Exam 2: Identifying Competitive Advantages

Describe Porter's Five Forces Model and explain each of the five forces.

Which of the following offers an example where Porter's five forces are mostly weak and competition is low?

In terms of system thinking, what is the computer program that processes the data?

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter. Which of the following is not included as one of Porter's three generic strategies?

Which group of stakeholders' primary interests include professional associations, ethical recycling, and increasing employment?

Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?

Which of the following is considered a service?

A standardized set of activities that accomplishes a specific task is called a supply chain component.

Which group of stakeholders' primary interests include adhering to regulations/laws, increasing employment, and ethical taxation reporting?

In terms of system thinking, what controls to ensure correct processes?

When a company is the first to market with a competitive advantage, this is called a first-mover advantage. All of the following companies were first-movers except ________.

Which of the following offers an example of a company operating in a narrow focused-market operating as the low-cost provider?

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

Tiffany & Company competes in the marketplace by offering high-cost custom jewelry. Tiffany & Company is following a broad market and cost leadership strategy.

According to Porter's three generic strategies, Walmart is following a business strategy that focuses on broad market and low cost.

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

Explain why competitive advantages are temporary.

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

What evaluates industry attractiveness?

Which group of stakeholders' primary interests include reliable contracts, ethical materials handling, and responsible production?