1 Define Business Strategy. How is “Strategy” different from “Tactics”?

2 From a strategy perspective, what are above-average returns?

• Returns that are higher than the industry average.
• Returns that are higher than the average performance of the firm.
• Returns that are greater than investments of similar risk.
• Returns that are greater than the national average.

3 Which of these frameworks will be used to study firm success this semester?

• Open Source Collective Model
• Industrial Organizational Model
• Power and Influence Model
• Social Network Relational Model

4 The translation of strategy to action takes place in

• The Industrial Organization Model
• The firm’s Business Model
• The Bottom of the Pyramid model
• The Digital Natives model

5 Which of these is not a dimension of the external environment under study this semester.

• Political
• Sociocultural
• Psychological
• Technological
• Global

6 Select all five forces of competition that are essential to an analysis of the external industry environment.（This question is multiple-choice questions）

• Bargaining Power of Buyers
• Bargaining Power of Suppliers
• Bargaining Power of Politicians
• Threat of Substitutes
• Threat of New Entrants
• Threat of Economic Inflation
• Threat of Rivals
• Threat of Regulators