WPC 470 FINAL EXAM NEWEST BUNDLE 2024 EXAM ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
Wallingford Company is trying to determine optimal ways to collect and distribute knowledge
throughout the firm. This is an activity for which support function in the value chain?
a.Human resources
b.Finance
c.Management information systems
d.Distribution - (answer) Management Information Systems
Vendors across the country offer sunglasses that look virtually identical to those made by Chanel, Prada,
Gucci, and other luxury brands—including the trademark logos—but cost far less. These products are the
result of:
a.competition.
b.imitation.
c.counterfeiting.
d.evolving consumer preferences. - (answer) counterfeiting
JoAnn Tucker recently took over as Chief Executive Officer (CEO) of Burger-Rama, Inc. Burger-Rama has
seen declining profits over the past five years and has struggled to remain competitive in the fast-food
industry. In order to achieve strategic competitiveness, JoAnn must:
a..conduct training programs and hire educated and experienced employees.
b.invest in sophisticated technology in relevant knowledge areas.
c.fire the current board of directors and start afresh.
d.shift the company's focus to marketing and develop an extensive advertising campaign. - (answer)
conduct training programs and hire educated and experienced employees
Firms failing to perform the value-chain activities and support functions in an optimum manner when
implementing the _____ strategy become "stuck in the middle."
a.cost leadership
b.focus
c.differentiation
d.integrated cost leadership/differentiation - (answer) integrated cost leadership/differentiation
,WPC 470 FINAL EXAM NEWEST BUNDLE 2024 EXAM ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
The chief executive officer (CEO) and other top-level managers often involve other people to develop the
mission statement because:
a.the mission deals more directly with product markets and customers.
b.it is viewed as a task that can easily be delegated.
c.the mission deals more directly with capital markets and shareholders.
d.forming the mission is typically not the final responsibility of the CEO or other top-level managers. -
(answer) The mission deals more directly with product markets and customers
A firm should outsource only activities where it:
a.has the probability of developing core competencies.
b.has developed the ability to innovate.
c.cannot match up a value chain activity with a support function.
d.cannot create value or where it is at a substantial disadvantage compared to competitors. - (answer)
cannot create value or where it is at a substantial disadvantage compared to competitiors
Which of the following strategies helps a firm concentrate on understanding its customers and their
needs with greater clarity as a foundation for innovation?
a.Market segmentation strategy
b.Business model strategy
c.Digital strategy
d.Cost leadership strategy - (answer) Digital strategy
When a firm earns below-average returns, it:
a.is able to maximize the interests of all stakeholders.
b.should reward those stakeholders who have the least power.
c.should try to minimize the amount of support lost from stakeholders.
d.should treat all stakeholders the same. - (answer) should minimize the amount of support lost from
stakeholders
,WPC 470 FINAL EXAM NEWEST BUNDLE 2024 EXAM ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
Which of the following statements about a flexible manufacturing system (FMS) is NOT true?
a..Used properly, an FMS allows the firm to increase its effectiveness in responding to changes in its
customers' needs, while retaining low-cost advantages and consistent product quality.
b.An FMS is a computer-controlled process that allows firms to produce a variety of products in
moderate, flexible quantities with a minimum of manual intervention.
c.The goal of an FMS is to eliminate the "low cost versus product variety" trade-off that is inherent in
traditional manufacturing technologies.
d.An FMS allows a manufacturer to connect with its suppliers, distributors, and customers, which
enables it to satisfy customer expectations in terms of product quality and delivery speed. - (answer)
An FMS allows a manufacturer to connect with its suppliers, distributors, and customers, which enables
it to satisfy customer expectations in terms of product quality and delivery speed.
Which of the following statements about a firm's resources and capabilities is true?
a.All of a firm's resources and capabilities have the potential to be the foundation for a competitive
advantage.
b.It is difficult to achieve and sustain a competitive advantage based on resources alone.
c.As a source of competitive advantage, a capability must be exceedingly complex to understand and
manage.
d.When a resource is rare and valuable, it becomes a core competency. - (answer) It is difficult to
achieve and sustain a competitive advantage based on resources alone
When examining the component of Future Objectives for a competitor analysis, which of the following is
NOT a question that is addressed?
a.How do our goals compare with our competitors' goals?
b.Where will emphasis be placed in the future?
c.What is the attitude toward risk?
d.What is our future break-even point? - (answer) What is our future break-even point?
A _____ competitive advantage exists only when competitors are unable to duplicate the benefits of a
firm's strategy or when they lack the resources to attempt imitation.
a.profitable
b.temporary
, WPC 470 FINAL EXAM NEWEST BUNDLE 2024 EXAM ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
c.rare
d.sustainable - (answer) sustainable
Powerful customers can force a cost leader to reduce its prices, but not below the level at which the cost
leader's:
a.next-most-efficient industry competitor can earn average returns.
b.least efficient industry competitor can earn average returns.
c.next-most-efficient industry competitor can earn above-average returns.
d.next-most-efficient industry competitor can earn below-average returns. - (answer) next-most-
efficient industry competitor can earn average returns.
A firm combines individual tangible and intangible resources to create:
a.assets.
b.capabilities.
c.competencies.
d.advantages. - (answer) capabilities
The main competitive advantage of a particular major U.S. technology firm is sourcing and procurement
of raw materials. This company is facing increasing competition on price and is strongly considering
outsourcing as a means of reducing costs. The LAST function this firm should consider outsourcing is:
a.operations.
b.supply-chain management.
c.research and development.
d.distribution. - (answer) Supply chain management
Which of the following statements about a firm's customers is true?
a.Customers are the most obvious stakeholders, at least in U.S. organizations.
b.Customers are part of its capital market stakeholders.
c.Customers are more important than its other product market stakeholders.
CORRECT DETAILED ANSWERS
Wallingford Company is trying to determine optimal ways to collect and distribute knowledge
throughout the firm. This is an activity for which support function in the value chain?
a.Human resources
b.Finance
c.Management information systems
d.Distribution - (answer) Management Information Systems
Vendors across the country offer sunglasses that look virtually identical to those made by Chanel, Prada,
Gucci, and other luxury brands—including the trademark logos—but cost far less. These products are the
result of:
a.competition.
b.imitation.
c.counterfeiting.
d.evolving consumer preferences. - (answer) counterfeiting
JoAnn Tucker recently took over as Chief Executive Officer (CEO) of Burger-Rama, Inc. Burger-Rama has
seen declining profits over the past five years and has struggled to remain competitive in the fast-food
industry. In order to achieve strategic competitiveness, JoAnn must:
a..conduct training programs and hire educated and experienced employees.
b.invest in sophisticated technology in relevant knowledge areas.
c.fire the current board of directors and start afresh.
d.shift the company's focus to marketing and develop an extensive advertising campaign. - (answer)
conduct training programs and hire educated and experienced employees
Firms failing to perform the value-chain activities and support functions in an optimum manner when
implementing the _____ strategy become "stuck in the middle."
a.cost leadership
b.focus
c.differentiation
d.integrated cost leadership/differentiation - (answer) integrated cost leadership/differentiation
,WPC 470 FINAL EXAM NEWEST BUNDLE 2024 EXAM ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
The chief executive officer (CEO) and other top-level managers often involve other people to develop the
mission statement because:
a.the mission deals more directly with product markets and customers.
b.it is viewed as a task that can easily be delegated.
c.the mission deals more directly with capital markets and shareholders.
d.forming the mission is typically not the final responsibility of the CEO or other top-level managers. -
(answer) The mission deals more directly with product markets and customers
A firm should outsource only activities where it:
a.has the probability of developing core competencies.
b.has developed the ability to innovate.
c.cannot match up a value chain activity with a support function.
d.cannot create value or where it is at a substantial disadvantage compared to competitors. - (answer)
cannot create value or where it is at a substantial disadvantage compared to competitiors
Which of the following strategies helps a firm concentrate on understanding its customers and their
needs with greater clarity as a foundation for innovation?
a.Market segmentation strategy
b.Business model strategy
c.Digital strategy
d.Cost leadership strategy - (answer) Digital strategy
When a firm earns below-average returns, it:
a.is able to maximize the interests of all stakeholders.
b.should reward those stakeholders who have the least power.
c.should try to minimize the amount of support lost from stakeholders.
d.should treat all stakeholders the same. - (answer) should minimize the amount of support lost from
stakeholders
,WPC 470 FINAL EXAM NEWEST BUNDLE 2024 EXAM ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
Which of the following statements about a flexible manufacturing system (FMS) is NOT true?
a..Used properly, an FMS allows the firm to increase its effectiveness in responding to changes in its
customers' needs, while retaining low-cost advantages and consistent product quality.
b.An FMS is a computer-controlled process that allows firms to produce a variety of products in
moderate, flexible quantities with a minimum of manual intervention.
c.The goal of an FMS is to eliminate the "low cost versus product variety" trade-off that is inherent in
traditional manufacturing technologies.
d.An FMS allows a manufacturer to connect with its suppliers, distributors, and customers, which
enables it to satisfy customer expectations in terms of product quality and delivery speed. - (answer)
An FMS allows a manufacturer to connect with its suppliers, distributors, and customers, which enables
it to satisfy customer expectations in terms of product quality and delivery speed.
Which of the following statements about a firm's resources and capabilities is true?
a.All of a firm's resources and capabilities have the potential to be the foundation for a competitive
advantage.
b.It is difficult to achieve and sustain a competitive advantage based on resources alone.
c.As a source of competitive advantage, a capability must be exceedingly complex to understand and
manage.
d.When a resource is rare and valuable, it becomes a core competency. - (answer) It is difficult to
achieve and sustain a competitive advantage based on resources alone
When examining the component of Future Objectives for a competitor analysis, which of the following is
NOT a question that is addressed?
a.How do our goals compare with our competitors' goals?
b.Where will emphasis be placed in the future?
c.What is the attitude toward risk?
d.What is our future break-even point? - (answer) What is our future break-even point?
A _____ competitive advantage exists only when competitors are unable to duplicate the benefits of a
firm's strategy or when they lack the resources to attempt imitation.
a.profitable
b.temporary
, WPC 470 FINAL EXAM NEWEST BUNDLE 2024 EXAM ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
c.rare
d.sustainable - (answer) sustainable
Powerful customers can force a cost leader to reduce its prices, but not below the level at which the cost
leader's:
a.next-most-efficient industry competitor can earn average returns.
b.least efficient industry competitor can earn average returns.
c.next-most-efficient industry competitor can earn above-average returns.
d.next-most-efficient industry competitor can earn below-average returns. - (answer) next-most-
efficient industry competitor can earn average returns.
A firm combines individual tangible and intangible resources to create:
a.assets.
b.capabilities.
c.competencies.
d.advantages. - (answer) capabilities
The main competitive advantage of a particular major U.S. technology firm is sourcing and procurement
of raw materials. This company is facing increasing competition on price and is strongly considering
outsourcing as a means of reducing costs. The LAST function this firm should consider outsourcing is:
a.operations.
b.supply-chain management.
c.research and development.
d.distribution. - (answer) Supply chain management
Which of the following statements about a firm's customers is true?
a.Customers are the most obvious stakeholders, at least in U.S. organizations.
b.Customers are part of its capital market stakeholders.
c.Customers are more important than its other product market stakeholders.
