Question 1

What is rivalry among existing competitors?

Accepted Answer

A) The ability of buyers to affect the price they must pay for an item. 
B) The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services). 
C) High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market. 
D) High when competition is fierce in a market and low when competitors are more complacent. 
A) The ability of buyers to affect the price they must pay for an item. 
B) The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services). 
C) High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market. 
D) High when competition is fierce in a market and low when competitors are more complacent.

Question 2

There are many different stakeholders found in an organization.Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change.Which of the following is a main concern for the community?

Accepted Answer

A) Exceptional customer service 
B) Fair compensation 
C) Professional associations 
D) Reliable contracts 
A) Exceptional customer service 
B) Fair compensation 
C) Professional associations 
D) Reliable contracts

Question 3

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

Accepted Answer

A) The three generic strategies. 
B) The threat of substitute buyer power. 
C) Differentiated costs. 
D) Supplier loyalty. 
A) The three generic strategies. 
B) The threat of substitute buyer power. 
C) Differentiated costs. 
D) Supplier loyalty.

Question 4

What includes all parties involved, directly or indirectly, in obtaining raw materials or a product?

Accepted Answer

A) Support chain 
B) Supply chain 
C) System chain 
D) Supply choice 
A) Support chain 
B) Supply chain 
C) System chain 
D) Supply choice

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is similar to focused strategy versus broad strategy?

Accepted Answer

A) Large market versus leadership. 
B) Large market versus uniqueness. 
C) Niche market versus large market. 
D) Niche market versus generic. 
A) Large market versus leadership. 
B) Large market versus uniqueness. 
C) Niche market versus large market. 
D) Niche market versus generic.

Question 7

What is supplier power?

Accepted Answer

A) The ability of buyers to affect the price they must pay for an item. 
B) The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services). 
C) High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market. 
D) High when there are many alternatives to a product or service and low when there are few alternatives from which to choose. 
A) The ability of buyers to affect the price they must pay for an item. 
B) The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services). 
C) High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market. 
D) High when there are many alternatives to a product or service and low when there are few alternatives from which to choose.

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Which strategy below helps an organization choose its business focus?

Accepted Answer

A) SWOT Analysis 
B) The Five Forces Model 
C) Value Chain Analysis 
D) Three Generic Strategies 
A) SWOT Analysis 
B) The Five Forces Model 
C) Value Chain Analysis 
D) Three Generic Strategies

Question 10

Broad differentiation, broad cost leadership, and _________ create the three generic strategies identified by Porter.

Accepted Answer

A) Narrow market leadership 
B) High cost versus low cost 
C) Focused strategy 
D) None of these 
A) Narrow market leadership 
B) High cost versus low cost 
C) Focused strategy 
D) None of these

Question 11

There are many different stakeholders found in an organization.Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change.Which of the following is a main concern for customers?

Accepted Answer

A) Exceptional customer service 
B) Fair compensation 
C) Professional associations 
D) Reliable contracts 
A) Exceptional customer service 
B) Fair compensation 
C) Professional associations 
D) Reliable contracts

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?

Accepted Answer

A) A niche market. 
B) A broad market. 
C) Neither niche nor broad markets. 
D) Both niche and broad markets. 
A) A niche market. 
B) A broad market. 
C) Neither niche nor broad markets. 
D) Both niche and broad markets.

Question 14

What does a SWOT analysis do?

Accepted Answer

A) Evaluates an organizations strengths, weaknesses, objectives, and threats. 
B) Evaluates an organization's strengths, weaknesses, opportunities, and threats. 
C) Evaluates an organization's supporters, weaknesses, opportunities, and technology. 
D) Evaluates an organization's systems, warehouses, outputs, and technology. 
A) Evaluates an organizations strengths, weaknesses, objectives, and threats. 
B) Evaluates an organization's strengths, weaknesses, opportunities, and threats. 
C) Evaluates an organization's supporters, weaknesses, opportunities, and technology. 
D) Evaluates an organization's systems, warehouses, outputs, and technology.

Question 15

What are Porter's three generic strategies?

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 16

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

Accepted Answer

A) True 
 B)False

Question 17

In a SWOT analysis, potential external threats are harmful when they identify all threats or risks detrimental to your organization, including new market entrants, substitute products, employee turnover, differentiating products, shrinking markets, adverse changes in regulations, economic shifts, and so on.

Accepted Answer

A) True 
 B)False

Question 18

Kevin Campbell is an incoming freshman at your college.Kevin 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, Kevin begins a Facebook group finding other college students who need to purchase laptops.Soon, Kevin's Facebook group has close to 100,000 students.Kevin decides to collectively approach different computer companies to see if his group qualifies for a special discount.What business strategy is Kevin 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 19

What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?

Accepted Answer

A) Significant barrier 
B) Entry barrier 
C) Product differentiation 
D) Entry chain 
A) Significant barrier 
B) Entry barrier 
C) Product differentiation 
D) Entry chain

Question 20

MIS can add value to both primary activities and support activities in the value chain.Which of the following is not an example of a company adding value by the use of MIS in a primary activity?

Accepted Answer

A) Scottrade Corp.creating an online system for employees to track paychecks, benefits, wellness rewards program, and other employee benefit items. 
B) A system for the sales and marketing departments to track specific sales targets and follow up processes. 
C) An easy electronic survey, similar to the survey monkey, to be sent to the customer right after a service was completed. 
D) Royal Crest Dairy using their custom order and delivery system through an easily accessible Web portal for the customer to track delivery status. 
A) Scottrade Corp.creating an online system for employees to track paychecks, benefits, wellness rewards program, and other employee benefit items. 
B) A system for the sales and marketing departments to track specific sales targets and follow up processes. 
C) An easy electronic survey, similar to the survey monkey, to be sent to the customer right after a service was completed. 
D) Royal Crest Dairy using their custom order and delivery system through an easily accessible Web portal for the customer to track delivery status.

Exam 2: Identifying Competitive Advantages

What is rivalry among existing competitors?

There are many different stakeholders found in an organization.Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change.Which of the following is a main concern for the community?

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

What includes all parties involved, directly or indirectly, in obtaining raw materials or a product?

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

Which of the following is similar to focused strategy versus broad strategy?

What is supplier power?

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

Which strategy below helps an organization choose its business focus?

Broad differentiation, broad cost leadership, and _________ create the three generic strategies identified by Porter.

There are many different stakeholders found in an organization.Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change.Which of the following is a main concern for customers?

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

When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?

What does a SWOT analysis do?

What are Porter's three generic strategies?

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

What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?

MIS can add value to both primary activities and support activities in the value chain.Which of the following is not an example of a company adding value by the use of MIS in a primary activity?

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 Information Databases

Accessing Organizational Information Data Warehouses

Understanding Big Data and Its Impact on Business

Enabling the Organization Decision Making

Extending the Organization Supply Chain Management

Building a Customer-Centric Organization Customer Relationship Management

Integrating the Organization From End to End Enterprise Resource Planning

Creating Innovative Organizations

E-business

Creating Collaborative Partnerships

Integrating Wireless Technology in Business

Developing Software to Streamline Operations

Methodologies for Supporting Agile Organizations

Managing Organizational Projects

B: Extension: A Business Basics

B: Extension: A Business Process

B: Extension: A Hardware and Software Basics

B: Extension: A Mis Infrastructures

B: Extension: A Networks and Telecommunications

B: Extension: A Information Security

B: Extension: A Ethics

B: Extension: A Operations Management

B: Extension: A Sustainable Mis Infrastructures

B: Extension: A Business Intelligence

B: Extension: A Global Information Systems

B: Extension: A Global Trends

Filters