MGMT 449 EXAM 1 STUDY GUIDE (LATEST UPDATE) REAL
QUESTIONS AND VERIFIED ANSWERS |100% CORRECT |
ALREADY GRADED A
Bargaining Power of Buyers Ans✓✓✓ the threat that buyers may force
down prices, bargain for higher quality or more services, and play
competitors against each other
Backward Integration Ans✓✓✓ A form of vertical integration that
involves the purchase of suppliers.
Forward Integration Ans✓✓✓ a form of vertical integration whereby a
firm expands activities to include control of the direct distribution of its
products
Threat of substitute products or services Ans✓✓✓ the threat of limiting
the potential returns of an industry by placing a ceiling on the prices that
firms in that industry can profitably charge without losing too many
customers to substitute products
Zero Sum game Ans✓✓✓ a situation in which multiple players interact,
and winners win only by taking from other players
Strategic Groups Ans✓✓✓ clusters of firms that share similar strategies
Value Chain Analysis Ans✓✓✓ a strategic analysis of an organization
that uses value-creating activities
, Primary Activities Ans✓✓✓ sequential activities of the value chain that
refer to the physical creation of the product or service, its sale and
transfer to the buyer, and its service after sale, including inbound
logistics, operations, outbound logistics, marketing and sales, and
service.
Support Activities Ans✓✓✓ activities of the value chain that either add
value by themselves or add value through important relationships with
both primary activities and other support activities; including
procurement, technology development, human resource management,
and general administration
Inbound Logistics Ans✓✓✓ receiving, storing, and distributing inputs of
a product
Operations Ans✓✓✓ all activities associated with transforming inputs
into the final product form
Outbound Logistics Ans✓✓✓ collecting, storing, and distributing the
product or service to buyers
Marketing and Sales Ans✓✓✓ activities associated with purchases of
products and services by end users and the inducements used to get them
to make purchases
QUESTIONS AND VERIFIED ANSWERS |100% CORRECT |
ALREADY GRADED A
Bargaining Power of Buyers Ans✓✓✓ the threat that buyers may force
down prices, bargain for higher quality or more services, and play
competitors against each other
Backward Integration Ans✓✓✓ A form of vertical integration that
involves the purchase of suppliers.
Forward Integration Ans✓✓✓ a form of vertical integration whereby a
firm expands activities to include control of the direct distribution of its
products
Threat of substitute products or services Ans✓✓✓ the threat of limiting
the potential returns of an industry by placing a ceiling on the prices that
firms in that industry can profitably charge without losing too many
customers to substitute products
Zero Sum game Ans✓✓✓ a situation in which multiple players interact,
and winners win only by taking from other players
Strategic Groups Ans✓✓✓ clusters of firms that share similar strategies
Value Chain Analysis Ans✓✓✓ a strategic analysis of an organization
that uses value-creating activities
, Primary Activities Ans✓✓✓ sequential activities of the value chain that
refer to the physical creation of the product or service, its sale and
transfer to the buyer, and its service after sale, including inbound
logistics, operations, outbound logistics, marketing and sales, and
service.
Support Activities Ans✓✓✓ activities of the value chain that either add
value by themselves or add value through important relationships with
both primary activities and other support activities; including
procurement, technology development, human resource management,
and general administration
Inbound Logistics Ans✓✓✓ receiving, storing, and distributing inputs of
a product
Operations Ans✓✓✓ all activities associated with transforming inputs
into the final product form
Outbound Logistics Ans✓✓✓ collecting, storing, and distributing the
product or service to buyers
Marketing and Sales Ans✓✓✓ activities associated with purchases of
products and services by end users and the inducements used to get them
to make purchases
