Mgt 4893 QUIZZES WITH CORRECT
ANSWERS.
Which of the following is not an example of informal "rules of the game"? - Answer laws
When assessing which component of the macroenvironment is likely to be most important in
the future, the strategist might consider? - Answer All of the above
Which of the following is NOT a component of the Porter's Five Forces Analysis? - Answer
Power of Leadership
True or False, when the strategist undertakes a Porter's Five Forces analysis, they are taking the
perspective of the entire industry, not just a firm within that industry. - Answer true
True or False, the North American Industry Classification System (NAICS) and the Standard
Industry Classification (SIC) codes are tools the strategist can use to determine a firm's
customers. - Answer false
True or False, an internal analysis is the same thing as a SWOT analysis. - Answer False
True or False, capabilities are a firm's capacity for deploying resources to pursue its goals. -
Answer true
True or False, competencies can be thought of as interactions between the firm's resources and
capabilities within a specific functional division of the firm. - Answer false
Firms are expected to gain superior returns when they are comprised of resources, capabilities
and competencies that are: - Answer Rare
Inimitable (costly to imitate)
Valuable
All of the above (correct)
The goal of the Balanced Scorecard is to: - Answer utilize financial metrics to develop the
firm's strategy.
search for the winning blend of elements that align the firm's unique internal environment with
its distinct external context (correct)
, consider only nonfinancial factors that affect corporate performance.
all of the above
True or False, business strategy is related to the competitive position that a firm seeks to obtain
within its industry or market. - Answer true
True or False, a cost-based advantage occurs when the firm is able to lower its overall costs
without affecting its customer's willingness to pay for its product or service. - Answer true
True or False, to achieve a cost-based advantage, the firm must be completely focused on
managing its costs and unwilling to make long-term investments? - Answer false
An activity analysis: - Answer Allows the strategist to break a firm down into discrete activities
or processes and then examine how each contributes to the firm's relative cost position or
comparative willingness to pay
Which of the following is not a phase of the industry life cycle? - Answer death
True or False, a firm that seeks to attain a differentiation-based advantage is focused on
charging a price premium for a distinct product or service. - Answer True
A business strategy seeking a differentiation-based advantage attempts: - Answer to provide a
unique product or service at a premium price for consumers
True or False, in a differentiation-based focus strategy, success comes from providing the lowest
costs to a target customer segment. - Answer False
Which of the following is a component of a differentiation-based activity analysis:
Construct a Value Chain
Identify Drivers of Uniqueness
Align Drivers of Uniqueness with Customer Expectations
All of the above - Answer All of the Above
True or False, the industry life cycle represents the cycles that an industry goes through. -
Answer true
ANSWERS.
Which of the following is not an example of informal "rules of the game"? - Answer laws
When assessing which component of the macroenvironment is likely to be most important in
the future, the strategist might consider? - Answer All of the above
Which of the following is NOT a component of the Porter's Five Forces Analysis? - Answer
Power of Leadership
True or False, when the strategist undertakes a Porter's Five Forces analysis, they are taking the
perspective of the entire industry, not just a firm within that industry. - Answer true
True or False, the North American Industry Classification System (NAICS) and the Standard
Industry Classification (SIC) codes are tools the strategist can use to determine a firm's
customers. - Answer false
True or False, an internal analysis is the same thing as a SWOT analysis. - Answer False
True or False, capabilities are a firm's capacity for deploying resources to pursue its goals. -
Answer true
True or False, competencies can be thought of as interactions between the firm's resources and
capabilities within a specific functional division of the firm. - Answer false
Firms are expected to gain superior returns when they are comprised of resources, capabilities
and competencies that are: - Answer Rare
Inimitable (costly to imitate)
Valuable
All of the above (correct)
The goal of the Balanced Scorecard is to: - Answer utilize financial metrics to develop the
firm's strategy.
search for the winning blend of elements that align the firm's unique internal environment with
its distinct external context (correct)
, consider only nonfinancial factors that affect corporate performance.
all of the above
True or False, business strategy is related to the competitive position that a firm seeks to obtain
within its industry or market. - Answer true
True or False, a cost-based advantage occurs when the firm is able to lower its overall costs
without affecting its customer's willingness to pay for its product or service. - Answer true
True or False, to achieve a cost-based advantage, the firm must be completely focused on
managing its costs and unwilling to make long-term investments? - Answer false
An activity analysis: - Answer Allows the strategist to break a firm down into discrete activities
or processes and then examine how each contributes to the firm's relative cost position or
comparative willingness to pay
Which of the following is not a phase of the industry life cycle? - Answer death
True or False, a firm that seeks to attain a differentiation-based advantage is focused on
charging a price premium for a distinct product or service. - Answer True
A business strategy seeking a differentiation-based advantage attempts: - Answer to provide a
unique product or service at a premium price for consumers
True or False, in a differentiation-based focus strategy, success comes from providing the lowest
costs to a target customer segment. - Answer False
Which of the following is a component of a differentiation-based activity analysis:
Construct a Value Chain
Identify Drivers of Uniqueness
Align Drivers of Uniqueness with Customer Expectations
All of the above - Answer All of the Above
True or False, the industry life cycle represents the cycles that an industry goes through. -
Answer true
