WPC 480 EXAM QUESTIONS AND ANSWERS
LATEST UPDATE (ALREADY GRADED A+)
A business-level strategy is an integrated and coordinated set of commitments and actions the firm
uses to gain a competitive advantage by exploiting core competencies in:
a. the selection of industries in which the firm will compete.
b. specific product markets.
c. primary value-chain activities.
d. particular geographic locations.
b. specific product markets.
A company competing in a single product market has:
a. no business-level strategy and one corporate-level strategy.
b. one business-level strategy and no corporate-level strategy.
c. more than one business-level strategy.
d. one business-level strategy and one corporate-level strategy.
d. one business-level strategy and one corporate-level strategy.
Firms use the five forces model of competition to identify the __________ of an industry, as measured
by its __________.
a. size; number of competitors
b. globalization; percentage of exports
c. hypercompetition; technology diffusion
d. attractiveness; profitability potential
d. attractiveness; profitability potential
To build social capital whereby resources such as knowledge are transferred across organizations
requires __________ between partners.
a. a contract
b. determination
c. confidence
d. trust
d. trust
One popular approach to taking care of the physical environment is:
a. producing and selling additional green products.
b. lobbying the government to reduce environmental regulations.
c. making donations to the Sierra Club and other environmental organizations.
d. increasing health benefits for employees.
a. producing and selling additional green products.
, The flat-panel television market where prices have come down and competition has become more
stable is best characterized as:
a. standard-cycle.
b. fast-cycle.
c. slow-cycle.
d. competitive rivalry.
a. standard-cycle.
241. Outsourcing is the:
a. spinning off of a value-creating activity to create a new firm.
b. selling of a value-creating activity to other firms.
c. purchase of a value-creating activity from an external supplier.
d. use of computers to obtain value-creating data from the Internet.
c. purchase of a value-creating activity from an external supplier.
When consumers change mobile phone and data service providers, they may be required to maintain
service with the provider for a specified time period. This is an example of a:
a. cost to a producer to exchange equipment in a facility when new technologies emerge.
b. cost of changing the firm's strategic group.
c. one-time cost suppliers incur when selling to a different customer.
d. one-time cost customers incur when buying from a different supplier.
d. one-time cost customers incur when buying from a different supplier.
244. One reason executive judgment can be a particularly important source of competitive advantage
is that judgment:
a. allows a firm to build a strong reputation.
b. gains the loyalty of shareholders.
c. increases human intellectual capacity.
d. allows for superior bundling of resources.
a. allows a firm to build a strong reputation.
Major drivers of competitive behavior include a firm's
a. awareness, mobility, and ambition
b. awards, motivation, and ambition
c. awareness, mobility, and capability
d. awareness, motivation, and capability
d. awareness, motivation, and capability
All competitive advantages have:
a. a limited life.
b. an expiration date.
c. the ability to earn above-average returns indefinitely.
d. the ability to lead to more competitive advantages.
LATEST UPDATE (ALREADY GRADED A+)
A business-level strategy is an integrated and coordinated set of commitments and actions the firm
uses to gain a competitive advantage by exploiting core competencies in:
a. the selection of industries in which the firm will compete.
b. specific product markets.
c. primary value-chain activities.
d. particular geographic locations.
b. specific product markets.
A company competing in a single product market has:
a. no business-level strategy and one corporate-level strategy.
b. one business-level strategy and no corporate-level strategy.
c. more than one business-level strategy.
d. one business-level strategy and one corporate-level strategy.
d. one business-level strategy and one corporate-level strategy.
Firms use the five forces model of competition to identify the __________ of an industry, as measured
by its __________.
a. size; number of competitors
b. globalization; percentage of exports
c. hypercompetition; technology diffusion
d. attractiveness; profitability potential
d. attractiveness; profitability potential
To build social capital whereby resources such as knowledge are transferred across organizations
requires __________ between partners.
a. a contract
b. determination
c. confidence
d. trust
d. trust
One popular approach to taking care of the physical environment is:
a. producing and selling additional green products.
b. lobbying the government to reduce environmental regulations.
c. making donations to the Sierra Club and other environmental organizations.
d. increasing health benefits for employees.
a. producing and selling additional green products.
, The flat-panel television market where prices have come down and competition has become more
stable is best characterized as:
a. standard-cycle.
b. fast-cycle.
c. slow-cycle.
d. competitive rivalry.
a. standard-cycle.
241. Outsourcing is the:
a. spinning off of a value-creating activity to create a new firm.
b. selling of a value-creating activity to other firms.
c. purchase of a value-creating activity from an external supplier.
d. use of computers to obtain value-creating data from the Internet.
c. purchase of a value-creating activity from an external supplier.
When consumers change mobile phone and data service providers, they may be required to maintain
service with the provider for a specified time period. This is an example of a:
a. cost to a producer to exchange equipment in a facility when new technologies emerge.
b. cost of changing the firm's strategic group.
c. one-time cost suppliers incur when selling to a different customer.
d. one-time cost customers incur when buying from a different supplier.
d. one-time cost customers incur when buying from a different supplier.
244. One reason executive judgment can be a particularly important source of competitive advantage
is that judgment:
a. allows a firm to build a strong reputation.
b. gains the loyalty of shareholders.
c. increases human intellectual capacity.
d. allows for superior bundling of resources.
a. allows a firm to build a strong reputation.
Major drivers of competitive behavior include a firm's
a. awareness, mobility, and ambition
b. awards, motivation, and ambition
c. awareness, mobility, and capability
d. awareness, motivation, and capability
d. awareness, motivation, and capability
All competitive advantages have:
a. a limited life.
b. an expiration date.
c. the ability to earn above-average returns indefinitely.
d. the ability to lead to more competitive advantages.
