Question 1

Three key resources-people, processes, and information systems, (in that order of priority)-are inextricably linked.If one fails, they all fail.

Accepted Answer

A) True 
 B)False

Question 2

What is the acquisition and analysis of events and trends in the environment external to an organization?

Accepted Answer

A)  Private exchange 
B)  First-mover advantage 
C)  Environmental scanning 
D)  Loyalty program 
A)  Private exchange 
B)  First-mover advantage 
C)  Environmental scanning 
D)  Loyalty program

Question 3

What is any computer-based tool that people use to work with information and support the information and information-processing needs of an organization?

Accepted Answer

A)  Information systems 
B)  Management information systems 
C)  Technology's role in business 
D)  Technology's impact on business 
A)  Information systems 
B)  Management information systems 
C)  Technology's role in business 
D)  Technology's impact on business

Question 4

The _______ knowledge officer is responsible for collecting, maintaining, and distributing the organization's knowledge.

Accepted Answer

The answer of The _______ knowledge officer is responsible for...

Question 5

Which of the following companies uses the broad differentiation strategy?

Accepted Answer

A)  Hyundai 
B)  Audi 
C)  Kia 
D)  Tesla 
A)  Hyundai 
B)  Audi 
C)  Kia 
D)  Tesla

Question 6

Which of the following can an organization use to evaluate the effectiveness of its business processes?

Accepted Answer

A)  Porter's Five Forces Model 
B)  Three generic strategies 
C)  Value chain 
D)  First-mover advantage strategy 
A)  Porter's Five Forces Model 
B)  Three generic strategies 
C)  Value chain 
D)  First-mover advantage strategy

Question 7

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

Accepted Answer

The answer of The Five Forces Model, the three generic...

Question 8

Information technology equals business success and innovation.

Accepted Answer

A) True 
 B)False

Question 9

A(n) __________ exchange is a business-to-business (B2B) marketplace in which a single buyer posts its needs and then opens the bidding to any supplier who would care to bid.

Accepted Answer

The answer of A(n) __________ exchange is a business-to-business (B2B)...

Question 10

Explain why competitive advantages are typically temporary.

Accepted Answer

Competitive advantages are typically tem

Question 11

List and describe Porter's three generic strategies and provide an example of a company that is using each strategy.

Accepted Answer

Organizations typically follow one of Po

Question 12

Buyer power, supplier power, threat of substitute products or services, threat of new ________, and rivalry among existing competitors are all included in Porter's Five Forces Model.

Accepted Answer

The answer of Buyer power, supplier power, threat of substitute...

Question 13

_______ in the Five Forces Model is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market.

Accepted Answer

A)  Buyer power 
B)  Supplier power 
C)  Threat of new entrants 
D)  Rivalry among existing competitors 
A)  Buyer power 
B)  Supplier power 
C)  Threat of new entrants 
D)  Rivalry among existing competitors

Question 14

Switching costs are typically used to influence the threat of substitute products or services.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following information cultures would have the greatest negative impact on Apple's business?

Accepted Answer

A)  Information-functional culture 
B)  Information-sharing culture 
C)  Information-inquiring culture 
D)  Information-discovery culture 
A)  Information-functional culture 
B)  Information-sharing culture 
C)  Information-inquiring culture 
D)  Information-discovery culture

Question 16

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 product or service that an organization's customers value more highly than 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 product or service that an organization's customers place a greater value on than similar offerings from a competitor 
A)  A product that an organization's customers place a lesser value on than similar offerings from a competitor 
B)  A product or service that an organization's customers value more highly than 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 product or service that an organization's customers place a greater value on than similar offerings from a competitor

Question 17

What did Thomas Friedman believe happened to the world because of the unplanned cascade of technological and social shifts?

Accepted Answer

A)  The world became bigger 
B)  The world became flat 
C)  The world became larger 
D)  The world became more sophisticated 
A)  The world became bigger 
B)  The world became flat 
C)  The world became larger 
D)  The world became more sophisticated

Question 18

Which of the following forces is commonly reduced through the use of switching costs?

Accepted Answer

A)  Buyer power 
B)  Supplier power 
C)  Threat of substitute products or services 
D)  Rivalry among existing competitors 
A)  Buyer power 
B)  Supplier power 
C)  Threat of substitute products or services 
D)  Rivalry among existing competitors

Question 19

What is an auction format in which increasingly lower bids are solicited from organizations willing to supply the desired product or service at an increasingly lower price?

Accepted Answer

A)  Reverse auction 
B)  Private exchange 
C)  Private auction 
D)  Reverse exchange 
A)  Reverse auction 
B)  Private exchange 
C)  Private auction 
D)  Reverse exchange

Question 20

_________ programs reward customers based on the amount of business they do with a particular organization.

Accepted Answer

The answer of _________ programs reward customers based on the...

Three key resources-people, processes, and information systems, (in that order of priority)-are inextricably linked.If one fails, they all fail.

What is the acquisition and analysis of events and trends in the environment external to an organization?

What is any computer-based tool that people use to work with information and support the information and information-processing needs of an organization?

The _______ knowledge officer is responsible for collecting, maintaining, and distributing the organization's knowledge.

Which of the following companies uses the broad differentiation strategy?

Which of the following can an organization use to evaluate the effectiveness of its business processes?

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

Information technology equals business success and innovation.

A(n) __________ exchange is a business-to-business (B2B) marketplace in which a single buyer posts its needs and then opens the bidding to any supplier who would care to bid.

Explain why competitive advantages are typically temporary.

List and describe Porter's three generic strategies and provide an example of a company that is using each strategy.

Buyer power, supplier power, threat of substitute products or services, threat of new ________, and rivalry among existing competitors are all included in Porter's Five Forces Model.

_______ in the Five Forces Model is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market.

Switching costs are typically used to influence the threat of substitute products or services.

Which of the following information cultures would have the greatest negative impact on Apple's business?

What is a competitive advantage?

What did Thomas Friedman believe happened to the world because of the unplanned cascade of technological and social shifts?

Which of the following forces is commonly reduced through the use of switching costs?

What is an auction format in which increasingly lower bids are solicited from organizations willing to supply the desired product or service at an increasingly lower price?

_________ programs reward customers based on the amount of business they do with a particular organization.

Charting a Companys Direction: Its Vision, Mission, Objectives, and Strategy

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters

Exam 1: What Is Strategy and Why Is It Important

Three key resources-people, processes, and information systems, (in that order of priority)-are inextricably linked.If one fails, they all fail.

What is the acquisition and analysis of events and trends in the environment external to an organization?

What is any computer-based tool that people use to work with information and support the information and information-processing needs of an organization?

The _______ knowledge officer is responsible for collecting, maintaining, and distributing the organization's knowledge.

Which of the following companies uses the broad differentiation strategy?

Which of the following can an organization use to evaluate the effectiveness of its business processes?

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

Information technology equals business success and innovation.

A(n) __________ exchange is a business-to-business (B2B) marketplace in which a single buyer posts its needs and then opens the bidding to any supplier who would care to bid.

Explain why competitive advantages are typically temporary.

List and describe Porter's three generic strategies and provide an example of a company that is using each strategy.

Buyer power, supplier power, threat of substitute products or services, threat of new ________, and rivalry among existing competitors are all included in Porter's Five Forces Model.

_______ in the Five Forces Model is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market.

Switching costs are typically used to influence the threat of substitute products or services.

Which of the following information cultures would have the greatest negative impact on Apple's business?

What is a competitive advantage?

What did Thomas Friedman believe happened to the world because of the unplanned cascade of technological and social shifts?

Which of the following forces is commonly reduced through the use of switching costs?

What is an auction format in which increasingly lower bids are solicited from organizations willing to supply the desired product or service at an increasingly lower price?

_________ programs reward customers based on the amount of business they do with a particular organization.

Charting a Companys Direction: Its Vision, Mission, Objectives, and Strategy

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters