SDSU - MIS 180 Exam 1 Questions and
Answers 100% Solved
When is the threat of new entrants high vs. low? High when it is easy for new competitors
to enter a market and low when there are significant entry barriers
What is an entry barrier? A feature of a product or service that customers have come to
expect and entering competitors must offer the same for survival
When is rivalry among existing competitors high vs. low? High when competition is
fierce in a market and low when competitors are more complacent
What is product differentiation? Occurs when a company develops unique differences in
its products or services with the intent to influence demand
What are the three generic business strategies for entering a new market? 1. broad cost
leadership
2. broad differentiation
3. focused strategy
,What is the business process? A standardized set of activities that accomplish a specific
task, such as a specific process
What is the value chain analysis? Views a firm as a series of business processes that each
add value to the product or service
What are primary value activities? - inbound logistics
- operations
- outbound logistics
- marketing and sales
- service
What are support value activities? - firm infrastructure
- human resource management
- technology development
- procurement
, What are some managerial decision-making challenges? - managers need to analyze large
amounts of information
- managers must make decisions quickly
- managers must apply sophisticated analysis techniques to make strategic decisions
What is the Six-Step Decision-Making Process? 1. Problem identification
2. Data collection
3. Solution Generation
4. Solution Test
5. Solution Selection
6. Solution implementation
What is operational decision-making? Employees develop, control, and maintain core
business activities required to run the day-to-day operations
What are structured decisions? Situations where established processes offer potential
solutions
Answers 100% Solved
When is the threat of new entrants high vs. low? High when it is easy for new competitors
to enter a market and low when there are significant entry barriers
What is an entry barrier? A feature of a product or service that customers have come to
expect and entering competitors must offer the same for survival
When is rivalry among existing competitors high vs. low? High when competition is
fierce in a market and low when competitors are more complacent
What is product differentiation? Occurs when a company develops unique differences in
its products or services with the intent to influence demand
What are the three generic business strategies for entering a new market? 1. broad cost
leadership
2. broad differentiation
3. focused strategy
,What is the business process? A standardized set of activities that accomplish a specific
task, such as a specific process
What is the value chain analysis? Views a firm as a series of business processes that each
add value to the product or service
What are primary value activities? - inbound logistics
- operations
- outbound logistics
- marketing and sales
- service
What are support value activities? - firm infrastructure
- human resource management
- technology development
- procurement
, What are some managerial decision-making challenges? - managers need to analyze large
amounts of information
- managers must make decisions quickly
- managers must apply sophisticated analysis techniques to make strategic decisions
What is the Six-Step Decision-Making Process? 1. Problem identification
2. Data collection
3. Solution Generation
4. Solution Test
5. Solution Selection
6. Solution implementation
What is operational decision-making? Employees develop, control, and maintain core
business activities required to run the day-to-day operations
What are structured decisions? Situations where established processes offer potential
solutions
