Question 1

In terms of system thinking, what is the resulting information from the computer program?

Accepted Answer

A)  Input 
B)  Output 
C)  Process 
D)  Feedback 
A)  Input 
B)  Output 
C)  Process 
D)  Feedback

Question 2

The value chain will group a company's activities into two categories: primary value activities and support value activities.

Accepted Answer

A) True 
 B)False

Question 3

What are services?

Accepted Answer

A)  Material items or products that customers will buy to satisfy a want or need 
B)  Tasks performed by people that customers will buy to satisfy a want or need 
C)  The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services 
D)  The rate at which goods and services are produced based upon total output given total inputs 
A)  Material items or products that customers will buy to satisfy a want or need 
B)  Tasks performed by people that customers will buy to satisfy a want or need 
C)  The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services 
D)  The rate at which goods and services are produced based upon total output given total inputs

Question 4

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

Question 5

Which group of stakeholders' primary interests include exceptional customer service, high-quality products, and ethical dealings?

Accepted Answer

A)  Partners/Suppliers 
B)  Shareholders/Investors 
C)  Community 
D)  Customers 
A)  Partners/Suppliers 
B)  Shareholders/Investors 
C)  Community 
D)  Customers

Question 6

In terms of system thinking, what is feedback?

Accepted Answer

A)  Data entered in a computer 
B)  Controls to ensure correct processes 
C)  The resulting information from the computer program 
D)  The computer program that processes the data 
A)  Data entered in a computer 
B)  Controls to ensure correct processes 
C)  The resulting information from the computer program 
D)  The computer program that processes the data

Question 7

Which of the following statements is correct when considering a SWOT analysis?

Accepted Answer

A)  Strengths and weaknesses originate outside an organization. 
B)  Opportunities and threats originate outside an organization. 
C)  Strengths and threats originate inside an organization. 
D)  Opportunities and weaknesses organization outside an organization. 
A)  Strengths and weaknesses originate outside an organization. 
B)  Opportunities and threats originate outside an organization. 
C)  Strengths and threats originate inside an organization. 
D)  Opportunities and weaknesses organization outside an organization.

Question 8

Todd Wallace works as the chief knowledge officer for Pennsylvania Lumber Company. He 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. Todd determines that the best value he can add is by creating a service that offers free next day shipping on any order over $50. Where in the value chain is Todd adding value?

Accepted Answer

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 
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

Question 9

What is a competitive advantage?

Accepted Answer

A)  A product that an organization's customers place a lesser value on than similar offerings from a competitor. 
B)  A feature of a product or service on which customers place a lesser value than they do on similar offerings from a supplier. 
C)  A service that an organization's customers place a lesser value on than similar offerings from a supplier. 
D)  A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors. 
A)  A product that an organization's customers place a lesser value on than similar offerings from a competitor. 
B)  A feature of a product or service on which customers place a lesser value than they do on similar offerings from a supplier. 
C)  A service that an organization's customers place a lesser value on than similar offerings from a supplier. 
D)  A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors.

Question 10

Which of the following are included as potential external opportunities in a SWOT analysis that are helpful 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 11

What is a value chain analysis?

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 
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

Question 12

A system is a collection of parts that link to achieve a common purpose. Systems thinking is a way of monitoring ________.

Accepted Answer

A)  The entire system. 
B)  A division within the sales role. 
C)  The executive team. 
D)  The company's competitors. 
A)  The entire system. 
B)  A division within the sales role. 
C)  The executive team. 
D)  The company's competitors.

Question 13

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________.

Accepted Answer

A)  Focused strategy, product differentiation 
B)  Focused strategy, cost advantage 
C)  Cost advantage, primary value activities 
D)  Cost advantage, product differentiation 
A)  Focused strategy, product differentiation 
B)  Focused strategy, cost advantage 
C)  Cost advantage, primary value activities 
D)  Cost advantage, product differentiation

Question 14

Toby Bertram is an incoming freshman at your college. Toby 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, Toby begins a Facebook group finding other college students who need to purchase laptops. Soon, Toby's Facebook group has close to 100,000 students. Toby decides to collectively approach different computer companies to see if his group qualifies for a special discount. What business strategy is Toby using to purchase laptops?

Accepted Answer

A)  Collecting business intelligence 
B)  Decreasing entry barriers 
C)  Purchasing a substitute product 
D)  Increasing buyer power 
A)  Collecting business intelligence 
B)  Decreasing entry barriers 
C)  Purchasing a substitute product 
D)  Increasing buyer power

Question 15

Angela Lewis owns and operates one of the most successful local book stores in Buffalo, called The Bookworm. Each time a customer purchases their 10th book at The Bookworm, they receive a $5 off coupon. What is Angela attempting to create with her $5 off marketing program?

Accepted Answer

A)  Reducing buyer power with a loyalty program 
B)  Increasing buyer power with a loyalty program 
C)  Decreasing supplier power with a differentiated product 
D)  Creating a substitute product 
A)  Reducing buyer power with a loyalty program 
B)  Increasing buyer power with a loyalty program 
C)  Decreasing supplier power with a differentiated product 
D)  Creating a substitute product

Question 16

What is a SWOT analysis?

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. 
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.

Question 17

Which of the following is considered a service?

Accepted Answer

A)  Selling groceries 
B)  Managing a team 
C)  Cutting hair 
D)  All of the choices are correct 
A)  Selling groceries 
B)  Managing a team 
C)  Cutting hair 
D)  All of the choices are correct

Question 18

Which of the following is not considered a category within the primary value activities in a value chain analysis?

Accepted Answer

A)  Inbound logistics 
B)  Firm infrastructure 
C)  Operations 
D)  Service 
A)  Inbound logistics 
B)  Firm infrastructure 
C)  Operations 
D)  Service

Question 19

Which of the following is considered a service?

Accepted Answer

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

Question 20

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?

Accepted Answer

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 these depending on the time of year. 
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 these depending on the time of year.

Exam 2: Identifying Competitive Advantages

In terms of system thinking, what is the resulting information from the computer program?

The value chain will group a company's activities into two categories: primary value activities and support value activities.

What are services?

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

Which group of stakeholders' primary interests include exceptional customer service, high-quality products, and ethical dealings?

In terms of system thinking, what is feedback?

Which of the following statements is correct when considering a SWOT analysis?

What is a competitive advantage?

Which of the following are included as potential external opportunities in a SWOT analysis that are helpful to an organization?

What is a value chain analysis?

A system is a collection of parts that link to achieve a common purpose. Systems thinking is a way of monitoring ________.

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________.

Angela Lewis owns and operates one of the most successful local book stores in Buffalo, called The Bookworm. Each time a customer purchases their 10th book at The Bookworm, they receive a $5 off coupon. What is Angela attempting to create with her $5 off marketing program?

What is a SWOT analysis?

Which of the following is considered a service?

Which of the following is not considered a category within the primary value activities in a value chain analysis?

Which of the following is considered a service?

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?

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

Filters

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a or .