BCOMM TEST 1 QUESTIONS & ANSWERS
A good business solution gives the actions a company should take to achieve its
objectives. - Answers - True
Which of the following is not a step used to solve business problems? - Answers -
evaluate solutions
Candidate solutions should be ordered: - Answers - from highest to lowest impact
The quick and dirty test addresses the: - Answers - assumptions that must be true for
the solution to be valid
If data is not available to support an assumption, a company can use all of the following
except: - Answers - historical data
Timing matters in strategy. - Answers - True
According to Mintzberg, your planned strategy is more important than what you actually
end up doing. - Answers - False
Great generals/CEOs think about the ______. - Answers - whole
A good strategy provides clear answers to four key questions. Which one of the
following is NOT one of the four questions? - Answers - Where will we be as a
company in 10 years?
Where does IKEA compete? - Answers - Global low-end furniture market
What is the difference between resources and capabilities? - Answers - Resources are
assets (tangible or intangible) whereas capabilities are processes or ways a company
uses resources towards an end goal.
Porter's five forces have no limitations when conducting an industry analysis. - Answers
- False
A higher threat of new entrants is good for industry incumbents. - Answers - False
Which correctly lists Porter's five forces? - Answers - Rivalry, Buyer Power, Supplier
Power, Entrants, Substitutes
Substitutes are: - Answers - Products/services that perform a similar function as an
industry's products/services by different means
Generally, how does the number of buyers affect buyer power? - Answers - When
there are few buyers, buyer power is high.
, Clearly defining your industry tells you where you _______. - Answers - compete
What "job(s)" did the morning customers buy milkshakes for in the Clayton Christenson
example? - Answers - To be able to use one hand for the commute to work and keep
them busy and full for a longer period
What key question can you use to help define an industry and determine your direct
competitors? - Answers - What job are customers hiring our product/service to do?
Hyundai is more of potential entrant rather than a direct competitor to BMW. - Answers
- True
A PEST analysis allows a company to evaluate the attractiveness of a specific industry,
but not the larger global environment. - Answers - False
A PEST analysis can help a company break free of old assumptions about how
managers should run organizations. - Answers - True
Which of the following is not a key step in a PEST analysis? - Answers - list the
components of each factor that impact your business
Which PEST factor impacts a company if they give cash bonuses on wedding
anniversaries and dating allowances for unmarried employees? - Answers - socio-
cultural
Virgin Cola failed due to its similarity with competitors in the job to be done level. -
Answers - True
When deciding where to compete, a company must look at: - Answers - its own
resources and capabilities
A company must target its resources and capabilities at nailing a customer's specific
jobs to be done. Which of the following is not one of those jobs? - Answers - personal
Where you compete is the starting point for strategic analysis. - Answers - True
Market attractiveness depends on the entrant's resources and capabilities. - Answers -
True
Which of the following is not one of the questions of strategy? - Answers - how you will
relate to customers
According to the video, competition occurs at which level? - Answers - job to be done
A good business solution gives the actions a company should take to achieve its
objectives. - Answers - True
Which of the following is not a step used to solve business problems? - Answers -
evaluate solutions
Candidate solutions should be ordered: - Answers - from highest to lowest impact
The quick and dirty test addresses the: - Answers - assumptions that must be true for
the solution to be valid
If data is not available to support an assumption, a company can use all of the following
except: - Answers - historical data
Timing matters in strategy. - Answers - True
According to Mintzberg, your planned strategy is more important than what you actually
end up doing. - Answers - False
Great generals/CEOs think about the ______. - Answers - whole
A good strategy provides clear answers to four key questions. Which one of the
following is NOT one of the four questions? - Answers - Where will we be as a
company in 10 years?
Where does IKEA compete? - Answers - Global low-end furniture market
What is the difference between resources and capabilities? - Answers - Resources are
assets (tangible or intangible) whereas capabilities are processes or ways a company
uses resources towards an end goal.
Porter's five forces have no limitations when conducting an industry analysis. - Answers
- False
A higher threat of new entrants is good for industry incumbents. - Answers - False
Which correctly lists Porter's five forces? - Answers - Rivalry, Buyer Power, Supplier
Power, Entrants, Substitutes
Substitutes are: - Answers - Products/services that perform a similar function as an
industry's products/services by different means
Generally, how does the number of buyers affect buyer power? - Answers - When
there are few buyers, buyer power is high.
, Clearly defining your industry tells you where you _______. - Answers - compete
What "job(s)" did the morning customers buy milkshakes for in the Clayton Christenson
example? - Answers - To be able to use one hand for the commute to work and keep
them busy and full for a longer period
What key question can you use to help define an industry and determine your direct
competitors? - Answers - What job are customers hiring our product/service to do?
Hyundai is more of potential entrant rather than a direct competitor to BMW. - Answers
- True
A PEST analysis allows a company to evaluate the attractiveness of a specific industry,
but not the larger global environment. - Answers - False
A PEST analysis can help a company break free of old assumptions about how
managers should run organizations. - Answers - True
Which of the following is not a key step in a PEST analysis? - Answers - list the
components of each factor that impact your business
Which PEST factor impacts a company if they give cash bonuses on wedding
anniversaries and dating allowances for unmarried employees? - Answers - socio-
cultural
Virgin Cola failed due to its similarity with competitors in the job to be done level. -
Answers - True
When deciding where to compete, a company must look at: - Answers - its own
resources and capabilities
A company must target its resources and capabilities at nailing a customer's specific
jobs to be done. Which of the following is not one of those jobs? - Answers - personal
Where you compete is the starting point for strategic analysis. - Answers - True
Market attractiveness depends on the entrant's resources and capabilities. - Answers -
True
Which of the following is not one of the questions of strategy? - Answers - how you will
relate to customers
According to the video, competition occurs at which level? - Answers - job to be done
