Question 1

Where would you categorize weaknesses 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 2

Which group of stakeholders' primary interests include maximizing profits, growing market share, and high return on investment?

Accepted Answer

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

Question 3

What is threat of substitute products or services?

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 4

There are many different stakeholders found in an organization with common business interests.Depending on the stakeholder's perspective, the business strategy can change.Which of the following is not a main concern for shareholders/investors?

Accepted Answer

A) Maximize profits 
B) Grow market share 
C) Job security 
D) High return on investment 
A) Maximize profits 
B) Grow market share 
C) Job security 
D) High return on investment

Question 5

Identifying competitive advantages can be difficult, which explains why most competitive advantages are typically

Accepted Answer

A) temporary. 
B) satisfactory. 
C) terminated. 
D) unsuccessful. 
A) temporary. 
B) satisfactory. 
C) terminated. 
D) unsuccessful.

Question 6

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 substitute product 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 7

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 focused 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.

Question 8

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 employees?

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 9

Which of the following represents a typical supply chain?

Accepted Answer

A) Company - Customers - Suppliers 
B) Company - Suppliers - Customers 
C) Suppliers - Company - Customers 
D) Suppliers - Customers - Company 
A) Company - Customers - Suppliers 
B) Company - Suppliers - Customers 
C) Suppliers - Company - Customers 
D) Suppliers - Customers - Company

Question 10

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 11

Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?

Accepted Answer

A) Product analysis 
B) Primary supplier power 
C) Value chain analysis 
D) Buyer chain analysis 
A) Product analysis 
B) Primary supplier power 
C) Value chain analysis 
D) Buyer chain analysis

Question 12

In the center of Porter's Five Forces model is competition.Which of the following represents the four outer boxes?

Accepted Answer

A) Buyer power, systems power, threat of false entrants, and threat of substitute products or services 
B) Buyer power, systems power, threat of new entrants, and threat of substitute products or services 
C) Buyer power, supplier power, threat of new entrants, and threat of substitute products or services 
D) Business power, supplier power, threat of new entrants, and threat of powerful services 
A) Buyer power, systems power, threat of false entrants, and threat of substitute products or services 
B) Buyer power, systems power, threat of new entrants, and threat of substitute products or services 
C) Buyer power, supplier power, threat of new entrants, and threat of substitute products or services 
D) Business power, supplier power, threat of new entrants, and threat of powerful services

Question 13

A leadership plan that achieves a specific set of goals or objectives is a business strategy.

Accepted Answer

A) True 
 B)False

Question 14

Which one of Porter's five forces is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market?

Accepted Answer

A) Threat of new entrants. 
B) Threat of substitute products or services. 
C) Threat of buyer power. 
D) Supply chain competition. 
A) Threat of new entrants. 
B) Threat of substitute products or services. 
C) Threat of buyer power. 
D) Supply chain competition.

Question 15

Polaroid had a unique competitive advantage for many years until it forgot to observe competitive intelligence.The firm went bankrupt when people began taking digital pictures.Polaroid provides a great example of Porter's supplier power.

Accepted Answer

A) True 
 B)False

Question 16

How can a company reduce the threat of substitute products or services?

Accepted Answer

A) Market the product to less than 10 customers. 
B) Ignore competitive forces. 
C) Offer additional value through wider product distribution. 
D) Offer less value making the product far more generic and similar to the competition. 
A) Market the product to less than 10 customers. 
B) Ignore competitive forces. 
C) Offer additional value through wider product distribution. 
D) Offer less value making the product far more generic and similar to the competition.

Question 17

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________________.

Accepted Answer

A) Focused strategy, product differentiation 
B) Focused strategy, cost advantage 
C) Cost advantage, primary value activities 
D) Cost advantage, product differentiation 
A) Focused strategy, product differentiation 
B) Focused strategy, cost advantage 
C) Cost advantage, primary value activities 
D) Cost advantage, product differentiation

Question 18

What are the two main categories in a value chain analysis?

Accepted Answer

A) Primary value activities and secondary value activities. 
B) Primary value activities and support value activities. 
C) Primary value activities and strengthening value activities. 
D) None of these. 
A) Primary value activities and secondary value activities. 
B) Primary value activities and support value activities. 
C) Primary value activities and strengthening value activities. 
D) None of these.

Question 19

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

Accepted Answer

A) Established record labels like EMI, Sony, Universal. 
B) Walmart, Target, iTunes. 
C) Game systems like Wii, social networks like Facebook. 
D) Taylor Swift, Beyoncé, The Beatles, The Stones. 
A) Established record labels like EMI, Sony, Universal. 
B) Walmart, Target, iTunes. 
C) Game systems like Wii, social networks like Facebook. 
D) Taylor Swift, Beyoncé, The Beatles, The Stones.

Question 20

In a SWOT analysis, strengths and weaknesses originate inside an organization, or internally.Opportunities and threats originate outside an organization, or externally, and cannot always be anticipated or controlled.

Accepted Answer

A) True 
 B)False

Exam 2: Identifying Competitive Advantages

Where would you categorize weaknesses in a SWOT analysis?

Which group of stakeholders' primary interests include maximizing profits, growing market share, and high return on investment?

What is threat of substitute products or services?

There are many different stakeholders found in an organization with common business interests.Depending on the stakeholder's perspective, the business strategy can change.Which of the following is not a main concern for shareholders/investors?

Identifying competitive advantages can be difficult, which explains why most competitive advantages are typically

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 substitute product in the soft drink industry?

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 focused strategy?

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 employees?

Which of the following represents a typical supply chain?

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

Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?

In the center of Porter's Five Forces model is competition.Which of the following represents the four outer boxes?

A leadership plan that achieves a specific set of goals or objectives is a business strategy.

Which one of Porter's five forces is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market?

Polaroid had a unique competitive advantage for many years until it forgot to observe competitive intelligence.The firm went bankrupt when people began taking digital pictures.Polaroid provides a great example of Porter's supplier power.

How can a company reduce the threat of substitute products or services?

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________________.

What are the two main categories in a value chain analysis?

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

In a SWOT analysis, strengths and weaknesses originate inside an organization, or internally.Opportunities and threats originate outside an organization, or externally, and cannot always be anticipated or controlled.

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

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a or ________.