COB 204 Jewett Exam 1 (100% Accurate Answers)

Value chain correct answers Sum of all activities to produce and deliver a good/service Primary activities in the value chain correct answers Direct activities of producing, selling and delivering outputs Secondary activities in the value chain correct answers are not directly involved in the evolution of a product but instead provide important underlying support for primary activities E.g. management and legal Who is more likely to suffer in a merger primary or secondary? correct answers Secondary think* we dont need this many mangers now Decision process first step correct answers Define problem/goal What do I want to accomplish Cognitive bias correct answers Selective perception "confirmation bias" Stereotyping Cheerleader effect Porter's Five Forces correct answers threat of entry threat of substitute supplier power buyer power competitive rivalry Threat of New Entry correct answers Time and cost of entry Specialist knowledge Economies of scale Cost advantages Technology protection Barriers to entry Threat of Substitutes correct answers substitute performance cost of change Buyer Power correct answers Number of customers Size of each order Differences between competitors Price sensitivity Ability to substitute Cost of changing Supplier Power correct answers number of suppliers