly higher prices than the other restaurants in town, but health-conscious
customers are willing to pay a premium. Simply Healthy operates using a _____ strategy.
a.differentiation
b.focus
c.cost leadership
d.consolidation - ANS A
The quality of a firm's performance is reflected in its ability to:
a.achieve strategic competitiveness.
b.engage in perpetual innovation.
c.earn average returns.
d.achieve strategic flexibility. - ANS A
Which of the following would NOT be considered a resource?
a.A patent
b.Finances
c.An employee's skills
d.A competitor's skills - ANS D
_____ is a set of capabilities firms use to respond to various demands and opportunities
existing in today's dynamic and uncertain competitive environment.
a.Strategic flexibility
b.Strategic competitiveness
c.Perpetual innovation
d.Organizational culture - ANS A
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Motorvate is a start-up rental car company. Its owners have decided to use the resource-based
model to pursue strategic competitiveness and earn above-average returns. Motorvate's first
step in using the model would be to:
a.determine the firm's capabilities.
b.locate an attractive industry.
c.study the external environment, especially the industry environment.
d.identify the firm's resources. - ANS D
Guinness Enterprises is a multinational corporation (MNC) that was established 75 years ago.
One of the goals of Harry Walker, the new Chief Executive Officer (CEO), is to make the firm
strategically flexible. Harry should know that:
a.it is impossible to develop strategic flexibility in all areas of an organization's operations.
b.a firm's focus and past core competencies can help expedite strategic flexibility.
c.the most effective way to implement strategic flexibility is through intermittent training
courses.
d.building strategic flexibility is not easy, largely because of inertia that can build over time. -
ANS D
According to the industrial organization (I/O) model, an attractive industry is one:
a.with fierce competition.
b.in which a company can use a focus strategy rather than a cost leadership or differentiation
strategy.
c.with opportunities that can be exploited by the firm's resources and capabilities.
d.whose structural characteristics suggest above-average returns. - ANS D
Ranger Landscaping's website states the following: "Ranger Landscaping is a service-oriented
business that provides lawn care and landscape design, installation, and maintenance. We are
committed to a professional approach to our business and to providing our customers with
individualized attention and 100 percent satisfaction." This statement represents Ranger
Landscaping's:
a.tagline.
b.mission.
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, c.vision.
d.code of ethics. - ANS B
The basis of competition has shifted from _____ to _____.
a.experience; tangible resources
b.customer satisfaction; management
c.tangible assets; intangible resources
d.employee skills; technology innovation - ANS C
Which of the following criterion is most likely to be used to measure the success of a small, new
company, Hippolite Mud Resort, which opened six months ago?
a.Return on assets
b.Speed of growth
c.Beginning stock price
d.Strategies - ANS B
Which of the following is an example of an intangible resource requiring managerial attention?
a.The depreciation of assets owned by the business
b.The purchase of inventory
c.The amount of cash a business has on hand
d.Relationships with customers and suppliers - ANS D
Perpetual innovation is a term used to describe:
a.technologies that destroy the value of an existing technology and create new markets.
b.the technology involving the development, maintenance, and use of computer systems,
software, and networks for the processing and distribution of data.
c.an incremental innovation that enables or sustains an existing product.
d.how rapidly and consistently new, information-intensive technologies replace older ones. -
ANS D
4 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
QUESTIONS AND ANSWERS 100% PASS
An effective vision statement tends to be:
a.long and detailed.
b.more concrete than a firm's mission.
c.short and concise.
d.founded from the firm's mission. - ANS C
Walmart and Amazon are examples of organizations that earn above-average returns by using a
_____ strategy.
a.cost leadership
b.focus
c.differentiation
d.consolidation - ANS A
Toy Joy Company is a start-up toy company. Its owners have decided to use the industrial
organization (I/O) model to pursue strategic competitiveness and earn above-average returns.
Toy Joy's first step in using the model would be to:
a.locate an industry with high potential for above-average returns.
b.study the external environment, especially the industry environment.
c.identify the firm's resources.
d.identify a strategy. - ANS B
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Kristine Woods and her husband, Liam, own a café, Simply Healthy, in their hometown. Simply
Healthy offers only natural and healthy options on its menu and uses only locally grown food. It
charges slightly higher prices than the other restaurants in town, but health-conscious
customers are willing to pay a premium. Simply Healthy operates using a _____ strategy.
a.differentiation
b.focus
c.cost leadership
d.consolidation - ANS A
The quality of a firm's performance is reflected in its ability to:
a.achieve strategic competitiveness.
b.engage in perpetual innovation.
c.earn average returns.
d.achieve strategic flexibility. - ANS A
Which of the following would NOT be considered a resource?
a.A patent
b.Finances
c.An employee's skills
d.A competitor's skills - ANS D
_____ is a set of capabilities firms use to respond to various demands and opportunities
existing in today's dynamic and uncertain competitive environment.
a.Strategic flexibility
b.Strategic competitiveness
c.Perpetual innovation
d.Organizational culture - ANS A
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Motorvate is a start-up rental car company. Its owners have decided to use the resource-based
model to pursue strategic competitiveness and earn above-average returns. Motorvate's first
step in using the model would be to:
a.determine the firm's capabilities.
b.locate an attractive industry.
c.study the external environment, especially the industry environment.
d.identify the firm's resources. - ANS D
Guinness Enterprises is a multinational corporation (MNC) that was established 75 years ago.
One of the goals of Harry Walker, the new Chief Executive Officer (CEO), is to make the firm
strategically flexible. Harry should know that:
a.it is impossible to develop strategic flexibility in all areas of an organization's operations.
b.a firm's focus and past core competencies can help expedite strategic flexibility.
c.the most effective way to implement strategic flexibility is through intermittent training
courses.
d.building strategic flexibility is not easy, largely because of inertia that can build over time. -
ANS D
According to the industrial organization (I/O) model, an attractive industry is one:
a.with fierce competition.
b.in which a company can use a focus strategy rather than a cost leadership or differentiation
strategy.
c.with opportunities that can be exploited by the firm's resources and capabilities.
d.whose structural characteristics suggest above-average returns. - ANS D
Ranger Landscaping's website states the following: "Ranger Landscaping is a service-oriented
business that provides lawn care and landscape design, installation, and maintenance. We are
committed to a professional approach to our business and to providing our customers with
individualized attention and 100 percent satisfaction." This statement represents Ranger
Landscaping's:
a.tagline.
b.mission.
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, c.vision.
d.code of ethics. - ANS B
The basis of competition has shifted from _____ to _____.
a.experience; tangible resources
b.customer satisfaction; management
c.tangible assets; intangible resources
d.employee skills; technology innovation - ANS C
Which of the following criterion is most likely to be used to measure the success of a small, new
company, Hippolite Mud Resort, which opened six months ago?
a.Return on assets
b.Speed of growth
c.Beginning stock price
d.Strategies - ANS B
Which of the following is an example of an intangible resource requiring managerial attention?
a.The depreciation of assets owned by the business
b.The purchase of inventory
c.The amount of cash a business has on hand
d.Relationships with customers and suppliers - ANS D
Perpetual innovation is a term used to describe:
a.technologies that destroy the value of an existing technology and create new markets.
b.the technology involving the development, maintenance, and use of computer systems,
software, and networks for the processing and distribution of data.
c.an incremental innovation that enables or sustains an existing product.
d.how rapidly and consistently new, information-intensive technologies replace older ones. -
ANS D
4 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
