MGMT 449 EXAM 1 QUESTIONS WITH
100% CORRECT ANSWERS!!
1 of 40
Term
An industry's key success factors can always be deduced by asking
what factors
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buyers are price sensitive because the product represents a significant portion
of their purchasing budget.
, such as product attributes and service characteristics are crucial,
what
resources and competitive capabilities are needed, and what
shortcomings are evident to put a company at a competitive
disadvantage.
it is predicated on competitive moves aimed at appealing to buyers
in ways that set the company apart from rivals.
the proactive efforts of company managers to improve the current
strategy, a need to respond to changing customer requirements
and expectations, and a need to react to fresh strategic
maneuvers on the part of rival firms.
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2 of 40
Definition
building the picture of competition in three steps: (1) identify
the different parties involved, along with specific factors that
bring
about competitive pressures; (2) evaluate how strong the
pressures
stemming from each of the five forces are (strong,
moderate or weak); and (3) determine whether the collective
impact of the five competitive forces is conducive to earning
attractive profits in the industry.
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The company with the highest edge
rating on a given measure has
an implied competitive edge
on that specific
measure, with the size of its
,Which of the following driving
forces would have the least
impact on the attractiveness
of the cosmetics industry?
, Using the five forces
model of competition to
determine the character A company's strategic plan
and strength of the
competitive forces within
a given industry involves
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3 of 40
Term
A company's strategy is not concerned with management's
choices about how to
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develop innovative implement cost-cutting measures
products to disrupt the to maximize profits.
market.
stake out the same
market position as focus on customer service to
successful rival enhance loyalty.
companies.
Don't know?
100% CORRECT ANSWERS!!
1 of 40
Term
An industry's key success factors can always be deduced by asking
what factors
Give this one a try later!
buyers are price sensitive because the product represents a significant portion
of their purchasing budget.
, such as product attributes and service characteristics are crucial,
what
resources and competitive capabilities are needed, and what
shortcomings are evident to put a company at a competitive
disadvantage.
it is predicated on competitive moves aimed at appealing to buyers
in ways that set the company apart from rivals.
the proactive efforts of company managers to improve the current
strategy, a need to respond to changing customer requirements
and expectations, and a need to react to fresh strategic
maneuvers on the part of rival firms.
Don't know?
2 of 40
Definition
building the picture of competition in three steps: (1) identify
the different parties involved, along with specific factors that
bring
about competitive pressures; (2) evaluate how strong the
pressures
stemming from each of the five forces are (strong,
moderate or weak); and (3) determine whether the collective
impact of the five competitive forces is conducive to earning
attractive profits in the industry.
Give this one a try later!
The company with the highest edge
rating on a given measure has
an implied competitive edge
on that specific
measure, with the size of its
,Which of the following driving
forces would have the least
impact on the attractiveness
of the cosmetics industry?
, Using the five forces
model of competition to
determine the character A company's strategic plan
and strength of the
competitive forces within
a given industry involves
Don't know?
3 of 40
Term
A company's strategy is not concerned with management's
choices about how to
Give this one a try later!
develop innovative implement cost-cutting measures
products to disrupt the to maximize profits.
market.
stake out the same
market position as focus on customer service to
successful rival enhance loyalty.
companies.
Don't know?
