Question 1

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.E) B) and D)
F) B) and C)

Question 2

Which of the following demonstrates a company that has implemented a low-cost,broad-market strategy?

Accepted Answer

A)   Neiman Marcus.
B)   Payless Shoes.
C)   The Sharper Image.
D)   Walmart.E) B) and C)
F) A) and B)

Question 3

A __________ chain analysis views a firm as a series of business processes that each adds value to the product or service.

Accepted Answer

The answer of A __________ chain analysis views a firm...

Question 4

According to Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?

Accepted Answer

A)   A niche market.
B)   A broad market.
C)   Neither niche or broad markets.
D)   Both niche and broad markets.E) None of the above
F) A) and B)

Question 5

In the bookstore 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 bookstore that specializes in antique books.
C)   Barnes & Noble.
D)   Borders Books.E) A) and D)
F) B) and C)

Question 6

Rivalry among existing competitors is __________ when competition is fierce in a market and low when competitors are more complacent.

Accepted Answer

The answer of Rivalry among existing competitors is __________ when...

Question 7

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.E) B) and C)
F) A) and B)

Question 8

Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod,iPhone,and iPad.What are these all examples of?

Accepted Answer

A)   Competitive advantage
B)   Competitive intelligence
C)   First-mover advantage
D)   All of theseE) C) and D)
F) None of the above

Question 9

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, and coffee.E) A) and B)
F) A) and C)

Question 10

__________ value activities are found at the bottom of the value chain.These include business processes that acquire raw materials and manufacture,deliver,market,sell,and provide after-sales services.

Accepted Answer

The answer of __________ value activities are found at the...

Question 11

Which of the following decisions does a firm need to make as soon as it has identified the activities from the value chain that are bringing the highest added value to their customers?

Accepted Answer

A)   Target high value-adding activities to further enhance their value.
B)   Target low value-adding activities to increase their value.
C)   Perform some combination of the two.
D)   All of these.E) None of the above
F) A) and C)

Question 12

John Cleaver is the CEO of Tech World,which is a retail store that sells computers,monitors,cameras,televisions,and many other electronic products.John and his executive team are meeting to brainstorm new ideas on how to grow the business.One idea is to mimic the product of a competitor that is attempting to sell a new product in a different industry.After performing a Porter's Five-Forces analysis,John determines that all of the forces are high in this new industry.What should John do?

Accepted Answer

A)   Explode into the market with an overflow of the product.
B)   Contemplate other products to introduce at the same time in this new market.
C)   Compare the competitor's prices and offer his product lower in this new market.
D)   Not introduce the product. Because all five forces are strong, introducing the product would be a highly risky business strategy.E) B) and D)
F) None of the above

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

Broad differentiation,broad cost leadership,and _________ are the three generic strategies identified by Porter.

Accepted Answer

A)   Narrow market leadership
B)   High cost versus low cost
C)   Focused strategy
D)   None of theseE) B) and D)
F) All of the above

Question 15

What is a standardized set of activities that accomplishes a specific task?

Accepted Answer

A)   Business strategy.
B)   Business outcome.
C)   Business process.
D)   Knowledge process.E) All of the above
F) C) and D)

Question 16

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, and Universal.
B)   Walmart, Target, and iTunes.
C)   Independent record labels.
D)   Game systems like Wii and social networks like Facebook.E) None of the above
F) B) and C)

Exam 2: Identifying Competitive Advantages

__________ value activities are found at the bottom of the value chain.These include business processes that acquire raw materials and manufacture,deliver,market,sell,and provide after-sales services.

Correct Answer
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In the bookstore 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?

Correct Answer
verified

A __________ chain analysis views a firm as a series of business processes that each adds value to the product or service.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Broad differentiation,broad cost leadership,and _________ are the three generic strategies identified by Porter.

Correct Answer
verified

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?

Correct Answer
verified

Which of the following demonstrates a company that has implemented a low-cost,broad-market strategy?

Correct Answer
verified

Correct Answer
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According to Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?

Correct Answer
verified

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?

Correct Answer
verified

What is a standardized set of activities that accomplishes a specific task?

Correct Answer
verified

Which of the following decisions does a firm need to make as soon as it has identified the activities from the value chain that are bringing the highest added value to their customers?

Correct Answer
verified

Rivalry among existing competitors is __________ when competition is fierce in a market and low when competitors are more complacent.

Correct Answer
verified

Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod,iPhone,and iPad.What are these all examples of?

Correct Answer
verified

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?

Correct Answer
verified

Exam 2: Identifying Competitive Advantages

__________ value activities are found at the bottom of the value chain.These include business processes that acquire raw materials and manufacture,deliver,market,sell,and provide after-sales services.

Correct AnswerverifiedShow Answer

In the bookstore 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?

Correct AnswerverifiedShow Answer

A __________ chain analysis views a firm as a series of business processes that each adds value to the product or service.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Broad differentiation,broad cost leadership,and _________ are the three generic strategies identified by Porter.

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Which of the following demonstrates a company that has implemented a low-cost,broad-market strategy?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

According to Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

What is a standardized set of activities that accomplishes a specific task?

Correct AnswerverifiedShow Answer

Which of the following decisions does a firm need to make as soon as it has identified the activities from the value chain that are bringing the highest added value to their customers?

Correct AnswerverifiedShow Answer

Rivalry among existing competitors is __________ when competition is fierce in a market and low when competitors are more complacent.

Correct AnswerverifiedShow Answer

Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod,iPhone,and iPad.What are these all examples of?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Correct Answer
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