LATEST 2026
Delivery of products or services - Answers A value chain is the sequence of activities that begins with
raw materials.
What result does a value chain end with?
Choose 1 answer
Supply and demand
Operations and logistics
Outsourcing or insourcing
Delivery of products or services
Profit margins are increased. - Answers What happens when an effective value chain is created?
Choose 1 answer
Profit margins are increased.
A mission statement is developed.
Customized products are standardized.
Total quality management is not required.
Analysis of external opportunities and threats - Answers Industry and market analysis, competitor
analysis, and social analysis are examples of which step in the strategic planning process?
Analysis of mission, vision, and goals
Analysis of management implementation
Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses
Strengths - Answers Skilled management, positive cash flow, and well-known brands are examples of
which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
Core competencies - Answers What denotes skills or expertise in an activity that constitutes the roots
of competitiveness in an organization?
Choose 1 answer
Strategic values
Core competencies
Products and services
Opportunities and threats
Suppliers can reduce manufacturing time and increase product quality. - Answers According to
Michael Porter's competitive environment model, how can suppliers influence strategic planning?
Suppliers can reduce the threat from substitute products.
Suppliers can reduce the numbers of new entrants in the market.
Suppliers can reduce manufacturing time and increase product quality.
Suppliers can reduce technological, demographic, and legal threats in the environment.
Differentiation - Answers A company offers unique products in its industry to create a competitive
advantage.
Which type of strategy is the company using?
Valorization
Differentiation
Customization
Standardization
,Vertical integration - Answers Happy Inc. is a leading provider of family entertainment and BCD is a
broadcasting company with news, cable, and entertainment networks. Happy Inc. recently acquired
BCD in hopes of boosting its primary business of family entertainment.
Which type of corporate strategy is represented by Happy Inc.'s purchase of their distribution
network?
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
Strategic vision - Answers A local business has provided services to its customers for 40 years. The
business's mission is "To give our customers the best service in town." The owner of the business has
had a long-standing dream to franchise the business and become the best provider of its service in
the United States.
What describes the owner's dream?
Choose 1 answer
Strategic vision
Strategic mission
Strategic planning
Strategic management
Developing a strategic mission - Answers What is the first step of organizational strategic planning?
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing external opportunities
Six Sigma - Answers The introduction of statistical tools to analyze the causes of product defects is
associated with which quality improvement approach?
Six Sigma
Flexible Process
Customer Process
Quality Customization
To revolutionize key organizational systems and processes - Answers What is the principal idea of
reengineering?
Choose 1 answer
To analyze system failures
To focus on creating two-way exchanges with customers
To revolutionize key organizational systems and processes
To improve total quality in all businesses for the benefit of producers and consumers
Less than 3.4 - Answers How many defects per million are there at Six Sigma, assuming a product or
process is defect-free 99.99966% of the time?
Choose 1 answer
Less than 3.4
Less than 4.4
Less than 5.3
Less than 6.6
To take action to accomplish the transformation - Answers What is the last step to Deming's 14
points of quality management?
To cease dependence on mass inspection
To break down barriers among departments
, To evaluate options provided by management
To take action to accomplish the transformation
Quality Assurance - Answers Process checklists and project audits are components of which
management process?
Choose 1 answer
Quality Control
Quality Assurance
Quality Cooperative
Quality Collaboration
To measure effectiveness of an organization's quality management system - Answers What is the
main objective of an internal quality audit?
To gauge the quality of human resources
To assess the quality of control process failures
To determine the quality of an organization's executive management
To measure effectiveness of an organization's quality management system
Six Sigma - Answers A company is trying to systematically improve processes by eliminating
nonconformity of their products to product specifications. The company believes their continuous
effort to reduce variation in their process outputs is key to their business success.
Which quality process is the company utilizing?
ISO 9000
Six Sigma
Reengineering
Continuous processing
Customer relationship management - Answers Which concept entails all aspects of interaction a
company has with its customers in both sales and service-related environments?
Customer connection society
Customer liaison administration
Customer association organization
Customer relationship management
Sustained competitive advantage - Answers Dr. Ohmae indicates that customer, corporation, and
competitors should be integrated in a strategic triangle.
What does Dr. Ohmae indicate that an organization can obtain by doing this?
Time-based competition
Sustained competitive advantage
Coordination of mutual adjustment
Decentralization of the organization
Intrapreneur - Answers What designates those who take hands-on responsibility for creating
innovation such as new ideas, products, or methods within an organization?
Franchiser
Pacesetter
Intrapreneur
Controller
Creates unique and different products or services - Answers Why is innovation an important element
of entrepreneurship?
Allows the company to meet industry benchmarks
Creates unique and different products or services
Reduces marketing costs for the company
Buffers the impact of changes in the legal environment
Creativity, self-reliance, and ability to adapt - Answers Most successful entrepreneurs exhibit certain
characteristics. Some entrepreneurs are open-minded, able to learn quickly, and skilled at
conceptualizing.
Which entrepreneurial personality trait is this?