MBA 705 LSUS Mclaughlin Exam 1 NEWEST VERSION 2025/2026
ACTUAL QUESTION AND CORRECT DETAILED VERIFIED
ANSWERS FROM VERIFIED SOURCES RATED A GRADE.
Strategies are formulated in the strategic management stage that
occurs immediately after __________.
A. the assessment of internal strengths and weaknesses
B. implementation of the strategy
C. control of the strategy
D. none of the above - ANSWER-A
Strategies are formulated after the internal assessment but
before implementation and
The strategy originally planned by top management is called
__________.
A. grand strategy
B. realized strategy
C. emergent strategy
D. none of the above - ANSWER-D
The strategy originally planned by top management is called the
intended strategy.
exchange rate - ANSWER-the value of a nation's currency in
terms of the currency of another nation or economic zone.
,Ecological influences - ANSWER-are part of the economic
environment because they can alter cost structures in entire
industries.
The notion that successful firms tend to be the ones that adapt
to influences in their industries is based on __________.
A. IO theory
B. resource-based theory
C. contingency theory
D. none of the above - ANSWER-A
Ecological forces - ANSWER-are often intertwined with political-
legal forces because governments frequently attempt to manage
economic development or address ecological concerns with
regulations.
Key Economic Considerations #1 - ANSWER-When the dollar
declines in value, U.S. exports become less expensive but U.S.
imports become more expensive, at least in the short run.
Key Economic Considerations #2 - ANSWER-A good economy is
not good for all industries. Pawn shops and discount stores
often thrive during recessions.
, The need for adapting to industry influences is based on IO
theory.
The notion of distinctive competence is consistent with
__________.
A. IO theory
B. resource-based theory
C. contingency theory
D. none of the above - ANSWER-B
According to resource-based theory, firms succeed primarily
because they develop distinctive competencies.
In order to contribute to sustained competitive advantage, firm
resources should be __________.
A. valuable and rare
B. not subject to perfect imitation
C. without strategically relevant resources
D. all of the above - ANSWER-D
If resources are to be used for sustained competitive
advantage—a firm's ability to enjoy strategic benefits over an
extended period of time—those resources must be valuable,
rare, not subject to perfect imitation, and without strategically
relevant substitutes.
ACTUAL QUESTION AND CORRECT DETAILED VERIFIED
ANSWERS FROM VERIFIED SOURCES RATED A GRADE.
Strategies are formulated in the strategic management stage that
occurs immediately after __________.
A. the assessment of internal strengths and weaknesses
B. implementation of the strategy
C. control of the strategy
D. none of the above - ANSWER-A
Strategies are formulated after the internal assessment but
before implementation and
The strategy originally planned by top management is called
__________.
A. grand strategy
B. realized strategy
C. emergent strategy
D. none of the above - ANSWER-D
The strategy originally planned by top management is called the
intended strategy.
exchange rate - ANSWER-the value of a nation's currency in
terms of the currency of another nation or economic zone.
,Ecological influences - ANSWER-are part of the economic
environment because they can alter cost structures in entire
industries.
The notion that successful firms tend to be the ones that adapt
to influences in their industries is based on __________.
A. IO theory
B. resource-based theory
C. contingency theory
D. none of the above - ANSWER-A
Ecological forces - ANSWER-are often intertwined with political-
legal forces because governments frequently attempt to manage
economic development or address ecological concerns with
regulations.
Key Economic Considerations #1 - ANSWER-When the dollar
declines in value, U.S. exports become less expensive but U.S.
imports become more expensive, at least in the short run.
Key Economic Considerations #2 - ANSWER-A good economy is
not good for all industries. Pawn shops and discount stores
often thrive during recessions.
, The need for adapting to industry influences is based on IO
theory.
The notion of distinctive competence is consistent with
__________.
A. IO theory
B. resource-based theory
C. contingency theory
D. none of the above - ANSWER-B
According to resource-based theory, firms succeed primarily
because they develop distinctive competencies.
In order to contribute to sustained competitive advantage, firm
resources should be __________.
A. valuable and rare
B. not subject to perfect imitation
C. without strategically relevant resources
D. all of the above - ANSWER-D
If resources are to be used for sustained competitive
advantage—a firm's ability to enjoy strategic benefits over an
extended period of time—those resources must be valuable,
rare, not subject to perfect imitation, and without strategically
relevant substitutes.
