WPC 470 Midterm Exam Questions and
Answers
Which of the following three important stakeholder attributes should managers pay
special close attention to in order to better understand stakeholder impact analysis? -
Answer-power, legitimacy, and urgency
The best example of a firm's external stakeholders is a(n) - Answer-government agency
that regulates the prices of products manufactured by the firm
Which of the following is an example of competitive parity? - Answer-A firm produces a
similar number of wall clocks at a similar cost as its competitors
Batt Packs recently came under criticism when - Answer-design batteries without the
chemical and market them as environmentally friendly
The founder of T-Square Construction strongly - Answer-ensure that the company is
profitable and has a sustainable competitive advantage
Upper management at ComfyShoe Inc., a manufacturer of insoles for shoes, wants to
work on improving the product lines it already has without taking on other challenges at
this time. Which of the following vision statements reflects that goal? - Answer-
ComfyShoe Inc. wants to be the best manufacturer of insoles in the industry
Which of the following statements is true of customer-oriented visions? - Answer-
Customer-oriented vision statements are not the same as listening to your customer
Do vision statements help firms gain and sustain competitive - Answer-It depends,
because the effectiveness of vision statements differ by type
Maria and Tom both - Answer-dialectic inquiry
EverMart Inc. is a large company that sells - Answer-strategic business units
Hank runs - Answer-The company is likely to be very profitable as long as the threat to
entry is low
In which of the following situations is a company that exists in the telecommunications
industry most likely to face the highest threat of entry? - Answer-if the industry has
recently become deregulated
We Ensure Inc., an insurance firm, replaced - Answer-switching cost
Nye Stud - Answer-oligopolistic
Answers
Which of the following three important stakeholder attributes should managers pay
special close attention to in order to better understand stakeholder impact analysis? -
Answer-power, legitimacy, and urgency
The best example of a firm's external stakeholders is a(n) - Answer-government agency
that regulates the prices of products manufactured by the firm
Which of the following is an example of competitive parity? - Answer-A firm produces a
similar number of wall clocks at a similar cost as its competitors
Batt Packs recently came under criticism when - Answer-design batteries without the
chemical and market them as environmentally friendly
The founder of T-Square Construction strongly - Answer-ensure that the company is
profitable and has a sustainable competitive advantage
Upper management at ComfyShoe Inc., a manufacturer of insoles for shoes, wants to
work on improving the product lines it already has without taking on other challenges at
this time. Which of the following vision statements reflects that goal? - Answer-
ComfyShoe Inc. wants to be the best manufacturer of insoles in the industry
Which of the following statements is true of customer-oriented visions? - Answer-
Customer-oriented vision statements are not the same as listening to your customer
Do vision statements help firms gain and sustain competitive - Answer-It depends,
because the effectiveness of vision statements differ by type
Maria and Tom both - Answer-dialectic inquiry
EverMart Inc. is a large company that sells - Answer-strategic business units
Hank runs - Answer-The company is likely to be very profitable as long as the threat to
entry is low
In which of the following situations is a company that exists in the telecommunications
industry most likely to face the highest threat of entry? - Answer-if the industry has
recently become deregulated
We Ensure Inc., an insurance firm, replaced - Answer-switching cost
Nye Stud - Answer-oligopolistic
