SITM quiz 2

Who introduced the concept of the Value Chain?

• Peter Drucker
  

• Michael Porter
  

• Henry Fayol
  

• Philip Kotler

Which of the following is NOT a primary activity in the value chain?

• Inbound logistics
  

• Operations
  

• Human resource management
  

• Marketing and sales

Which of the following activities is considered a secondary activity in the value chain?

• Outbound logistics
  

• After-sales service
  

• Technological development
  

• Marketing and sales

What is the primary purpose of value chain analysis?

• To increase the cost of production
  

• To decrease product quality
  

• To identify opportunities for cost reduction and value improvement
  

• To increase competition

Which of the following is an example of outbound logistics?

• Warehousing raw materials
  

• Distributing finished goods to retailers
  

• Hiring and training employees
  

• Research and development

What does the procurement function in the value chain focus on?

• Manufacturing goods
  

• Sourcing raw materials and suppliers
  

• Marketing and sales
  

• Customer service

Which of the following is NOT one of Porter’s Five Forces?

• Competitive rivalry
  

• Threat of new entrants
  

• Innovation strategy
  

• Buyer power

Which force in Porter’s Five Forces Model refers to the impact of alternative products or services on an industry?

• Buyer power
  

• Supplier power
  

• Threat of substitution
  

• Competitive rivalry

How can a company reduce supplier power?

• Relying on a single supplier
  

• Increasing dependency on suppliers
  

• Diversifying and sourcing from multiple suppliers
  

• Reducing product quality

In which situation would buyer power be the strongest?

• Many suppliers and few buyers
  

• Many buyers and few suppliers
  

• Only one company dominates the market
  

• Customers have no alternative products