Webster University
Fall 1, 2016 (Belvoir)
Name: ______________________
Due September 10, 2016
BUSN 6200
Mid Term Exam
There are 25 questions below, organized into 6 chapters. Please answer 6 questions,
and ensure you answer 1 from each chapter. Respond as thoroughly as you can,
providing examples where appropriate and incorporating all previous graduate-level
academic work in your responses. In your reply, delete the questions you are not
responding to.
1.
Chapter 1
Define strategic competitiveness and above-average returns. What is the
relationship between strategic competitiveness and returns on investment?
2.
Hypercompetition is a characteristic of the current competitive landscape. Define
hypercompetition and identify its primary drivers. How can organizations survive
in a hypercompetitive environment?
3.
Describe the industrial organization (I/O) model of above-average returns. What
are its main assumptions? What is the key to success according to the I/O model?
4.
Describe and discuss the resource-based model of above-average returns.
1.
Chapter 2
Explain why it is important for organizations to analyze and understand the
external environment.
2.
Identify and describe the three major parts of the external environment. What is the
purpose of the firm’s collecting information about these aspects of its
environment?
3.
Describe and discuss the four activities of the external environmental analysis
process.
4.
Describe the seven segments of the general environment.
5.
Identify the five forces that underlie the five forces model of competition. Explain
briefly how they affect industry profit potential.
1.
Chapter 3
Describe the importance of internal analysis to the strategic success of the firm.
2.
What are the differences between tangible and intangible resources? Which
category of resources is more valuable to the firm?
3.
Define capabilities and how they affect the firm’s strategic success.
4.
Describe the four specific criteria that managers can use to decide which of their
firm’s capabilities have the potential to create a sustainable competitive advantage.
5.
Describe a value chain analysis. How does a value chain analysis help a firm gain
competitive advantage?
1.
Chapter 4
Define strategy and business-level strategy. What is the difference between these
two concepts?
2.
When a firm chooses a business-level strategy, it must answer the questions “Who?
What? and How?” What are these questions and why are they important?
3.
Discuss how a cost leadership strategy can allow a firm to earn above-average
returns in spite of strong competitive forces. Address each of the five competitive
forces.
4.
Describe the risks of a differentiation strategy.
1.
Chapter 5
Define competitors, competitive rivalry, competitive behavior, and competitive
dynamics.
2.
What is market commonality? What is resource similarity? How are these
concepts combined to identify the level of competition between two firms?
3.
Define awareness, motivation and ability in reference to competitive behavior.
1.
Chapter 6
Differentiate between corporate-level and business-level strategies and give
examples of each.
2.
What are the five categories of businesses based on level of diversification?
3.
Describe the primary reasons a firm pursues increased diversification.
4.
Describe how diversified firms can use activity sharing and transfer of core
competencies to create value.
DUE September 10, 2016
