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WorksheetsReflection Lecture 2 IBIS FCB0025
Total questions: 14
Worksheet time: 4hrs 30mins
What is a competitive advantage?
A product or service that customers value more than competitors' offerings
A marketing tactic to attract new customers
A strategy to reduce costs
A method for increasing employee satisfaction
What does SWOT analysis help to identify?
Strengths, weaknesses, opportunities, and threats
Sales, workforce, operations, and technology
Market share, customer loyalty, and brand value
Financial performance, employee engagement, and market trends
What is the first-mover advantage?
Having the lowest prices in the market
Offering the most diverse product range
Being the first to market with a competitive advantage
Establishing the strongest brand presence
Which of the following is NOT one of Porter's Five Forces?
Rivalry among existing competitors
Supplier power
Market segmentation
Threat of substitute products or services
What does buyer power refer to?
The competition among existing businesses
The ability of buyers to affect the price of an item
The threat posed by new market entrants
The influence of suppliers on product availability
What is the purpose of value chain analysis?
To identify potential new markets for expansion
To evaluate market trends and customer preferences
To analyze financial performance over time
To assess internal activities for competitive advantage
Which of the following is a primary value activity in the value chain?
Human resource management
Inbound logistics
Technology development
Firm infrastructure
What is business process reengineering?
Redesigning business processes to improve performance
Creating new products to meet market demands
Implementing new technology in existing processes
Outsourcing business functions to third parties
What does business intelligence involve?
Creating financial reports for stakeholders
Collecting and analyzing data for strategic decision-making
Developing new marketing strategies
Managing employee performance
What is the role of a knowledge worker?
To handle customer service inquiries
To oversee financial transactions
To manage supply chain logistics
To interpret and analyze information
What is big data characterized by?
Data that is always structured and organized
Simple data that can be easily processed
Large, complex data sets that traditional methods cannot analyze
Data that is only generated by machines
Which of the following is an example of unstructured data?
Financial data
Social media data
Inventory records
Sales figures
What is the purpose of customer relationship management (CRM)?
To enhance employee training and development
To streamline supply chain operations
To analyze market trends and customer behavior
To manage interactions with customers and improve satisfaction
What does predictive analytics do?
Analyzes customer feedback for improvements
Predicts future trends based on historical data
Describes past performance and history
Creates models for decision-making
