Instead of Mid-term Jeopardy

Question 1

Analytical framework suggesting that firms with certain resources and capabilities will gain competitive advantage

Accepted Answer

VRINE framework, VRIO framework

Question 2

An individual, organization or group with an interest in firm’s ability to deliver intended results

Accepted Answer

Stakeholder

Question 3

A breakthrough (product- or process-related) technology that destroys the competencies of incumbent firms in an industry

Accepted Answer

Disruptive technology

Question 4

Strategic leaders are tasked with managing the overall enterprise and influencing key organizational outcomes

Accepted Answer

True

Question 5

Expansion into upstream or downstream industries is called ________.

Accepted Answer

Vertical integration

Question 6

A firm’s ability to create value in a way that its rivals cannot.

Accepted Answer

Competitive advantage

Question 7

Intended strategy is the same as emergent strategy.

Accepted Answer

False

Question 8

Capability which is central to a firm’s main business operations and which allow it to generate new products and service

Accepted Answer

Core competence

Question 9

Threat of NEW entrants is part of?

Accepted Answer

Porter’s 5 Forces

Question 10

Applying Porter’s 5 forces to AMAZON would indicate that the company is ______ powerful than its suppliers.

Accepted Answer

More

Question 11

Rational strategic decision making can be distorted by:

Accepted Answer

Cognitive biases and illusions

Question 12

Stakeholders can be prioritized based on their:

Accepted Answer

Both

Question 13

The perspectives explaining competitive advantage are:

Accepted Answer

Both

Question 14

resources and capabilities firms should be careful not to accumulate

Accepted Answer

Core rigidities

Question 15

Unethical employees will help boost firm’s performance

Accepted Answer

False

Question 16

Resources that are rooted deeply in the firm’s history, and are difficult for competitors to analyze and imitate

Accepted Answer

Intangible resources

Question 17

Barriers that impose a high cost on the abandonment of a market or product:

Accepted Answer

Exit barriers

Question 18

A statement of what a firm is and what it stands for – its fundamental values and purpose:

Accepted Answer

Mission statement

Question 19

I am ready for a Spring Break!

Accepted Answer

True

Question 20

Porter's 5 forces is a framework for analyzing and evaluating industry attractiveness.

Accepted Answer

True

Question 21

Framework for analyzing and evaluating the macro-environment:

Accepted Answer

PESTEL, SPENT, PESTE

Question 22

STRATEGY IS A CENTRAL, INTEGRATED, EXTERNALLY FOCUSED CONCEPT OF HOW THE FIRM WILL ACHIEVE ITS OBJECTIVES.

Accepted Answer

True

Question 23

VISION AND MISSION ARE A PART OF THE STRATEGIC MANAGEMENT PROCESS.

Accepted Answer

True

Question 24

Vision is a forward looking statement or understanding of what the firm will be in the future.

Accepted Answer

True

Question 25

Brand loyalty, economies of scale, switching costs, regulation, expected retaliation, are examples of:

Accepted Answer

Barriers of entry

Question 26

Porter’s 5 forces could be different for strategic groups operating in the same industry.

Accepted Answer

True

Question 27

To improve our sessions, we should use

Accepted Answer

Discord, Google Jamboard, Miro, Slack

Instead of Mid-term Jeopardy

Questions 27

Instead of Mid-term Jeopardy

Questions 27