MGMT 449 ExaM 1 STudy GuidE NEWEST 2026 aCTuaL ExaM QuESTiONS aNd
CORRECT aNSWERS (VERiFiEd) | LaTEST uPdaTE 2026/2027 | GRadEd a+ |
BRaNd NEW | 100% GuaRaNTEEd PaSS
Bargaining Power of Buyers - ANSWER-the threat that buyers may force down
prices, bargain for higher quality or more services, and play competitors against
each other
Backward Integration - ANSWER-A form of vertical integration that involves the
purchase of suppliers.
Forward Integration - ANSWER-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 - ANSWER-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 - ANSWER-a situation in which multiple players interact, and
winners win only by taking from other players
Strategic Groups - ANSWER-clusters of firms that share similar strategies
Value Chain Analysis - ANSWER-a strategic analysis of an organization that uses
value-creating activities
Primary Activities - ANSWER-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 - ANSWER-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 - ANSWER-receiving, storing, and distributing inputs of a
product
Operations - ANSWER-all activities associated with transforming inputs into the
final product form
Generic Strategies - ANSWER-basic types of business level strategies based on
breadth of target market (industry-wide versus narrow market segment) and
type of competitive advantage (low-cost versus uniqueness).
Overall Cost Leadership - ANSWER-a firm's generic strategy based on appeal to
the industry-wide market using a competitive advantage based on low-cost
Differentiation - ANSWER-a firm's generic strategy based on creating
differences in the firm's product or service offering by creating something that
is perceived industry-wide as unique and valued by customers
Focus Strategy - ANSWER-a firm's generic strategy based on appeal to a narrow
market segment within an industry
Experience Curve - ANSWER-the decline in unit costs of production as
cumulative output increases
Competitive Parity - ANSWER-a firm's achievement of similarity or being "on
par" with competitors with respect to low-cost, differentiation, or other strategic
product characteristics
CORRECT aNSWERS (VERiFiEd) | LaTEST uPdaTE 2026/2027 | GRadEd a+ |
BRaNd NEW | 100% GuaRaNTEEd PaSS
Bargaining Power of Buyers - ANSWER-the threat that buyers may force down
prices, bargain for higher quality or more services, and play competitors against
each other
Backward Integration - ANSWER-A form of vertical integration that involves the
purchase of suppliers.
Forward Integration - ANSWER-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 - ANSWER-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 - ANSWER-a situation in which multiple players interact, and
winners win only by taking from other players
Strategic Groups - ANSWER-clusters of firms that share similar strategies
Value Chain Analysis - ANSWER-a strategic analysis of an organization that uses
value-creating activities
Primary Activities - ANSWER-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 - ANSWER-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 - ANSWER-receiving, storing, and distributing inputs of a
product
Operations - ANSWER-all activities associated with transforming inputs into the
final product form
Generic Strategies - ANSWER-basic types of business level strategies based on
breadth of target market (industry-wide versus narrow market segment) and
type of competitive advantage (low-cost versus uniqueness).
Overall Cost Leadership - ANSWER-a firm's generic strategy based on appeal to
the industry-wide market using a competitive advantage based on low-cost
Differentiation - ANSWER-a firm's generic strategy based on creating
differences in the firm's product or service offering by creating something that
is perceived industry-wide as unique and valued by customers
Focus Strategy - ANSWER-a firm's generic strategy based on appeal to a narrow
market segment within an industry
Experience Curve - ANSWER-the decline in unit costs of production as
cumulative output increases
Competitive Parity - ANSWER-a firm's achievement of similarity or being "on
par" with competitors with respect to low-cost, differentiation, or other strategic
product characteristics
