Central State University BUS 4795/ BUS4795 : Mid-Term Exam_ Answered Latest 2025/2026.

Mid-Term Exam BUS 4795 172-A% Question 1 (5 points) Saved Listen Trade secrets are legendary in the soft drink world. Which is actually the original secret soft drink? Question 1 options: Coke Dr. Pepper Rootbeer Pepsi Question 2 (5 points) Saved Listen Strategies that involve targeting a relatively narrow niche of potential customers are what type of strategies? Question 2 options: direct strategies focus strategies indirect strategies unconventional strategies Question 3 (5 points) Saved Listen The presence of a cost leader in an industry tends to encourage new companies to enter the business. Question 3 options:True False Question 4 (5 points) Saved Listen Although examining a company's awareness, motivation, and capability is important, the results of a series of moves and countermoves are often difficult to predict, and miscalculations can be costly. Question 4 options: True False Question 5 (5 points) Saved Listen Beyond being a positive social change, the widespread acceptance of who into the workforce has created important opportunities for certain organizations? Question 5 options: baby boomers women teenagers men Question 6 (5 points) Saved Listen According to Porter, how many competitive dimensions are the keys to business-level strategy? Question 6 options: 42 X 3 7 Question 7 (2 points) Saved Listen The use of child labor was once commonplace in the United States. Now firms face political scrutiny when using overseas suppliers that use child labor. Question 7 options: True False Question 8 (5 points) Saved Listen Companies that are not able to offer low prices or appealing unique features are referred to as "stuck in the middle." Question 8 options: True X False Question 9 (2 points) Saved Listen An organization should have goals. When writing goals which of the following is not needed? Question 9 options: The goal must be measurable The goal must be time bound The goal must be specificThe goal must be something all employees needs Question 10 (2 points) Saved Listen Tangible resources are quite difficult to see, to touch, or to quantify. Question 10 options: True False Question 11 (5 points) Saved Listen Which of the following is an example of a patent? Question 11 options: Nike Swoosh McDonald's Golden Arches Pepsi formula A new drug developed by Eli Lilly pharmaceutical company Question 12 (5 points) Saved Listen A situation in which a company faces the same rival in more than one market is called what? Question 12 options: Speed of Response Mutual Forbearance Multipoint Competition Fighting Brands Question 13 (5 points)Saved Listen Question 13 options: A company following a strategy attempts to convince customers to pay a premium price for its good or services by providing unique and desirable features. Question 14 (5 points) Saved Listen Which of these retailers follows a best-cost strategy? Question 14 options: Dollar General Walmart Target TJ Maxx Question 15 (5 points) Saved Listen In the late 1990s, Southwest Airlines and United Airlines competed in some but not all markets. United's announcement of plans to move into some of Southwest's other routes caused Southwest to publicly threaten retaliation. United then backed down and Southwest had no reason to attack. The result was better performance for both firms. This is an example of _____. Question 15 options: resource-based rivalry mutual forbearance global co-opetition hypercompetition Question 16 (2 points)Saved Listen Strategic management is a relatively new concept that started in the 1960's Question 16 options: X True False Question 17 (8 points) Saved Listen What two auto companies provide a well-known example of coopetition? Their vehicles were produced side by side for many years at the jointly owned New United Motor Manufacturing Incorporated (NUMMI) in Fremont, California. Question 17 options: Toyata Ford General Motors Nissan Question 18 (6 points) Saved Listen The environmental segment includes which factors? Select all that apply. Select 3 correct answer(s) Question 18 options: scientific advances pollution cultural trends weather patternsnatural disasters Question 19 (10 points) Saved Listen Identify the Advantages to differentiation strategy. Check all that apply Question 19 options: Brand loyalty Price sensitivity Little to no Marketing expense Strong profit margins Question 20 (2 points) Saved Listen _____________ is used to make sense of an organization's standing along a performance measure. Question 20 options: The corporate mission The corporate vision X A bench mark A performance referent Question 21 (5 points) Saved Listen Walmart's business strategy would best be described as which of the following? Question 21 options: Product differentiation Cost leadership Focused cost leadership Focused differentiationQuestion 22 (5 points) Saved Listen Which are characteristics of cost leaders? Check all that apply. Question 22 options: Spend a lot on Research and Development Emphasize Efficiency Small Companies Spend little on Marketing/Advertising Question 23 (8 points) Saved Listen When thinking about strategic groups, due to mobility barriers, Subway would not need to worry about competing with what other restaurants? Check all that apply. Select 2 correct answer(s) Question 23 options: Ruth's Steak House Quiznos P.F. Chang's Jimmy Johns Question 24 (5 points) Saved Listen There are 4 different types of business models for profit businesses. According to the text, which of the following would not fall into this category. Question 24 options: ManufacturingMarketing Distributor Retailer Franchising Question 25 (2 points) Saved Listen A strategic plan is a carefully crafted set of steps that a firm intends to follow in order to be successful. Aa business model is part of the strategic plan. Question 25 options: True False Question 26 (5 points) Saved Listen Substitutes are offerings that differ from the goods and services provided by the competitors in an industry but that fill similar needs to what the industry offers. Match the good or service with an industry substitute. Question 26 options: 12345 Generic Drugs 12345 Uber 12345 Computers 12345 Netflix 12345 Email 1. Taxi 2. Brand Name Pharmaceuticals 3. Cable Television 4. Typewriters 5. US Postal Service Question 27 (2 points) Saved ListenThe economic crisis of the late 2000s has had a tremendous positive effect on a vast array of organizations. Question 27 options: True False Question 28 (5 points) Saved Listen Which organization is NOT a company considered to be 'stuck in the middle'? Question 28 options: Netflix Blockbuster Video Arby's Circuit City Question 29 (2 points) Saved Listen CEOs displaying high levels of relative fame but low levels of reputation. These CEOs are well known, but vilified is known as a hidden gem. Question 29 options: True False Question 30 (2 points) Saved Listen Potential New Entrants are companies that do not currently compete in an industry but might join the industry in the future.Question 30 options: True False Question 31 (3 points) Saved Listen SWOT is best viewed as a brainstorming technique for generating creative ideas, not as a rigorous method for selecting strategies. Question 31 options: True X False Question 32 (2 points) Saved Listen Starting rumors about competitors, lying about new product being introduced is an example of a _____________. Question 32 options: Plan Business model All of the above Ploy Question 33 (2 points) Saved Listen Wars provide important lessons about strategic management and one of the greatest strategist is Question 33 options: Bill Gates General ChowSun Tzu Marco Polo Question 34 (2 points) Saved Listen Firms that are stuck in the middle generally perform highly because they have a clear market or competitive pricing. Question 34 options: True False Question 35 (5 points) Saved Listen Match the Competitive Move with it's definition. Question 35 options: 12345 An improvement that conflicts with, and threatens to replace, traditional approaches to competing within an industry. 12345 Creating a new, untapped market rather than competing with rivals in an existing market. 12345 A small position that a company intentionally establishes within a market in which it does not yet compete. 12345 An initial entrant into a market. 12345 Using whatever materials and resources happen to be available as the inputs into a creative process. 1. First Mover 2. Disruptive Innovation 3. Foothold 4. Blue Ocean Strategy 5. Bricolage Question 36 (5 points) Saved ListenNEC (a Japanese electronics company) has three different relationships with Hewlett-Packard Co.: customer, supplier, and competitor. Some units of each company work cooperatively with the other company, while other units are direct competitors. This is an example of _____. Question 36 options: joint venture co-opetition co-location joint survival Question 37 (2 points) Saved Listen A focused differentiation strategy requires offering unique features that fulfill the demands of a narrow market. Question 37 options: True False Question 38 (10 points) Saved Listen Question 38 options: Some observers have suggested that competition in many settings has transformed into which involves very rapid and unpredictable moves and countermoves that can undermine competitive advantages. Question 39 (10 points) Saved Listen Put the steps of the Strategic Management process in order. Question 39 options:1234 Environmental and Internal Scanning 1234 Strategy Formulation 1234 Understanding Strategy and Performance 1234 Strategy Implementation Question 40 (2 points) Saved Listen It is only necessary to use one performance measurement, such as stock price, to determine how an organization is performing. Question 40 options: True False Question 41 (5 points) Saved Listen Match the definition with the word. Question 41 options: 12345 Nonsubstitutable 12345 Valuable 12345 Strategic resourceX 12345 Resource based theory 12345 Capabilities 1. A theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals. 2. An asset that is valuable, rare, difficult to imitate, and nonsubstitutable. 3. Resources that help a company create strategies that capitalize on opportunities and ward off threat. 4. Resources that exist when competitors cannot find alternative ways to gain the benefits that a resource provides. 5. What the organization can do based on the resources it possesses. Question 42 (5 points) Saved ListenUsing a differentiation strategy means that a company is competing based on uniqueness rather than price and is seeking to attract a broad market. Question 42 options: True False Question 43 (2 points) Saved Listen Which of the following is not part of the Balanced Scorecard process? Question 43 options: Measuring the performance of the company competitors. Customer measures Learning and growth measures Financial measures