M103-3-B

_____ are skills and capabilities that enable an organization to create and implement its strategies.

Choose at least one correct answer

1.     Answer 1

Market opportunities

2.     Answer 2

Organizational opportunities

3.     Answer 3

Market strengths

4.     Answer 4

Organizational strengths

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Which of the following is an organizational strength?

Choose at least one correct answer

1.     Answer 1

High employee turnover

2.     Answer 2

High production costs

3.     Answer 3

Well-established distribution channels

4.     Answer 4

​High purchasing power of customers

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A(n) _____ is an internal skill or capability that does not enable a company to choose and implement strategies that support its mission.

Choose at least one correct answer

1.     Answer 1

organizational weakness

2.     Answer 2

organizational threat

3.     Answer 3

market threat

4.     Answer 4

process gain

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A(n) _____ is an area in an organization's environment that, if exploited, may generate higher performance.

Choose at least one correct answer

1.     Answer 1

organizational opportunity

2.     Answer 2

economic downswing

3.     Answer 3

organizational strength

4.     Answer 4

process gain

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An organization that pursues a(n) _____ strategy seeks to stand out among competitors through the quality (broadly defined) of its products or services.

Choose at least one correct answer

1.     Answer 1

differentiation

2.     Answer 2

divesting

3.     Answer 3

anti-competitive

4.     Answer 4

focus

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Which of the following statements is true about the differentiation strategy?

Choose at least one correct answer

1.     Answer 1

It enables a firm to sell products at lower prices and still make profits.

2.     Answer 2

It enables a firm to charge more for its products.

3.     Answer 3

It is aimed at reducing production costs by using inexpensive raw materials.

4.     Answer 4

It involves making simple, low-priced products for the mass market.

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Which of the following is most closely associated with an overall cost leadership strategy?

Choose at least one correct answer

1.     Answer 1

Manufacturing highly-customized products

2.     Answer 2

Manufacturing products in bulk

3.     Answer 3

Providing highly efficient customer service that is better than any other competitor

4.     Answer 4

Selling products at high prices

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A firm pursuing a(n) _____ strategy concentrates on a specific regional market, product line, or group of buyers.

Choose at least one correct answer

1.     Answer 1

overall cost leadership

2.     Answer 2

divesting

3.     Answer 3

restraint of trade

4.     Answer 4

focus

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During the introduction phase of the product life cycle 

Choose at least one correct answer

1.     Answer 1

companies must sacrifice product quality.

2.     Answer 2

most companies tend to downsize.

3.     Answer 3

demand may be very high.

4.     Answer 4

competition is at its peak.

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During the growth stage of the product life cycle,

Choose at least one correct answer

1.     Answer 1

most companies downsize.

2.     Answer 2

the demand is the lowest.

3.     Answer 3

competitors start exiting the industry.

4.     Answer 4

more firms begin producing the product.

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