Question 1

If a business is following a focused strategy,its competitive scope is _______.

Accepted Answer

A)  Broad market 
B)  Narrow market 
C)  Broad range products 
D)  Broad range of services

Question 2

According to Porter,companies that wish to dominate broad markets should operate using a ________ strategy.

Accepted Answer

A)  Cost leadership with a low cost 
B)  Differentiation with a low cost 
C)  Cost leadership with a high cost 
D)  All the answers are correct

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.

Question 4

Which of the following is not considered a category within the primary value activities in a value chain analysis?

Accepted Answer

A)  Inbound logistics. 
B)  Firm infrastructure. 
C)  Operations. 
D)  Service.

Question 5

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 6

Tiffany & Company competes in the marketplace by offering high cost custom jewellery.Tiffany & Company is following a broad market and cost leadership strategy.

Accepted Answer

A) True 
 B)False

Question 7

A system is a collection of parts that link together to __________.

Accepted Answer

A)  Monitor the company 
B)  Gather experience 
C)  Achieve a common purpose 
D)  Implement solutions

Question 8

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.

Question 9

Technology provides countless business opportunities,but can also lead to pitfalls and traps for a business.

Accepted Answer

A) True 
 B)False

Question 10

Updating business strategies is a continuous undertaking as internal and external environments _______.

Accepted Answer

A)  Become less competitive 
B)  Remain stagnant 
C)  Rapidly change 
D)  Become more consistent

Question 11

Cheryl Steffan is the operations manager for Nature's Bread Company,which specialises in providing natural products for health conscious individuals.Cheryl is responsible for compiling,analysing and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day.Which of the following is an example of a piece of data Cheryl would be using to successfully perform her job?

Accepted Answer

A)  Craig Newmark is customer number 15467. 
B)  Compare the costs of supplies including energy over the last five years to determine the best-selling product by month. 
C)  Best-selling product by day. 
D)  Best-selling product changes when Tony the best baker is working.

Question 12

Successful companies today operate cross-functionally,integrating the operations of all departments.

Accepted Answer

A) True 
 B)False

Exam 1: Competing in the Information Age

If a business is following a focused strategy,its competitive scope is _______.

According to Porter,companies that wish to dominate broad markets should operate using a ________ strategy.

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

Which of the following is not considered a category within the primary value activities in a value chain 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.

Tiffany & Company competes in the marketplace by offering high cost custom jewellery.Tiffany & Company is following a broad market and cost leadership strategy.

A system is a collection of parts that link together to __________.

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

Technology provides countless business opportunities,but can also lead to pitfalls and traps for a business.

Updating business strategies is a continuous undertaking as internal and external environments _______.

Successful companies today operate cross-functionally,integrating the operations of all departments.