MGT 487 Final Exam Questions With
Correct Answers
The primary aim of strategic management at the business level is -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-Achieving competitive advantage
| | |
Which of the following is NOT one of Porter's generic strategies? -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-Prospector |
A manufacturing business pursuing cost leadership is likely to - CORRECT
| | | | | | | | | |
ANSWER✔✔-Rely on experience effects to raise efficiency.
| | | | | | |
One aspect of using a cost leadership strategy is that experience effects
| | | | | | | | | | | |
may lead to lower costs. Experience effects are achieved by - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-Repeating a process until a task becomes easier | | | | | | |
A firm can achieve differentiation through all the following means
| | | | | | | | | |
except - CORRECT ANSWER✔✔-Offering lower prices to frequent
| | | | | | | |
customers
, Which statement regarding competitive strategy is true? - CORRECT
| | | | | | | | |
ANSWER✔✔-More than one competitor can successfully pursue a | | | | | | | |
differentiation strategy within the same industry | | | | |
According to Dr. Mueller, a differentiation strategy can be based on -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-All of the above| | | |
A firm following a focus strategy must focus on - CORRECT ANSWER✔✔-
| | | | | | | | | | |
A market segment or group of segments
| | | | | |
In the ______ stage of the industry life cycle, the emphasis on product
| | | | | | | | | | | | |
design is very high, the intensity of a competition is low, and the market
| | | | | | | | | | | | | |
growth rate is low - CORRECT ANSWER✔✔-Introduction
| | | | | |
According to Miles and Snow, a firm that imitates the innovation of the
| | | | | | | | | | | | |
first mover and is the second mover in an industry can be labeled -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-an analyzer | |
a benefit is being the second mover in an industry is - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-Learning from the mistakes of the first mover | | | | | | |
Markets that are volatile and innovation are called - CORRECT
| | | | | | | | | |
ANSWER✔✔-Fast-cycle markets |
Correct Answers
The primary aim of strategic management at the business level is -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-Achieving competitive advantage
| | |
Which of the following is NOT one of Porter's generic strategies? -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-Prospector |
A manufacturing business pursuing cost leadership is likely to - CORRECT
| | | | | | | | | |
ANSWER✔✔-Rely on experience effects to raise efficiency.
| | | | | | |
One aspect of using a cost leadership strategy is that experience effects
| | | | | | | | | | | |
may lead to lower costs. Experience effects are achieved by - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-Repeating a process until a task becomes easier | | | | | | |
A firm can achieve differentiation through all the following means
| | | | | | | | | |
except - CORRECT ANSWER✔✔-Offering lower prices to frequent
| | | | | | | |
customers
, Which statement regarding competitive strategy is true? - CORRECT
| | | | | | | | |
ANSWER✔✔-More than one competitor can successfully pursue a | | | | | | | |
differentiation strategy within the same industry | | | | |
According to Dr. Mueller, a differentiation strategy can be based on -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-All of the above| | | |
A firm following a focus strategy must focus on - CORRECT ANSWER✔✔-
| | | | | | | | | | |
A market segment or group of segments
| | | | | |
In the ______ stage of the industry life cycle, the emphasis on product
| | | | | | | | | | | | |
design is very high, the intensity of a competition is low, and the market
| | | | | | | | | | | | | |
growth rate is low - CORRECT ANSWER✔✔-Introduction
| | | | | |
According to Miles and Snow, a firm that imitates the innovation of the
| | | | | | | | | | | | |
first mover and is the second mover in an industry can be labeled -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-an analyzer | |
a benefit is being the second mover in an industry is - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-Learning from the mistakes of the first mover | | | | | | |
Markets that are volatile and innovation are called - CORRECT
| | | | | | | | | |
ANSWER✔✔-Fast-cycle markets |
