Question 1

Two ways to reduce buyer power are through switching costs and loyalty programs.

Accepted Answer

A) True 
 B)False

Question 2

MIS can add value to both primary activities and support activities in the value chain.Which of the following is not an example of a company adding value by using MIS in a primary activity?

Accepted Answer

A)   Scottrade Corp. creating an online system for employees to track paychecks, benefits, the wellness-rewards program, and other employee benefit items.
B)   A system for the sales and marketing departments to track specific sales targets and follow-up processes.
C)   An easy electronic survey to be sent to the customer right after a service is completed.
D)   Royal Crest Dairy placing their order and delivery system on an easily accessible Web portal so customers can track delivery status.E) B) and C)
F) None of the above

Question 3

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

Accepted Answer

A)   Broad differentiation.
B)   Supplier cost differentiation.
C)   Focused strategy.
D)   Broad cost leadership.E) A) and D)
F) A) and C)

Question 4

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) All of the above
F) A) and D)

Question 5

When a company is the first to market with a competitive advantage,it gains a particular benefit known as competitive intelligence.

Accepted Answer

A) True 
 B)False

Question 6

What is the support value activity that hires employees and provides them with training and compensation?

Accepted Answer

A)   Procurement.
B)   Operations resource management.
C)   Human resource management.
D)   Firm infrastructure.E) A) and C)
F) B) and D)

Question 7

Describe Porter's Five Forces Model and explain each of the five forces.

Accepted Answer

Porter's Five Forces Model analyzes the ...

Question 8

Competitive intelligence is the process of gathering information about the competitive environment,including _________.

Accepted Answer

A)   competitors' employees
B)   competitors' differentiated processes
C)   competitors' plans
D)   All of theseE) C) and D)
F) None of the above

Question 9

Your boss,Tom Repicci,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, and JetBlue.
B)   British Airways, Singapore Airlines, and Virgin Atlantic.
C)   Sky Taxi, a rent-by-the-hour personal plane service.
D)   All of these.E) B) and C)
F) A) and D)

Question 10

Sandy Fiero works as the Chief Knowledge Officer for Bend Lumbar Company.She has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue.Sandy determines that the best value she can add is by creating a service that offers free next-day shipping on any order over $50.Where in the value chain is Sandy adding value?

Accepted Answer

A)   The primary value activity outbound logistics.
B)   The primary value activity inbound logistics.
C)   The primary value activity marketing and sales.
D)   The primary value activity operations.E) A) and D)
F) C) and D)

Question 11

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

Accepted Answer

A)   The three generic strategies
B)   The threat of substitute buyer power
C)   Differentiated costs
D)   Supplier loyaltyE) C) and D)
F) B) and D)

Question 12

Supplier power is one of Porter's five forces,and it measures the suppliers' ability to influence the prices they charge for supplies (including materials,labor,and services).

Accepted Answer

A) True 
 B)False

Question 13

Buyer power is the ability of buyers to affect the price they must pay for an item.

Accepted Answer

A) True 
 B)False

Question 14

Explain why competitive advantages are temporary.

Accepted Answer

A competitive advantage is a feature of ...

Question 15

According to Porter's value chain analysis,which of the following provides customer support after the sale of goods and services?

Accepted Answer

A)   Inbound logistics.
B)   Outbound logistics.
C)   Operations.
D)   Service.E) B) and C)
F) A) and D)

Question 16

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces Model.Which of the following represents buyer power 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) C) and D)

Question 17

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) None of the above
F) A) and B)

Question 18

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

Question 19

Which of the following is similar to focused strategy versus broad strategy?

Accepted Answer

A)   Large market versus leadership.
B)   Large market versus uniqueness.
C)   Niche market versus large market.
D)   Niche market versus generic.E) C) and D)
F) B) and C)

Question 20

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

Exam 2: Identifying Competitive Advantages

Describe Porter's Five Forces Model and explain each of the five forces.

Correct Answer
verified
Porter's Five Forces Model analyzes the ...
View Answer

Your boss,Tom Repicci,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

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

Correct Answer
verified

MIS can add value to both primary activities and support activities in the value chain.Which of the following is not an example of a company adding value by using MIS in a primary activity?

Correct Answer
verified

What is the support value activity that hires employees and provides them with training and compensation?

Correct Answer
verified

Correct Answer
verified

Buyer power is the ability of buyers to affect the price they must pay for an item.

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

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

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

Correct Answer
verified

According to Porter's value chain analysis,which of the following provides customer support after the sale of goods and services?

Correct Answer
verified

Competitive intelligence is the process of gathering information about the competitive environment,including _________.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Which of the following is similar to focused strategy versus broad strategy?

Correct Answer
verified

Supplier power is one of Porter's five forces,and it measures the suppliers' ability to influence the prices they charge for supplies (including materials,labor,and services).

Correct Answer
verified

When a company is the first to market with a competitive advantage,it gains a particular benefit known as competitive intelligence.

Correct Answer
verified

Explain why competitive advantages are temporary.

Correct Answer
verified
A competitive advantage is a feature of ...
View Answer

Two ways to reduce buyer power are through switching costs and loyalty programs.

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 buyer power in the soft drink industry?

Correct Answer
verified

Exam 2: Identifying Competitive Advantages

Describe Porter's Five Forces Model and explain each of the five forces.

Correct AnswerverifiedPorter's Five Forces Model analyzes the ...View AnswerShow Answer

Your boss,Tom Repicci,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

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

Correct AnswerverifiedShow Answer

MIS can add value to both primary activities and support activities in the value chain.Which of the following is not an example of a company adding value by using MIS in a primary activity?

Correct AnswerverifiedShow Answer

What is the support value activity that hires employees and provides them with training and compensation?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Buyer power is the ability of buyers to affect the price they must pay for an item.

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

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

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

Correct AnswerverifiedShow Answer

According to Porter's value chain analysis,which of the following provides customer support after the sale of goods and services?

Correct AnswerverifiedShow Answer

Competitive intelligence is the process of gathering information about the competitive environment,including _________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is similar to focused strategy versus broad strategy?

Correct AnswerverifiedShow Answer

Supplier power is one of Porter's five forces,and it measures the suppliers' ability to influence the prices they charge for supplies (including materials,labor,and services).

Correct AnswerverifiedShow Answer

When a company is the first to market with a competitive advantage,it gains a particular benefit known as competitive intelligence.

Correct AnswerverifiedShow Answer

Explain why competitive advantages are temporary.

Correct AnswerverifiedA competitive advantage is a feature of ...View AnswerShow Answer

Two ways to reduce buyer power are through switching costs and loyalty programs.

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 buyer power in the soft drink industry?

Correct AnswerverifiedShow Answer

Correct Answer
verified
Porter's Five Forces Model analyzes the ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
A competitive advantage is a feature of ...
View Answer

Correct Answer
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Correct Answer
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