Question details

All of the following are assumptions of the industrial organization (I/O) model
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GEORGIA STATE UNIVERSITY

J MACK ROBINSON COLLEGE OF BUSINESS

BUSA 4980 Strategic Management

Fall 2015

Practice Questions for Midterm Review

Instructor: Dr Elizabeth Lim

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Multiple Choice Questions

Answer ALL Questions

Strategic Management and Strategic Competitiveness

1.

A firm has achieved ____ when it successfully formulates and implements a value-

creating strategy.

a.

strategic competitiveness

b.

a temporary competitive advantage

c.

substantial returns

d.

legal and ethical core values

2.

All of the following are assumptions of the industrial organization (I/O) model

EXCEPT

a.

Organizational decision makers are rational and committed to acting in the firm's

best interests.

b.

Resources to implement strategies are firm-specific and attached to firms over the

long-term.

c.

The external environment is assumed to impose pressures and constraints that

determine the strategies that result in above-average returns.

d.

Firms in given industries, or given industry segments, are assumed to control

similar strategically relevant resources.

.

3.

All of the following are assumptions of the resource-based model EXCEPT

a.

Each firm is a unique collection of resources and capabilities.

b.

The industry’s structural characteristics have little impact on a firm’s performance

over time.

c.

Capabilities are highly mobile across firms.

d.

Differences in resources and capabilities are the basis of competitive advantage.

4. All of the following are resources of an organization EXCEPT

a.

an hourly production employee’s ability to catch subtle quality defects in products.

b.

oil drilling rights in a promising region.

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