MBA 705 LSUS MCLAUGHLIN EXAM 1 LATEST 2025 WITH
CORRECT QUESTIONS AND DETAILED
ANSWERS/ALREADY GRADED A+
Blockholders - CORRECT ANSWER-Large shareholders who monitor firm
strategies to ensure effective management.
business model - CORRECT ANSWER-The economic mechanism by which a
business hopes to sell its goods or services and generate a profit.
CEO duality - CORRECT ANSWER-A situation in which an individual holds both
the CEO and chair of the board title
competitive advantage - CORRECT ANSWER-A state whereby a business unit's
successful strategies cannot
be easily duplicated by its competitors.
comparative advantage - CORRECT ANSWER-The idea that certain products may
be produced more cheaply or at a higher quality in particular countries due to
advantages in labor costs or technology.
,Contingency Theory - CORRECT ANSWER-A view that states the most profitable
firms are likely to be the ones that develop the best fit with their environment.
Corporate Governance - CORRECT ANSWER-The board of directors, institutional
investors, and blockholders who monitor firm strategies to ensure managerial
responsiveness.
distinctive competence - CORRECT ANSWER-Unique resources, skills, and
capabilities that enable a firm to
distinguish itself from its competitors and create competitive advantage.
hedge fund - CORRECT ANSWER-An investment fund open to only a small
number of investors but permitted by regulators to undertake riskier and more
speculative investments
Industrial Organization (IO): - CORRECT ANSWER-A view based in microeconomic
theory that states firm
profitability is most closely associated with industry structure.
Intended Strategy: - CORRECT ANSWER-The original strategy top management
plans and intends to implement.
mission - CORRECT ANSWER-The reason for an organization's existence. The
mission statement is a broadly defined but enduring statement of purpose that
, identifies the scope of an organization's operations and its offerings to affected
groups (i.e., stakeholders, as defined later in the book).
Realized Strategy - CORRECT ANSWER-the strategy that actually takes place
Resource-Based Theory - CORRECT ANSWER-The perspective that views
performance primarily as a function of a firm's ability to utilize its resources.
Sarbanes-Oxley Act of 2002 - CORRECT ANSWER-created more detailed reporting
requirements for boards and executives in public U.S. companies and accounting
firms
Strategic Management - CORRECT ANSWER-The continuous process of
determining the mission and goals of an organization within the context of its
external environment and its internal strengths and weaknesses, formulating
and implementing strategies, and exerting strategic control to ensure that the
organization's strategies are successful in attaining its goals.
strategy - CORRECT ANSWER-a plan of action
sustained competitive advantage - CORRECT ANSWER-A firm's ability to enjoy
strategic benefits over an extended period of time.
top management team - CORRECT ANSWER-A team of top-level executives—
headed by the CEO—all of
CORRECT QUESTIONS AND DETAILED
ANSWERS/ALREADY GRADED A+
Blockholders - CORRECT ANSWER-Large shareholders who monitor firm
strategies to ensure effective management.
business model - CORRECT ANSWER-The economic mechanism by which a
business hopes to sell its goods or services and generate a profit.
CEO duality - CORRECT ANSWER-A situation in which an individual holds both
the CEO and chair of the board title
competitive advantage - CORRECT ANSWER-A state whereby a business unit's
successful strategies cannot
be easily duplicated by its competitors.
comparative advantage - CORRECT ANSWER-The idea that certain products may
be produced more cheaply or at a higher quality in particular countries due to
advantages in labor costs or technology.
,Contingency Theory - CORRECT ANSWER-A view that states the most profitable
firms are likely to be the ones that develop the best fit with their environment.
Corporate Governance - CORRECT ANSWER-The board of directors, institutional
investors, and blockholders who monitor firm strategies to ensure managerial
responsiveness.
distinctive competence - CORRECT ANSWER-Unique resources, skills, and
capabilities that enable a firm to
distinguish itself from its competitors and create competitive advantage.
hedge fund - CORRECT ANSWER-An investment fund open to only a small
number of investors but permitted by regulators to undertake riskier and more
speculative investments
Industrial Organization (IO): - CORRECT ANSWER-A view based in microeconomic
theory that states firm
profitability is most closely associated with industry structure.
Intended Strategy: - CORRECT ANSWER-The original strategy top management
plans and intends to implement.
mission - CORRECT ANSWER-The reason for an organization's existence. The
mission statement is a broadly defined but enduring statement of purpose that
, identifies the scope of an organization's operations and its offerings to affected
groups (i.e., stakeholders, as defined later in the book).
Realized Strategy - CORRECT ANSWER-the strategy that actually takes place
Resource-Based Theory - CORRECT ANSWER-The perspective that views
performance primarily as a function of a firm's ability to utilize its resources.
Sarbanes-Oxley Act of 2002 - CORRECT ANSWER-created more detailed reporting
requirements for boards and executives in public U.S. companies and accounting
firms
Strategic Management - CORRECT ANSWER-The continuous process of
determining the mission and goals of an organization within the context of its
external environment and its internal strengths and weaknesses, formulating
and implementing strategies, and exerting strategic control to ensure that the
organization's strategies are successful in attaining its goals.
strategy - CORRECT ANSWER-a plan of action
sustained competitive advantage - CORRECT ANSWER-A firm's ability to enjoy
strategic benefits over an extended period of time.
top management team - CORRECT ANSWER-A team of top-level executives—
headed by the CEO—all of
