Evaluating the Competition Exam Review

Front

In a school project, Liam, Aria, and Mason are running different lemonade stands. Competitive advantage occurs when Liam's lemonade stand __________ compared to Aria and Mason's stands.

Back

Operates more efficiently

Front

Which of the following is NOT one of the recommended methods Samuel should consider for learning about his competitors?
- Experiencing competitors firsthand by visiting their stores or using their services
- Discussing a possible joint venture or merger with competitors like Anika and Abigail
- Reading publications featuring articles about competitors
- Searching directories and business reports for competitors

Back

Discussing a possible joint venture or merger with competitors like Anika and Abigail

Front

Should Kai reveal to James that he is a competitor?

Back

True

Front

According to their study, which of the following does NOT include learning about competitors’ internal operations?
Products and services,
Marketing efforts,
Financial resources,
Customers’ needs and wants

Back

Customers’ needs and wants

Front

Is James's belief that talking to customers is the most accurate way to learn about competitors true or false?

Back

False

Front

What does SWOT stand for in the context of a SWOT analysis?

Back

Strengths, weaknesses, opportunities, threats

Front

In the context of a school project, Mason, Abigail, and Aria are working together to create a business model. Which of the following could be considered as negative internal factors that they can control within their project? Strengths, Opportunities, Threats?

Back

Weaknesses

Front

Lily, Rohan, and Abigail started a small business. They are facing some issues that are beyond their control and are considered negative external factors. Which of the following could be one of those issues? Strengths, Weaknesses, Opportunities, Threats

Back

Threats

Front

Aria, David, and Zoe are running a startup. Which of the following factors, that they can control within their business, are considered positive internal factors? Strengths, Weaknesses, Opportunities, Threats

Back

Strengths

Front

Ava, Noah, and Priya are running a small business. Which of the following factors beyond their control could be considered as positive external factors for their business? Strengths, Weaknesses, Opportunities, Threats

Back

Opportunities