Question 1

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

Accepted Answer

A) Cost advantages 
B) Damaged reputation 
C) New markets 
D) Improved marketing campaigns 
A) Cost advantages 
B) Damaged reputation 
C) New markets 
D) Improved marketing campaigns

Question 2

A first-mover advantage is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.

Accepted Answer

A) True 
 B)False

Question 3

What is a SWOT 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 4

The threat of substitute products or services refers to the power of customers to purchase alternatives.

Accepted Answer

A) True 
 B)False

Question 5

Buyer power is included as one of Porter's three generic strategies.

Accepted Answer

A) True 
 B)False

Question 6

Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's five forces model.Which of the following represents buyer power in the music industry?

Accepted Answer

A) Established record labels like EMI, Sony, Universal. 
B) Walmart, Target, iTunes. 
C) Independent record labels. 
D) Game systems like Wii, social networks like Facebook. 
A) Established record labels like EMI, Sony, Universal. 
B) Walmart, Target, iTunes. 
C) Independent record labels. 
D) Game systems like Wii, social networks like Facebook.

Question 7

Which group of stakeholders' primary interests include reliable contracts, ethical materials handling, and responsible production?

Accepted Answer

A) Partners/Suppliers 
B) Shareholders/Investors 
C) Community 
D) Government 
A) Partners/Suppliers 
B) Shareholders/Investors 
C) Community 
D) Government

Question 8

A standardized set of activities that accomplish a specific task is called a supply chain component.

Accepted Answer

A) True 
 B)False

Question 9

In a SWOT analysis, which of the following could you discover as potential inner weaknesses (harmful)?

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 10

Which of the following statements is correct when considering a SWOT analysis?

Accepted Answer

A) Strengths and weaknesses originate inside an organization. 
B) Opportunities and threats originate inside an organization. 
C) Strengths and threats originate inside an organization. 
D) Opportunities and weaknesses organization outside an organization. 
A) Strengths and weaknesses originate inside an organization. 
B) Opportunities and threats originate inside an organization. 
C) Strengths and threats originate inside an organization. 
D) Opportunities and weaknesses organization outside an organization.

Question 11

Gina Brooks works for Aquarium Retail Services selling high-end salt water fish and tank supplies.Aquarium Retail Services is the current market leader in Gina's city.Gina has recently been approached by Deep Blue Incorporated with an opportunity to run its corporate nationwide marketing and sales division.Gina decides to jump at the opportunity! Deep Blue is attempting to gain a competitive ________ by stealing its competitor's key employees.

Accepted Answer

A) Power 
B) Entry barrier 
C) Advantage 
D) Loyalty 
A) Power 
B) Entry barrier 
C) Advantage 
D) Loyalty

Question 12

What are costs that make customers reluctant to switch to another product or service?

Accepted Answer

A) Support activities 
B) Switching costs 
C) Loyalty rewards 
D) Value chain activities 
A) Support activities 
B) Switching costs 
C) Loyalty rewards 
D) Value chain activities

Question 13

The value chain will group a company's activities into two categories: primary value activities and support value activities.

Accepted Answer

A) True 
 B)False

Question 14

If a supplier has high power, what can it do to influence its industry?

Accepted Answer

A) Charge higher prices. 
B) Shift costs to industry participants. 
C) Limit quality or services. 
D) All of these. 
A) Charge higher prices. 
B) Shift costs to industry participants. 
C) Limit quality or services. 
D) All of these.

Question 15

Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents rivalry 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) Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games. 
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) Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.

Question 16

The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ___________.

Accepted Answer

A) Feedback 
B) Information 
C) Competitive intelligence 
D) Data 
A) Feedback 
B) Information 
C) Competitive intelligence 
D) Data

Question 17

There are many challenges to changing doctors, including transferring medical records and losing the doctor patient relationship along with the doctor's knowledge of the patient's history.Changing doctors provides a great example of switching costs.

Accepted Answer

A) True 
 B)False

Question 18

Which group of stakeholders' primary interests include professional associations, ethical recycling, and increasing employment?

Accepted Answer

A) Employees 
B) Shareholders/Investors 
C) Community 
D) Customers 
A) Employees 
B) Shareholders/Investors 
C) Community 
D) Customers

Question 19

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 shareholders/investors?

Accepted Answer

A) Maximize profits 
B) Adhere to regulations/laws 
C) Exceptional customer service 
D) Reliable contracts 
A) Maximize profits 
B) Adhere to regulations/laws 
C) Exceptional customer service 
D) Reliable contracts

Question 20

Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents buyer power 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.

Exam 2: Identifying Competitive Advantages

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

A first-mover advantage is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.

What is a SWOT analysis?

The threat of substitute products or services refers to the power of customers to purchase alternatives.

Buyer power is included as one of Porter's three generic strategies.

Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's five forces model.Which of the following represents buyer power in the music industry?

Which group of stakeholders' primary interests include reliable contracts, ethical materials handling, and responsible production?

A standardized set of activities that accomplish a specific task is called a supply chain component.

In a SWOT analysis, which of the following could you discover as potential inner weaknesses (harmful)?

Which of the following statements is correct when considering a SWOT analysis?

What are costs that make customers reluctant to switch to another product or service?

The value chain will group a company's activities into two categories: primary value activities and support value activities.

If a supplier has high power, what can it do to influence its industry?

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

The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ___________.

There are many challenges to changing doctors, including transferring medical records and losing the doctor patient relationship along with the doctor's knowledge of the patient's history.Changing doctors provides a great example of switching costs.

Which group of stakeholders' primary interests include professional associations, ethical recycling, and increasing employment?

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 shareholders/investors?

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

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