MGT 8803 SUPPLY CHAIN EXAM UPDATED ACTUAL
Questions and CORRECT Answers
Strategy can be best described as the goal superior performance in the markets in which the firm
directed actions to gain and sustain ___? operates
- high performance in advancing industry
capabilities
- superior performance in the markets in
which the firm operates
- long term financial profits and economic
viability
- operational improvements and product
advancements
- the earth's environment and the well-being
of the communities in which the firm
operates
According to Michael Porter the essence of choosing what not to do
strategy is___ _.
- leveraging operational and marketing
effectiveness to create competitive
advantage
- choosing what not to do
- maximizing ROI while driving cost of
capital down
- copying what works from competitors and
avoiding what doesn't work
- aligning the external market environment
with the firm's business model
, True/False: A criticism of the Traditional Top- True
Down approach to strategic planning is that
management assesses the external
environment in terms of fit to the firm's
current capabilities rather than thinking
more "outside the box" when formulating
future strategies.
Consider both statements. Only statement 1 is True
- Statement 1: Competitive advantage is
always judged relative to other competitors
in the same industry or judged relative to
industry average.
- Statement 2: Regardless of cost, a
differentiation strategy will always result in a
competitive advantage if the firm can
charge a premium price for its products.
All of the following below are drivers that economies of scale
can create a differentiation advantage and a
greater willingness to pay except one.
Select the one that does not belong on the
list:
- brand
- existence of complements
- economies of scale
- customer experience
- product features
- product performance
Which Statement below is true? To obtain a competitive advantage a firm must either create
more value for customers while keeping its costs comparable
- Cost leadership is the most common to competitors, or it must provide value equivalent to
generic strategy for firms focused on niche competitors but at a lower cost.
markets
- A firm is said to have a sustainable
competitive advantage if it can consistently
earn a profit every kayear for a prolonged
period of time
- To obtain a competitive advantage a firm
must either create more value for customers
while keeping its costs comparable to
competitors, or it must provide value
equivalent to competitors but at a lower
cost.
- A firm that is charging the lowest price
relative to its competitors will always be
pursuing a cost leadership strategy
- Bogus question: All of the above
statements are true statements
Questions and CORRECT Answers
Strategy can be best described as the goal superior performance in the markets in which the firm
directed actions to gain and sustain ___? operates
- high performance in advancing industry
capabilities
- superior performance in the markets in
which the firm operates
- long term financial profits and economic
viability
- operational improvements and product
advancements
- the earth's environment and the well-being
of the communities in which the firm
operates
According to Michael Porter the essence of choosing what not to do
strategy is___ _.
- leveraging operational and marketing
effectiveness to create competitive
advantage
- choosing what not to do
- maximizing ROI while driving cost of
capital down
- copying what works from competitors and
avoiding what doesn't work
- aligning the external market environment
with the firm's business model
, True/False: A criticism of the Traditional Top- True
Down approach to strategic planning is that
management assesses the external
environment in terms of fit to the firm's
current capabilities rather than thinking
more "outside the box" when formulating
future strategies.
Consider both statements. Only statement 1 is True
- Statement 1: Competitive advantage is
always judged relative to other competitors
in the same industry or judged relative to
industry average.
- Statement 2: Regardless of cost, a
differentiation strategy will always result in a
competitive advantage if the firm can
charge a premium price for its products.
All of the following below are drivers that economies of scale
can create a differentiation advantage and a
greater willingness to pay except one.
Select the one that does not belong on the
list:
- brand
- existence of complements
- economies of scale
- customer experience
- product features
- product performance
Which Statement below is true? To obtain a competitive advantage a firm must either create
more value for customers while keeping its costs comparable
- Cost leadership is the most common to competitors, or it must provide value equivalent to
generic strategy for firms focused on niche competitors but at a lower cost.
markets
- A firm is said to have a sustainable
competitive advantage if it can consistently
earn a profit every kayear for a prolonged
period of time
- To obtain a competitive advantage a firm
must either create more value for customers
while keeping its costs comparable to
competitors, or it must provide value
equivalent to competitors but at a lower
cost.
- A firm that is charging the lowest price
relative to its competitors will always be
pursuing a cost leadership strategy
- Bogus question: All of the above
statements are true statements
