WPC 480 MIDTERM EXAM
LATEST UPDATE|GUARANTEED
ACCURATE ANSWERS
The relative bargaining power of suppliers is high when incumbent firms
face low switching costs when changing suppliers.
A. True
B. False - ACCURATE ANSWERS✔✔ False
According to the internal value chain analysis, which of the following is
a primary activity?
A. Research and Development
B. Supply Chain Mgt
C. Accounting
D. Human Resources - ACCURATE ANSWERS✔✔ Supply Chain Mgt
is best described as the difference between
the value a consumer attaches to a good and the cost to provide the good.
A. Profit
B. Economic Value Created
C. Consumer's Surplus
,D. Producer's Surplus - ACCURATE ANSWERS✔✔ Economic Value
Created
Onivo Auto Inc. has been the leader in low-cost and fuel-efficient engine
technology for many years. It has been able to sustain its competitive
advantage primarily because of its highly efficient automobile engines,
which competitors have been unable to develop or buy at a reasonable
price. In the context of the VRIO framework, which of the following
resource attributes most likely underpins Onivo's competitive
advantage?
A. The resource is easy to replicate.
B. The resource is costly to imitate.
C. The resource neutralizes external opportunities - ACCURATE
ANSWERS✔✔ The resource is costly to imitate.
Which is a source of increasing customers' willingness to pay?
A. Common Product Feature
B. Learning Curve Effect
C. Poor Customer Service
D. Existence of Great Compliments - ACCURATE ANSWERS✔✔
Existence of Great Compliments
Which of the following is not true about the business-level strategy of
Walmart?
, A. Walmart has been pursuing cost leadership strategy.
B. Walmart charges lower price for national brand goods, increasing
consumers' surplus.
C. Heavy investment in smart IT systems is not consistent with
Walmart's overall strategic position.
D. Real-time EDI with suppliers helped Walmart lower inventory
management cost. - ACCURATE ANSWERS✔✔ Heavy investment in
smart IT systems is not consistent with Walmart's overall strategic
position
What is strategy? - ACCURATE ANSWERS✔✔ An integrated set of
goal-directed actions a firm takes to gain and sustain competitive
advantages
Competitive Advantage - ACCURATE ANSWERS✔✔ Occurs when an
organization is able to
create more economic value than the marginal (breakeven)
competitor in its product market (through superior differentiation
and/or lower costs). [Temporary or Sustainable]
Sustainable Competitive Advantage - ACCURATE ANSWERS✔✔
Outperforming competitors or the industry average over a prolonged
period of time
LATEST UPDATE|GUARANTEED
ACCURATE ANSWERS
The relative bargaining power of suppliers is high when incumbent firms
face low switching costs when changing suppliers.
A. True
B. False - ACCURATE ANSWERS✔✔ False
According to the internal value chain analysis, which of the following is
a primary activity?
A. Research and Development
B. Supply Chain Mgt
C. Accounting
D. Human Resources - ACCURATE ANSWERS✔✔ Supply Chain Mgt
is best described as the difference between
the value a consumer attaches to a good and the cost to provide the good.
A. Profit
B. Economic Value Created
C. Consumer's Surplus
,D. Producer's Surplus - ACCURATE ANSWERS✔✔ Economic Value
Created
Onivo Auto Inc. has been the leader in low-cost and fuel-efficient engine
technology for many years. It has been able to sustain its competitive
advantage primarily because of its highly efficient automobile engines,
which competitors have been unable to develop or buy at a reasonable
price. In the context of the VRIO framework, which of the following
resource attributes most likely underpins Onivo's competitive
advantage?
A. The resource is easy to replicate.
B. The resource is costly to imitate.
C. The resource neutralizes external opportunities - ACCURATE
ANSWERS✔✔ The resource is costly to imitate.
Which is a source of increasing customers' willingness to pay?
A. Common Product Feature
B. Learning Curve Effect
C. Poor Customer Service
D. Existence of Great Compliments - ACCURATE ANSWERS✔✔
Existence of Great Compliments
Which of the following is not true about the business-level strategy of
Walmart?
, A. Walmart has been pursuing cost leadership strategy.
B. Walmart charges lower price for national brand goods, increasing
consumers' surplus.
C. Heavy investment in smart IT systems is not consistent with
Walmart's overall strategic position.
D. Real-time EDI with suppliers helped Walmart lower inventory
management cost. - ACCURATE ANSWERS✔✔ Heavy investment in
smart IT systems is not consistent with Walmart's overall strategic
position
What is strategy? - ACCURATE ANSWERS✔✔ An integrated set of
goal-directed actions a firm takes to gain and sustain competitive
advantages
Competitive Advantage - ACCURATE ANSWERS✔✔ Occurs when an
organization is able to
create more economic value than the marginal (breakeven)
competitor in its product market (through superior differentiation
and/or lower costs). [Temporary or Sustainable]
Sustainable Competitive Advantage - ACCURATE ANSWERS✔✔
Outperforming competitors or the industry average over a prolonged
period of time
