MBA 703 COMPREHENSIVE EXAM 2026 QUESTIONS AND
ANSWERS GRADED A+
✔✔Being aware of major sources of competitive advantages can help managers: -
✔✔Recognize an organization opportunities & vulnerabilities
Brainstorm winning strategies
✔✔Firms w/ an effective strategic position can create assets that reinforce one another:
- ✔✔Creates advantages that are difficult for rivals to successfully challenge
✔✔Value Chain: - ✔✔Set of activities through which a product or service is created &
delivered to customers
*example) elements in in FreshDirect's value chain work together to create and
reinforce competitive advantages that others cannot easily copy
✔✔Imitation-resisted value chains - ✔✔Way of doing business that competitors struggle
to replicate and that involves technology in a key enabling role
✔✔Straddling - ✔✔Attempts to occupy more than one position, while failing to match
the benefits of a more efficient, singularly focused rival.
✔✔Imitation —resistant value chains- - ✔✔Incumbents would be straddles b/t two
business models, unable to reap full advantages of either
✔✔How does an organization create value? - ✔✔Value is the amount of money that a
customer is willing to pay - Value is at the heart of every business
✔✔Understanding the ways your company creates value: - ✔✔CRITICAL to stay
competitive
✔✔Porter identifies a chain of activities common to all business & divided into 2 groups:
- ✔✔1. Primary activities (5 generic categories)
2. Support activities (4 generic categories)
✔✔What are the 5 primary activities in Porters Value Chain model? - ✔✔1. Inbound
logistics
2. Operations / manufacturing
3. Outbound logistics
4. Sales & marketing
5. Customer service
✔✔What are the 4 support activities in Porters Value Chain Model? - ✔✔1. Firm
infrastructure
2. HRM
, 3. Technology Development
4. Procurement
✔✔A firms value chain reveals ______ in business processes - ✔✔Weaknesses
*IS can be applied to deal w/ them to improve speed, quality, lower costs of executions/
functions & to connect to customers & suppliers
✔✔Software Chain Management (SCM) - ✔✔Linking inbound/ outbound logistics w/
operation
✔✔Customer relationship management (CRM) - ✔✔Automate sales & Marketing
✔✔Enterprise Resource Planning ERP - ✔✔Software implemented in modules to
automate the entire value chain
✔✔Supply Chain: - ✔✔Flow of materials, information and services from raw material
suppliers through factories & warehouses to the end customers
✔✔Network of organizations & processes for: - ✔✔-Procuring raw materials
-Transforming them into products
-Distributing the products
✔✔What are the 3 distinct groups in the supply chain? - ✔✔1. Upstream: firm's
suppliers' suppliers, processes for managing relations w/ them
2.Downstream supply chain: organizations & processes responsible for delivering
products to customers
3. Internal: employees that transform materials, components, and services into actual
components
✔✔Inefficiencies in SC (supply chain) increases a company's operating costs: - ✔✔Can
waste up to 25% of operating expenses
✔✔Just-In-Time strategy: - ✔✔Comments arrive as they are needed
Finished goods shipped after leaving assembly line (no warehousing)
✔✔Safety Stock - ✔✔To cope w/ uncertainties (changing demands or defective parts/
raw materials)
Buffer for lack of flexibility in supply chain
✔✔Bullwhip effect: - ✔✔Information about product demand gets distorted as it passes
from one entity to next across supply chain
-slight rise in demand for an item (small change) leads to excessive inventory,
production, warehousing "just in case"
ANSWERS GRADED A+
✔✔Being aware of major sources of competitive advantages can help managers: -
✔✔Recognize an organization opportunities & vulnerabilities
Brainstorm winning strategies
✔✔Firms w/ an effective strategic position can create assets that reinforce one another:
- ✔✔Creates advantages that are difficult for rivals to successfully challenge
✔✔Value Chain: - ✔✔Set of activities through which a product or service is created &
delivered to customers
*example) elements in in FreshDirect's value chain work together to create and
reinforce competitive advantages that others cannot easily copy
✔✔Imitation-resisted value chains - ✔✔Way of doing business that competitors struggle
to replicate and that involves technology in a key enabling role
✔✔Straddling - ✔✔Attempts to occupy more than one position, while failing to match
the benefits of a more efficient, singularly focused rival.
✔✔Imitation —resistant value chains- - ✔✔Incumbents would be straddles b/t two
business models, unable to reap full advantages of either
✔✔How does an organization create value? - ✔✔Value is the amount of money that a
customer is willing to pay - Value is at the heart of every business
✔✔Understanding the ways your company creates value: - ✔✔CRITICAL to stay
competitive
✔✔Porter identifies a chain of activities common to all business & divided into 2 groups:
- ✔✔1. Primary activities (5 generic categories)
2. Support activities (4 generic categories)
✔✔What are the 5 primary activities in Porters Value Chain model? - ✔✔1. Inbound
logistics
2. Operations / manufacturing
3. Outbound logistics
4. Sales & marketing
5. Customer service
✔✔What are the 4 support activities in Porters Value Chain Model? - ✔✔1. Firm
infrastructure
2. HRM
, 3. Technology Development
4. Procurement
✔✔A firms value chain reveals ______ in business processes - ✔✔Weaknesses
*IS can be applied to deal w/ them to improve speed, quality, lower costs of executions/
functions & to connect to customers & suppliers
✔✔Software Chain Management (SCM) - ✔✔Linking inbound/ outbound logistics w/
operation
✔✔Customer relationship management (CRM) - ✔✔Automate sales & Marketing
✔✔Enterprise Resource Planning ERP - ✔✔Software implemented in modules to
automate the entire value chain
✔✔Supply Chain: - ✔✔Flow of materials, information and services from raw material
suppliers through factories & warehouses to the end customers
✔✔Network of organizations & processes for: - ✔✔-Procuring raw materials
-Transforming them into products
-Distributing the products
✔✔What are the 3 distinct groups in the supply chain? - ✔✔1. Upstream: firm's
suppliers' suppliers, processes for managing relations w/ them
2.Downstream supply chain: organizations & processes responsible for delivering
products to customers
3. Internal: employees that transform materials, components, and services into actual
components
✔✔Inefficiencies in SC (supply chain) increases a company's operating costs: - ✔✔Can
waste up to 25% of operating expenses
✔✔Just-In-Time strategy: - ✔✔Comments arrive as they are needed
Finished goods shipped after leaving assembly line (no warehousing)
✔✔Safety Stock - ✔✔To cope w/ uncertainties (changing demands or defective parts/
raw materials)
Buffer for lack of flexibility in supply chain
✔✔Bullwhip effect: - ✔✔Information about product demand gets distorted as it passes
from one entity to next across supply chain
-slight rise in demand for an item (small change) leads to excessive inventory,
production, warehousing "just in case"