Question 1

Which of the following are included as potential internal weaknesses in a SWOT analysis that are harmful to an organization?

Accepted Answer

A)   Core competencies, market leaders, cost advantages, excellent management.
B)   Lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line.
C)   Expanded product line, increase in demand, new markets, new regulations.
D)   New entrants, substitute products, shrinking markets, costly regulatory requirements.E) A) and B)
F) None of the above

Question 2

Your boss, David Ferrell, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents supplier 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 are all beverage options available to consumers.E) A) and C)
F) B) and C)

Question 3

Which of the following is considered a good?

Accepted Answer

A)   Cars
B)   Groceries
C)   Clothing
D)   All of the choices are correctE) B) and D)
F) A) and B)

Question 4

Compare Porter's three generic strategies.

Accepted Answer

Organizations typically follow one of Po...

Question 5

In a SWOT analysis, potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, and competitor issues.

Accepted Answer

A) True 
 B)False

Question 6

Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.

Accepted Answer

A) True 
 B)False

Question 7

The actual hamburger is included in which category of making a hamburger?

Accepted Answer

A)   Input
B)   Process
C)   Output
D)   All of the choices are correctE) A) and D)
F) A) and C)

Question 8

A first-mover advantage is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.

Accepted Answer

A) True 
 B)False

Question 9

In a SWOT analysis, potential internal weaknesses are harmful when they identify all key areas that require improvement. Weaknesses focus on the absence of certain strengths, including absence of an Internet marketing plan, damaged reputation, problem areas for service, outdated technology, and employee issues.

Accepted Answer

A) True 
 B)False

Question 10

Firm infrastructure and human resource management are part of the support value activities.

Accepted Answer

A) True 
 B)False

Question 11

According to Porter it is recommended to adopt only one of the three generic strategies.

Accepted Answer

A) True 
 B)False

Question 12

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)   WalmartE) A) and D)
F) A) and C)

Question 13

Where would you categorize threats in a SWOT analysis?

Accepted Answer

A)   Internal, helpful
B)   Internal, harmful
C)   External, helpful
D)   External, harmfulE) A) and C)
F) B) and D)

Question 14

Mark Peterson identified the Porter's Five Forces Model which analyzes the competitive forces within a business environment.

Accepted Answer

A) True 
 B)False

Question 15

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 consistentE) All of the above
F) B) and C)

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

In a SWOT analysis, strengths and weaknesses originate ________ an organization.

Accepted Answer

A)   Outside (externally) 
B)   Inside (internally) 
C)   Both "Outside (externally)  and Inside (internally) "
D)   None of theseE) None of the above
F) All of the above

Question 18

A ________ features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Accepted Answer

A)   Competitive advantage
B)   Competitor advantage
C)   Power advantage
D)   First mover advantageE) A) and B)
F) A) and C)

Question 19

Identifying competitive advantages can be difficult, which explains why most competitive advantages are typically

Accepted Answer

A)   temporary.
B)   satisfactory.
C)   terminated.
D)   unsuccessful.E) B) and D)
F) A) and B)

Question 20

Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.

Accepted Answer

A) True 
 B)False

Exam 2: Identifying Competitive Advantages

In a SWOT analysis, potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, and competitor issues.

Correct Answer
verified

Correct Answer
verified

According to Porter it is recommended to adopt only one of the three generic strategies.

Correct Answer
verified

Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.

Correct Answer
verified

The actual hamburger is included in which category of making a hamburger?

Correct Answer
verified

Compare Porter's three generic strategies.

Correct Answer
verified
Organizations typically follow one of Po...
View Answer

Which of the following are included as potential internal weaknesses in a SWOT analysis that are harmful to an organization?

Correct Answer
verified

Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.

Correct Answer
verified

A ________ features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Correct Answer
verified

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

Correct Answer
verified

Where would you categorize threats in a SWOT analysis?

Correct Answer
verified

In a SWOT analysis, strengths and weaknesses originate ________ an organization.

Correct Answer
verified

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

Correct Answer
verified

Mark Peterson identified the Porter's Five Forces Model which analyzes the competitive forces within a business environment.

Correct Answer
verified

Which of the following is considered a good?

Correct Answer
verified

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

Correct Answer
verified

Firm infrastructure and human resource management are part of the support value activities.

Correct Answer
verified

Identifying competitive advantages can be difficult, which explains why most competitive advantages are typically

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 supplier power in the soft drink industry?

Correct Answer
verified

A first-mover advantage is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.

Correct Answer
verified

Exam 2: Identifying Competitive Advantages

In a SWOT analysis, potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, and competitor issues.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

According to Porter it is recommended to adopt only one of the three generic strategies.

Correct AnswerverifiedShow Answer

Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.

Correct AnswerverifiedShow Answer

The actual hamburger is included in which category of making a hamburger?

Correct AnswerverifiedShow Answer

Compare Porter's three generic strategies.

Correct AnswerverifiedOrganizations typically follow one of Po...View AnswerShow Answer

Which of the following are included as potential internal weaknesses in a SWOT analysis that are harmful to an organization?

Correct AnswerverifiedShow Answer

Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.

Correct AnswerverifiedShow Answer

A ________ features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Where would you categorize threats in a SWOT analysis?

Correct AnswerverifiedShow Answer

In a SWOT analysis, strengths and weaknesses originate ________ an organization.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Mark Peterson identified the Porter's Five Forces Model which analyzes the competitive forces within a business environment.

Correct AnswerverifiedShow Answer

Which of the following is considered a good?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Firm infrastructure and human resource management are part of the support value activities.

Correct AnswerverifiedShow Answer

Identifying competitive advantages can be difficult, which explains why most competitive advantages are typically

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 supplier power in the soft drink industry?

Correct AnswerverifiedShow Answer

A first-mover advantage is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
Organizations typically follow one of Po...
View Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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