COB 204 Jewett Exam 1 Questions and Answers Already Passed
Value chain - Answers Sum of all activities to produce and deliver a good/service
Primary activities in the value chain - Answers Direct activities of producing, selling and delivering
outputs
Secondary activities in the value chain - 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? - Answers Secondary
think* we dont need this many mangers now
Decision process first step - Answers Define problem/goal
What do I want to accomplish
Cognitive bias - Answers Selective perception "confirmation bias"
Stereotyping
Cheerleader effect
Porter's Five Forces - Answers threat of entry
threat of substitute
supplier power
buyer power
competitive rivalry
Threat of New Entry - Answers Time and cost of entry
Specialist knowledge
Economies of scale
Cost advantages
Technology protection
Barriers to entry
, Threat of Substitutes - Answers substitute performance
cost of change
Buyer Power - Answers Number of customers
Size of each order
Differences between competitors
Price sensitivity
Ability to substitute
Cost of changing
Supplier Power - Answers number of suppliers
size of suppliers
uniqueness of service
your ability to substitute
cost of changing
Competitive Rivalry - Answers number of competitors
quality differences
other differences
switching costs
customer loyalty
Bull Whip Effect - Answers Small changes at the end of the supply chain (customer end) lead to greater
changes as you go back through the supply chain
Structured decision making - Answers Predictable and can be assigned numerical value
E.g. formal education and formulas
Unstructured decision making - Answers experience and general knowledge
Systems thinking - Answers Considers internal and external environment
Abstract thinking - Answers The ability to visualize something that isnt there
Value chain - Answers Sum of all activities to produce and deliver a good/service
Primary activities in the value chain - Answers Direct activities of producing, selling and delivering
outputs
Secondary activities in the value chain - 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? - Answers Secondary
think* we dont need this many mangers now
Decision process first step - Answers Define problem/goal
What do I want to accomplish
Cognitive bias - Answers Selective perception "confirmation bias"
Stereotyping
Cheerleader effect
Porter's Five Forces - Answers threat of entry
threat of substitute
supplier power
buyer power
competitive rivalry
Threat of New Entry - Answers Time and cost of entry
Specialist knowledge
Economies of scale
Cost advantages
Technology protection
Barriers to entry
, Threat of Substitutes - Answers substitute performance
cost of change
Buyer Power - Answers Number of customers
Size of each order
Differences between competitors
Price sensitivity
Ability to substitute
Cost of changing
Supplier Power - Answers number of suppliers
size of suppliers
uniqueness of service
your ability to substitute
cost of changing
Competitive Rivalry - Answers number of competitors
quality differences
other differences
switching costs
customer loyalty
Bull Whip Effect - Answers Small changes at the end of the supply chain (customer end) lead to greater
changes as you go back through the supply chain
Structured decision making - Answers Predictable and can be assigned numerical value
E.g. formal education and formulas
Unstructured decision making - Answers experience and general knowledge
Systems thinking - Answers Considers internal and external environment
Abstract thinking - Answers The ability to visualize something that isnt there
