MGMT 4660 EXAM 2 REVIEW UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

MGMT 4660 EXAM 2 REVIEW UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. 1. Generic strategies
Answer:
b. Represent basic ways that domestic and multinational companies keep and achieve competitive
advantage.

Question:
2. Which of the following is a primary generic strategy?
Answer:
b. Low Cost

Question:
3. Differentiation leads to higher profits by
Answer:
d. All of the above

Question:
4. A low cost strategy leads to higher profits by
Answer:
c. The cost savings that firms achieve.

Question:
5. __________ strategies achieve higher profits by charging higher prices.
Answer:
b. Differentiation

Question:
6. The value chain
Answer:
c. Represents all the activities that a firm uses to design, produce, market, deliver, and support its products.

Question:
7. Upstream activities in the value chain are concerned, in part, with
Answer:
c. Input logistics.

Question:
8. Support activities include
Answer:
d. None of the above

,Question:
9. Sales and dealing with distribution channels refer to _________ activities in the value chain.
Answer:
d. Downstream

Question:
10. Capabilities that lead to competitive advantage must be
Answer:
c. Valuable, rare, and hard to copy.

Question:
11. Competitive strategies
Answer:
b. Are moves multinationals and other companies use to defeat competitors.

Question:
12. Offensive strategies
Answer:
b. Are direct targeting/attacking of rivals.

Question:
13. Defensive strategies include
Answer:
d. None of the above

Question:
14. Strategies used to attempt to reduce the risk of being attacked are
Answer:
a. Defensive competitive strategies.

Question:
15. Counter-parry
Answer:
c. Is fending off a competitor's attack in one country by attacking the competitor in another country.

Question:
16. Corporate level strategies
Answer:
d. Are concerned with how companies choose their mixtures of different businesses.

Question:
17. Business level strategies
Answer:
c. Are concerned with how single business companies choose strategies.

, Question:
18. In related diversification
Answer:
c. Companies acquire businesses that are similar in some way to their core business.

Question:
19. Acquisition of mixtures of businesses in any industry is
Answer:
b. Unrelated diversification.

Question:
20. This is considered to be a popular and controversial way to address internal cost inefficiencies.
Answer:
b. Outsourcing

Question:
21. Market size, ease of entry and exit, and economies of scale are all examples of
Answer:
c. Dominant economic characteristics.

Question:
22. Key success factors are
Answer:
b. Important characteristics of a company or its product that lead to success in an industry.

Question:
23. The acronym SWOT stands for
Answer:
c. Strengths, weakness, opportunities, and threats.

Question:
24. A strength is
Answer:
b. Distinctive capability, resource, skill, or other advantage that a company has vis-à-vis its competitors.

Question:
25. Weaknesses are
Answer:
a. Lack of distinctive capabilities, resource, and skills that leads to competitive disadvantage compared to
competitors.

Question:
26. BMW and Mercedes view their Japanese rivals moves into the upscale car market as a/an
Answer:
d. Threat.