MAN 4720 Final Exam UCF (Capstone UCF) Questions and Answers Already Passed

MAN 4720 Final Exam UCF (Capstone UCF) Questions and Answers Already Passed What is a generic business strategy? A. a general way of positioning a firm's business-level strategy within an industry B. a general way of positioning a firm's business-level strategy to penetrate an international market C. a general strategy that positions your firm in a competitive position within an industry D. all of the above A What are the two dimensions on which generic business strategies are classified? A. breadth of competitive scope/source of competitive advantage B. breadth of product line/source of competitive advantage C. breadth of competitive scope/extent of vertical integration D. breadth of product line/extent of vertical integration A Which of the following is not a main generic strategies? A. cost leadership B. differentiation C. focused low cost D. focused penetration D Which of the following is an example of one of the main generic strategies? A. differentiation B. diversification C. focused low cost D. cost abandonment E. B & C F. A & C F Which generic business strategy is on the intersection of competing on cost and targeting a broad market? A. cost leadership B. differentiation C. focused low cost D. focused differentiation A T/F: The experience curve is known as the decline in unit cost of production as cumulative output increases - based on knowledge/expertise. T T/F: Economies of scale refers to an increase in unit cost of production as rate of output increases (based on spreading out fixed costs). F All of the following are disadvantages of cost leadership EXCEPT: A. perceptions of quality B. relies on volume C. harder to survive price wars D. can be too focused on cost C Which of the following is a disadvantage of cost leadership: A. perceptions of service B. can be focused too much on cost C. relies on demand D. none of the above B All of the following are advantages of cost leadership EXCEPT: A. high profits through volume B. perceptions of quality C. easier to survive price wars D. all of the above B Which of the following is an advantage of cost leadership? A. perceptions of cost B. easier to survive price wars C. low profits through volume D. high profits through volume E. A & C F. B & D F Which generic business strategy is on the intersection of competing on uniqueness and targeting a broad market? A. cost leadership B. differentiation C. focused low cost D. focused differentiation B T/F: Innovation becomes really important