Question 1

Assume you are in the business of producing and selling cars. If you could produce more cars with the same input what would happen to your productivity and profits assuming the price of your cars remains the same?

Accepted Answer

A)   Increase in productivity, decrease in profits
B)   Increase in productivity, increase in profits
C)   Decrease in productivity, decrease in profits
D)   Decrease in productivity, increase in profitsE) B) and C)
F) B) and D)

Question 2

What is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services?

Accepted Answer

A)   Goods
B)   Services
C)   Production
D)   ProductivityE) A) and D)
F) A) and B)

Question 3

There are many different stakeholders found in an organization with common business interests. Depending on the stakeholder's perspective, the business strategy can change. Which of the following is not a main concern for shareholders/investors?

Accepted Answer

A)   Maximize profits
B)   Grow market share
C)   Job security
D)   High return on investmentE) All of the above
F) B) and C)

Question 4

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a cost leadership strategy?

Accepted Answer

A)   Southwest, Horizon, Frontier, JetBlue.
B)   British Airways, Singapore Airlines, Virgin Atlantic.
C)   Sky Taxi - a rent by the hour personal plane service.
D)   All of the choices are correctE) A) and D)
F) A) and B)

Question 5

Cooking a patty and putting the ingredients together are included in which category of making a hamburger?

Accepted Answer

A)   Input
B)   Process
C)   Output
D)   All of the choices are correctE) A) and C)
F) A) and B)

Question 6

The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ________.

Accepted Answer

A)   Feedback
B)   Information
C)   Competitive intelligence
D)   DataE) B) and C)
F) A) and D)

Question 7

In terms of system thinking, what is process?

Accepted Answer

A)   Data entered in a computer
B)   Controls to ensure correct processes
C)   The resulting information from the computer program
D)   The computer program that processes the dataE) None of the above
F) B) and D)

Question 8

There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for customers?

Accepted Answer

A)   Exceptional customer service
B)   Fair compensation
C)   Professional associations
D)   Reliable contractsE) All of the above
F) A) and B)

Question 9

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a differentiation strategy?

Accepted Answer

A)   Southwest, Horizon, Frontier, JetBlue.
B)   British Airways, Singapore Airlines, Virgin Atlantic.
C)   Sky Taxi - a rent by the hour personal plane service.
D)   All of the choices are correct.E) A) and B)
F) All of the above

Question 10

When a company is the first to market with a competitive advantage, it gains a particular benefit known as competitive intelligence.

Accepted Answer

A) True 
 B)False

Question 11

When reviewing Porter's value chain analysis, which of the following provides customer support after the sale of goods and services?

Accepted Answer

A)   Inbound logistics
B)   Outbound logistics
C)   Operations
D)   ServiceE) A) and B)
F) A) and C)

Question 12

What is one of the most common ways a company can decrease supplier power?

Accepted Answer

A)   Charge lower prices.
B)   Charge higher prices.
C)   Use MIS to find and create alternative products.
D)   Companies cannot impact supplier power.E) B) and C)
F) A) and B)

Question 13

Kelly Howard works for Beulah's Boutiques selling high-end jeans and purses. Clothing Retail Services is the current market leader in Kelly's city. Kelly has recently been approached by Scott Jeans Co. with an opportunity to run its corporate nationwide marketing and sales division. Kelly decides to jump at the opportunity! Scott Jeans is attempting to gain a competitive ________ by stealing its competitor's key employees.

Accepted Answer

A)   Power
B)   Entry barrier
C)   Advantage
D)   LoyaltyE) B) and D)
F) C) and D)

Question 14

The banking industry has implemented several competitive advantages including ATM's, online bill pay services, and electronic statements. Of course, these competitive advantages were quickly duplicated by any competitor that wanted to remain in the banking industry. These were all examples of ________ competitive advantages.

Accepted Answer

A)   Acquiring new technology products and services
B)   Hiring new employees
C)   Reducing expenses
D)   Gaining invaluable feedback from customersE) B) and C)
F) A) and D)

Question 15

What is Porter's Five Forces Model?

Accepted Answer

A)   Evaluation of an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.
B)   Analysis of the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry.
C)   View of a firm as a series of business processes, each of which adds value to the product or service.
D)   Generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service.E) A) and B)
F) A) and C)

Question 16

Teaching, waiting tables, and cutting hair belong in which category?

Accepted Answer

A)   Goods
B)   Services
C)   Production
D)   ProductivityE) A) and B)
F) None of the above

Question 17

MIS can add value to both primary activities and support activities in the value chain. Which of the following is not an example of a company adding value by the use of MIS in a primary activity?

Accepted Answer

A)   Scottrade Corp. creating an online system for employees to track paychecks, benefits, wellness rewards program, and other employee benefit items
B)   A system for the sales and marketing departments to track specific sales targets and follow up processes
C)   An easy electronic survey, similar to SurveyMonkey, to be sent to the customer right after a service was completed
D)   Royal Crest Dairy using their custom order and delivery system through an easily accessible Web portal for the customer to track delivery statusE) B) and C)
F) C) and D)

Question 18

Which of the following are included as potential internal strengths in a SWOT analysis that are helpful to an organization?

Accepted Answer

A)   Core competencies, market leaders, cost advantages, excellent management.
B)   Lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line.
C)   Expanded product line, increase in demand, new markets, new regulations.
D)   New entrants, substitute products, shrinking markets, costly regulatory requirements.E) All of the above
F) B) and D)

Question 19

Where would you categorize weaknesses in a SWOT analysis?

Accepted Answer

A)   Internal, helpful
B)   Internal, harmful
C)   External, helpful
D)   External, harmfulE) All of the above
F) A) and B)

Question 20

In a SWOT analysis, which of the following could you discover as potential external opportunities (helpful) ?

Accepted Answer

A)   Cost advantages.
B)   Damaged reputation.
C)   New markets.
D)   Improved marketing campaigns.E) B) and D)
F) All of the above

Exam 2: Identifying Competitive Advantages

Correct Answer
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MIS can add value to both primary activities and support activities in the value chain. Which of the following is not an example of a company adding value by the use of MIS in a primary activity?

Correct Answer
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In terms of system thinking, what is process?

Correct Answer
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What is Porter's Five Forces Model?

Correct Answer
verified

What is one of the most common ways a company can decrease supplier power?

Correct Answer
verified

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a differentiation strategy?

Correct Answer
verified

When a company is the first to market with a competitive advantage, it gains a particular benefit known as competitive intelligence.

Correct Answer
verified

The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ________.

Correct Answer
verified

Cooking a patty and putting the ingredients together are included in which category of making a hamburger?

Correct Answer
verified

When reviewing Porter's value chain analysis, which of the following provides customer support after the sale of goods and services?

Correct Answer
verified

Teaching, waiting tables, and cutting hair belong in which category?

Correct Answer
verified

In a SWOT analysis, which of the following could you discover as potential external opportunities (helpful) ?

Correct Answer
verified

Which of the following are included as potential internal strengths in a SWOT analysis that are helpful to an organization?

Correct Answer
verified

Assume you are in the business of producing and selling cars. If you could produce more cars with the same input what would happen to your productivity and profits assuming the price of your cars remains the same?

Correct Answer
verified

There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for customers?

Correct Answer
verified

Correct Answer
verified

What is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services?

Correct Answer
verified

There are many different stakeholders found in an organization with common business interests. Depending on the stakeholder's perspective, the business strategy can change. Which of the following is not a main concern for shareholders/investors?

Correct Answer
verified

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a cost leadership strategy?

Correct Answer
verified

Where would you categorize weaknesses in a SWOT analysis?

Correct Answer
verified

Exam 2: Identifying Competitive Advantages

Correct AnswerverifiedShow Answer

MIS can add value to both primary activities and support activities in the value chain. Which of the following is not an example of a company adding value by the use of MIS in a primary activity?

Correct AnswerverifiedShow Answer

In terms of system thinking, what is process?

Correct AnswerverifiedShow Answer

What is Porter's Five Forces Model?

Correct AnswerverifiedShow Answer

What is one of the most common ways a company can decrease supplier power?

Correct AnswerverifiedShow Answer

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a differentiation strategy?

Correct AnswerverifiedShow Answer

When a company is the first to market with a competitive advantage, it gains a particular benefit known as competitive intelligence.

Correct AnswerverifiedShow Answer

The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ________.

Correct AnswerverifiedShow Answer

Cooking a patty and putting the ingredients together are included in which category of making a hamburger?

Correct AnswerverifiedShow Answer

When reviewing Porter's value chain analysis, which of the following provides customer support after the sale of goods and services?

Correct AnswerverifiedShow Answer

Teaching, waiting tables, and cutting hair belong in which category?

Correct AnswerverifiedShow Answer

In a SWOT analysis, which of the following could you discover as potential external opportunities (helpful) ?

Correct AnswerverifiedShow Answer

Which of the following are included as potential internal strengths in a SWOT analysis that are helpful to an organization?

Correct AnswerverifiedShow Answer

Assume you are in the business of producing and selling cars. If you could produce more cars with the same input what would happen to your productivity and profits assuming the price of your cars remains the same?

Correct AnswerverifiedShow Answer

There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for customers?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services?

Correct AnswerverifiedShow Answer

There are many different stakeholders found in an organization with common business interests. Depending on the stakeholder's perspective, the business strategy can change. Which of the following is not a main concern for shareholders/investors?

Correct AnswerverifiedShow Answer

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a cost leadership strategy?

Correct AnswerverifiedShow Answer

Where would you categorize weaknesses in a SWOT analysis?

Correct AnswerverifiedShow Answer

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