Question 1

Where would you categorize opportunities in a SWOT analysis?

Accepted Answer

A)  Internal, helpful
B)  Internal, harmful
C)  External, helpful
D)  External, harmfulE) A) and C)
F) All of the above

Question 2

Which of the following offers an example of a company operating in a narrow focused-market operating as the low-cost provider?

Accepted Answer

A)  Walmart
B)  Tiffany & Co.
C)  Neiman Marcus
D)  Payless ShoesE) None of the above
F) A) and C)

Question 3

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 4

In a SWOT analysis, opportunities and threats originate __________ an organization.

Accepted Answer

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

Question 5

Which of the following is not a typical way that a company would duplicate a competitive advantage?

Accepted Answer

A)  Acquiring the new technology.
B)  Copying the business operations.
C)  Hiring away key employees.
D)  Carrying large product inventories.E) B) and D)
F) A) and B)

Question 6

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 7

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 threat of a new entrant 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, coffee are all beverage options available to consumers.E) A) and C)
F) None of the above

Question 8

Where would you categorize strengths in a SWOT analysis?

Accepted Answer

A)  Internal, helpful
B)  Internal, harmful
C)  External, helpful
D)  External, harmfulE) A) and D)
F) None of the above

Question 9

What evaluates industry attractiveness?

Accepted Answer

A)  SWOT Analysis
B)  The Five Forces Model
C)  Value Chain Analysis
D)  Three Generic StrategiesE) A) and B)
F) C) and D)

Question 10

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

Question 11

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.E) None of the above
F) All of the above

Question 12

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 13

In a SWOT analysis, potential internal strengths are helpful when they identify all key strengths associated with the competitive advantage including cost advantages, new and/or innovative services, special expertise and/or experience, proven market leader, improved marketing campaigns, and so on.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

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

Question 16

What is a person or group that has an interest or concern in an organization?

Accepted Answer

A)  Stakeholder
B)  Business strategy
C)  Supplier
D)  PartnerE) B) and D)
F) A) and C)

Question 17

Attracting new customers, decreasing costs, and entering new markets are all examples of successful business strategies.

Accepted Answer

A) True 
 B)False

Question 18

Explain why competitive advantages are temporary.

Accepted Answer

A competitive advantage is a feature of ...

Question 19

Which of the following are included as potential internal strengths in a SWOT analysis that are helpful 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 D)
F) A) and C)

Question 20

Which of the following represents a company in a supply chain?

Accepted Answer

A)  Customer and competitor.
B)  Supplier and competitor.
C)  Knowledge worker and supplier.
D)  Supplier and customer.E) All of the above
F) None of the above

Exam 2: Identifying Competitive Advantages

Which of the following is not a typical way that a company would duplicate a competitive advantage?

Correct AnswerverifiedShow Answer

Where would you categorize strengths in a SWOT analysis?

Correct AnswerverifiedShow Answer

Which of the following offers an example of a company operating in a narrow focused-market operating as the low-cost provider?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Explain why competitive advantages are temporary.

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

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

Correct AnswerverifiedShow Answer

Which of the following represents a company in a supply chain?

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 threat of a new entrant in the soft drink industry?

Correct AnswerverifiedShow Answer

In a SWOT analysis, opportunities and threats originate __________ an organization.

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

What evaluates industry attractiveness?

Correct AnswerverifiedShow Answer

In a SWOT analysis, potential internal strengths are helpful when they identify all key strengths associated with the competitive advantage including cost advantages, new and/or innovative services, special expertise and/or experience, proven market leader, improved marketing campaigns, and so on.

Correct AnswerverifiedShow Answer

Where would you categorize opportunities in a SWOT analysis?

Correct AnswerverifiedShow Answer

What is a person or group that has an interest or concern in an organization?

Correct AnswerverifiedShow Answer

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

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

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

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

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.

Correct AnswerverifiedShow Answer

Attracting new customers, decreasing costs, and entering new markets are all examples of successful business strategies.

Correct AnswerverifiedShow Answer

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

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