Question 1

A programmed decision involves _____.

Group of answer choices

a simple, common, and frequently occurring problem with a predetermined solution

less threatening options

collaboration with external stakeholders

complex and unique variables

Question 2

Anything that a firm does better than rival firms is referred to as a(n) _____.

Group of answer choices

Comparative advantage

Competitive advantage

Opportunity

Threat

Question 3

The desired approach to decision making includes _________.

Group of answer choices

asking other people for help

conducting research

reframing the problem

systematic, step-by-step processes

Question 4

The first step in the strategy creation process is to _____.

Group of answer choices

clarify the mission

identify the future potential for the organization

set goals

develop a flow chart of steps

Question 5

Which of these is a determinant of entry, according to Porter?

Group of answer choices

Presence of substitute input

Ability to backward integrate

Exit barriers

Economies of scale