Exam 5: Business- and Functional-Level Strategy

Direct outputs can include widely recognized items, such as raw materials, fixed assets, and financial support.

Porter's Five Forces model is based on:

Which of the following provides some aspect of the product that differs from that of the firm's competitors, such that customers will pay a premium for the product?

Products that sell well with another product are called:

A global positioning strategy is common with many consumer products firms, particularly those in food and beverage, which must customize their products to local tastes.

Accounting is not only concerned with maintaining information about the financial status of the firm, but also with providing data on how the firm is meeting its strategic objectives.

What are the characteristics that determine if the power of the buyers is high?

Threat of substitute products is typically the force that has the greatest impact in the Five Forces model.

_____ strategies are those strategies that direct what occurs in the individual operative areas

Which of the following accounting standards is used in the U.S.?

The business-level strategy is how a firm will compete in a particular product-market.

Vertically and horizontally integrated business groups that dominate the Japanese economy are called:

The keiretsu are the vertically and horizontally integrated business groups that dominate the Japanese economy.

All of the following are the characteristics that determine if the power of the buyers is high EXCEPT:

In a turnkey operation, one part of the company is responsible for setting up the plant and equipment.