Business Strategy
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Question 1
Free
Multiple Choice
The two most prominent sources of competitive advantage for a business are:
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Integration and coordination
Cost and differentiation
People and products
Products and services
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Question 2
Free
Multiple Choice
Businesses that create competitive advantages from one or both of cost and differentiation usually experience ______ profitability within their industry.
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above-average
average
below average
marginal
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Question 3
Free
Multiple Choice
Which of the following are often referred to as generic strategies?
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Cost leadership and differentiation
Market leadership and differentiation
Cost leadership and product pricing
Differentiation and value chain analysis
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Question 4
Free
Multiple Choice
Which of these refers to business strategies that seek to establish long-term competitive advantages by emphasizing and perfecting value chain activities that can be achieved at costs substantially below what competitors are able to match on a sustained basis?
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Differentiation strategies
Grand strategies
Low-cost strategies
Speed-based strategies
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Question 5
Free
Multiple Choice
Business success built on cost leadership requires the business to be able to provide its product or service at a cost _____ what its competitors can achieve.
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at
above
below
equal to
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Question 6
Multiple Choice
Which of the following is NOT a skill or a resource that fosters cost leadership?
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Strong downstream partners
Process engineering skills
Low-cost distribution system
Sustained capital investment and access to capital
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Question 7
Multiple Choice
Organizational requirements to support and sustain cost leadership are:
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Subjective measurements and incentives
Tradition of closeness to key customers
Frequent, detained control reports
Some personnel skilled in sales and operations
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Question 8
Multiple Choice
______ type of innovations support a cost leadership strategy.
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disruptive
process
Product
breakthrough
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Question 9
Multiple Choice
Common resource,skills and organizational requirements to support an "overall cost leadership" generic strategy include all but:
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Sustained access to capital
Subjective measurement and incentives instead of quantitative measures
Process engineering skills
Tight cost control
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Question 10
Multiple Choice
Truly low-cost advantages ______ price competition.
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increase
lessen
strengthen
have no effect on
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Question 11
Multiple Choice
Low-cost advantages should ______ the attractiveness of substitute products.
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increase
lessen
strengthen
have no effect on
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Question 12
Multiple Choice
Which one of the following is NOT a key risk associated with a cost leadership oriented business strategy?
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Many cost-saving activates are easily duplicated
Cost differences seldom decline over time
Exclusive cost leadership can become a trap
Obsessive cost cutting can shrink other competitive advantages involving key product attributes
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Question 13
Multiple Choice
Cost differences often ____ over time.
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increase
decline
strengthen
have no effect on
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Question 14
Multiple Choice
__________ requires that the business have substantial advantages that allow it to provide buyers with something uniquely valuable to them.
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Cost strategy
Integration
Differentiation
Speed-based strategy
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Question 15
Multiple Choice
Rivalry is ____ when a business successfully differentiates itself.
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increased
reduced
strengthened
confronted
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Question 16
Multiple Choice
Which of the following is NOT a skill or a resource that fosters differentiation?
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Process engineering skills
Strong cooperation for channels
Product engineering
Creative talent and flair
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Question 17
Multiple Choice
Skills and resources that foster differentiation are:
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Strong marketing skills
Sustained capital investment and access to capital
Minimal investment in product engineering and basic research
Products designed for ease of delivery
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Question 18
Multiple Choice
Skills and resources that foster differentiation are:
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Product engineering skills
Sustained capital investment and access to capital
Minimal investment in product engineering and basic research
Products designed for ease of delivery
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Question 19
Multiple Choice
Common resources,skills and organizational requirements to support a "differentiation" generic strategy include all but:
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Strong marketing abilities
Product engineering
Strong coordination among R&D, product development and marketing
Low-cost distribution system
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Question 20
Multiple Choice
Organizational requirements to support and sustain differentiation activities include which of these?
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Frequent, detailed control reports
Structured organization and responsibilities
Tradition of closeness to key customers
Incentives based on meeting strict, quantitative targets
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