Business & Management Test: Business Strategy (Short)

8 Questions | Total Attempts: 1778

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Business & Management Test: Business Strategy (Short)


Questions and Answers
  • 1. 
    The External Environment consists of six factors. Which one below is not one of those factors:
    • A. 

      Demographic

    • B. 

      Sociocultural

    • C. 

      Unions

  • 2. 
    Porter’s five forces discusses the forces in the environment that has influence on a company  they are: Suppliers, Competitors, Customers, New Entrants and __________________?
    • A. 

      Unions

    • B. 

      Substitutes

    • C. 

      Govenment

  • 3. 
    Two unassailable assumptions of industry: No two organizations are totally different and, ______________________.(select an answer from below)
    • A. 

      No two are the same

    • B. 

      The customer selects the company(advertising does not influence)

    • C. 

      Price and quality dictate your business

  • 4. 
    Strategic Groups are a cluster of firms that share similar strategies which one below is not one of the characteristics of that group:
    • A. 

      Breadth of product and georgraphic scope

    • B. 

      Price and Quality

    • C. 

      Location

  • 5. 
          The Value Chain is a process of value-creating activities that state a firm is profitable to the extent the value it receives exceeds the total costs involved in creating its product or service. There are two sections to the value chain they are:
    • A. 

      Support activities and Primary Activities

    • B. 

      Manufacturing Activities and Support Activities

    • C. 

      Function activities and Logistical activities.

  • 6. 
    Industries in which proportionally more value is added in __________ activities, such as logistics, are more likely to benefit from a global strategy.
    • A. 

      Marketing 

    • B. 

      Downstream

    • C. 

      Upstream

  • 7. 
    Multinational firms are constantly faced with the dilemma of choosing between _______ and ___________.
    • A. 

      Local adaptation; global integration

    • B. 

      Global adaptation; local integration

    • C. 

      Global adaptation; global integration

  • 8. 
    Primary participants in corporate governance are __________, _________, and __________.
    • A. 

      CEO; outside stakeholders; board of directors

    • B. 

      Management; stakeholders; community

    • C. 

      Shareholders; management; board of directors