Instructions:

• Answer all questions in both sections (All questions carry equal points)
• Carefully read all the questions and select the most appropriate options.

1. All of these are indicators of firm performance except _______________
   1. Increases in revenues
   2. Increases in market share
   3. Decreases in market share
   4. Increases in the number of stakeholders.
2. What is strategy ______________
   1. A set of goal-directed actions that firms take to gain and sustain superior performance relative to their competitors.
   2. Performing better than competitors.
   3. Copying competitors but doing it better.
   4. All actions involved in the day-to-day management of a business.
3. Competitive parity is achieved when _________________?
   1. Firm As market capitalization is greater than firm Bs market capitalization.
   2. Firm As stock price is less than firm Bs stock price
   3. Firm A and B have reported the same profits.
   4. Firm Bs profit is more than firm Cs profits
4. All of these are external stakeholders to FAU except ______________
   1. News agencies in Florida
   2. Suppliers
   3. Students
   4. Professors
5. At what level of the business will FAU formulate its strategy on how to compete against FSU?
   1. Corporate level
   2. Business level
   3. Functional level
   4. Governors office
6. Product-oriented vision statements are always better than customer-oriented vision statements in dynamic market_________
   1. True
   2. False
7. Core competencies refers to ____________
   1. Organizational and managerial skills
   2. Any assets that a firm can draw on when formulating and implementing a strategy
   3. The internal activities a firm engages in when transforming inputs to outputs.
   4. Unique strengths, embedded within a firm, that are critical to achieving and sustaining competitive advantage.
8. The VRIO framework is more effective in America than in other parts of the world.
   1. True
   2. Flue
9. According to the resource-based view, firms with the right structure can achieve and sustain competitive advantage when they have a unique bundle of immobile and inimitable resources
   1. True
   2. False
10. All of these are examples of intangible resources for FAU except_____________
    1. Offices
    2. Culture
    3. Reputation
    4. Teaching secrets