Exam 1: What Is Strategy and Why Is It Important

A(n) ________ advantage is a product or service that an organization's customers place a greater value on than similar offerings from a competitor.

The Five Forces Model, the three generic strategies, and value chain analysis are all ____________________ by which organizations can assess their competitive advantage.

What is high when competition is fierce in a market and low when competition is more complacent?

Buyer power in the Porter's Five Forces Model is ________ when buyers have many choices of whom to buy from and low when their choices are few.

Which of the following forces is commonly reduced through the use of a loyalty program?

Explain the relationship among people, processes, information systems, and information.

Who is responsible for ensuring the throughput, transaction speed, accuracy, system availability, and reliability of an organization's information technology?

IS personnel must understand the ___________ if the organization is going to determine which technologies can benefit (or hurt) the business.

The three generic strategies are broad _____________ approaches that organizations fall under.

Which of the following activities does a CIO perform?

Which part of the value chain acquires raw materials and manufactures, delivers, markets, sells, and provides after-sales services?

Which of the following statements is true?

Which of the following is considered data?

Which of the following is Hummer using as its generic strategy?

Who is responsible for collecting, maintaining, and distributing an organization's knowledge?

Which company, in the text, uses environmental scanning to determine everything from how well competing products are selling to the strategic placement of its own products?

Information systems are implemented to support a company's competitive business strategy.

The Five Forces Model helps to determine the relative attractiveness of a/an _____________.

The Five Forces Model, the three generic strategies, and value chain analysis are all methods by which organizations can assess their _______ advantage.

An entry __________ is a product or service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive.