ECON 3303 - Possible Quiz Questions Chapter 2. Questions and Answers.

ECON 3303 - Possible Quiz Questions Chapter 2. Questions and Answers. Chapter 02 - Competing with Information Technology Multiple Choice Questions 1. A strategic information system can be any kind of information system that uses information technology to help an organization _______________. A. gain a competitive advantage B. reduce a competitive disadvantage C. meet strategic enterprise objectives D. all of the choices are correct. 2. A firm can survive and succeed in the long run if it successfully develops strategies to confront the _______________ that shape the structure of competition in its industry. A. technological innovations B. competitive business processes C. competitive forces D. competitive strategies 3. A(n) _______________ strategy is a competitive strategy by which a firm seeks to become a low-cost producer of products and services in the industry. A. low cost leadership B. differentiation C. innovation D. alliance 4. A(n) _______________ strategy is a competitive strategy by which a firm develops ways to differentiate its products and services from those of its competitors. A. low cost leadership B. innovation C. differentiation D. growth 5. A(n) _______________ strategy is a competitive strategy by which a firm develops unique products or services from those of its competitors, or makes radical business changes that may alter the fundamental nature of the industry. A. alliance B. growth C. differentiation D. innovation 6. A(n) _______________ strategy is a competitive strategy by which a firm significantly expands its capacity to produce goods and services, expanding and diversifying in the market. A. alliance B. growth C. differentiation D. innovation