MGMT 4513- Aime Final || very Flawless.
the hierarchy of organizational goals is in this order
a. vision statements, mission statements, strategic objectives.
B. mission statements, vision statements, strategic objectives.
C. mission statements, strategic objectives, vision statements.
D. vision statements, strategic objectives, mission statements. correct answers B. mission
statements, vision statements, strategic objectives
some excellent examples of mission statements are: "to be the happiest place on earth" (Disney)
and ' restoring patients to full life" (medtronic) (T/F) correct answers False
organizational goals and objectives should be vague in order to allow changes in strategy (T/F)
correct answers False
increasingly larger numbers of women entering the work force since the early 1970s is an
example of
A. technological developments.
B. political and legal environmental changes.
C. demographic changes.
D. sociocultural chamges correct answers D. sociocultural changes
an industy is defined as
A. A group of firms producing products that are close substitutes.
B. Firms producing items that sell through the same distribution channels.
C. Firms that have the same seven digit standards industrial code.
D. A group of firms producing the same item. correct answers A. a group of firms producing
products that are close substitutes
the five forces model (buyers/suppliers/new entrants/substitutes/rivalry) is a firm-level analytical
model which explains differences in performance between the firms that compete in on industry
(T/Y) correct answers False
which is considered a force in the "Five-Forces" model?
A. Increased deregulation in an industry
B. The threat of government intervention
C. Rivalry among competing firms
D. Recent technological innovation correct answers C. Rivalry among competing firms
Because the internet lowers barriers to entry in most industries, it
A. Decreases the threat of new entrants.
B. Increases the threat of new entrants.
C. Increases supplier power.
D. Makes it easier to build customer loyalty. correct answers B. Increases the threat of new
entrants
,which of the following is NOT an entry barrier to an industry
A. economies of scale
B. customer product loyalty
C. expected competitor retaliation
D. bargaining power of suppliers correct answers C. bargaining power of suppliers
industries characterized by high economies of scale typically attract fewer new entrants (T/Y)
correct answers True
which of the following firms would likely pose the least competitive threat?
A. A competitor to your product where a high switching cost exists.
B. A firm in the same industry and in the nearest strategic group looking to join your group
C. A firm in the same industry and in the same strategic group
D. A firm that produces substitute goods to your product line. correct answers A. a competitor to
your product where high switching cost exists
The bargaining power of suppliers is enhanced under the following market condition:
a. no threat of forward integration
b. low differentiation of the suppliers' products
c. greater availability of substitute products
d. dominance by a few suppliers correct answers D. dominance by a few suppliers.
A certain marble quarry provides a unique type of marble that is richly colored and strikingly
veined. It has been used for churches and public buildings throughout the world. The architect of
a new headquarters for a prestigious Fortune 500 firms has specified the use of this marble, and
this marble only, for this project. which of the following statements is most likely to be true?
A. The cost of the marble will be moderate because of economies of scale.
B. The cost of the marble will be expensive because of the bargaining power of the supplier.
C. The cost of the marble will be expensive because of the high strategic stakes involved.
D. The cost of the marble will be moderate because of the bargaining power of the buyer. correct
answers B. The cost of the marble will be expensive because of the bargaining power of the
supplier.
Supplier power tends to be highest in industries where products are vital to buyers, where
switching from one supplier to another is very costly, and where there are many suppliers. (T/F)
correct answers False
The most intense rivalry results from
A. a high level of differentiation.
B. numerous equally balanced competitors, slow industry growth, high fixed or storage costs.
C. few competitors, slow industry growth, lack of differentiation, high fixed or storage costs.
D. numerous equally balanced competitors, manufactuing capacity increases only in large
increments, low exit barriers. correct answers B. numerous equally balanced competitors, slow
industry growth, high fixed or storage costs.
Upper limits on the prices a firm can charge are impacted by:
, A. expected retaliation from competitors.
B. customers' high switching costs.
C. the cost of substitute products.
D. variable costs of production. correct answers C. the cost of substitute products.
Which of the following is not one of the reasons the internet increases the intensity of
competitive rivalry?
A. The internet makes it more difficult for firms to differentiate themselves.
B. The internet has made it more dificult to imitate the product quality advantages achieved by
competitors.
C. The internet has eliminated the importance of location by making geographically distant
products available online.
D. The internet has commoditized products that previously were regarded as rare or unique.
correct answers B. The internet has made it more difficult to imitate the product quality
advantages achieved by competitors.
Firms would be most likely to face intense rivalry with competitors when they
A. have low exit barriers for easy transition to another industry.
B. have high fixed costs, in a slow growth industry with high exit barriers.
C. are in a high growth industry with low fixed costs.
D. are in a protected market. correct answers B. have high fixed costs, in a slow growth industry
with high exit barriers.
If you believed in a pure five forces model of above-average returns, which of the following
things is LEAST important?
A. analysis of general environment
B. all are equally important
C. competitor analysis
D. industry analysis
E. analysis of resources, capabilities, and core competencies correct answers E. analysis of
resources, capabilities, and core competencies
Industry A is characterized by high advertising and R&D expenses (as a proportion of revenues)
or, said differently, high differentiation. Industry B has a low advertising and R&D expenses.
Which industry would tend to have a higher threat of new entrants? Higher degree of rivalry?
A. Industry B; Industry B
B. Industry A; Industry A
C. Industry B; Industry A
D. Advertising and R&D expenses provide no information regarding of new entrants or rivalry.
E. Industry A; Industry B correct answers A. Industry B; Industry B
A manufacturing business pursuing cost leadership will likely
A. use advertising to build brand image.
B. focus on a narrow market segment.
C. put heavy emphasis on product engineering.
the hierarchy of organizational goals is in this order
a. vision statements, mission statements, strategic objectives.
B. mission statements, vision statements, strategic objectives.
C. mission statements, strategic objectives, vision statements.
D. vision statements, strategic objectives, mission statements. correct answers B. mission
statements, vision statements, strategic objectives
some excellent examples of mission statements are: "to be the happiest place on earth" (Disney)
and ' restoring patients to full life" (medtronic) (T/F) correct answers False
organizational goals and objectives should be vague in order to allow changes in strategy (T/F)
correct answers False
increasingly larger numbers of women entering the work force since the early 1970s is an
example of
A. technological developments.
B. political and legal environmental changes.
C. demographic changes.
D. sociocultural chamges correct answers D. sociocultural changes
an industy is defined as
A. A group of firms producing products that are close substitutes.
B. Firms producing items that sell through the same distribution channels.
C. Firms that have the same seven digit standards industrial code.
D. A group of firms producing the same item. correct answers A. a group of firms producing
products that are close substitutes
the five forces model (buyers/suppliers/new entrants/substitutes/rivalry) is a firm-level analytical
model which explains differences in performance between the firms that compete in on industry
(T/Y) correct answers False
which is considered a force in the "Five-Forces" model?
A. Increased deregulation in an industry
B. The threat of government intervention
C. Rivalry among competing firms
D. Recent technological innovation correct answers C. Rivalry among competing firms
Because the internet lowers barriers to entry in most industries, it
A. Decreases the threat of new entrants.
B. Increases the threat of new entrants.
C. Increases supplier power.
D. Makes it easier to build customer loyalty. correct answers B. Increases the threat of new
entrants
,which of the following is NOT an entry barrier to an industry
A. economies of scale
B. customer product loyalty
C. expected competitor retaliation
D. bargaining power of suppliers correct answers C. bargaining power of suppliers
industries characterized by high economies of scale typically attract fewer new entrants (T/Y)
correct answers True
which of the following firms would likely pose the least competitive threat?
A. A competitor to your product where a high switching cost exists.
B. A firm in the same industry and in the nearest strategic group looking to join your group
C. A firm in the same industry and in the same strategic group
D. A firm that produces substitute goods to your product line. correct answers A. a competitor to
your product where high switching cost exists
The bargaining power of suppliers is enhanced under the following market condition:
a. no threat of forward integration
b. low differentiation of the suppliers' products
c. greater availability of substitute products
d. dominance by a few suppliers correct answers D. dominance by a few suppliers.
A certain marble quarry provides a unique type of marble that is richly colored and strikingly
veined. It has been used for churches and public buildings throughout the world. The architect of
a new headquarters for a prestigious Fortune 500 firms has specified the use of this marble, and
this marble only, for this project. which of the following statements is most likely to be true?
A. The cost of the marble will be moderate because of economies of scale.
B. The cost of the marble will be expensive because of the bargaining power of the supplier.
C. The cost of the marble will be expensive because of the high strategic stakes involved.
D. The cost of the marble will be moderate because of the bargaining power of the buyer. correct
answers B. The cost of the marble will be expensive because of the bargaining power of the
supplier.
Supplier power tends to be highest in industries where products are vital to buyers, where
switching from one supplier to another is very costly, and where there are many suppliers. (T/F)
correct answers False
The most intense rivalry results from
A. a high level of differentiation.
B. numerous equally balanced competitors, slow industry growth, high fixed or storage costs.
C. few competitors, slow industry growth, lack of differentiation, high fixed or storage costs.
D. numerous equally balanced competitors, manufactuing capacity increases only in large
increments, low exit barriers. correct answers B. numerous equally balanced competitors, slow
industry growth, high fixed or storage costs.
Upper limits on the prices a firm can charge are impacted by:
, A. expected retaliation from competitors.
B. customers' high switching costs.
C. the cost of substitute products.
D. variable costs of production. correct answers C. the cost of substitute products.
Which of the following is not one of the reasons the internet increases the intensity of
competitive rivalry?
A. The internet makes it more difficult for firms to differentiate themselves.
B. The internet has made it more dificult to imitate the product quality advantages achieved by
competitors.
C. The internet has eliminated the importance of location by making geographically distant
products available online.
D. The internet has commoditized products that previously were regarded as rare or unique.
correct answers B. The internet has made it more difficult to imitate the product quality
advantages achieved by competitors.
Firms would be most likely to face intense rivalry with competitors when they
A. have low exit barriers for easy transition to another industry.
B. have high fixed costs, in a slow growth industry with high exit barriers.
C. are in a high growth industry with low fixed costs.
D. are in a protected market. correct answers B. have high fixed costs, in a slow growth industry
with high exit barriers.
If you believed in a pure five forces model of above-average returns, which of the following
things is LEAST important?
A. analysis of general environment
B. all are equally important
C. competitor analysis
D. industry analysis
E. analysis of resources, capabilities, and core competencies correct answers E. analysis of
resources, capabilities, and core competencies
Industry A is characterized by high advertising and R&D expenses (as a proportion of revenues)
or, said differently, high differentiation. Industry B has a low advertising and R&D expenses.
Which industry would tend to have a higher threat of new entrants? Higher degree of rivalry?
A. Industry B; Industry B
B. Industry A; Industry A
C. Industry B; Industry A
D. Advertising and R&D expenses provide no information regarding of new entrants or rivalry.
E. Industry A; Industry B correct answers A. Industry B; Industry B
A manufacturing business pursuing cost leadership will likely
A. use advertising to build brand image.
B. focus on a narrow market segment.
C. put heavy emphasis on product engineering.
