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Exam 2: Identifying Competitive Advantages

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Question 31

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MIS can add value to both primary and support activities within a business.Which of the following is not an example of a company adding value by the use of MIS in a support activity?

A) Netflix creating a business strategy for the video rental market that delivers videos via the mail.
B) The human resources department creates a tracking system to efficiently reward employees based on their performance.
C) Scottrade Corp. creating an online system for employees to track paychecks, benefits, their wellness-rewards program, and other employee benefit items.
D) The University of Forks creates a program to automatically order office supplies, such as pens and pads of paper, for its employees.

E) A) and B)
F) All of the above

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Question 32

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Callie Crystal owns and operates one of the most successful local coffee shops in Denver,called The Edgewater Café.Each time a customer purchases their 100^th cup of coffee at The Edgewater Café,they receive a free pound of coffee of their choice.What is Callie attempting to create with her unique "Free Pound of Coffee" marketing program?

A) Reducing buyer power with a loyalty program.
B) Increasing buyer power with a loyalty program.
C) Decreasing supplier power with a differentiated product.
D) Creating a substitute product.

E) A) and B)
F) A) and C)

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Question 33

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Which of the following is not a typical way that a company would duplicate a competitive advantage?

Which of the following offers an example of a company operating in a narrow,focused market operating as the low-cost provider?

If a supplier has high power,what can it do to influence its industry?

The banking industry has implemented several competitive advantages,including ATMs,online bill-pay services,and electronic statements.Of course,these competitive advantages were quickly duplicated by any competitor that wanted to remain in the banking industry.These were all examples of ___________ competitive advantages.

Jennifer Bloom is writing a paper and she must determine which of Porter's three generic strategies The Museum Company has implemented.Jennifer finds out that The Museum Company offers specialty products found only in museums around the world to affluent customers.What would Jennifer determine The Museum Company is using as its generic strategy?

According to Porter's three generic strategies,Walmart is following a business strategy that focuses on "broad market and low cost."

Competitive __________ is the process of gathering information about the competitive environment,including competitors' plans,activities,and products,to improve a company's ability to succeed.

According to Porter,companies that wish to dominate broad markets should operate using a ________ strategy.

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.

How can a company reduce the threat of substitute products or services?

Buyer power is the ability of buyers to affect the price they must pay for an item.

When a company is the first to market with a competitive advantage,it gains a particular benefit known as competitive intelligence.

Over the past decade the United States has lost an estimated 2.4 million factory jobs to Nepal.

Identifying competitive advantages can be difficult and explains why they are typically _______.

Which of the following is included in Porter's Five-Forces Model?

Value chain analysis views a firm as a series of business processes that each adds value to the product or service.

Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?

Porter suggests adopting only __________ of the three generic strategies.