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Midterm review guide Fall 2013.doc

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Leanne Hagarty

BUSINESS 111 FALL 2013 MIDTERM REVIEW GUIDE TH Midterm Date: SATURDAY, OCTOBER 19 , 2013 Midterm Time: 4:30 P.M. TO 7:00 P.M. Writing Locations posted on course website. Important Notice: Anyone who is not able to write the exam on the scheduled date must provide documentation validating his/her absence, i.e. doctor’s note confirming illness and inability to write exam dated the day of the exam. Once documentation is received and approved by your professor, the value of your midterm will be added to your final exam. If valid documentation is not provided, the midterm mark will be a zero. 20 Multiple Choice questions 15 Short Answer questions, 2 to 6 marks each (80 marks total) TOPICS TO BE COVERED: The relationship between the firm and its external environment - Critical success factors: what they are, why they are important, how they connect to each other - Diamond-E model: key variables, connections among variables, principal logic, examples External analysis - what it is, how to conduct one, general vs. specific environments, benefits and challenges of conducting one - PEST factors: elements, impact on business, questions to answer from PEST analysis - Porter’s five forces model: explanation of each force’s impact on industry profitability, methods of reducing the impact of each force, strategic questions it answers, industry examples Entrepreneurship - what it is, what the key elements are, its significance - entrepreneurial process elements, influences, and connection with Diamond-E - components of opportunity recognition - how to screen and evaluate opportunities for viability and competitive advantage - high versus low potential ventures - how to access resources, bootstrapping, pros and cons of financing opti
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