Question 1

In a SWOT analysis, which of the following could you discover as potential internal strengths (helpful)?

Accepted Answer

A) Cost advantages 
B) Damaged reputation 
C) New markets 
D) Competitor issues 
A) Cost advantages 
B) Damaged reputation 
C) New markets 
D) Competitor issues

Question 2

A SWOT analysis evaluates an organization's strengths, worries, opportunities, and technologies to identify significant influences that work for or against business strategies.

Accepted Answer

A) True 
 B)False

Question 3

According to Porter it is recommended to adopt only one of the three generic strategies.

Accepted Answer

A) True 
 B)False

Question 4

When applying Porter's three generic strategies, Tiffany & Co.has a competitive scope and cost strategy that is __________.

Accepted Answer

A) Broad market - high cost strategy 
B) Narrow market - low cost strategy 
C) Narrow market - high cost strategy 
D) Broad market - low cost strategy 
A) Broad market - high cost strategy 
B) Narrow market - low cost strategy 
C) Narrow market - high cost strategy 
D) Broad market - low cost strategy

Question 5

What is included in a SWOT analysis?

Accepted Answer

A) Strengths, weaknesses, organizations, and technology. 
B) Strengths, weaknesses, opportunities, and threats. 
C) Success, willingness, opportunities, and technology. 
D) Success, weaknesses, organizations, and threats. 
A) Strengths, weaknesses, organizations, and technology. 
B) Strengths, weaknesses, opportunities, and threats. 
C) Success, willingness, opportunities, and technology. 
D) Success, weaknesses, organizations, and threats.

Question 6

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 7

Where would you categorize threats 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 8

What is Porter's Five Forces Model?

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 9

What is threat of new entrants?

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 10

Which of the following are included as potential external weaknesses in a SWOT analysis that are harmful 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

Managers use four common tools to analyze competitive intelligence and develop competitive advantages.Which of the following is not one of these tools?

Accepted Answer

A) The three generic strategies. 
B) The Five Forces Model. 
C) First-mover advantage. 
D) SWOT analysis. 
A) The three generic strategies. 
B) The Five Forces Model. 
C) First-mover advantage. 
D) SWOT analysis.

Question 12

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.

Question 13

Primary value activities are standardized activities that accomplish a specific task, such as processing a customer's order.

Accepted Answer

A) True 
 B)False

Question 14

When analyzing the book store industry, some of today's businesses compete with different business strategies and cost strategies.Which of the following is using a broad market competitive scope along with a low cost strategy?

Accepted Answer

A) Amazon.com. 
B) Any local independent book store that specializes in antique books. 
C) Barnes & Noble. 
D) Borders books. 
A) Amazon.com. 
B) Any local independent book store that specializes in antique books. 
C) Barnes & Noble. 
D) Borders books.

Question 15

A __________ features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Accepted Answer

A) Competitive advantage 
B) Competitor advantage 
C) Power advantage 
D) First mover advantage 
A) Competitive advantage 
B) Competitor advantage 
C) Power advantage 
D) First mover advantage

Question 16

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

Accepted Answer

A) An international hotel chain purchasing milk. 
B) A coffee shop. 
C) A single consumer purchasing milk. 
D) A dog walking business. 
A) An international hotel chain purchasing milk. 
B) A coffee shop. 
C) A single consumer purchasing milk. 
D) A dog walking business.

Question 17

Which of the following represents procurement as part of the support value activities in a value chain analysis?

Accepted Answer

A) Purchases inputs such as raw materials, resources, equipment, and supplies. 
B) Applies MIS to processes to add value. 
C) Distributes goods and services to customers. 
D) Promotes, prices, and sells products to customers. 
A) Purchases inputs such as raw materials, resources, equipment, and supplies. 
B) Applies MIS to processes to add value. 
C) Distributes goods and services to customers. 
D) Promotes, prices, and sells products to customers.

Question 18

The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers.Victory Wireless offers customers who purchase an iPhone with a two-year subscription a free Otter phone case, car charger, ear phones, and speakers.In terms of Porter's Five Forces what is Victory Wireless attempting to achieve with this marketing strategy?

Accepted Answer

A) Increase buyer power 
B) Increase substitute products 
C) Decrease supplier power 
D) Decrease buyer power 
A) Increase buyer power 
B) Increase substitute products 
C) Decrease supplier power 
D) Decrease buyer power

Question 19

A SWOT analysis evaluates an organization's strengths, weaknesses, objectives, and threats.

Accepted Answer

A) True 
 B)False

Question 20

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies.Which of the following companies are using a differentiation strategy?

Accepted Answer

A) Southwest, Horizon, Frontier, JetBlue. 
B) British Airways, Singapore Airlines, Virgin Atlantic. 
C) Sky Taxi - a rent by the hour personal plane service. 
D) All of these. 
A) Southwest, Horizon, Frontier, JetBlue. 
B) British Airways, Singapore Airlines, Virgin Atlantic. 
C) Sky Taxi - a rent by the hour personal plane service. 
D) All of these.

Exam 2: Identifying Competitive Advantages

In a SWOT analysis, which of the following could you discover as potential internal strengths (helpful)?

A SWOT analysis evaluates an organization's strengths, worries, opportunities, and technologies to identify significant influences that work for or against business strategies.

According to Porter it is recommended to adopt only one of the three generic strategies.

When applying Porter's three generic strategies, Tiffany & Co.has a competitive scope and cost strategy that is __________.

What is included in a SWOT analysis?

What is a value chain analysis?

Where would you categorize threats in a SWOT analysis?

What is Porter's Five Forces Model?

What is threat of new entrants?

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

Managers use four common tools to analyze competitive intelligence and develop competitive advantages.Which of the following is not one of these tools?

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?

Primary value activities are standardized activities that accomplish a specific task, such as processing a customer's order.

When analyzing the book store industry, some of today's businesses compete with different business strategies and cost strategies.Which of the following is using a broad market competitive scope along with a low cost strategy?

A __________ features a product or service on which customers place a greater value than they do on similar offerings from competitors.

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

Which of the following represents procurement as part of the support value activities in a value chain analysis?

A SWOT analysis evaluates an organization's strengths, weaknesses, objectives, and threats.

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies.Which of the following companies are using a differentiation strategy?

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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