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Enter high or low in the blank: The threat of substitute products or services is _____ when there are many alternatives to a product or service and low when there are few alternatives from which to choose.

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Zappos is not a technology company;its primary business focus is to sell books.

A) True
B) False

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What includes all parties involved,directly or indirectly,in obtaining raw materials or a product?


A) Support chain.
B) Supply chain.
C) System chain.
D) Supply choice.

E) B) and C)
F) None of the above

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How can a company reduce the threat of substitute products or services?


A) Market the product to less than ten customers.
B) Ignore competitive forces.
C) Offer additional value through wider product distribution.
D) Offer less value making the product far more generic and similar to the competition.

E) A) and B)
F) None of the above

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A __________ is a collection of parts that link to achieve a common purpose.

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Sandy Fiero works as the Chief Knowledge Officer for Bend Lumbar Company.She has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue.Sandy determines that the best value she can add is by creating a service that offers free next day shipping on any order over $50.Where in the value chain is Sandy adding value?


A) The primary value activity outbound logistics.
B) The primary value activity inbound logistics.
C) The primary value activity marketing and sales.
D) The primary value activity operations.

E) A) and C)
F) B) and D)

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What are material items or products that customer's will buy to satisfy a want or need?


A) Goods
B) Services
C) Production
D) Productivity

E) B) and D)
F) A) and C)

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


A) Goods
B) Services
C) Production
D) Productivity

E) A) and B)
F) C) and D)

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What are tasks performed by people that customer's will buy to satisfy a want or need?


A) Goods
B) Services
C) Production
D) Productivity

E) None of the above
F) B) and D)

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Paula Logston is the owner and operator of a high-end online custom clothing company.Paula has never heard of Porter's Five Forces model and she wants to understand why she would perform an analysis using it.If you were tasked with explaining Porter's Five Forces model to Paula what would be the primary reason she would want to use this type of analysis?


A) To help Paula choose a clothing business focus.
B) To help Paula evaluate the attractiveness of the clothing industry.
C) To help Paula evaluate and execute business goals.
D) All of the above.

E) A) and C)
F) B) and C)

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What is the confirmation or validation of an event or object?


A) Fact.
B) Data.
C) Information technology.
D) All of the above.

E) A) and C)
F) A) and B)

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The actual hamburger is included in which category of making a hamburger?


A) Input
B) Process
C) Output
D) All of the above

E) A) and C)
F) B) and D)

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


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 above.

E) A) and B)
F) C) and D)

Correct Answer

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What is the name of a company's internal MIS department?


A) Management information systems (MIS)
B) Information systems (IS)
C) Information technology (IT)
D) All of the above

E) All of the above
F) A) and B)

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Which of the below represents procurement as part of the support value activities in a value chain analysis?


A) Purchases inputs such as raw materials,resources,equipment and supplies.
B) Applies MIS to processes to add value.
C) Distributes goods and services to customers.
D) Promotes,prices,and sells products to customers.

E) None of the above
F) A) and C)

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Companies today are successful when they combine the power of the information age with traditional business methods.

A) True
B) False

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Imagine you are creating a new product to sell in an up-and-coming market.Which of the below statements indicates that it would be easy for you as the new entrants to compete in this market?


A) The threat of new entrants force is high in the up-and-coming market.
B) The threat of new entrants force is low in the up-and-coming market.
C) The threat of new entrants force is impossible to define in the up-and-coming market.
D) All of the above depending on the time of year.

E) A) and B)
F) A) and C)

Correct Answer

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Porter has identified three _________ business strategies for entering a new market: 1)broad cost leadership,2)broad differentiation,and 3)focused strategy.

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Cheryl Steffan is the operations manager for Nature's Bread Company,which specializes in providing natural products for health conscious individuals.Cheryl is responsible for compiling,analyzing,and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day.Which of the following is an example of the type of information Cheryl would be using to successfully perform her job?


A) Craig Newmark is customer number 15467.
B) Compare the costs of supplies including energy over the last five years to determine the best-selling product by month.
C) Best-selling product by day.
D) Best-selling product changes when Tony the best baker is working.

E) A) and D)
F) A) and C)

Correct Answer

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Waiting tables,teaching,and cutting hair are all examples of services that people pay for to fulfill their needs.

A) True
B) False

Correct Answer

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