Question 1

Direct outputs can include widely recognized items, such as raw materials, fixed assets, and financial support.

Accepted Answer

A) True 
 B)False

Question 2

Porter's Five Forces model is based on:

Accepted Answer

A)  industrial organization economics. 
B)  labor and demographic economics. 
C)  business administration and business economics. 
D)  environmental and ecological economics.

Question 3

Which of the following provides some aspect of the product that differs from that of the firm's competitors, such that customers will pay a premium for the product?

Accepted Answer

A)  A differentiation strategy 
B)  A low-cost strategy 
C)  A focused strategy 
D)  A best-cost strategy

Question 4

Products that sell well with another product are called:

Accepted Answer

A)  rivalrous goods. 
B)  substitute products. 
C)  complementors. 
D)  nonrival goods.

Question 5

A global positioning strategy is common with many consumer products firms, particularly those in food and beverage, which must customize their products to local tastes.

Accepted Answer

A) True 
 B)False

Question 6

Accounting is not only concerned with maintaining information about the financial status of the firm, but also with providing data on how the firm is meeting its strategic objectives.

Accepted Answer

A) True 
 B)False

Question 7

What are the characteristics that determine if the power of the buyers is high?

Accepted Answer

The answer of What are the characteristics that determine if...

Question 8

Threat of substitute products is typically the force that has the greatest impact in the Five Forces model.

Accepted Answer

A) True 
 B)False

Question 9

_____ strategies are those strategies that direct what occurs in the individual operative areas

Accepted Answer

A)  Operational strategies 
B)  Functional strategies 
C)  Competitive strategies 
D)  Business-level strategies

Question 10

Which of the following accounting standards is used in the U.S.?

Accepted Answer

A)  SOX 
B)  IFRS 
C)  HGB 
D)  GAAP

Question 11

The business-level strategy is how a firm will compete in a particular product-market.

Accepted Answer

A) True 
 B)False

Question 12

Vertically and horizontally integrated business groups that dominate the Japanese economy are called:

Accepted Answer

A)  keiretsu. 
B)  chaebol. 
C)  kaizen. 
D)  kanban.

Question 13

The keiretsu are the vertically and horizontally integrated business groups that dominate the Japanese economy.

Accepted Answer

A) True 
 B)False

Question 14

All of the following are the characteristics that determine if the power of the buyers is high EXCEPT:

Accepted Answer

A)  concentration of buyers. 
B)  a large number of buyers purchasing about half or more of the industry's output. 
C)  impact of goods from the industry on buyers' output. 
D)  ability to switch among different suppliers in the industry.

Question 15

In a turnkey operation, one part of the company is responsible for setting up the plant and equipment.

Accepted Answer

A) True 
 B)False

Exam 5: Business- and Functional-Level Strategy

Direct outputs can include widely recognized items, such as raw materials, fixed assets, and financial support.

Porter's Five Forces model is based on:

Which of the following provides some aspect of the product that differs from that of the firm's competitors, such that customers will pay a premium for the product?

Products that sell well with another product are called:

A global positioning strategy is common with many consumer products firms, particularly those in food and beverage, which must customize their products to local tastes.

Accounting is not only concerned with maintaining information about the financial status of the firm, but also with providing data on how the firm is meeting its strategic objectives.

What are the characteristics that determine if the power of the buyers is high?

Threat of substitute products is typically the force that has the greatest impact in the Five Forces model.

_____ strategies are those strategies that direct what occurs in the individual operative areas

Which of the following accounting standards is used in the U.S.?

The business-level strategy is how a firm will compete in a particular product-market.

Vertically and horizontally integrated business groups that dominate the Japanese economy are called:

The keiretsu are the vertically and horizontally integrated business groups that dominate the Japanese economy.

All of the following are the characteristics that determine if the power of the buyers is high EXCEPT:

In a turnkey operation, one part of the company is responsible for setting up the plant and equipment.