MSB 201 FINAL EXAM QUESTIONS
AND 100% CORRECT ANSWERS
\.Which of the following is not one of Porter's Five Forces? - ANSWERS✔-Supplier
costs
\.What are the Porter Five Forces? - ANSWERS✔--Threat of new entrants
-Threat of substitutes
-Bargaining power of buyers
-Bargaining power of suppliers
-Competitive rivalry
\.A company's competitor lowers it prices. Which of the Five Forces is impacted? -
ANSWERS✔-Rivalry
\.Companies often try to create barriers to entry that limit the attractiveness of a
business for other firms. This action most impacts which of the Five Forces? -
ANSWERS✔-Threat of new entry
\.A firm with a cost strategy focuses on? - ANSWERS✔-Achieving lower costs than
competitors
, \.A differentiation strategy includes all but which of the following? - ANSWERS✔-
Cost reduction efforts
\.Nordstrom is a high-end fashion retailer. What strategy is the firm likely to use? -
ANSWERS✔-Overall differentiation
\.The four questions of strategy include all but which of the following? -
ANSWERS✔-Buyer power
\.Strategy is? - ANSWERS✔-"The art of the general" for how they will win
\.Suppose your friend wants to become an entrepreneur and makes the following
comment to you:
"I really want to start my own business and turn it into a large corporation some
day!"
Which of the following types of entrepreneurs best matches your friend's desires?
- ANSWERS✔-Growth-oriented classic entrepreneur
\.Types of Entrepreneurs - ANSWERS✔--Classic Entrepreneurs
-Multipreneurs
-Intrapreneurs
-Growth-oriented Entrepreneurs
AND 100% CORRECT ANSWERS
\.Which of the following is not one of Porter's Five Forces? - ANSWERS✔-Supplier
costs
\.What are the Porter Five Forces? - ANSWERS✔--Threat of new entrants
-Threat of substitutes
-Bargaining power of buyers
-Bargaining power of suppliers
-Competitive rivalry
\.A company's competitor lowers it prices. Which of the Five Forces is impacted? -
ANSWERS✔-Rivalry
\.Companies often try to create barriers to entry that limit the attractiveness of a
business for other firms. This action most impacts which of the Five Forces? -
ANSWERS✔-Threat of new entry
\.A firm with a cost strategy focuses on? - ANSWERS✔-Achieving lower costs than
competitors
, \.A differentiation strategy includes all but which of the following? - ANSWERS✔-
Cost reduction efforts
\.Nordstrom is a high-end fashion retailer. What strategy is the firm likely to use? -
ANSWERS✔-Overall differentiation
\.The four questions of strategy include all but which of the following? -
ANSWERS✔-Buyer power
\.Strategy is? - ANSWERS✔-"The art of the general" for how they will win
\.Suppose your friend wants to become an entrepreneur and makes the following
comment to you:
"I really want to start my own business and turn it into a large corporation some
day!"
Which of the following types of entrepreneurs best matches your friend's desires?
- ANSWERS✔-Growth-oriented classic entrepreneur
\.Types of Entrepreneurs - ANSWERS✔--Classic Entrepreneurs
-Multipreneurs
-Intrapreneurs
-Growth-oriented Entrepreneurs
