BTMA 317 MIDTERM questions with complete solution 2023

BTMA 317 MIDTERMMichael Porter Strategy - correct answer A competitive strategy is a statement that identifies a business's approach to compete, its goals, and the plans and policies that will be required to carry out those goals - Porter The #1 Purpose of Strategy is - correct answer Alignment Industry Analysis - correct answer 1. Competitive Forces 2. Strategic Alignment 3. Type Of Strategies 4. Strategic Planning Strategic Alignment - correct answer Process and the result of linking an organization's structure and resources with it's strategy and business enviroment. (Business Strategy- Product Strategy, Marketing Stratregy, IT Strategy, Operations Strategy) Why is MIS (BTMA) Involved? - correct answer Provide accurate transactions, Provide Fast Comunications (machine to machine, human to human) and transactions, Support decision making What are Porter's Five Forces? - correct answer 1. Threat of New Entrants 2. Rivalry Among Existing Customers 3. The Threat of Substitute Goods 4. Bargaining Power Of Buyers 5. Bargaining Power of Suppliers Price Transparency of Internet - correct answer The Internet increases bargaining power of buyers and lowers the bargaining power of suppliers. ex. auto sales and jewelry where products are commodities