Capstone 1 Part 2

100 Questions  I  By Jprohoroff
Capstone 1 Part 2
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1.  Kim's T-shirt factory was expert at providing unique, high-quality, but costly to make shirts. Even though the designs were very nice and the amount of detail increased over time, the high price meant that few customers bought shirts from her and her factory went bankrupt. Kim's factory failed due to
A.
B.
C.
D.
E.
2.  When a firm produces products that customers perceive as having higher utility than those of its rivals, this firm's source of competitive advantage is
A.
B.
C.
D.
E.
3.  Factors that help a company to build and sustain competitive advantage include which of the following?
A.
B.
C.
D.
E.
4.  Efficiency is
A.
B.
C.
D.
E.
5.  Which primary activity in the value chain is concerned with the design of products and production processes?
A.
B.
C.
D.
E.
6.  The concept of quality applies to
A.
B.
C.
D.
E.
7.  A company's competitive advantage will not endure for long when that competitive advantage can be
A.
B.
C.
D.
E.
8.  The Icarus paradox suggests that
A.
B.
C.
D.
E.
9.  Using the value chain model, which of the following primary activities is performed last, as inputs are transformed into outputs?
A.
B.
C.
D.
E.
10.  A company's competitive advantage is more durable when
A.
B.
C.
D.
E.
11.  Using the value chain model, which of the following primary activities is performed first, as inputs are transformed into outputs?
A.
B.
C.
D.
E.
12.  Industry dynamism refers to
A.
B.
C.
D.
E.
13.  Capabilities refer to a company's
A.
B.
C.
D.
E.
14.  Cost of goods sold is determined by examining which of the following?
A.
B.
C.
D.
E.
15.  The intellectual property of an organization is a(n)
A.
B.
C.
D.
E.
16.  The Icarus paradox can be overcome if a company
A.
B.
C.
D.
E.
17.  Which of the following is not a way that companies can avoid failure?
A.
B.
C.
D.
E.
18.  __________ is a way to avoid failure.
A.
B.
C.
D.
E.
19.  Which of the follow support activities in the value chain refers to the companywide context within which all the other value creation activities take place?
A.
B.
C.
D.
E.
20.  Innovation refers to the act of
A.
B.
C.
D.
E.
21.  Traditional manufacturing
A.
B.
C.
D.
E.
22.  Customer defection rates are
A.
B.
C.
D.
E.
23.  Which of the following recommendations would not be appropriate for a manager who was starting a cross-functional product-development team?
A.
B.
C.
D.
E.
24.  The resources and capabilities that lead to the formation of distinctive competencies are mostly created at which level of the organization?
A.
B.
C.
D.
E.
25.  Quality can best be thought of as
A.
B.
C.
D.
E.
26.  Which of the following is not correct concerning self-managed teams?
A.
B.
C.
D.
E.
27.  Formulating a plan to close the quality gap
A.
B.
C.
D.
E.
28.  Which of the following is a tactical step for getting down the experience curve ahead of competitors?
A.
B.
C.
D.
E.
29.  According to the TQM philosophy, who should be the primary evaluator of product quality?
A.
B.
C.
D.
E.
30.  When a company successfully implements Six Sigma quality, how many units will be defective?
A.
B.
C.
D.
E.
31.  Economies of scale may be found
A.
B.
C.
D.
E.
32.  Quality circles are a valuable tool for TQM because they
A.
B.
C.
D.
E.
33.  Self-managing work teams
A.
B.
C.
D.
E.
34.  Just-in-time inventory systems
A.
B.
C.
D.
E.
35.  ______________ refers to unit cost increases associated with a large scale of output.
A.
B.
C.
D.
E.
36.  The concept of the development funnel suggests that*
A.
B.
C.
D.
E.
37.  Effective employee training within an organization
A.
B.
C.
D.
E.
38.  Which of the following is one of the important skills required for effective project management?
A.
B.
C.
D.
E.
39.  The experience curve refers to the
A.
B.
C.
D.
E.
40.  The philosophy underlying TQM includes which of the following?
A.
B.
C.
D.
E.
41.  The use of self-managing teams
A.
B.
C.
D.
E.
42.  A company's infrastructure includes the company's
A.
B.
C.
D.
E.
43.  Managers should not become complacent about efficiency-based cost advantages because
A.
B.
C.
D.
E.
44.  Which of the following is not one of the principles commonly found in companies that have successfully embraced the TQM philosophy?
A.
B.
C.
D.
E.
45.  Instead of completing one task before starting another, Perry's team begins each task as soon as possible, allowing tasks to overlap where possible. Perry's team is using
A.
B.
C.
D.
E.
46.  Poor commercialization of new products
A.
B.
C.
D.
E.
47.  Which of the following statements about customer focus is false?
A.
B.
C.
D.
E.
48.  Pay for performance tends to
A.
B.
C.
D.
E.
49.  Marina's new paint formulation builds on other product innovations to create paint with fewer toxic fumes. Marina's new paint is
A.
B.
C.
D.
E.
50.  Flexible manufacturing technologies allow companies to
A.
B.
C.
D.
E.
51.  The experience curve concept
A.
B.
C.
D.
E.
52.  If a product is to be properly commercialized, there must be integration between
A.
B.
C.
D.
E.
53.  Economies of scale are
A.
B.
C.
D.
E.
54.  Which of the following is not a product attribute?
A.
B.
C.
D.
E.
55.  Flexible production technology is sometimes referred to as
A.
B.
C.
D.
E.
56.  The failure rate of innovative products is
A.
B.
C.
D.
E.
57.  Learning effects are a result of
A.
B.
C.
D.
E.
58.  The role played by infrastructure leadership in implementing reliability methodologies includes which of the following?
A.
B.
C.
D.
E.
59.  Quality improvement efforts should focus on the
A.
B.
C.
D.
E.
60.  Which of the following trends has led to the fragmentation of many consumer markets?
A.
B.
C.
D.
E.
61.  Market segmentation is best described as what type of process?
A.
B.
C.
D.
E.
62.  A cost leader could reasonably be expected to reduce costs by developing distinctive competencies in all but
A.
B.
C.
D.
E.
63.  A firm makes complex telecommunications products, such as cellular telephones. Because this company has a distinctive competency in research and development, it should try to differentiate its product through
A.
B.
C.
D.
E.
64.  Companies are now able to pursue cost leadership and differentiation simultaneously because
A.
B.
C.
D.
E.
65.  Generally speaking, a differentiator chooses to divide its market into
A.
B.
C.
D.
E.
66.  A competitor's ability to ____________ a cost leader's methods is a threat to a cost-leadership strategy
A.
B.
C.
D.
E.
67.  A radio station has a distinctive competency in developing new products (shows) and wants to serve the upscale market. Which of the following is the most appropriate generic strategy for this company?
A.
B.
C.
D.
E.
68.  Product differentiation is often
A.
B.
C.
D.
E.
69.  Compared to a differentiator, the cost leader has the advantage over its rivals of
A.
B.
C.
D.
E.
70.  When technological change is low and customer needs are well established and standardized, the most appropriate generic strategy to pursue is
A.
B.
C.
D.
E.
71.  At their simplest level, customer needs can be defined as
A.
B.
C.
D.
E.
72.  The main difference between companies following a cost leadership strategy and those following a focused cost leadership strategy is
A.
B.
C.
D.
E.
73.  Which of the following statements is true?
A.
B.
C.
D.
E.
74.  The principal dangers of a cost leadership approach include all of the following except
A.
B.
C.
D.
E.
75.  Which generic business-level strategy is based on the intent to outperform competitors by doing everything a company can to lower its cost structure?
A.
B.
C.
D.
E.
76.  Which of the following is not a generic competitive strategy?
A.
B.
C.
D.
E.
77.  A differentiation strategy is based on creating a product that customers perceive as being
A.
B.
C.
D.
E.
78.  For a cost lead in manufacturing,  ____________ functions are the center of attention.
A.
B.
C.
D.
E.
79.  Jordan's ice cream stand offers different combinations of premium flavors, cones, and toppings to create hundreds of extravagant, customized products. Which generic strategy is Jordan following in the restaurant industry?
A.
B.
C.
D.
E.
80.  Differentiated products should be targeted at multiple market segments (instead of a particular segment) if a company has a distinctive competency in
A.
B.
C.
D.
E.
81.  Differentiators have higher costs than cost leaders do for all of the following reasons except that they
A.
B.
C.
D.
E.
82.  A shrinking market segment poses the greatest threat to a company pursuing which of the following strategies?
A.
B.
C.
D.
E.
83.  Which of the following automobile manufacturers have found it difficult to differentiate their cars?
A.
B.
C.
D.
E.
84.  A large company produces a variety of clothing for different customer groups. This firm is pursuing which of the following strategies?
A.
B.
C.
D.
E.
85.  Nick is often asked to perform his clown act for birthday parties and school groups, but he offers his most inexpensive services only to children's hospitals. Nick is pursuing which generic business strategy?
A.
B.
C.
D.
E.
86.  Which firm has the greatest probability of achieving a competitive advantage by successfully managing its strategy?
A.
B.
C.
D.
E.
87.  Delta Airlines used to advertise its high-quality air travel service by saying it flew “anywhere, anytime.” What generic strategy is represented by this advertisement?
A.
B.
C.
D.
E.
88.  Differentiation is least effective when it is based on
A.
B.
C.
D.
E.
89.  A focused differentiator has the advantage of
A.
B.
C.
D.
E.
90.  The most expensive competitive strategy to pursue is
A.
B.
C.
D.
E.
91.  A market segment consists of a group of
A.
B.
C.
D.
E.
92.  Which of the following is not a main approach to market segmentation?
A.
B.
C.
D.
E.
93.  A producer of commodity steel should pursue which of the following generic competitive strategies?
A.
B.
C.
D.
E.
94.  Market fragmentation has occurred in many industries because of the
A.
B.
C.
D.
E.
95.  Cost leadership is most appropriate when
A.
B.
C.
D.
E.
96.  Mercedes-Benz automobiles are a good example of
A.
B.
C.
D.
E.
97.  When a company produces a wide range of products for different customer groups, it is following a strategy of
A.
B.
C.
D.
E.
98.  When a company services the broad market and has a low degree of product differentiation, it is most likely
A.
B.
C.
D.
E.
99.  A business model based on differentiation requires a company to
A.
B.
C.
D.
E.
100.  A disadvantage of pursuing a cost leadership strategy is that
A.
B.
C.
D.
E.
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