MBA Business Strategy

Question 1

What are Porter's Five Forces used to analyze?

Accepted Answer

The competitive intensity and attractiveness of an industry

Answer

A company's internal resource capabilities

Answer

The five steps in strategic planning

Answer

A company's financial performance metrics

Question 2

What is a 'competitive advantage'?

Accepted Answer

A unique attribute that allows a firm to outperform competitors and create superior value

Answer

Having the largest market share in an industry

Answer

Owning more patents than all competitors combined

Answer

Having the lowest cost structure in the market

Question 3

What does the BCG Growth-Share Matrix classify?

Accepted Answer

Business units or products by market growth rate and relative market share

Answer

Employees by performance rating

Answer

Competitors by size and profitability

Answer

Geographic markets by GDP growth potential

Question 4

What is 'corporate-level strategy' concerned with?

Accepted Answer

Decisions about which industries and businesses the corporation should compete in

Answer

How a single business unit competes in its market

Answer

Day-to-day operational management decisions

Answer

Setting prices for the firm's product lines

Question 5

What is 'strategic planning'?

Accepted Answer

The process of defining an organization's direction, goals, and actions to achieve long-term objectives

Answer

Scheduling daily operational tasks for employees

Answer

Creating a marketing campaign calendar

Answer

Managing the annual budget allocation process

Question 6

What does 'first-mover advantage' refer to?

Accepted Answer

The competitive benefits gained by being the first to enter a new market or launch a new product

Answer

The benefit of entering a market last with a superior product

Answer

The advantage of having the first-mover cost structure

Answer

The regulatory benefit given to pioneer companies