Assignment 2Assignment

Using Porter's Five Forces model, drag each item below to the correct location on the figure. a) Competition b) New Sky Taxi c) Bus or Train d) Planes and Unionized Workers e) Travelocity.com, Kayak. com

A) Competion- Rivalry among Existing Competitors b) New Sky Taxi- Threat of New Entrants c) Bus or Train - Threat of Substitute Products or Services d) Planes and Unionized Workers- Supplier Power e) Travelocity.com, Kayak.com- Buyer Power

Assume you are in the business of producing and selling cars. If you could produce more cars with the same input what would happen to your productivity and profits assuming the price of your cars remains the same? A) Decrease in productivity, decrease in profits B) Increase in productivity, increase in profits C) Increase in productivity, decrease in profits D) Decrease in productivity, increase in profits

B) Increase in productivity, increase in profits

Assume you are in the business of producing and selling hamburgers. If you could produce more hamburgers with the same input what would happen to your productivity and profits assuming the price of your hamburgers remains the same? Multiple Choice Increase in productivity, increase in profits Increase in productivity, decrease in profits Decrease in productivity, increase in profits Decrease in productivity, decrease in profits

Increase in productivity, increase in profits

Complete the sample SWOT analysis by dragging each label to its appropriate place.

Strength and Opportunities are considered to be helpful for any organization as it helps them to achieve their goal for the long term. Opportunities provide the chances to improve themselves from their competitors. As they are helpful, the strength and opportunities have to be clearly identified in order to improve or utilize them. Weakness and Threats are considered to be harmful as they limit the growth of the organization. The weakness and threats should be identified in order to eliminate or minimize them so that the organization can sustain itself in the market for the long term. Strengths and Weaknesses are internal factors as they are determined within the internal environment of the organization. Self-assessment is required to identify strengths and weaknesses and only the organization or the management of the organization is responsible to maintain or improve the strengths or to eliminate or minimize the weaknesses. Opportunities and Threats are external factors as they depend on the external environment. This can only be identified with the help of market research or forecasting techniques and will not be 100% accurate.Strength and Opportunities are considered to be helpful for any organization as it helps them to achieve their goal for the long term. Opportunities provide the chances to improve themselves from their competitors. As they are helpful, the strength and opportunities have to be clearly identified in order to improve or utilize them. Weakness and Threats are considered to be harmful as they limit the growth of the organization. The weakness and threats should be identified in order to eliminate or minimize them so that the organization can sustain itself in the market for the long term. Strengths and Weaknesses are internal factors as they are determined within the internal environment of the organization. Self-assessment is required to identify strengths and weaknesses and only the organization or the management of the organization is responsible to maintain or improve the strengths or to eliminate or minimize the weaknesses. Opportunities and Threats are external factors as they depend on the external environment. This can only be identified with the help of market research or forecasting techniques and will not be 100% accurate.

Drag the stakeholder to the corresponding interests. a) Employees b) Partners/ Suppliers c) Shareholders/ Investors d) Customers e) Organization f) Community g) Government

The current options are as below · Employees = Fair compensation, job security, ethical conduct · Shareholders/investors = Maximize profits, grow market share · Organization = center blue circle · Customers = exceptional customer service, high quality products · Partners/suppliers = Reliable contracts, ethical materials handling · Government = Adherence to regulations/laws, increase employment · Community = Professional associations, ethical recycling

Why is there generally a gap between IT personnel and business personnel? a) All of these are correct. b) differing vocabularies c) differing expertise d) differing experiences

a) All of these are correct.

Toby Bertram is an incoming freshman at your college. Toby is frustrated by the cost of books, tuition, and expenses, and he also needs to purchase a rather expensive laptop. In an effort to save money, Toby begins a Facebook group finding other college students who need to purchase laptops. Soon, Toby's Facebook group has close to 100,000 students. Toby decides to collectively approach different computer companies to see if his group qualifies for a special discount. What business strategy is Toby using to purchase laptops? a) Increasing buyer power b) Collecting business intelligence c) Decreasing entry barriers d) Purchasing a substitute product

a) Increasing buyer power

Which of the following describes how a company can reduce the threat of substitute products or services? a) Offer additional value through wider product distribution. b) Offer less value making the product far more generic and similar to the competition. c) Market the product to less than ten customers. d) Ignore competitive forces.

a) Offer additional value through wider product distribution.

Some industries' competition is much more intense than others. Retail grocery stores such as Kroger, Safeway, and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete. What is this an example of in terms of Porter's Five Forces? a) Rivalry among existing competitors b) Rivalry among new entrants c) Threat of substitute products or services d) Buyer power

a) Rivalry among existing competitors

Value Added a) Support Value Activities b) Primary Value Activities

a) Support Value Activities - Firm Infrastructure -Human Resource Management - Technology Development - Procurement b) Primary Value Activities -Receive and Store Raw Materials - Deliver the product or Service -Market and Sell the Product or Service -Service After the Sale

Your boss, Pam Anderson, has asked you to analyze the music industry using Porter's Five Forces Model. Which of the following represents buyer power in the music industry? a) Walmart, Target, iTunes b) Game systems like Wii, social networks like Facebook c) Independent record labels d) Established record labels like EMI, Sony, Universal

a) Walmart, Target, iTunes

In analyzing Neiman Marcus, which of Porter's three generic strategies would you determine that it was following? a) broad differentiation b) focused cost leadership c) focused differentiation d) broad cost leadership

a) broad differentiation

At Zappos, customer loyalty programs are critical for success. Companies use loyalty programs to influence which of Porter's Five Forces? a) buyer power b) threat of new entrants c) rivalry among existing customers d) supplier power

a) buyer power

Choose Porter's Five Forces from the list below. (Check all that apply.) a) buyer power b) supplier power c) threat of substitute products or services d) threat of managers e) threat of new entrants f) rivalry among existing competitors g) business driven globalization h) outbound logistics e) technology development

a) buyer power b) supplier power c) threat of substitute products or services e) threat of new entrants f) rivalry among existing competitors

Barb, a single mother of five children, chooses to go to Payless Shoes to purchase her children's shoes rather than shopping at Zappos.com. This is an example of which of Porter's Five Forces? a) rivalry among existing competitors b) supplier power c) threat of new entrants d) MIS

a) rivalry among existing competitors

Zappos packs and ships between 30,000 and 60,000 shoes every day. This is an example of _____________ in Porter's Five Forces. a) supplier power b) rivalry among existing customers c) threat of substitute products or services d) threat of new entrants

a) supplier power

BigFoot.com is a new online shoe retailer that just hit the market. If a customer chooses to shop at BigFoot.com rather than Zappos, this is an example of which of Porter's Five Forces? a) threat of new entrants b) MIS c) supplier power d) threat of substitute products or service

a) threat of new entrants

Kelly Howard works for Beulah's Boutiques selling high-end jeans and purses. Clothing Retail Services is the current market leader in Kelly's city. Kelly has recently been approached by Scott Jeans Co. with an opportunity to run its corporate nationwide marketing and sales division. Kelly decides to jump at the opportunity! Scott Jeans is attempting to gain a competitive ________ by stealing its competitor's key employees. a) Loyalty b) Advantage c) Power d) Entry barrier

b) Advantage

Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales. Which of the following are potential pressures that can hurt sales? a) New market entrants can steal potential investment capital b) All of the above are potential pressures that can hurt sales c) Substitute products can steal customers d) Influential suppliers can drive down profits by charging higher prices for supplies

b) All of the above are potential pressures that can hurt sales

Which of the following is not a typical way that a company would duplicate a competitive advantage? a) Copying the business operations. b) Carrying large product inventories. c) Acquiring the new technology. d) Hiring away key employees.

b) Carrying large product inventories.

Updating business strategies is a continuous undertaking as internal and external environments ________. a) Remain stagnant b) Rapidly change c) Become less competitive

b) Rapidly change

Where is Zappos competing in terms of Porter's three generic strategies? a) high-cost broad market b)low-cost narrow market c) high-cost narrow market d) low-cost broad market

b) low-cost narrow market

Which of the following represents the order of priority for the three primary organizational key resources? a) information, information technology, people b) people, information, information technology c) people, information technology, information d) information, people, information technology

b) people, information, information technology

Which of the following is being demonstrated when a company develops unique differences in its products or services with the intent to influence demand? a) switching costs b) product differentiation c) creating entry barrier d) stimulating buyer power e) supplier rivalry

b) product differentiation

What makes customers reluctant to move to another product or service? a) the threat of new entrants the threat of substitute products or services b) switching costs c) differentiated products or services d) entry barrier

b) switching costs

Which of the following offers an example where Porter's five forces are mostly strong and competition is high? a) A ski resort b) All of these c) A dog walking business d) A professional hockey team

c) A dog walking business

When analyzing the book store industry, some of today's businesses compete with different business strategies and cost strategies. Which of the following is using a broad market competitive scope along with a low cost strategy? a) Borders books. b) Any local independent book store that specializes in antique books c) Amazon.com d) Barnes & Noble

c) Amazon.com

Why it is important for employees at 1154 LILL to study management information systems? a) MIS is rarely discussed outside of Fortune 500 companies. b) MIS is everywhere in business, but 1154 LILL employees do not need to understand it because they are working at a start-up. c) MIS is everywhere in business, and you need to understand it if it is going to compete in today's global economy. d) MIS is used only in large businesses due to the massive costs of implementing systems.

c) MIS is everywhere in business, and you need to understand it if it is going to compete in today's global economy.

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a focused strategy? a) Southwest, Horizon, Frontier, JetBlue. b) British Airways, Singapore Airlines, Virgin Atlantic. c) Sky Taxi - a rent by the hour personal plane service. d) All of the choices are correct.

c) Sky Taxi - a rent by the hour personal plane service.

Imagine you are creating a new product to sell in an up-and-coming market. Which of the below statements indicates that it would be easy for you as the new entrants to compete in this market? a) All of these depending on the time of year. b) The threat of new entrants' force is low in the up-and-coming market. c) The threat of new entrants' force is high in the up-and-coming market. d) The threat of new entrants' force is impossible to define in the up-and-coming market.

c) The threat of new entrants' force is high in the up-and-coming market.

Your boss, David Ferrell, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents a substitute product in the soft drink industry? a) Zevia Natural Diet Soda begins selling directly over the Internet. b) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store. c) Vitamin water, fruit juice, and coffee are all beverage options available to consumers. d) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.

c) Vitamin water, fruit juice, and coffee are all beverage options available to consumers.

Which of the following refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts? a) information b) data c) business intelligence d) information technology

c) business intelligence

Which of the following represents the relationship between the functional areas at Chicago Rush? a) independent b) autonomous c) interdependent d) self-sufficient

c) interdependent

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________. Multiple Choice a) Focused strategy, product differentiation b) Focused strategy, cost advantage c) Cost advantage, primary value activities d) Cost advantage, product differentiation

d) Cost advantage, product differentiation

Angela Lewis owns and operates one of the most successful local book stores in Buffalo, called The Bookworm. Each time a customer purchases their 10th book at The Bookworm, they receive a $5 off coupon. What is Angela attempting to create with her $5 off marketing program? a) Increasing buyer power with a loyalty program b) Decreasing supplier power with a differentiated product c) Creating a substitute product d) Reducing buyer power with a loyalty program

d) Reducing buyer power with a loyalty program

Todd Wallace works as the chief knowledge officer for Pennsylvania Lumber Company. He has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue. Todd determines that the best value he can add is by creating a service that offers free next day shipping on any order over $50. Where in the value chain is Todd adding value? a) The primary value activity operations b) The primary value activity inbound logistics c) The primary value activity marketing and sales d) The primary value activity outbound logistics

d) The primary value activity outbound logistics

Imagine you are creating a new product to sell in an up-and-coming market. Which of the following statements indicates that it would be difficult for you to enter this new market? a) The threat of new entrants' force is high in the up-and-coming market b) The threat of new entrants' force is high during the summer months in the up-and-coming market c) All of these depending on the time of year d) The threat of new entrants' force is low in the up-and-coming market

d) The threat of new entrants' force is low in the up-and-coming market

What is a way of monitoring an entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part? a) feedback b) input c) management information systems d) systems thinking

d) systems thinking

Ideal Shoes is a new company that offers in-home shoe customization where a customer can digitally scan his or her entire foot and the company will make custom shoes specific for the customer's foot shape and size. This is an example of which of Porter's Five Forces? a) Porter's three generic strategies b) MIS c) supplier power d) threat of substitute products or services

d) threat of substitute products or services

Rivalry among existing competitors is __________ when competition is fierce in a market and __________ when competitors are more complacent. Multiple Choice low; high low; low high; low below average; above average high; high

high; low