Question 1

Where would you categorize threats in a SWOT analysis?

Accepted Answer

A)  Internal, helpful 
B)  Internal, harmful 
C)  External, helpful 
D)  External, harmful 
A)  Internal, helpful 
B)  Internal, harmful 
C)  External, helpful 
D)  External, harmful

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Which of the following are included as potential internal weaknesses in a SWOT analysis that are harmful 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B)  Lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line.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. 
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B)  Lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line.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.

Question 4

Compare Porter's three generic strategies.

Accepted Answer

Organizations typically follow one of Po

Question 5

A ________ features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Accepted Answer

A)  Competitive advantage 
B)  Competitor advantage 
C)  Power advantage 
D)  First mover advantage 
A)  Competitive advantage 
B)  Competitor advantage 
C)  Power advantage 
D)  First mover advantage

Question 6

Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.

Accepted Answer

A) True 
 B)False

Question 7

According to Porter it is recommended to adopt only one of the three generic strategies.

Accepted Answer

A) True 
 B)False

Question 8

In a SWOT analysis, strengths and weaknesses originate ________ an organization.

Accepted Answer

A)  Outside (externally) 
B)  Inside (internally) 
C)  Both "Outside (externally) and Inside (internally)" 
D)  None of these 
A)  Outside (externally) 
B)  Inside (internally) 
C)  Both "Outside (externally) and Inside (internally)" 
D)  None of these

Question 9

Updating business strategies is a continuous undertaking as internal and external environments ________.

Accepted Answer

A)  Become less competitive 
B)  Remain stagnant 
C)  Rapidly change 
D)  Become more consistent 
A)  Become less competitive 
B)  Remain stagnant 
C)  Rapidly change 
D)  Become more consistent

Question 10

A leadership plan that achieves a specific set of goals or objectives is a business strategy.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following demonstrates a company that has implemented a low cost, broad market strategy?

Accepted Answer

A)  Neiman Marcus 
B)  Payless Shoes 
C)  The Sharper Image 
D)  Walmart 
A)  Neiman Marcus 
B)  Payless Shoes 
C)  The Sharper Image 
D)  Walmart

Question 12

Identifying competitive advantages can be difficult, which explains why most competitive advantages are typically

Accepted Answer

A)  temporary. 
B)  satisfactory. 
C)  terminated. 
D)  unsuccessful. 
A)  temporary. 
B)  satisfactory. 
C)  terminated. 
D)  unsuccessful.

Question 13

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

Accepted Answer

A)  Input 
B)  Process 
C)  Output 
D)  All of the choices are correct 
A)  Input 
B)  Process 
C)  Output 
D)  All of the choices are correct

Question 14

In a SWOT analysis, potential internal weaknesses are harmful when they identify all key areas that require improvement. Weaknesses focus on the absence of certain strengths, including absence of an Internet marketing plan, damaged reputation, problem areas for service, outdated technology, and employee issues.

Accepted Answer

A) True 
 B)False

Question 15

Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.

Accepted Answer

A) True 
 B)False

Question 16

In a SWOT analysis, potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, and competitor issues.

Accepted Answer

A) True 
 B)False

Question 17

Mark Peterson identified the Porter's Five Forces Model which analyzes the competitive forces within a business environment.

Accepted Answer

A) True 
 B)False

Question 18

A first-mover advantage is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is considered a good?

Accepted Answer

A)  Cars 
B)  Groceries 
C)  Clothing 
D)  All of the choices are correct 
A)  Cars 
B)  Groceries 
C)  Clothing 
D)  All of the choices are correct

Question 20

Your boss, David Ferrell, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents supplier power in the soft drink industry?

Accepted Answer

A)  Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases. 
B)  Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store. 
C)  Zevia Natural Diet Soda begins selling directly over the Internet. 
D)  Vitamin water, fruit juice, and coffee are all beverage options available to consumers. 
A)  Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases. 
B)  Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store. 
C)  Zevia Natural Diet Soda begins selling directly over the Internet. 
D)  Vitamin water, fruit juice, and coffee are all beverage options available to consumers.

Exam 2: Identifying Competitive Advantages

Where would you categorize threats in a SWOT analysis?

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

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

Compare Porter's three generic strategies.

A ________ features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.

According to Porter it is recommended to adopt only one of the three generic strategies.

In a SWOT analysis, strengths and weaknesses originate ________ an organization.

Updating business strategies is a continuous undertaking as internal and external environments ________.

A leadership plan that achieves a specific set of goals or objectives is a business strategy.

Which of the following demonstrates a company that has implemented a low cost, broad market strategy?

Identifying competitive advantages can be difficult, which explains why most competitive advantages are typically

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

Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.

In a SWOT analysis, potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, and competitor issues.

Mark Peterson identified the Porter's Five Forces Model which analyzes the competitive forces within a business environment.

A first-mover advantage is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.

Which of the following is considered a good?

Your boss, David Ferrell, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents supplier power in the soft drink industry?

Business Driven Technology

Strategic Initiatives for Implementing Competitive Advantages

Measuring the Success of Strategic Initiatives

Organizational Structures That Support Strategic Initiatives

Valuing and Storing Organizational Informationdatabases

Accessing Organizational Informationdata Warehouses

Understanding Big Data and Its Impact on Business

Enabling the Organizationdecision Making

Extending the Organizationsupply Chain Management

Building a Customer-Centric Organizationcustomer Relationship Management

Integrating the Organization From End to Endenterprise Resource Planning

Creating Innovative Organizations

Ebusiness

Creating Collaborative Partnerships

Integrating Wireless Technology in Business

Developing Software to Streamline Operations

Methodologies for Supporting Agile Organizations

Managing Organizational Projects

Business Driven Technology

Identifying Competitive Advantages

Strategic Initiatives for Implementing Competitive Advantages

Measuring the Success of Strategic Initiatives

Organizational Structures That Support Strategic Initiatives

Valuing and Storing Organizational Informationdatabases

Accessing Organizational Informationdata Warehouses

Understanding Big Data and Its Impact on Business

Enabling the Organizationdecision Making

Extending the Organizationsupply Chain Management

Building a Customer-Centric Organizationcustomer Relationship Management

Integrating the Organization From End to Endenterprise Resource Planning

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