Identifying Competitive Advantages

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Questions Bank

Business Driven Technology
Identifying Competitive Advantages
Strategic Initiatives for Implementing Competitive Advantages
Measuring the Success of Strategic Initiatives
Organizational Structures That Support Strategic Initiatives
Valuing Organizational Information
Storing Organizational Information-Databases
Accessing Organizational Information-Data Warehouse
Enabling the Organization-Decision Making
Extending the Organization-Supply Chain Management
Building a Customer-Centric Organization-Customer Relationship Management
Integrating the Organization From End to End-Enterprise Resource Planning
Creating Innovative Organizations
Ebusiness
Creating Collaborative Partnerships
Integrating Wireless Technology in Business
Developing Software to Streamline Operations
Methodologies for Supporting Agile Organizations
Managing Organizational Projects
Developing a 21st-Century Organization
Appendix: Business Basics
Appendix: Business Process
Appendix: Hardware and Software Basics
Appendix: Mis Infrastructures
Appendix: Networks and Telecommunications
Appendix: Information Security
Appendix: Ethics
Appendix: Operations Management
Appendix: Sustainable Mis Infrastructures
Appendix: Business Intelligence
Appendix: Global Information Systems
Appendix: Global Trends

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Question 1

Free

True/False

Porter's Five Forces Model outlines the process for a sales strategy.

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Question 2

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True/False

With the Five Forces Model,companies should watch the forces in the market.If the forces are strong,competition generally increases,and if the forces are weak,competition typically decreases.

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Question 3

Free

True/False

A leadership plan that achieves a specific set of goals or objectives is a business strategy.

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Question 4

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True/False

When a company is the first to market with a competitive advantage,it gains a particular benefit known as competitive intelligence.

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Question 5

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True/False

Two ways to reduce buyer power are through switching costs and loyalty programs.

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Question 6

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Mark Peterson identified the Five Forces Model,which analyzes the competitive forces within a business environment.

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Question 7

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There are many challenges to changing doctors,including transferring medical records and losing the doctor-patient relationship along with the doctor's knowledge of the patient's history.Changing doctors provides a great example of switching costs.

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Question 8

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Supplier power is one of Porter's five forces,and it measures the suppliers' ability to influence the prices they charge for supplies (including materials,labor,and services).

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Question 9

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Polaroid had a unique competitive advantage for many years until it forgot to observe competitive intelligence.The firm went bankrupt when people began taking digital pictures.Polaroid provides a great example of Porter's threat of new entrants.

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Question 10

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Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

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Question 11

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Buyer power is the ability of buyers to affect the price they must pay for an item.

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Question 12

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Tiffany & Company competes in the marketplace by offering high-cost custom jewelry.Tiffany & Company is following a broad market and cost leadership strategy.

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Question 13

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Porter has identified three generic business strategies,including focused,broad cost leadership,and switching strategy.

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Question 14

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According to Porter's three generic strategies,Walmart is following a business strategy that focuses on "broad market and low cost."

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Question 15

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Value chain analysis views a firm as a series of business processes that each add value to the product or service.

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Question 16

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A standardized set of activities that accomplish a specific task is called a supply chain component.

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Question 17

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The value chain will group a company's activities into two categories: primary value activities and support value activities.

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Question 18

Multiple Choice

Which of the following is not a typical way that a company would duplicate a competitive advantage?

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Acquiring the new technology.

Copying the business operations.

Hiring away key employees.

Carrying large product inventories.

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Question 19

Multiple Choice

When a company is the first to market with a competitive advantage,this is called a first-mover advantage.All of the following companies were first-movers except ____________ .

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FedEx - the online self-service software

Apple - iPad

Apple - iPod

Microsoft - Bing search engine

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Question 20

Multiple Choice

A business strategy achieves a specific set of goals,which include __________ .

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developing new products or services and attracting new competition

increasing costs and attracting new competition

attracting new customers and developing new products or services

All of these

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