MAN 4720 EXAM 2 DEVER QUESTIONS
AND ANSWERS (GRADED A+)
A flexible manufacturing system is: - ANSWER-a computer-controlled process that is
used to produce a variety of products in moderate, flexible quantities with minimal
human intervention.
What is the key reason a firm must satisfy customers with their business level
strategies? - ANSWER-Returns earned from relationships with customers are the
lifeblood of all organizations
Which of the following statements are true? - ANSWER-Every from must develop and
implement a business level strategy
Hills Pet Company sells products for pets. Their mission is to help enrich and lengthen
the special relationship between people and their pets. This company targets the needs
of different segments of human customers with the food products it sells for animals.
They are following which of the following tactics? - ANSWER-Market Segmentation
Cost leadership strategy have numerous activities associated with it. Which of the
following are support functions that go along with the cost leadership strategy? -
ANSWER-Supply chain management, bargaining power of buyers, and potential
entrants
A firm's core strategy is its ___________ strategy. - ANSWER-business-level
From a strategic perspective, a basic need of all customers is to buy products that do
what? - ANSWER-Create value for them
When selecting a business-level strategy, the firm must determine all of the following
EXCEPT: - ANSWER-why these customers' needs should be satisfied
What does FMS stand for as used in this chapter? (Chapter 4) - ANSWER-Flexible
manufacturing system
Which of the following is an integrated set of actions taken to produce goods or services
with features that are acceptable to customers at the lowest cost, relative to that of
competitors? - ANSWER-Cost leadership strategy
When faced possible substitutes the cost leader has which of the following? -
ANSWER-More flexibility than its competitors
, Competitive dynamics refers to the: - ANSWER-ongoing actions and responses among
all firms competing within a market for advantageous positions.
What is it called when firms compete against each other in several product or
geographic markets? - ANSWER-Multimarket competition
What are the markets called in which firms competitive advantages are partially
shielded from imitation and imitation is moderately costly? - ANSWER-Standard cycle
markets
Which of the following is the same as strategic action? - ANSWER-Strategic response
Which of the following business level strategies consider rivalry with existing
competitors, the bargaining power of suppliers, and potential entrants before creating
the final strategy? - ANSWER-Cost leadership and differentiation strategy
Which of the following involves engaging in primary value chain activities and support
functions that allow the firm to simultaneously pursue low-cost and differentiation? -
ANSWER-Integrated cost leadership/differentiation strategy
Amazon has built capabilities around Internet technology and e-commerce to facilitate
information exchanges with its customers in a cost effective manner. This represents
which of the following service dimension?
a. reach
b. richness
c. affiliation
d. None of the these options are correct. - ANSWER-richness
All of the following are considered generic business-level strategies EXCEPT: -
ANSWER-product diversification
The key to Southwest Airlines' success has been its ability to continuously maintain low-
cost while providing customers acceptable levels of differentiation such as an engaging
culture. This has provided Southwest with what? - ANSWER-Competitive advantage
Which of the following are maples of approaches to differentiation? - ANSWER-All of
the answers given in this question are examples of approaches to differentiation.
When selecting a business level strategy, firms evaluate two type of potential
competitive advantage. Which of the following do they utilize? - ANSWER-Lower cost
than rivals or the ability to differentiate and command a premium price that exceeds the
extra cost of doing so
One of the following dimensions of a firm's relationships is concerned with the depth
and detail of a two-way flow of information between the customer and the firm, which is
it? - ANSWER-Richness
AND ANSWERS (GRADED A+)
A flexible manufacturing system is: - ANSWER-a computer-controlled process that is
used to produce a variety of products in moderate, flexible quantities with minimal
human intervention.
What is the key reason a firm must satisfy customers with their business level
strategies? - ANSWER-Returns earned from relationships with customers are the
lifeblood of all organizations
Which of the following statements are true? - ANSWER-Every from must develop and
implement a business level strategy
Hills Pet Company sells products for pets. Their mission is to help enrich and lengthen
the special relationship between people and their pets. This company targets the needs
of different segments of human customers with the food products it sells for animals.
They are following which of the following tactics? - ANSWER-Market Segmentation
Cost leadership strategy have numerous activities associated with it. Which of the
following are support functions that go along with the cost leadership strategy? -
ANSWER-Supply chain management, bargaining power of buyers, and potential
entrants
A firm's core strategy is its ___________ strategy. - ANSWER-business-level
From a strategic perspective, a basic need of all customers is to buy products that do
what? - ANSWER-Create value for them
When selecting a business-level strategy, the firm must determine all of the following
EXCEPT: - ANSWER-why these customers' needs should be satisfied
What does FMS stand for as used in this chapter? (Chapter 4) - ANSWER-Flexible
manufacturing system
Which of the following is an integrated set of actions taken to produce goods or services
with features that are acceptable to customers at the lowest cost, relative to that of
competitors? - ANSWER-Cost leadership strategy
When faced possible substitutes the cost leader has which of the following? -
ANSWER-More flexibility than its competitors
, Competitive dynamics refers to the: - ANSWER-ongoing actions and responses among
all firms competing within a market for advantageous positions.
What is it called when firms compete against each other in several product or
geographic markets? - ANSWER-Multimarket competition
What are the markets called in which firms competitive advantages are partially
shielded from imitation and imitation is moderately costly? - ANSWER-Standard cycle
markets
Which of the following is the same as strategic action? - ANSWER-Strategic response
Which of the following business level strategies consider rivalry with existing
competitors, the bargaining power of suppliers, and potential entrants before creating
the final strategy? - ANSWER-Cost leadership and differentiation strategy
Which of the following involves engaging in primary value chain activities and support
functions that allow the firm to simultaneously pursue low-cost and differentiation? -
ANSWER-Integrated cost leadership/differentiation strategy
Amazon has built capabilities around Internet technology and e-commerce to facilitate
information exchanges with its customers in a cost effective manner. This represents
which of the following service dimension?
a. reach
b. richness
c. affiliation
d. None of the these options are correct. - ANSWER-richness
All of the following are considered generic business-level strategies EXCEPT: -
ANSWER-product diversification
The key to Southwest Airlines' success has been its ability to continuously maintain low-
cost while providing customers acceptable levels of differentiation such as an engaging
culture. This has provided Southwest with what? - ANSWER-Competitive advantage
Which of the following are maples of approaches to differentiation? - ANSWER-All of
the answers given in this question are examples of approaches to differentiation.
When selecting a business level strategy, firms evaluate two type of potential
competitive advantage. Which of the following do they utilize? - ANSWER-Lower cost
than rivals or the ability to differentiate and command a premium price that exceeds the
extra cost of doing so
One of the following dimensions of a firm's relationships is concerned with the depth
and detail of a two-way flow of information between the customer and the firm, which is
it? - ANSWER-Richness
