BUSINESS 111 FALL 2021

MIDTERM REVIEW GUIDE

Midterm Date: Friday, October 8th, 7:00 P.M. TO 9:30 P.M. (Eastern Time)

Midterm will be written on MyLS using the lockdown browser and AI-
remote monitor unless you opted out, in which case you will be writing on
campus
If writing remotely you must write on a computer with a webcam.
It is your responsibility to make sure you have access to reliable internet,
can write in a quiet and private space and understand and execute the
environment check as per the instructions posted - Watch the video
demonstration to be confident you do it correctly or you risk forfeiting
your exam mark. The environment check video must be under 1 minute
and must show your table, behind your computer, all around you and your
lap. The mirror must clearly show your webcam, screen and keyboard.
Instructions and Respondus test are posted on MyLS.

Important Notice: There is no deferred midterm for BU 111. If a student misses the
midterm examination because of illness, or for some other unexpected major life event, such
as a death or a serious illness in their immediate family, the student must follow the
instructions outlined in the course syllabus.

Provided these instructions are followed, then the weight of the midterm will be transferred to
the final exam for a total value of 44 percent of the overall grade. The final exam may then
cover cumulative content, and the student must pass this final exam to receive a passing
grade in the course. In all other cases, the student will receive zero on the midterm
examination.

Expected Mark Allocation:

30 Multiple Choice questions, 1 mark each, 30 marks in total
7 Short Answer questions, 5 to 6 marks each, 40 marks in total
(70 marks total)

TOPICS COVERED:
Note that short answer questions may require you to combine insights across course topics.

The relationship between the firm and its external environment – 31 marks (10 multiple
choice + 21 marks short answer)

● Key Success Factors: what they are, why they are important, what actions you can take
to achieve them, how they connect to each other

● Key Performance Indicators for each KSF: what they are, what they measure, what can
affect them and what they can affect
● Diamond-E model: key components and what each one is made of, connections among
the variables, principal logic, and business examples

● Porter’s Generic Strategies model: the internal and external considerations that
distinguish the four strategies, what the strategies are and differences between them; how a
firm would choose between them based on its strengths or size, and questions to ask when
deciding

External analysis – 29 marks (10 multiple choice + 19 marks short answer)

● PEST Factors: description of each factor, elements of each factor, examples of elements,
impact on business of the factor, impact on business of changes in the element, impact on
other PEST factors, and questions to answer from PEST analysis

● Porter’s Five Forces model: explanation of each force’s impact on industry profitability,
factors of each force (description of each and explanation of the effect of the factor), methods
of reducing the impact of each force, strategic questions it answers, industry examples,
connections to Diamond-E variables

Citing sources and APA Formatting – 3 marks multiple choice

- this content is not covered in lecture. You must use the lab manual content listed
below to learn it

● objectives, rules, methodology, and application

Analytical Thinking – 7 marks multiple choice

● process - how do you move through the case analysis?

● components - describe the various components and explain what role each plays in a
good solution
● tools - what are the different tools, frameworks etc. that have been provided and how
do these aid you in a rigorous and complete solution?
● application - given a scenario, what tools might a student harness or how might they
apply the tools to understand the situation or work toward finding a solution

Relevant Readings/Materials

Pearson Resources that can be used to enhance understanding or fill in gaps in lecture
content. Content not discussed in lecture will not be tested
● Course introduction – Environmental analysis and key success factors
● Business Essentials – Chapter 2 (content relevant to material covered in lecture)
● Management Consulting - Sections 2.2-2.5, 3.3, 5.1, 5.2, 5.3, 6.1, 6.2, 9.6, 12.3

Lab Manual content that will be tested:

● Introduction to Writing and Using Sources
● How to Use Sources
● APA Documentation Style
● APA In-text Citation Format
● Introduction to the Case Method
Specific cases, slides and slidedoc design are not covered on the exam.

SUGGESTED STUDY APPROACH:

Study groups are always a beneficial aid in your learning. For each topic, identify questions
that may appear on the exam (use “Questions to Think About” in slides as a good start).

These questions can fall into three general categories:

1. Connection: What else does this topic link to and how?
2. Application: What kinds of questions or issues can you address with it?
3. Implication: Given a scenario/condition, what does this mean? Opportunity?
Threat? What must you do/what course of action would you recommend?

When answering short answer questions, be SPECIFIC AND EXPLICIT. Provide clear
and complete explanations for your thinking. Use the business vocabulary that has been
taught so that your answers are precise and complete. If you are asked why a condition or
criterion is important, consider what would happen if that condition or criterion was not met.

SUGGESTED WRITING APPROACH:

Label your answers and the subsections of your answers so that it is easy to see what portion
of the question you are answering.

Bullet points are acceptable and encouraged to show the individual points you are making but
don’t make them too brief - make sure your answers are still complete.

YOU CAN DO IT – GOOD LUCK!!!