BSG FINAL Questions/Answers
2025/2026Graded A+
A best practice - ✔✔✔- Is a method or technique employed by at least one enterprise and shown to be unusually
effective in lowering costs improving quality or performance, shortening time requirements, enhancing safe, or
achieving one or more other highly positive operating outcomes.
- A means of performing and activity or process that yields results consistently superior to other approaches
A blue ocean type of offensive strategy - ✔✔✔involves abandoning efforts to beat out competitors in existing
markets and, instead, inventing a new industry or distinctive market segment that renders and existing
competitors largely irrelevant and allows a company to create and capture altogether new demand.
A company's business model - ✔✔✔sets forth how its strategy and operating approaches will create value for
customers while at the same time generating revenues sufficient to cover costs and realize a profit.
A company's mission statement typically addresses which of the following questions? - ✔✔✔"who we are, what
we do, and why are we here"
A company's strategic vision concerns - ✔✔✔a company's long-term direction and what product-customer-market
business mix seems optimal for a the road ahead.
According to the school of ethical relativism - ✔✔✔there can be no single set of worldwide ethical standards
because what is deemed ethical or unethical depends on the religious beliefs, historic traditions and customs, core
values and beliefs, and behavioral norms that prevail in particular cultures and countries.
According to the school of ethical universalism - ✔✔✔the most fundamental concepts of what is right and what is
wrong are universal and transcend most all cultures, societies, and religions-- hence, common ethical standards
can be used to judge the conduct of all members of society, including all personnel at all companies worldwide
Barriers to entry - ✔✔✔- Strong brand preferences and high degrees of customer loyalty to existing brands
- Tariffs and other international trade restrictions
- The difficulties of building a network of distributors or retailers and securing adequate space on retailers' shelvers
- The cost advantages enjoyed by industry members due to such factors as scale economies, learning-based cost
savings, partnerships with the best suppliers ownership of key patents, and cost savings associated with having
valuable patents or proprietary technology
2025/2026Graded A+
A best practice - ✔✔✔- Is a method or technique employed by at least one enterprise and shown to be unusually
effective in lowering costs improving quality or performance, shortening time requirements, enhancing safe, or
achieving one or more other highly positive operating outcomes.
- A means of performing and activity or process that yields results consistently superior to other approaches
A blue ocean type of offensive strategy - ✔✔✔involves abandoning efforts to beat out competitors in existing
markets and, instead, inventing a new industry or distinctive market segment that renders and existing
competitors largely irrelevant and allows a company to create and capture altogether new demand.
A company's business model - ✔✔✔sets forth how its strategy and operating approaches will create value for
customers while at the same time generating revenues sufficient to cover costs and realize a profit.
A company's mission statement typically addresses which of the following questions? - ✔✔✔"who we are, what
we do, and why are we here"
A company's strategic vision concerns - ✔✔✔a company's long-term direction and what product-customer-market
business mix seems optimal for a the road ahead.
According to the school of ethical relativism - ✔✔✔there can be no single set of worldwide ethical standards
because what is deemed ethical or unethical depends on the religious beliefs, historic traditions and customs, core
values and beliefs, and behavioral norms that prevail in particular cultures and countries.
According to the school of ethical universalism - ✔✔✔the most fundamental concepts of what is right and what is
wrong are universal and transcend most all cultures, societies, and religions-- hence, common ethical standards
can be used to judge the conduct of all members of society, including all personnel at all companies worldwide
Barriers to entry - ✔✔✔- Strong brand preferences and high degrees of customer loyalty to existing brands
- Tariffs and other international trade restrictions
- The difficulties of building a network of distributors or retailers and securing adequate space on retailers' shelvers
- The cost advantages enjoyed by industry members due to such factors as scale economies, learning-based cost
savings, partnerships with the best suppliers ownership of key patents, and cost savings associated with having
valuable patents or proprietary technology
