Mgmt 107 Final Exam with verified ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answers
Strategic Information Systems - correct answer✔✔Any kind of information system that uses
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
IT to help an organization gain a competitive advantage, reduce a competitive
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
disadvantage, or meet other strategic enterprise objectives. ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Porter's Five Forces - correct answer✔✔1. Rivalry among Existing Competitors||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2. Threat of substitute products and services
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3. Threat of new entry||\\//|| ||\\//|| ||\\//|| ||\\//||
4. Bargaining Power of Suppliers
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5. Bargaining Power of Buyers
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5 Basic Competitive Strategies - correct answer✔✔1. Cost Leadership Strategy
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2. Differentiation Strategy
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3. Innovation Strategy||\\//|| ||\\//||
4. Growth Strategy ||\\//|| ||\\//||
5. Alliance Strategy ||\\//|| ||\\//||
Cost Leadership Strategy - correct answer✔✔Lower costs to become a price leader
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Differentiation Strategy - correct answer✔✔Differentiate products ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Innovation Strategy - correct answer✔✔Find new ways to do business or new markets to ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
enter. This includes: ||\\//|| ||\\//||
1. Creating new products and services that include IT
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
, 2. Developing unique/niche markets with the help of IT
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
3. Make radical changes to business process that cut costs, improve quality, efficiency of
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
customer service, or shorten time to market ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Growth Strategy - correct answer✔✔Expanding a company's production capacity. This
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
includes: ||\\//||
1. Managing regional and global business expansion
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2. Diversifying and integrating into other products and services
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Alliance Strategy - correct answer✔✔Align with other businesses through deals, mergers,
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
acquisitions, etc. This includes: ||\\//|| ||\\//|| ||\\//||
1. Create virtual organizations of business partners
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2. Develop interenterprise systems and extranets with others
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Value Chain Concept - correct answer✔✔Concept that a firm is a series, chain, or network
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
of business activities that add value to its products and services and thus add marginal
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
value to the firm and its customers. This includes:
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
1. Primary Processes
||\\//|| ||\\//||
2. Support Processes
||\\//|| ||\\//||
Primary Processes - correct answer✔✔Business activities that are directly related to the
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
manufacturer of the product or service. This includes: ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
1. Inbound Logistics
||\\//|| ||\\//||
2. Operations
||\\//||
3. Outbound Logistics
||\\//|| ||\\//||
4. Marketing and Sales
||\\//|| ||\\//|| ||\\//||
5. Customer Service
||\\//|| ||\\//||
answers
Strategic Information Systems - correct answer✔✔Any kind of information system that uses
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
IT to help an organization gain a competitive advantage, reduce a competitive
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
disadvantage, or meet other strategic enterprise objectives. ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Porter's Five Forces - correct answer✔✔1. Rivalry among Existing Competitors||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2. Threat of substitute products and services
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
3. Threat of new entry||\\//|| ||\\//|| ||\\//|| ||\\//||
4. Bargaining Power of Suppliers
||\\//|| ||\\//|| ||\\//|| ||\\//||
5. Bargaining Power of Buyers
||\\//|| ||\\//|| ||\\//|| ||\\//||
5 Basic Competitive Strategies - correct answer✔✔1. Cost Leadership Strategy
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2. Differentiation Strategy
||\\//|| ||\\//||
3. Innovation Strategy||\\//|| ||\\//||
4. Growth Strategy ||\\//|| ||\\//||
5. Alliance Strategy ||\\//|| ||\\//||
Cost Leadership Strategy - correct answer✔✔Lower costs to become a price leader
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Differentiation Strategy - correct answer✔✔Differentiate products ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Innovation Strategy - correct answer✔✔Find new ways to do business or new markets to ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
enter. This includes: ||\\//|| ||\\//||
1. Creating new products and services that include IT
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
, 2. Developing unique/niche markets with the help of IT
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
3. Make radical changes to business process that cut costs, improve quality, efficiency of
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
customer service, or shorten time to market ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Growth Strategy - correct answer✔✔Expanding a company's production capacity. This
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
includes: ||\\//||
1. Managing regional and global business expansion
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2. Diversifying and integrating into other products and services
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Alliance Strategy - correct answer✔✔Align with other businesses through deals, mergers,
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
acquisitions, etc. This includes: ||\\//|| ||\\//|| ||\\//||
1. Create virtual organizations of business partners
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2. Develop interenterprise systems and extranets with others
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Value Chain Concept - correct answer✔✔Concept that a firm is a series, chain, or network
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
of business activities that add value to its products and services and thus add marginal
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
value to the firm and its customers. This includes:
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
1. Primary Processes
||\\//|| ||\\//||
2. Support Processes
||\\//|| ||\\//||
Primary Processes - correct answer✔✔Business activities that are directly related to the
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
manufacturer of the product or service. This includes: ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
1. Inbound Logistics
||\\//|| ||\\//||
2. Operations
||\\//||
3. Outbound Logistics
||\\//|| ||\\//||
4. Marketing and Sales
||\\//|| ||\\//|| ||\\//||
5. Customer Service
||\\//|| ||\\//||
