BMGT 301 Exam 1 – questions well
answered to pass
Sustainable Competitive Advantage - correct answer ✔✔Financial performance that
consistently outperforms industry averages
Operational Effectiveness - correct answer ✔✔Performing the same tasks better than rivals
perform them.
Fast Follower Exists when: - correct answer ✔✔1. Savvy rivals watch a pioneer's efforts
2. Learn from their successes and missteps
3. Then enter the market quickly with a comparable or superior product at a lower cost 4.
Before the first mover can dominate.
Strategic Positioning - correct answer ✔✔Performing different tasks than rivals or the same
tasks in a different way.
Straddling - correct answer ✔✔When a firm attempts to match the benefits of a success
position while maintaining its existing position.
True sustainable advantage comes from assets and business models that are simultaneously
(Resource-based Theory): - correct answer ✔✔Valuable
Rare
Difficult to imitate
For which there are no substitutes.
, Powerful resources: - correct answer ✔✔1. Imitation-Resistant Value Chains: Others find hard
to replicate
2. Brand: Proxy for quality and inspires trust
3. Scale: Advantages related to size; economies of scale
4. Switching Costs and Data: Costs consumer incur by switching providers
5. Differentiation: Be different; move away from being commoditized
6. Network Effects: When the value of a product or service increases as its number of users
expands.
7. Distribution Channels: The path through which products or services get to customers
8. Patents.
Technology can play a key role in creating and reinforcing assets for sustainable advantage. This
includes: - correct answer ✔✔a. Enabling an imitation resistant value chain
b. Strengthening a firm's brand
c. Collecting useful data
d. Establishing switching costs
e. Creating a network effect
f. Creating or enhancing a firm's scale advantage
g. Enabling product or service differentiation
h. Offering an opportunity to leverage unique distribution channels.
Transaction Processing Systems (TPS) - correct answer ✔✔Transactions; daily events
Detailed reports; lists; summaries
Operations personnel; first-line supervisors
Management Information Systems (MIS) - correct answer ✔✔Summary transaction data; high-
volume data; simple models
answered to pass
Sustainable Competitive Advantage - correct answer ✔✔Financial performance that
consistently outperforms industry averages
Operational Effectiveness - correct answer ✔✔Performing the same tasks better than rivals
perform them.
Fast Follower Exists when: - correct answer ✔✔1. Savvy rivals watch a pioneer's efforts
2. Learn from their successes and missteps
3. Then enter the market quickly with a comparable or superior product at a lower cost 4.
Before the first mover can dominate.
Strategic Positioning - correct answer ✔✔Performing different tasks than rivals or the same
tasks in a different way.
Straddling - correct answer ✔✔When a firm attempts to match the benefits of a success
position while maintaining its existing position.
True sustainable advantage comes from assets and business models that are simultaneously
(Resource-based Theory): - correct answer ✔✔Valuable
Rare
Difficult to imitate
For which there are no substitutes.
, Powerful resources: - correct answer ✔✔1. Imitation-Resistant Value Chains: Others find hard
to replicate
2. Brand: Proxy for quality and inspires trust
3. Scale: Advantages related to size; economies of scale
4. Switching Costs and Data: Costs consumer incur by switching providers
5. Differentiation: Be different; move away from being commoditized
6. Network Effects: When the value of a product or service increases as its number of users
expands.
7. Distribution Channels: The path through which products or services get to customers
8. Patents.
Technology can play a key role in creating and reinforcing assets for sustainable advantage. This
includes: - correct answer ✔✔a. Enabling an imitation resistant value chain
b. Strengthening a firm's brand
c. Collecting useful data
d. Establishing switching costs
e. Creating a network effect
f. Creating or enhancing a firm's scale advantage
g. Enabling product or service differentiation
h. Offering an opportunity to leverage unique distribution channels.
Transaction Processing Systems (TPS) - correct answer ✔✔Transactions; daily events
Detailed reports; lists; summaries
Operations personnel; first-line supervisors
Management Information Systems (MIS) - correct answer ✔✔Summary transaction data; high-
volume data; simple models
