WPC 470 FINAL EXAM LATEST 2024/2025
ACTUAL TESTBANK
WITH QUESTIONS AND CORRECT
ANSWERS(VERIFIED
ANSWERS)100% GUARANTEED TO PASS!|
ALREADY GRADED A+
Wallingford Company is trying to determine optimal ways to
collect and distribute knowledge throughout the firm. This is an
activity for which support function in the value chain?
a.Human resources
b.Finance
c.Management information systems
d.Distribution - ANSWER-Management Information Systems
Vendors across the country offer sunglasses that look virtually
identical to those made by Chanel, Prada, Gucci, and other
luxury brands—including the trademark logos—but cost far
less. These products are the result of:
a.competition.
b.imitation.
c.counterfeiting.
d.evolving consumer preferences. - ANSWER-counterfeiting
JoAnn Tucker recently took over as Chief Executive Officer (CEO)
of BurgerRama, Inc. Burger-Rama has seen declining profits
over the past five years and has struggled to remain
competitive in the fast-food industry. In order to achieve
strategic competitiveness, JoAnn must:
1.
,a..conduct training programs and hire educated and
experienced employees.
b.invest in sophisticated technology in relevant knowledge
areas.
c.fire the current board of directors and start afresh.
d.shift the company's focus to marketing and develop an
extensive advertising campaign. - ANSWER-conduct training
programs and hire educated and experienced employees
Firms failing to perform the value-chain activities and support
functions in an optimum manner when implementing the _____
strategy become "stuck in the middle."
a.cost leadership
b.focus
c.differentiation
d.integrated cost leadership/differentiation - ANSWER-
integrated cost leadership/differentiation
The chief executive officer (CEO) and other top-level managers
often involve other people to develop the mission statement
because:
a.the mission deals more directly with product markets and
customers.
b.it is viewed as a task that can easily be delegated.
c.the mission deals more directly with capital markets and
shareholders.
d.forming the mission is typically not the final responsibility of
the CEO or other top-level managers. - ANSWER-The mission
deals more directly with product markets and customers
A firm should outsource only activities where it:
1.
,a.has the probability of developing core competencies.
b.has developed the ability to innovate.
c.cannot match up a value chain activity with a support
function.
d.cannot create value or where it is at a substantial
disadvantage compared to competitors. - ANSWER-cannot
create value or where it is at a substantial disadvantage
compared to competitiors
Which of the following strategies helps a firm concentrate on
understanding its customers and their needs with greater
clarity as a foundation for innovation?
a.Market segmentation strategy
b.Business model strategy
c.Digital strategy
d.Cost leadership strategy - ANSWER-Digital strategy
When a firm earns below-average returns, it:
a.is able to maximize the interests of all stakeholders.
b.should reward those stakeholders who have the least power.
c.should try to minimize the amount of support lost from
stakeholders.
d.should treat all stakeholders the same. - ANSWER-should
minimize the amount of support lost from stakeholders
Which of the following statements about a flexible
manufacturing system (FMS) is NOT true?
a..Used properly, an FMS allows the firm to increase its
effectiveness in responding to changes in its customers' needs,
while retaining low-cost advantages and consistent product
quality.
1.
, b.An FMS is a computer-controlled process that allows firms to
produce a variety of products in moderate, flexible quantities
with a minimum of manual intervention.
c.The goal of an FMS is to eliminate the "low cost versus
product variety" tradeoff that is inherent in traditional
manufacturing technologies.
d.An FMS allows a manufacturer to connect with its suppliers,
distributors, and customers, which enables it to satisfy
customer expectations in terms of product quality and delivery
speed. - ANSWER-An FMS allows a manufacturer to connect
with its suppliers, distributors, and customers, which enables it
to satisfy customer expectations in terms of product quality and
delivery speed.
Which of the following statements about a firm's resources and
capabilities is true?
a.All of a firm's resources and capabilities have the potential to
be the foundation for a competitive advantage.
b.It is difficult to achieve and sustain a competitive advantage
based on resources alone.
c.As a source of competitive advantage, a capability must be
exceedingly complex to understand and manage.
d.When a resource is rare and valuable, it becomes a core
competency. - ANSWER-It is difficult to achieve and sustain a
competitive advantage based on resources alone
When examining the component of Future Objectives for a
competitor analysis, which of the following is NOT a question
that is addressed?
a.How do our goals compare with our competitors' goals?
b.Where will emphasis be placed in the future?
c.What is the attitude toward risk?
1.
ACTUAL TESTBANK
WITH QUESTIONS AND CORRECT
ANSWERS(VERIFIED
ANSWERS)100% GUARANTEED TO PASS!|
ALREADY GRADED A+
Wallingford Company is trying to determine optimal ways to
collect and distribute knowledge throughout the firm. This is an
activity for which support function in the value chain?
a.Human resources
b.Finance
c.Management information systems
d.Distribution - ANSWER-Management Information Systems
Vendors across the country offer sunglasses that look virtually
identical to those made by Chanel, Prada, Gucci, and other
luxury brands—including the trademark logos—but cost far
less. These products are the result of:
a.competition.
b.imitation.
c.counterfeiting.
d.evolving consumer preferences. - ANSWER-counterfeiting
JoAnn Tucker recently took over as Chief Executive Officer (CEO)
of BurgerRama, Inc. Burger-Rama has seen declining profits
over the past five years and has struggled to remain
competitive in the fast-food industry. In order to achieve
strategic competitiveness, JoAnn must:
1.
,a..conduct training programs and hire educated and
experienced employees.
b.invest in sophisticated technology in relevant knowledge
areas.
c.fire the current board of directors and start afresh.
d.shift the company's focus to marketing and develop an
extensive advertising campaign. - ANSWER-conduct training
programs and hire educated and experienced employees
Firms failing to perform the value-chain activities and support
functions in an optimum manner when implementing the _____
strategy become "stuck in the middle."
a.cost leadership
b.focus
c.differentiation
d.integrated cost leadership/differentiation - ANSWER-
integrated cost leadership/differentiation
The chief executive officer (CEO) and other top-level managers
often involve other people to develop the mission statement
because:
a.the mission deals more directly with product markets and
customers.
b.it is viewed as a task that can easily be delegated.
c.the mission deals more directly with capital markets and
shareholders.
d.forming the mission is typically not the final responsibility of
the CEO or other top-level managers. - ANSWER-The mission
deals more directly with product markets and customers
A firm should outsource only activities where it:
1.
,a.has the probability of developing core competencies.
b.has developed the ability to innovate.
c.cannot match up a value chain activity with a support
function.
d.cannot create value or where it is at a substantial
disadvantage compared to competitors. - ANSWER-cannot
create value or where it is at a substantial disadvantage
compared to competitiors
Which of the following strategies helps a firm concentrate on
understanding its customers and their needs with greater
clarity as a foundation for innovation?
a.Market segmentation strategy
b.Business model strategy
c.Digital strategy
d.Cost leadership strategy - ANSWER-Digital strategy
When a firm earns below-average returns, it:
a.is able to maximize the interests of all stakeholders.
b.should reward those stakeholders who have the least power.
c.should try to minimize the amount of support lost from
stakeholders.
d.should treat all stakeholders the same. - ANSWER-should
minimize the amount of support lost from stakeholders
Which of the following statements about a flexible
manufacturing system (FMS) is NOT true?
a..Used properly, an FMS allows the firm to increase its
effectiveness in responding to changes in its customers' needs,
while retaining low-cost advantages and consistent product
quality.
1.
, b.An FMS is a computer-controlled process that allows firms to
produce a variety of products in moderate, flexible quantities
with a minimum of manual intervention.
c.The goal of an FMS is to eliminate the "low cost versus
product variety" tradeoff that is inherent in traditional
manufacturing technologies.
d.An FMS allows a manufacturer to connect with its suppliers,
distributors, and customers, which enables it to satisfy
customer expectations in terms of product quality and delivery
speed. - ANSWER-An FMS allows a manufacturer to connect
with its suppliers, distributors, and customers, which enables it
to satisfy customer expectations in terms of product quality and
delivery speed.
Which of the following statements about a firm's resources and
capabilities is true?
a.All of a firm's resources and capabilities have the potential to
be the foundation for a competitive advantage.
b.It is difficult to achieve and sustain a competitive advantage
based on resources alone.
c.As a source of competitive advantage, a capability must be
exceedingly complex to understand and manage.
d.When a resource is rare and valuable, it becomes a core
competency. - ANSWER-It is difficult to achieve and sustain a
competitive advantage based on resources alone
When examining the component of Future Objectives for a
competitor analysis, which of the following is NOT a question
that is addressed?
a.How do our goals compare with our competitors' goals?
b.Where will emphasis be placed in the future?
c.What is the attitude toward risk?
1.
