MGT 8803 SUPPLY CHAIN EXAM Questions with
100% Correct Answers | Verified | Updated
(Actual Exam)
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Terms in this set (59)
Strategy can be best described as superior performance in the markets in which the
the goal directed actions to gain firm operates
and sustain ___?
- high performance in advancing
industry capabilities
- superior performance in the
markets in which the firm operates
- long term financial profits and
economic viability
- operational improvements and
product advancements
- the earth's environment and the
well-being of the communities in
which the firm operates
,According to Michael Porter the choosing what not to do
essence of strategy is ______.
- leveraging operational and
marketing effectiveness to create
competitive advantage
- choosing what not to do
- maximizing ROI while driving cost
of capital down
- copying what works from
competitors and avoiding what
doesn't work
- aligning the external market
environment with the firm's business
model
True/False: A criticism of the True
Traditional Top-Down approach to
strategic planning is that
management assesses the external
environment in terms of fit to the
firm's current capabilities rather
than thinking more "outside the
box" when formulating future
strategies.
Consider both statements. Only statement 1 is True
- Statement 1: Competitive
advantage is always judged relative
to other competitors in the same
industry or judged relative to
industry average.
- Statement 2: Regardless of cost, a
differentiation strategy will always
result in a competitive advantage if
the firm can charge a premium
price for its products.
, All of the following below are economies of scale
drivers that can create a
differentiation advantage and a
greater willingness to pay except
one. Select the one that does not
belong on the list:
- brand
- existence of complements
- economies of scale
- customer experience
- product features
- product performance
Which Statement below is true? To obtain a competitive advantage a firm must
either create more value for customers while
- Cost leadership is the most keeping its costs comparable to competitors, or
common generic strategy for firms it must provide value equivalent to competitors
focused on niche markets but at a lower cost.
- A firm is said to have a sustainable
competitive advantage if it can
consistently earn a profit every
kayear for a prolonged period of
time
- To obtain a competitive
advantage a firm must either create
more value for customers while
keeping its costs comparable to
competitors, or it must provide
value equivalent to competitors but
at a lower cost.
- A firm that is charging the lowest
price relative to its competitors will
always be pursuing a cost
leadership strategy
- Bogus question: All of the above
statements are true statements
100% Correct Answers | Verified | Updated
(Actual Exam)
Save
Terms in this set (59)
Strategy can be best described as superior performance in the markets in which the
the goal directed actions to gain firm operates
and sustain ___?
- high performance in advancing
industry capabilities
- superior performance in the
markets in which the firm operates
- long term financial profits and
economic viability
- operational improvements and
product advancements
- the earth's environment and the
well-being of the communities in
which the firm operates
,According to Michael Porter the choosing what not to do
essence of strategy is ______.
- leveraging operational and
marketing effectiveness to create
competitive advantage
- choosing what not to do
- maximizing ROI while driving cost
of capital down
- copying what works from
competitors and avoiding what
doesn't work
- aligning the external market
environment with the firm's business
model
True/False: A criticism of the True
Traditional Top-Down approach to
strategic planning is that
management assesses the external
environment in terms of fit to the
firm's current capabilities rather
than thinking more "outside the
box" when formulating future
strategies.
Consider both statements. Only statement 1 is True
- Statement 1: Competitive
advantage is always judged relative
to other competitors in the same
industry or judged relative to
industry average.
- Statement 2: Regardless of cost, a
differentiation strategy will always
result in a competitive advantage if
the firm can charge a premium
price for its products.
, All of the following below are economies of scale
drivers that can create a
differentiation advantage and a
greater willingness to pay except
one. Select the one that does not
belong on the list:
- brand
- existence of complements
- economies of scale
- customer experience
- product features
- product performance
Which Statement below is true? To obtain a competitive advantage a firm must
either create more value for customers while
- Cost leadership is the most keeping its costs comparable to competitors, or
common generic strategy for firms it must provide value equivalent to competitors
focused on niche markets but at a lower cost.
- A firm is said to have a sustainable
competitive advantage if it can
consistently earn a profit every
kayear for a prolonged period of
time
- To obtain a competitive
advantage a firm must either create
more value for customers while
keeping its costs comparable to
competitors, or it must provide
value equivalent to competitors but
at a lower cost.
- A firm that is charging the lowest
price relative to its competitors will
always be pursuing a cost
leadership strategy
- Bogus question: All of the above
statements are true statements
