•	Question 1
3 out of 3 points
	
	The basic principle of __________ is that incremental production costs decline at a constant rate as production experience is gained.			
	
Learning curve			
•	Question 2
3 out of 3 points
	
	Which of the following is not one of Porter's five forces?

Risk of exist			
	
			
•	Question 3
0 out of 3 points
	
	Acting with integrity, promoting sustainability, protecting the environment, are examples of ____________.			
	
			
•	Question 4
3 out of 3 points
	
	Your firm has moved down the learning curve and is now producing a very high volume of goods, so high in fact that your purchasing department has been complaining about the high supply prices for raw materials that they have been paying because of the need to buy from the industry's largest supplier.  It is now obvious that your firm _______________.			
	
			
•	Question 5
3 out of 3 points
	
	_________ are specific performance targets in each of the areas covered by a firm's mission.			
	
Objective			
•	Question 6
3 out of 3 points
	
	Aside from having a very intimidating top management that collectively does not want to hear bad news, the organization's ________________ can contribute to poor ethical behavior among its employees.			
	
			
•	Question 7
0 out of 3 points
	
	The least costly basis of product differentation to duplicate _______.

Product features			
	
			
•	Question 8
3 out of 3 points
	
	Porsche is an example of a company that pursues _________.
Horizontal Integration
			
	
			
•	Question 9
3 out of 3 points
	
	The most important characteristic of a firm's resources and capabilities, in terms of sustaining competitive advantage is ________.

http://www.quickmba.com/strategy/competitive-advantage/			
	
			
•	Question 10
3 out of 3 points
	
	Which of the following is a characteristic of a successful environmental scanning (ES) system?			
	
			
•	Question 11
3 out of 3 points
	
	Which of the following would be considered an intangible resource?
An intangible asset is an asset that lacks a physical substance. 
How it works/Example:
For example, goodwill, patents, trademarks and copyrights are intangible assets. None of these assets can be physically touched, but they can still have value. 
The line item for intangible assets is found on the balance sheet. Though goodwill is considered an intangible asset, it's often listed as a separate line item. 
[InvestingAnswers Feature: Financial Statements for Beginners -- The Balance Sheet]
Why it Matters:
Intangible assets can be a significant percentage of a company's total assets, and therefore have a big impact on a firm's book value. In most cases, an analyst calculating book value will only include those intangible assets that can be separated from the company and sold. Goodwill cannot be separated from the company, so it is generally not included in book value calculations. But a valuable patent can be sold, and would be included in book value. 
To learn more, click here to see A Simple Method for Calculating Book Value. 
			
	
			
•	Question 12
0 out of 3 points
	
	______ is considered a vehicle in the Business Strategy Diamond.
Franchising
C) Acquisitions
D) Joint ventures
			
	
			
•	Question 13
0 out of 3 points
	
	Which of the following is a nonfinancial performance metric?			
	
			
•	Question 14
0 out of 3 points
	
	Having embedded innovation processes that result in an unique culture creates causal ambiguity that is difficult to imitate because it is ______.			
	
			
•	Question 15
3 out of 3 points
	
	Drivers of a low cost strategy can include which of the following?			
	
			
•	Question 16
0 out of 3 points
	
	The total of primary and support activities by which a firm produces, distributes, and markets a product is best known as ____________.			
	
			
•	Question 17
0 out of 3 points
	
	Learning and creating strategies based on everyday observation throughout the lower-levels of the organization is consistent with the notion of _____.			
	
			
•	Question 18
3 out of 3 points
	
	With respect to the mobile phone industry, if Apple were to acquire Samsung this would __________________.			
	
			
•	Question 19
0 out of 3 points
	
	Which of the following statements is correct?			
	
			
•	Question 20
0 out of 3 points
	
	When considering the VRINE model you could conclude that _______.			
	
			
•	Question 21
3 out of 3 points
	
	The minimum scale needed to achieve maximum cost savings is also known as __________.			
	
			
•	Question 22
0 out of 3 points
	
	From the perspective of the United States Government, the rise of organizations such as ISIS in the Middle East represents _____________,			
	
			
•	Question 23
0 out of 3 points
	
	All of the following except ________ are considered first-mover advantages.			
	
			
•	Question 24
0 out of 3 points
	
	The ___________perspective on competitive advantage enhances our understanding on why it is difficult to sustain an advantage over rivals.			
	
			
•	Question 25
3 out of 3 points
	
	An application of ___________  to ___________ might result in the following conclusions: (1) High-quality inputs: valuable, not rare; (2) Consistency of product, quality of product, flexibility of manufacturing: valuable, not rare; (3) Speed and competence in maintaining customers' canning lines, quality of technical advice: valuable, rare, costly to imitate.			
	
			
•	Question 26
3 out of 3 points
	
	Shortcomings of the strategic managment process might include ______.			
	
			
•	Question 27
0 out of 3 points
	
	Which of the following sources of cost advantage is the least costly to duplicate?			
	
			
•	Question 28
3 out of 3 points
	
	A firm that undertakes backward vertical integration and develops second sources is pursuing opportunities associated with neutralizing the threat of ________.			
	
			
•	Question 29
3 out of 3 points
	
	All of the following except _______ are appropriate characteristics for organizing to implement product differentiation.			
	
			
•	Question 30
0 out of 3 points
	
	Which of the following pressures does not favor industry globalization?			
	
			
•	Question 31
0 out of 3 points
	
	Which of the following lowers the threat of rivalry in the industry?			
	
			
•	Question 32
0 out of 3 points
	
	Investment, past success, interconnectedness of resources, time-compression diseconomies, causal ambiguity and invisible assets are important factors in determining ________.			
	
			
•	Question 33
3 out of 3 points
	
	Which of the following is true concerning intended and realized strategies?			
	
			
•	Question 34
3 out of 3 points
	
	During the fall 2014 football season, the University of Michigan Head Football Coach allowed a quarterback, whom had just experienced a concussion, to reenter the game.  The public outcry from this incident resulted in forcing the Head Coach to fulfill his leadership role as __________.			
	
			
•	Question 35
3 out of 3 points
	
	Top management was interested in assessing the value of the knowledge, skills, and abilities of its employees but wanted to include a valuation of the processes within the company that facilitated teamwork and cooperation across departments and divisions.  Which of the following types of capital does top management need to assess?			
	
			
•	Question 36
0 out of 3 points
	
	The PESTEL model is most commonly used to analyze the ____________.			
	
			
•	Question 37
3 out of 3 points
	
	Which of the following are key evaluation criteria for testing the quality of your strategy?			
	
			
•	Question 38
3 out of 3 points
	
	Lowering the price of your products below all of your competitors is ____________.			
	
			
•	Question 39
3 out of 3 points
	
	Sources of cost advantages include which of the following?			
	
			
•	Question 40
3 out of 3 points
	
	Which of the following is a major limitation of the SWOT framework?			
	
			
•	Question 41
3 out of 3 points
	
	Which of the following is NOT one of the three overarching themes in strategic management?			
	
			
•	Question 42
3 out of 3 points
	
	An enabling organizational culture that encourages teamwork is an example of _________.			
	
			
•	Question 43
0 out of 3 points
	
	________ is a measure of anticipated firm performance.			
	
			
•	Question 44
0 out of 3 points
	
	Which of the following characteristics of Toyota's value chain is most likely to lead to a sustained competitive advantage?			
	
			
•	Question 45
0 out of 3 points
	
	A good strategy will utilize _______, neutralize ________, exploit _______, avoid _________.			
	
			
•	Question 46
0 out of 3 points
	
	Strategic management _________________.			
	
			
•	Question 47
3 out of 3 points
	
	Under Armour's addition of products such as AllSeason Gear, HeatGear, and ColdGear is an example of ________.			
	
			
•	Question 48
3 out of 3 points
	
	Which of the following is a limitation of accounting measures of firm performance?			
	
			
•	Question 49
0 out of 3 points
	
	A firm's theory of how to compete successfully should focus on _______.			
	
			
•	Question 50
0 out of 3 points
	
	In order to be price competitive within Industry Z, competitors had to move down a learning curve, achieve a minimum efficient scale that required tremendously high investment in physical plant and obtain the rights to rare and valuable raw materials.  Which of the following of Porter's 5-Forces appears to be weak?			
	
			
•	Question 51
0 out of 3 points
	
	The total of primary and support value-adding activities by which a firm produces, distributes, and markets a product is known as ______.			
	
			
•	Question 52
0 out of 3 points
	
	Which of the following measures would be the least appropriate to use in comparing the performance of two firms that differed substantially in terms of number of employees?			
	
			
•	Question 53
0 out of 3 points
	
	Which of the following is not true about strategy and/or strategic management?			
	
			
•	Question 54
3 out of 3 points
	
	Which of the following is true regarding cost leadership?			
	
			
•	Question 55
0 out of 3 points
	
	_________ are companies that provide products and services that can be used together rather than providing competing products and services.			
	
			
•	Question 56
0 out of 3 points
	
	Please consider the following pairs of manufacturing costs and revenues: $10,000<$12,000; $5,000<$11,000; $9,000<$13,000; $11,000<$17,000; $8,000<$14,000.  Which of the following lists of strategies follows the same sequence?			
	
			
•	Question 57
3 out of 3 points
	
	Holding a conviction that one's own national, group, or cultural characteristics are "normal" is referred to as _________.			
	
			
•	Question 58
0 out of 3 points
	
	A set of firms that face similar threats and opportunities that are different from the threats and opportunities facing other firms in an industry are referred to as _________.			
	
			
•	Question 59
3 out of 3 points
	
	"Do a firm's resources and capabilities enable the firm to respond to environmental threats or oppotunities?"  Is an example of a question of _____.			
	
			
•	Question 60
0 out of 3 points
	
	Realized strategy is best described as a combination of _____ strategies.			
	
			
•	Question 61
3 out of 3 points
	
	If your firm possesses brand identification and customer loyalty, this is considered a barrier to entry in terms of _______.			
	
			
•	Question 62
3 out of 3 points
	
	Using the SWOT analysis, which of the following focus on the firm's internal resources?			
	
			
•	Question 63
0 out of 3 points
	
	The primary objective of top management is to ___________.			
	
			
•	Question 64
0 out of 3 points
	
	Which of the following is NOT a pressure favoring industry globalization?			
	
			
•	Question 65
0 out of 3 points
	
	Being "stuck in the middle" means _________.			
	
			
•	Question 66
3 out of 3 points
	
	__________ occurs when the average total cost increases at higher levels of input.			
	
			
•	Question 67
0 out of 3 points
	
	A firm, operating under conditions of perfect competition, that generates just enough value with its resources to fully compensate the owners of all those resources, including a risk-adjusted rate of return for suppliers of capital, is likely to be experiencing _______.