WPC 470 MIDTERM QUESTIONS & 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 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
Which of the following fundamental insights was provided by Porter's five forces
framework from the completion of the Alta Velocidad Española (AVE)? - Answer -Any
of the five forces on its own, if sufficiently strong, can extract industry profitability
Pharmacat Pharma - Answer -low
Which of the following applies to the Strength-Threats quadrant of the SWOT matrix? -
Answer -the local fast-food chain Easy Hot Dogs used its wholesome image to maintain
its competitive advantage against stiff competition
Buzztronic - Answer -Buzztronic will have a resource that is valuable but no longer rare
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
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 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
Which of the following fundamental insights was provided by Porter's five forces
framework from the completion of the Alta Velocidad Española (AVE)? - Answer -Any
of the five forces on its own, if sufficiently strong, can extract industry profitability
Pharmacat Pharma - Answer -low
Which of the following applies to the Strength-Threats quadrant of the SWOT matrix? -
Answer -the local fast-food chain Easy Hot Dogs used its wholesome image to maintain
its competitive advantage against stiff competition
Buzztronic - Answer -Buzztronic will have a resource that is valuable but no longer rare
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
