Question 1

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 the choices are correct.E) None of the above
F) B) and D)

Question 2

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 contractsE) B) and D)
F) A) and B)

Question 3

Imagine you are creating a new product to sell in an up-and-coming market. Which of the following statements indicates that it would be difficult for you to enter this new market?

Accepted Answer

A)   The threat of new entrants' force is high in the up-and-coming market
B)   The threat of new entrants' force is low in the up-and-coming market
C)   The threat of new entrants' force is high during the summer months in the up-and-coming market
D)   All of these depending on the time of yearE) B) and C)
F) C) and D)

Question 4

MIS is a business function, like accounting or sales, which moves information about people, products, and processes across the company to facilitate decision making and problem solving. What does MIS stand for?

Accepted Answer

A)   Management Information Strategy.
B)   Management Intelligence System.
C)   Management Information System.
D)   Management Information Strategist.E) None of the above
F) A) and C)

Question 5

Which of the following offers an example where Porter's five forces are mostly strong and competition is high?

Accepted Answer

A)   A dog walking business
B)   A ski resort
C)   A professional hockey team
D)   All of theseE) B) and C)
F) All of the above

Question 6

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Accepted Answer

A) True 
 B)False

Question 7

What is a way of monitoring the entire system in a company, by viewing the multiple inputs being processed to produce outputs?

Accepted Answer

A)   Feedback thinking.
B)   Systems thinking.
C)   Output management.
D)   Operational thinking.E) A) and C)
F) B) and C)

Question 8

What are Porter's three generic strategies?

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 serviceE) All of the above
F) A) and B)

Question 9

Which of the following statements is true?

Accepted Answer

A)   MIS equals business success.
B)   MIS equals business innovation.
C)   MIS represents business success and innovation.
D)   MIS enables business success and innovation.E) None of the above
F) A) and C)

Question 10

A SWOT analysis evaluates an organization's strengths, weaknesses, objectives, and threats.

Accepted Answer

A) True 
 B)False

Question 11

What is supplier power?

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 chooseE) B) and C)
F) A) and B)

Question 12

Porter's Five Forces Model outlines the process for a sales strategy.

Accepted Answer

A) True 
 B)False

Question 13

A SWOT analysis evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.

Accepted Answer

A) True 
 B)False

Question 14

MIS is a business function. Which of the following does MIS perform to help aid the company in decision making and problem solving?

Accepted Answer

A)   Moves information about people.
B)   Moves processes across the company to improve systems.
C)   Moves information about products.
D)   All of the choices are correct.E) B) and C)
F) All of the above

Question 15

When evaluating the value chain, all of the following are included in the primary value activities except ________.

Accepted Answer

A)   Inbound activities
B)   Operations
C)   Service
D)   MIS developmentE) A) and B)
F) A) and C)

Question 16

What is productivity?

Accepted Answer

A)   Material items or products that customers will buy to satisfy a want or need
B)   Tasks performed by people that customers will buy to satisfy a want or need
C)   The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services
D)   The rate at which goods and services are produced based upon total output given total inputsE) B) and C)
F) A) and D)

Question 17

Your boss, David Ferrell, 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.E) C) and D)
F) B) and D)

Question 18

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 partners/suppliers?

Accepted Answer

A)   Exceptional customer service
B)   Fair compensation
C)   Professional associations
D)   Reliable contractsE) A) and B)
F) C) and D)

Question 19

Mindy Novak is writing a paper and he must determine which of Porter's three generic strategies Beulah's Boutiques has implemented. Mindy finds out that Beulah's Boutiques offers specialty products found only in boutiques around the world to affluent customers. What would Mindy determine Beulah's Boutiques is using as its generic strategy?

Accepted Answer

A)   Broad market, low cost
B)   Narrow market, high cost
C)   Broad market, high cost
D)   Narrow market, low costE) A) and B)
F) A) and C)

Question 20

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 the community?

Accepted Answer

A)   Exceptional customer service
B)   Fair compensation
C)   Professional associations
D)   Reliable contractsE) A) and D)
F) None of the above

Exam 2: Identifying Competitive Advantages

Porter's Five Forces Model outlines the process for a sales strategy.

Correct Answer
verified

When evaluating the value chain, all of the following are included in the primary value activities except ________.

Correct Answer
verified

What is a way of monitoring the entire system in a company, by viewing the multiple inputs being processed to produce outputs?

Correct Answer
verified

Which of the following statements is true?

Correct Answer
verified

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 partners/suppliers?

Correct Answer
verified

What are Porter's three generic strategies?

Correct Answer
verified

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?

Correct Answer
verified

A SWOT analysis evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.

Correct Answer
verified

MIS is a business function, like accounting or sales, which moves information about people, products, and processes across the company to facilitate decision making and problem solving. What does MIS stand for?

Correct Answer
verified

Correct Answer
verified

Your boss, David Ferrell, 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?

Correct Answer
verified

Which of the following offers an example where Porter's five forces are mostly strong and competition is high?

Correct Answer
verified

Imagine you are creating a new product to sell in an up-and-coming market. Which of the following statements indicates that it would be difficult for you to enter this new market?

Correct Answer
verified

What is productivity?

Correct Answer
verified

A SWOT analysis evaluates an organization's strengths, weaknesses, objectives, and threats.

Correct Answer
verified

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Correct Answer
verified

MIS is a business function. Which of the following does MIS perform to help aid the company in decision making and problem solving?

Correct Answer
verified

What is supplier power?

Correct Answer
verified

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 the community?

Correct Answer
verified

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?

Correct Answer
verified

Exam 2: Identifying Competitive Advantages

Porter's Five Forces Model outlines the process for a sales strategy.

Correct AnswerverifiedShow Answer

When evaluating the value chain, all of the following are included in the primary value activities except ________.

Correct AnswerverifiedShow Answer

What is a way of monitoring the entire system in a company, by viewing the multiple inputs being processed to produce outputs?

Correct AnswerverifiedShow Answer

Which of the following statements is true?

Correct AnswerverifiedShow Answer

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 partners/suppliers?

Correct AnswerverifiedShow Answer

What are Porter's three generic strategies?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

A SWOT analysis evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.

Correct AnswerverifiedShow Answer

MIS is a business function, like accounting or sales, which moves information about people, products, and processes across the company to facilitate decision making and problem solving. What does MIS stand for?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Your boss, David Ferrell, 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?

Correct AnswerverifiedShow Answer

Which of the following offers an example where Porter's five forces are mostly strong and competition is high?

Correct AnswerverifiedShow Answer

Imagine you are creating a new product to sell in an up-and-coming market. Which of the following statements indicates that it would be difficult for you to enter this new market?

Correct AnswerverifiedShow Answer

What is productivity?

Correct AnswerverifiedShow Answer

A SWOT analysis evaluates an organization's strengths, weaknesses, objectives, and threats.

Correct AnswerverifiedShow Answer

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Correct AnswerverifiedShow Answer

MIS is a business function. Which of the following does MIS perform to help aid the company in decision making and problem solving?

Correct AnswerverifiedShow Answer

What is supplier power?

Correct AnswerverifiedShow Answer

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 the community?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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