Question 1

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

Accepted Answer

A) A dog walking business. 
B) A ski resort. 
C) A professional hockey team. 
D) All of these. 
A) A dog walking business. 
B) A ski resort. 
C) A professional hockey team. 
D) All of these.

Question 2

Where would you categorize opportunities in a SWOT analysis?

Accepted Answer

A) Internal, helpful 
B) Internal, harmful 
C) External, helpful 
D) External, harmful 
A) Internal, helpful 
B) Internal, harmful 
C) External, helpful 
D) External, harmful

Question 3

What is one of the most common ways a company can decrease supplier power?

Accepted Answer

A) Charge lower prices. 
B) Charge higher prices. 
C) Use MIS to find and create alternative products. 
D) Companies cannot impact supplier power. 
A) Charge lower prices. 
B) Charge higher prices. 
C) Use MIS to find and create alternative products. 
D) Companies cannot impact supplier power.

Question 4

Which of the following represents a company in a supply chain?

Accepted Answer

A) Customer and competitor. 
B) Supplier and competitor. 
C) Knowledge worker and supplier. 
D) Supplier and customer. 
A) Customer and competitor. 
B) Supplier and competitor. 
C) Knowledge worker and supplier. 
D) Supplier and customer.

Question 5

What is a person or group that has an interest or concern in an organization?

Accepted Answer

A) Stakeholder 
B) Business strategy 
C) Supplier 
D) Partner 
A) Stakeholder 
B) Business strategy 
C) Supplier 
D) Partner

Question 6

Attracting new customers, decreasing costs, and entering new markets are all examples of successful business strategies.

Accepted Answer

A) True 
 B)False

Question 7

Buyer power is the ability of buyers to affect the price they must pay for an item.

Accepted Answer

A) True 
 B)False

Question 8

When a company is the first to market with a competitive advantage, it gains a particular benefit known as competitive intelligence.

Accepted Answer

A) True 
 B)False

Question 9

Explain why competitive advantages are temporary.

Accepted Answer

A competitive advantage is a feature of

Question 10

In a SWOT analysis, potential internal strengths are helpful when they identify all key strengths associated with the competitive advantage including cost advantages, new and/or innovative services, special expertise and/or experience, proven market leader, improved marketing campaigns, and so on.

Accepted Answer

A) True 
 B)False

Question 11

Supplier power is one of Porter's five forces and it measures the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services).

Accepted Answer

A) True 
 B)False

Question 12

Where would you categorize strengths in a SWOT analysis?

Accepted Answer

A) Internal, helpful 
B) Internal, harmful 
C) External, helpful 
D) External, harmful 
A) Internal, helpful 
B) Internal, harmful 
C) External, helpful 
D) External, harmful

Question 13

With the Five Forces Model, companies should watch the forces in the market.If the forces are strong, competition generally increases, and if the forces are weak, competition typically decreases.

Accepted Answer

A) True 
 B)False

Question 14

In a SWOT analysis, strengths and weaknesses originate __________ an organization.

Accepted Answer

A) Inside (internally) 
B) Outside (externally) 
C) Both A and B 
D) None of these 
A) Inside (internally) 
B) Outside (externally) 
C) Both A and B 
D) None of these

Question 15

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

Accepted Answer

A) Walmart 
B) Tiffany & Co. 
C) Neiman Marcus 
D) Payless Shoes 
A) Walmart 
B) Tiffany & Co. 
C) Neiman Marcus 
D) Payless Shoes

Question 16

Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents a threat of a new entrant 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, 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, coffee are all beverage options available to consumers.

Question 17

Which of the following is not a typical way that a company would duplicate a competitive advantage?

Accepted Answer

A) Acquiring the new technology. 
B) Copying the business operations. 
C) Hiring away key employees. 
D) Carrying large product inventories. 
A) Acquiring the new technology. 
B) Copying the business operations. 
C) Hiring away key employees. 
D) Carrying large product inventories.

Question 18

In a SWOT analysis, opportunities and threats originate __________ an organization.

Accepted Answer

A) Inside (internally) 
B) Outside (externally) 
C) Both A and B 
D) None of these 
A) Inside (internally) 
B) Outside (externally) 
C) Both A and B 
D) None of these

Question 19

What evaluates industry attractiveness?

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 20

Which of the following are included as potential internal strengths 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.

Exam 2: Identifying Competitive Advantages

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

Where would you categorize opportunities in a SWOT analysis?

What is one of the most common ways a company can decrease supplier power?

Which of the following represents a company in a supply chain?

What is a person or group that has an interest or concern in an organization?

Attracting new customers, decreasing costs, and entering new markets are all examples of successful business strategies.

Buyer power is the ability of buyers to affect the price they must pay for an item.

When a company is the first to market with a competitive advantage, it gains a particular benefit known as competitive intelligence.

Explain why competitive advantages are temporary.

In a SWOT analysis, potential internal strengths are helpful when they identify all key strengths associated with the competitive advantage including cost advantages, new and/or innovative services, special expertise and/or experience, proven market leader, improved marketing campaigns, and so on.

Supplier power is one of Porter's five forces and it measures the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services).

Where would you categorize strengths in a SWOT analysis?

With the Five Forces Model, companies should watch the forces in the market.If the forces are strong, competition generally increases, and if the forces are weak, competition typically decreases.

In a SWOT analysis, strengths and weaknesses originate __________ an organization.

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

Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents a threat of a new entrant in the soft drink industry?

Which of the following is not a typical way that a company would duplicate a competitive advantage?

In a SWOT analysis, opportunities and threats originate __________ an organization.

What evaluates industry attractiveness?

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

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

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