Question 1

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

Accepted Answer

A)  The three generic strategies.
B)  The threat of substitute buyer power.
C)  Differentiated costs.
D)  Supplier loyalty.E) B) and C)
F) None of the above

Question 2

Broad differentiation, broad cost leadership, and _________ create the three generic strategies identified by Porter.

Accepted Answer

A)  Narrow market leadership
B)  High cost versus low cost
C)  Focused strategy
D)  None of theseE) B) and C)
F) A) and D)

Question 3

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 D)

Question 4

Value chain analysis views a firm as a series of business processes that each adds value to the product or service.

Accepted Answer

A) True 
 B)False

Question 5

What are Porter's three generic strategies?

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) All of the above

Question 6

What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?

Accepted Answer

A)  Significant barrier
B)  Entry barrier
C)  Product differentiation
D)  Entry chainE) All of the above
F) None of the above

Question 7

Firm infrastructure and human resource management are part of the support value activities.

Accepted Answer

A) True 
 B)False

Question 8

When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?

Accepted Answer

A)  A niche market.
B)  A broad market.
C)  Neither niche nor broad markets.
D)  Both niche and broad markets.E) A) and B)
F) None of the above

Question 9

What is supplier power?

Accepted Answer

A)  The ability of buyers to affect the price they must pay for an item.
B)  The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services) .
C)  High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market.
D)  High when there are many alternatives to a product or service and low when there are few alternatives from which to choose.E) A) and D)
F) B) and C)

Question 10

Firm infrastructure and human resource management are part of the primary value activities.

Accepted Answer

A) True 
 B)False

Question 11

In a SWOT analysis, potential external threats are harmful when they identify all threats or risks detrimental to your organization, including new market entrants, substitute products, employee turnover, differentiating products, shrinking markets, adverse changes in regulations, economic shifts, and so on.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is similar to focused strategy versus broad strategy?

Accepted Answer

A)  Large market versus leadership.
B)  Large market versus uniqueness.
C)  Niche market versus large market.
D)  Niche market versus generic.E) A) and B)
F) B) and C)

Question 13

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 the survey monkey, 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 status.E) A) and B)
F) None of the above

Question 14

Which strategy below helps an organization choose its business focus?

Accepted Answer

A)  SWOT Analysis
B)  The Five Forces Model
C)  Value Chain Analysis
D)  Three Generic StrategiesE) B) and D)
F) B) and C)

Question 15

Kevin Campbell is an incoming freshman at your college.Kevin is frustrated by the cost of books, tuition, and expenses, and he also needs to purchase a rather expensive laptop.In an effort to save money, Kevin begins a Facebook group finding other college students who need to purchase laptops.Soon, Kevin's Facebook group has close to 100,000 students.Kevin decides to collectively approach different computer companies to see if his group qualifies for a special discount.What business strategy is Kevin using to purchase laptops?

Accepted Answer

A)  Collecting business intelligence
B)  Decreasing entry barriers
C)  Purchasing a substitute product
D)  Increasing buyer powerE) None of the above
F) A) and B)

Question 16

Inbound logistics and operations are part of the support value activities.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A)  Support chain
B)  Supply chain
C)  System chain
D)  Supply choiceE) A) and C)
F) C) and D)

Question 18

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 the community?

Accepted Answer

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

Question 19

What is rivalry among existing competitors?

Accepted Answer

A)  The ability of buyers to affect the price they must pay for an item.
B)  The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services) .
C)  High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market.
D)  High when competition is fierce in a market and low when competitors are more complacent.E) A) and D)
F) A) and C)

Question 20

What does a SWOT analysis do?

Accepted Answer

A)  Evaluates an organizations strengths, weaknesses, objectives, and threats.
B)  Evaluates an organization's strengths, weaknesses, opportunities, and threats.
C)  Evaluates an organization's supporters, weaknesses, opportunities, and technology.
D)  Evaluates an organization's systems, warehouses, outputs, and technology.E) A) and B)
F) A) and C)

Exam 2: Identifying Competitive Advantages

Correct Answer
verified

Firm infrastructure and human resource management are part of the primary value activities.

Correct Answer
verified

What is rivalry among existing competitors?

Correct Answer
verified

Which of the following is similar to focused strategy versus broad strategy?

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

Value chain analysis views a firm as a series of business processes that each adds value to the product or service.

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 the community?

Correct Answer
verified

When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?

Correct Answer
verified

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
verified

Correct Answer
verified

What are Porter's three generic strategies?

Correct Answer
verified

Firm infrastructure and human resource management are part of the support value activities.

Correct Answer
verified

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

Correct Answer
verified

Broad differentiation, broad cost leadership, and _________ create the three generic strategies identified by Porter.

Correct Answer
verified

Which strategy below helps an organization choose its business focus?

Correct Answer
verified

What does a SWOT analysis do?

Correct Answer
verified

What is supplier power?

Correct Answer
verified

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

Correct Answer
verified

Inbound logistics and operations are part of the support value activities.

Correct Answer
verified

What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?

Correct Answer
verified

Exam 2: Identifying Competitive Advantages

Correct AnswerverifiedShow Answer

Firm infrastructure and human resource management are part of the primary value activities.

Correct AnswerverifiedShow Answer

What is rivalry among existing competitors?

Correct AnswerverifiedShow Answer

Which of the following is similar to focused strategy versus broad strategy?

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

Value chain analysis views a firm as a series of business processes that each adds value to the product or service.

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 the community?

Correct AnswerverifiedShow Answer

When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?

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

Correct AnswerverifiedShow Answer

What are Porter's three generic strategies?

Correct AnswerverifiedShow Answer

Firm infrastructure and human resource management are part of the support value activities.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Broad differentiation, broad cost leadership, and _________ create the three generic strategies identified by Porter.

Correct AnswerverifiedShow Answer

Which strategy below helps an organization choose its business focus?

Correct AnswerverifiedShow Answer

What does a SWOT analysis do?

Correct AnswerverifiedShow Answer

What is supplier power?

Correct AnswerverifiedShow Answer

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

Correct AnswerverifiedShow Answer

Inbound logistics and operations are part of the support value activities.

Correct AnswerverifiedShow Answer

What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?

Correct AnswerverifiedShow Answer

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