Automatic Zoom Actual Size Page Fit Page Width 50% 75% 100% 125% 150% 200% 300% 400%
GEORGIA STATE UNIVERSITY
J MACK ROBINSON COLLEGE OF BUSINESS
BUSA 4980 Strategic Management
Practice Questions for Midterm Review
Instructor: Dr Elizabeth Lim
Multiple Choice Questions
Answer ALL Questions
Strategic Management and Strategic Competitiveness
A firm has achieved ____ when it successfully formulates and implements a value-
a temporary competitive advantage
legal and ethical core values
All of the following are assumptions of the industrial organization (I/O) model
Organizational decision makers are rational and committed to acting in the firm's
Resources to implement strategies are firm-specific and attached to firms over the
The external environment is assumed to impose pressures and constraints that
determine the strategies that result in above-average returns.
Firms in given industries, or given industry segments, are assumed to control
similar strategically relevant resources.
All of the following are assumptions of the resource-based model EXCEPT
Each firm is a unique collection of resources and capabilities.
The industry’s structural characteristics have little impact on a firm’s performance
Capabilities are highly mobile across firms.
Differences in resources and capabilities are the basis of competitive advantage.
4. All of the following are resources of an organization EXCEPT
an hourly production employee’s ability to catch subtle quality defects in products.
oil drilling rights in a promising region.