BMGT 301 FINAL KARAKE EXAM WITH
CORRECT ANSWERS
operational effectiveness - Correct Answers -refers to performing the same tasks better
than rivals perform them. Used for commodities so everyone is selling same product but
just trying to sell it/make it for cheaper.
fast followers - Correct Answers -when savvy rivals watch a pioneer's efforts, learn from
their successes and missteps, and then enter the market quickly with a comparable or
superior product at a lower cost.
strategic positioning - Correct Answers -refers to performing different activities from
those of rivals, or the same activities in a different way.
Fresh Direct - Correct Answers -which company is a good example of strategic
positioning by utilizing technology to create efficient model for delivering groceries in
NYC that no other company could imitate
web 2.0 - Correct Answers -fosters collaboration information sharing, as opposed to the
static, transaction-oriented Web 1.0 efforts.
wiki - Correct Answers -their key use is to collaborate on common tasks or to create a
common knowledge base. It's a website that can be modified by anyone, from directly
within a web browser, provided that user is granted edit access
social networks - Correct Answers -are an online community that allows users to
establish a personal profile and communicate with others
what is the most powerful feature of most social networks? - Correct Answers -feed
wisdom of the crowd - Correct Answers -is the idea that a group of individuals (the
crows) often consisting of untrained amateurs, will collectively have more insight than a
single or small group of trained professionals
competitive advantage - Correct Answers -is the ability of a firm to outperform its
competitors in financial measures, is measured in accounting profits or stock prices
sustainable competitive advantage - Correct Answers -is financial performance that
consistently outperforms their industry peers
CORRECT ANSWERS
operational effectiveness - Correct Answers -refers to performing the same tasks better
than rivals perform them. Used for commodities so everyone is selling same product but
just trying to sell it/make it for cheaper.
fast followers - Correct Answers -when savvy rivals watch a pioneer's efforts, learn from
their successes and missteps, and then enter the market quickly with a comparable or
superior product at a lower cost.
strategic positioning - Correct Answers -refers to performing different activities from
those of rivals, or the same activities in a different way.
Fresh Direct - Correct Answers -which company is a good example of strategic
positioning by utilizing technology to create efficient model for delivering groceries in
NYC that no other company could imitate
web 2.0 - Correct Answers -fosters collaboration information sharing, as opposed to the
static, transaction-oriented Web 1.0 efforts.
wiki - Correct Answers -their key use is to collaborate on common tasks or to create a
common knowledge base. It's a website that can be modified by anyone, from directly
within a web browser, provided that user is granted edit access
social networks - Correct Answers -are an online community that allows users to
establish a personal profile and communicate with others
what is the most powerful feature of most social networks? - Correct Answers -feed
wisdom of the crowd - Correct Answers -is the idea that a group of individuals (the
crows) often consisting of untrained amateurs, will collectively have more insight than a
single or small group of trained professionals
competitive advantage - Correct Answers -is the ability of a firm to outperform its
competitors in financial measures, is measured in accounting profits or stock prices
sustainable competitive advantage - Correct Answers -is financial performance that
consistently outperforms their industry peers
