Practice quiz -Chapter 5 – 19/21 – 90.48%
1. PESTLE Framework stands for- political, economic,
sociocultural, technological, environmental, and legal
2. Strategy to use high quality as a competitive advantage is
called - Differentiation
3. Which of these is a narrow scope competitive strategy? -
Focused Low Cost
4. Creating value for customers by task oriented quality and
low cost is called - Operational Excellence
5. Strategy to use low cost as a competitive advantage is called
- Cost Leadership
6. Strategizing encompasses what part of the POLC Framework
- Planning
7. Which strategy answers the question of "how should we
compete"? - Business Strategy
8. Which of the Porter's five forces relates to degree of
competition - Rivalry
9. Which of the Porter's five forces relates to ease with which
buyers can switch - Substitutes
10. Which of the Porter's five forces relates to power of buyers in
an industry - Buyer Power
11. When the company makes a new product that appeal to it
present consumer group it is called? - Concentric
Diversification
1. PESTLE Framework stands for- political, economic,
sociocultural, technological, environmental, and legal
2. Strategy to use high quality as a competitive advantage is
called - Differentiation
3. Which of these is a narrow scope competitive strategy? -
Focused Low Cost
4. Creating value for customers by task oriented quality and
low cost is called - Operational Excellence
5. Strategy to use low cost as a competitive advantage is called
- Cost Leadership
6. Strategizing encompasses what part of the POLC Framework
- Planning
7. Which strategy answers the question of "how should we
compete"? - Business Strategy
8. Which of the Porter's five forces relates to degree of
competition - Rivalry
9. Which of the Porter's five forces relates to ease with which
buyers can switch - Substitutes
10. Which of the Porter's five forces relates to power of buyers in
an industry - Buyer Power
11. When the company makes a new product that appeal to it
present consumer group it is called? - Concentric
Diversification
