MQM 385 Actual Questions and Correct Answers
Q1
Stakeholders
Answer: people who are affected by a firm's performance and who have claims on its
performance.
Q2
Capital Market Stakeholders
Answer: Shareholders major suppliers of capital (banks)
Q3
Product market stakeholders
Answer: primary customers suppliers Host communities Unions
Q4
Organizational Stakeholders
Answer: Employees Managers Non managers
Q5
Industrial organization model
Answer: focuses on the environment outside the firm. Resources are similar and
transfer within industry.
Q6
Resource-based model
Answer: focuses on the inside of the firm. Resources are unique and difficult to
imitate.
Q7
Operational efficiency
Answer: doing the same thing as competition but done better.
, Q8
Strategy
Answer: doing things a little differently
Q9
What are Porter's 5 Forces?
Answer: Threat of new entrants, bargaining power of buyers, bargaining power of
supplies, threat of substitute products, rivalry among existing competitors
Q10
VRIN and how it relates to temporary competitive advantage
Answer: Value, Rare, costly to Imitate, Nonsubstitutable. Works like a funnel, those
activities that are all of the above give you a competitive advantage
Q11
PRIMARY VALUE CHAIN ACTIVITIES:
Answer: activities the firm completes in order to produce products and then sell,
distribute, and service those products in ways that create value for customers
Q12
SUPPORT FUNCTIONS
Answer: activities the firm completes in order to support the work being done to
produce, sell, distribute, and service the products the firm is producing
Q13
Sustainable advantage
Answer: above average returns using valuable, rare, costly-to-imitate, and
Q14
Temporary advantage
Answer: average to above average returns
Q1
Stakeholders
Answer: people who are affected by a firm's performance and who have claims on its
performance.
Q2
Capital Market Stakeholders
Answer: Shareholders major suppliers of capital (banks)
Q3
Product market stakeholders
Answer: primary customers suppliers Host communities Unions
Q4
Organizational Stakeholders
Answer: Employees Managers Non managers
Q5
Industrial organization model
Answer: focuses on the environment outside the firm. Resources are similar and
transfer within industry.
Q6
Resource-based model
Answer: focuses on the inside of the firm. Resources are unique and difficult to
imitate.
Q7
Operational efficiency
Answer: doing the same thing as competition but done better.
, Q8
Strategy
Answer: doing things a little differently
Q9
What are Porter's 5 Forces?
Answer: Threat of new entrants, bargaining power of buyers, bargaining power of
supplies, threat of substitute products, rivalry among existing competitors
Q10
VRIN and how it relates to temporary competitive advantage
Answer: Value, Rare, costly to Imitate, Nonsubstitutable. Works like a funnel, those
activities that are all of the above give you a competitive advantage
Q11
PRIMARY VALUE CHAIN ACTIVITIES:
Answer: activities the firm completes in order to produce products and then sell,
distribute, and service those products in ways that create value for customers
Q12
SUPPORT FUNCTIONS
Answer: activities the firm completes in order to support the work being done to
produce, sell, distribute, and service the products the firm is producing
Q13
Sustainable advantage
Answer: above average returns using valuable, rare, costly-to-imitate, and
Q14
Temporary advantage
Answer: average to above average returns
