MGT 8803 SUPPLY CHAIN QUESTION
AND ANSWERS
Strategy can be best described as the goal directed actions to gain and
sustain ___?
- high performance in advancing industry capabilities
- superior performance in the markets in which the firm operates
- long term financial profits and economic viability
- operational improvements and product advancements
- the earth's environment and the well-being of the communities in
which the firm operates - ANSW✔✔superior performance in the
markets in which the firm operates
Which of the following strategies has the greatest risk of encountering
high influence costs?
- Product Diversification
- Unrelated Diversification
- Related Diversification
- Geographic Diversification
- Concentration
- Backward Vertical Integration - ANSW✔✔Unrelated diversification
,Consider both statements regarding combination strategies:
- Statement 1: Combination strategies are often difficult because they
are inherently contradictory
- Statement 2: The goals of a combination strategy is to provide unique
value in an efficient manner - ANSW✔✔Both statements are true
Consider both statements:
- Statement 1: Tesla's growth strategy is far more focused on horizontal
integration instead of vertical integration.
- Statement 2: Tesla's efforts to have in-house capabilities to make the
batteries used in their EVs would be best characterized as organic
growth (rather than inorganic growth) - ANSW✔✔Only statement 2 is
True
A Blue Ocean Strategy is a business level strategy that successfully
combines differentiation and cost leadership activities using value
innovation to reconcile the inherent trade-offs. - ANSW✔✔True
According to Michael Porter the essence of strategy is ______.
- leveraging operational and marketing effectiveness to create
competitive advantage
- choosing what not to do
, - maximizing ROI while driving cost of capital down
- copying what works from competitors and avoiding what doesn't work
- aligning the external market environment with the firm's business
model - ANSW✔✔choosing what not to do
True/False: A criticism of the Traditional Top-Down approach to
strategic planning is that management assesses the external
environment in terms of fit to the firm's current capabilities rather than
thinking more "outside the box" when formulating future strategies. -
ANSW✔✔True
Consider both statements.
- Statement 1: Competitive advantage is always judged relative to other
competitors in the same industry or judged relative to industry average.
- Statement 2: Regardless of cost, a differentiation strategy will always
result in a competitive advantage if the firm can charge a premium
price for its products. - ANSW✔✔Only statement 1 is True
All of the following below are drivers that can create a differentiation
advantage and a greater willingness to pay except one. Select the one
that does not belong on the list:
- brand
- existence of complements
- economies of scale
AND ANSWERS
Strategy can be best described as the goal directed actions to gain and
sustain ___?
- high performance in advancing industry capabilities
- superior performance in the markets in which the firm operates
- long term financial profits and economic viability
- operational improvements and product advancements
- the earth's environment and the well-being of the communities in
which the firm operates - ANSW✔✔superior performance in the
markets in which the firm operates
Which of the following strategies has the greatest risk of encountering
high influence costs?
- Product Diversification
- Unrelated Diversification
- Related Diversification
- Geographic Diversification
- Concentration
- Backward Vertical Integration - ANSW✔✔Unrelated diversification
,Consider both statements regarding combination strategies:
- Statement 1: Combination strategies are often difficult because they
are inherently contradictory
- Statement 2: The goals of a combination strategy is to provide unique
value in an efficient manner - ANSW✔✔Both statements are true
Consider both statements:
- Statement 1: Tesla's growth strategy is far more focused on horizontal
integration instead of vertical integration.
- Statement 2: Tesla's efforts to have in-house capabilities to make the
batteries used in their EVs would be best characterized as organic
growth (rather than inorganic growth) - ANSW✔✔Only statement 2 is
True
A Blue Ocean Strategy is a business level strategy that successfully
combines differentiation and cost leadership activities using value
innovation to reconcile the inherent trade-offs. - ANSW✔✔True
According to Michael Porter the essence of strategy is ______.
- leveraging operational and marketing effectiveness to create
competitive advantage
- choosing what not to do
, - maximizing ROI while driving cost of capital down
- copying what works from competitors and avoiding what doesn't work
- aligning the external market environment with the firm's business
model - ANSW✔✔choosing what not to do
True/False: A criticism of the Traditional Top-Down approach to
strategic planning is that management assesses the external
environment in terms of fit to the firm's current capabilities rather than
thinking more "outside the box" when formulating future strategies. -
ANSW✔✔True
Consider both statements.
- Statement 1: Competitive advantage is always judged relative to other
competitors in the same industry or judged relative to industry average.
- Statement 2: Regardless of cost, a differentiation strategy will always
result in a competitive advantage if the firm can charge a premium
price for its products. - ANSW✔✔Only statement 1 is True
All of the following below are drivers that can create a differentiation
advantage and a greater willingness to pay except one. Select the one
that does not belong on the list:
- brand
- existence of complements
- economies of scale
