Question 1

In a SWOT analysis, which of the following could you discover as potential external opportunities (helpful) ?

Accepted Answer

A)  Cost advantages
B)  Damaged reputation
C)  New markets
D)  Improved marketing campaignsE) A) and B)
F) C) and D)

Question 2

A standardized set of activities that accomplish a specific task is called a supply chain component.

Accepted Answer

A) True 
 B)False

Question 3

What is a SWOT analysis?

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

Question 4

The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ___________.

Accepted Answer

A)  Feedback
B)  Information
C)  Competitive intelligence
D)  DataE) A) and B)
F) B) and C)

Question 5

Which of the following statements is correct when considering a SWOT analysis?

Accepted Answer

A)  Strengths and weaknesses originate inside an organization.
B)  Opportunities and threats originate inside an organization.
C)  Strengths and threats originate inside an organization.
D)  Opportunities and weaknesses organization outside an organization.E) A) and B)
F) C) and D)

Question 6

What are costs that make customers reluctant to switch to another product or service?

Accepted Answer

A)  Support activities
B)  Switching costs
C)  Loyalty rewards
D)  Value chain activitiesE) A) and B)
F) All of the above

Question 7

In a SWOT analysis, which of the following could you discover as potential inner weaknesses (harmful) ?

Accepted Answer

A)  Cost advantages
B)  Damaged reputation
C)  New markets
D)  Competitor issuesE) A) and B)
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

Buyer power is included as one of Porter's three generic strategies.

Accepted Answer

A) True 
 B)False

Question 10

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, coffee are all beverage options available to consumers.E) All of the above
F) None of the above

Question 11

The threat of substitute products or services refers to the power of customers to purchase alternatives.

Accepted Answer

A) True 
 B)False

Question 12

There are many challenges to changing doctors, including transferring medical records and losing the doctor patient relationship along with the doctor's knowledge of the patient's history.Changing doctors provides a great example of switching costs.

Accepted Answer

A) True 
 B)False

Question 13

Gina Brooks works for Aquarium Retail Services selling high-end salt water fish and tank supplies.Aquarium Retail Services is the current market leader in Gina's city.Gina has recently been approached by Deep Blue Incorporated with an opportunity to run its corporate nationwide marketing and sales division.Gina decides to jump at the opportunity! Deep Blue is attempting to gain a competitive ________ by stealing its competitor's key employees.

Accepted Answer

A)  Power
B)  Entry barrier
C)  Advantage
D)  LoyaltyE) B) and C)
F) None of the above

Question 14

If a supplier has high power, what can it do to influence its industry?

Accepted Answer

A)  Charge higher prices.
B)  Shift costs to industry participants.
C)  Limit quality or services.
D)  All of these.E) All of the above
F) None of the above

Question 15

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) All of the above

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, Universal.
B)  Walmart, Target, iTunes.
C)  Independent record labels.
D)  Game systems like Wii, social networks like Facebook.E) A) and B)
F) A) and C)

Question 17

Which group of stakeholders' primary interests include professional associations, ethical recycling, and increasing employment?

Accepted Answer

A)  Employees
B)  Shareholders/Investors
C)  Community
D)  CustomersE) A) and B)
F) None of the above

Question 18

Your boss, Kerry Miller, 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) A) and B)
F) All of the above

Question 19

The value chain will group a company's activities into two categories: primary value activities and support value activities.

Accepted Answer

A) True 
 B)False

Question 20

Which group of stakeholders' primary interests include reliable contracts, ethical materials handling, and responsible production?

Accepted Answer

A)  Partners/Suppliers
B)  Shareholders/Investors
C)  Community
D)  GovernmentE) B) and C)
F) A) and D)

Exam 2: Identifying Competitive Advantages

In a SWOT analysis, which of the following could you discover as potential inner weaknesses (harmful) ?

Correct Answer
verified

If a supplier has high power, what can it do to influence its 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

The threat of substitute products or services refers to the power of customers to purchase alternatives.

Correct Answer
verified

Which of the following statements is correct when considering a SWOT analysis?

Correct Answer
verified

In a SWOT analysis, which of the following could you discover as potential external opportunities (helpful) ?

Correct Answer
verified

Buyer power is included as one of Porter's three generic strategies.

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

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

A standardized set of activities that accomplish a specific task is called a supply chain component.

Correct Answer
verified

What are costs that make customers reluctant to switch to another product or service?

Correct Answer
verified

Which group of stakeholders' primary interests include professional associations, ethical recycling, and increasing employment?

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

Your boss, Kerry Miller, 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

The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ___________.

Correct Answer
verified

Correct Answer
verified

What is a SWOT analysis?

Correct Answer
verified

The value chain will group a company's activities into two categories: primary value activities and support value activities.

Correct Answer
verified

Which group of stakeholders' primary interests include reliable contracts, ethical materials handling, and responsible production?

Correct Answer
verified

There are many challenges to changing doctors, including transferring medical records and losing the doctor patient relationship along with the doctor's knowledge of the patient's history.Changing doctors provides a great example of switching costs.

Correct Answer
verified

Exam 2: Identifying Competitive Advantages

In a SWOT analysis, which of the following could you discover as potential inner weaknesses (harmful) ?

Correct AnswerverifiedShow Answer

If a supplier has high power, what can it do to influence its 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

The threat of substitute products or services refers to the power of customers to purchase alternatives.

Correct AnswerverifiedShow Answer

Which of the following statements is correct when considering a SWOT analysis?

Correct AnswerverifiedShow Answer

In a SWOT analysis, which of the following could you discover as potential external opportunities (helpful) ?

Correct AnswerverifiedShow Answer

Buyer power is included as one of Porter's three generic strategies.

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

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

A standardized set of activities that accomplish a specific task is called a supply chain component.

Correct AnswerverifiedShow Answer

What are costs that make customers reluctant to switch to another product or service?

Correct AnswerverifiedShow Answer

Which group of stakeholders' primary interests include professional associations, ethical recycling, and increasing employment?

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

Your boss, Kerry Miller, 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

The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ___________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is a SWOT analysis?

Correct AnswerverifiedShow Answer

The value chain will group a company's activities into two categories: primary value activities and support value activities.

Correct AnswerverifiedShow Answer

Which group of stakeholders' primary interests include reliable contracts, ethical materials handling, and responsible production?

Correct AnswerverifiedShow Answer

There are many challenges to changing doctors, including transferring medical records and losing the doctor patient relationship along with the doctor's knowledge of the patient's history.Changing doctors provides a great example of switching costs.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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