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Mis 02

The document contains 20 multiple choice questions about business strategy concepts like Porter's five forces, competitive advantage, product differentiation, and generic business strategies. It asks the reader to identify whether statements about these topics are true or false. Key concepts assessed include systems thinking, competitive intelligence, supplier power, switching costs, and Porter's three generic strategies of cost leadership, differentiation, and broad market focus.

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Peter
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130 views1 page

Mis 02

The document contains 20 multiple choice questions about business strategy concepts like Porter's five forces, competitive advantage, product differentiation, and generic business strategies. It asks the reader to identify whether statements about these topics are true or false. Key concepts assessed include systems thinking, competitive intelligence, supplier power, switching costs, and Porter's three generic strategies of cost leadership, differentiation, and broad market focus.

Uploaded by

Peter
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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11. An overview of systems thinking includes input, process, output and finances.

 
 
True    False
 
12. A leadership plan that achieves a specific set of goals or objectives is a business
strategy. 
 
True    False
 
13. When a company is the first to market with a competitive advantage, it gains a particular
benefit known as competitive intelligence. 
 
True    False
 
14. Two ways to reduce buyer power is through switching costs and loyalty programs.  
 
True    False
 
15. There are many challenges to changing doctors, including transferring medical records
and losing the doctor–patient relationship along with the doctor's knowledge of the
patient's history. Changing doctors provides a great example of switching costs.

True    False
 
16. Supplier power is one of Porter's five forces, and it measures the suppliers' ability to
influence the prices they charge for supplies (including materials, labour and services).  
 
True    False
 
17. Polaroid had a unique competitive advantage for many years until it forgot to observe
competitive intelligence. The firm went bankrupt when people began taking digital
pictures. Polaroid provides a great example of Porter's threat of new entrants.  
 
True    False
 
18. Product differentiation occurs when a company develops unique differences in its
products or services with the intent to influence demand.  
 
True    False
 
19. Tiffany and Co competes in the marketplace by offering high cost custom jewellery.
Tiffany & Co is following a broad market and cost leadership strategy.

 True    False

 
20. According to Porter's three generic strategies, Hyundai is following a business strategy
that focuses on 'broad market and low cost'.  
 
True    False
 

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