MBA 705 LSUS Mclaughlin exam 2
2023 questions and answers
Micro-localization: ✔✔Customizing products and services to suit the taste and
needs of diverse consumers across a nation or region.
Multiple Strategies: ✔✔A strategic alternative for a larger business unit in which
the organization simultaneously employs more than one of the generic business
strategies.
Process Innovations: ✔✔A business unit's activities that increase the efficiency of
operations and distribution.
Product Innovations: ✔✔A business unit's activities that enhance the
differentiation of its products or services.
Quality: ✔✔The features and characteristics of a product or service that allow it to
satisfy stated or implied needs.
Strategic Group: ✔✔A select group of direct competitors who have similar
strategic profiles.
,Structural Innovations: ✔✔Modifying the structure of the organization and/or the
business model to improve competitiveness.
Value Innovations: ✔✔Modifying products, services, and activities in order to
maximize the value delivered to customers.Business-to-Business (B2B): ✔✔The
segment of electronic commerce whereby businesses utilize the Internet to solicit
transactions from each other.
Business-to-Consumer (B2C): ✔✔The segment of electronic commerce whereby
businesses utilize the Internet to solicit transactions from consumers, also known
as e-tailing.
Business-to-Government (B2G): ✔✔The segment of electronic commerce
whereby businesses utilize the Internet to solicit transactions from government
entities.
Clicks and Bricks: ✔✔The simultaneous application of both electronic ("clicks")
and traditional ("bricks") forms of commerce.
Commoditization: ✔✔A process whereby firms are having a more difficult time
distinguishing their products and services from those of their rivals.
Consumer-to-Business (C2B): ✔✔The segment of electronic commerce whereby
consumers utilize the Internet to solicit transactions from businesses.
, Consumer-to-Consumer (C2C): ✔✔The segment of e-commerce whereby
consumers utilize the Internet to solicit transactions from each other.
Culture: ✔✔A society's generally accepted values, traditions, and patterns of
behavior.
E-tailing: ✔✔Another term for B2C.
Economies of Scale: ✔✔The decline in unit costs of a product or service that
occurs as the absolute volume of production increases.
Environmental Scanning: ✔✔The systematic collection and analysis of information
about relevant macroenvironmental trends.
Information Asymmetry: ✔✔When one party has information that another does
not.
Information Symmetry: ✔✔When all parties to a transaction share the same
information concerning that transaction.
Mass Customization: ✔✔The ability to individualize product and service offerings
to meet specific buyer needs
2023 questions and answers
Micro-localization: ✔✔Customizing products and services to suit the taste and
needs of diverse consumers across a nation or region.
Multiple Strategies: ✔✔A strategic alternative for a larger business unit in which
the organization simultaneously employs more than one of the generic business
strategies.
Process Innovations: ✔✔A business unit's activities that increase the efficiency of
operations and distribution.
Product Innovations: ✔✔A business unit's activities that enhance the
differentiation of its products or services.
Quality: ✔✔The features and characteristics of a product or service that allow it to
satisfy stated or implied needs.
Strategic Group: ✔✔A select group of direct competitors who have similar
strategic profiles.
,Structural Innovations: ✔✔Modifying the structure of the organization and/or the
business model to improve competitiveness.
Value Innovations: ✔✔Modifying products, services, and activities in order to
maximize the value delivered to customers.Business-to-Business (B2B): ✔✔The
segment of electronic commerce whereby businesses utilize the Internet to solicit
transactions from each other.
Business-to-Consumer (B2C): ✔✔The segment of electronic commerce whereby
businesses utilize the Internet to solicit transactions from consumers, also known
as e-tailing.
Business-to-Government (B2G): ✔✔The segment of electronic commerce
whereby businesses utilize the Internet to solicit transactions from government
entities.
Clicks and Bricks: ✔✔The simultaneous application of both electronic ("clicks")
and traditional ("bricks") forms of commerce.
Commoditization: ✔✔A process whereby firms are having a more difficult time
distinguishing their products and services from those of their rivals.
Consumer-to-Business (C2B): ✔✔The segment of electronic commerce whereby
consumers utilize the Internet to solicit transactions from businesses.
, Consumer-to-Consumer (C2C): ✔✔The segment of e-commerce whereby
consumers utilize the Internet to solicit transactions from each other.
Culture: ✔✔A society's generally accepted values, traditions, and patterns of
behavior.
E-tailing: ✔✔Another term for B2C.
Economies of Scale: ✔✔The decline in unit costs of a product or service that
occurs as the absolute volume of production increases.
Environmental Scanning: ✔✔The systematic collection and analysis of information
about relevant macroenvironmental trends.
Information Asymmetry: ✔✔When one party has information that another does
not.
Information Symmetry: ✔✔When all parties to a transaction share the same
information concerning that transaction.
Mass Customization: ✔✔The ability to individualize product and service offerings
to meet specific buyer needs
