WPC480 Quizzes 1-6

Which of the following statements with regard to industry structures is true?

A consolidated industry tends to be more profitable than a fragmented one.

The ________ is a model that links strategy analysis, strategy formulation, and strategy implementation, which together helps managers plan and implement a strategy that can improve performance and result in competitive advantage.

AFI strategy framework

As manager of a major producer of automobile airbags, you have recently introduced the following vision statement: to protect the health of every driver and passenger. How can you ensure that your employees feel invested in and inspired by the firm's vision?

Ask employees for feedback on the vision statement and revise based on their input.

Competitors have found it extremely difficult to imitate Gene Electronics Inc.'s valuable resources, capabilities, or competencies.

Casual ambiguity

The "diagonal assembly system" was a production system pioneered by the automobile company Gogo.

The competitor infringed on Gogo's patent of the "diagonal assembly system."

Hannah is the Chief Operating Officer

Hannah schedules a meeting with the manager of the marketing department and overcomes his skepticism about a new campaign aimed at customers in the 55+ age group. Over the next three months, AppPalace gains 250,000 new users in that group.

The competitive advantage that one firm has will be short-lived in an industry in which

Perfect competition exists

Ivan is the founder of a firm

The self-driving vehicle industry is changing too much for the top-down approach to be effective.

Airbase is a consumer electronics company known for its affordable mobile devices that follows a cost-leadership strategy. In this scenario, Airbase should ideally compare its strategic position with Correct!

a consumer electronics company popular among price-conscious customers.

A firm always has a competitive disadvantage when its return on invested capital is

below the industry average

To initiate a strategic move that allows a firm to open up new and uncontested market space through value innovation, managers must address four key questions when formulating a blue ocean business strategy. These questions focus on

lowering cost and increasing perceived customer benefits.

By selling a laptop at $1,000 for which consumers are willing to pay up to $1,200, a consumer electronics firm makes a profit of $400 per unit. In this scenario, the amount $600, that is ($1200 - $1000) + $400, is the

economic value created

DiscountHaven Inc.

economies of scale

Cloudlink is a file hosting service

freemium

The strategy canvas for movie theaters includes factors such as prices, comfort, customer service, concessions variety, and hours of operation. Which of the following value curves is most likely to represent a theater that successfully positions itself as a differentiator?

high price, high comfort, high customer service, high concessions variety, low hours of operation

Economies of scale are cost advantages that accrue for firms with

larger output

Eon Inc., Electravia Inc., and FC Inc.,

oligarchy

The owners of Puff Ball bakery

open a shop on an inexpensive piece of land near a new mixed-use residential and business district currently under construction.

Burke Furnishings

planned emergence approach.

Competitive rivalry based solely on ________ is destructive to firms as it transfers most of the value created in the industry to the customers.

price-cutting

________ are the legal owners of public companies.

shareholders

The former CEO of Sam's Club,

strategic business unit

Through ________, a firm puts its guiding policy into practice by employing a set of coherent actions.

strategy implementation

A blue ocean strategy differs from a low-cost strategy in that

the intent of a blue ocean strategy is not to be the absolute lowest-cost provider because a blue ocean must also increase perceived value.

Which of the following was a key motivator for participants in the Occupy movement of 2011?

the issue of income disparity

The management of a company is assessing the value of all the tangible resources the company owns. Which of the following will be included in this assessment?

the punch presses that produce parts

Kirsten, a manager, is writing an analysis of her employer's current and possible future revenues. Which of the following could she identify as an economic factor in her firm's external general environment?

the stage of the business cycle that the country is in

The top management at Sunshine Vitamins

triple bottom line

A defining characteristic of the pay-as-you-go business model is that the

users pay for only the services they consume.

when do employees fail to adopt the organizational values of a firm?

when the top managers in the firm are merely paying lip service to the firm's stated values