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Top managers use social intelligence to define the future of the business, analyzing markets, industries, and economies to determine the strategic direction the company must follow to remain unprofitable.

A) True
B) False

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Apple utilized the first-mover ________ with its iPod product.

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Your boss, Kerry Miller, has asked you to analyze the soft-drink industry using Porter's Five Forces Model.Which of the following represents a substitute product in the soft-drink industry?


A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Vitamin water, fruit juice, coffee.

E) None of the above
F) All of the above

Correct Answer

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How does the text recommend that a company operate if it wants to be successful in the information age?


A) Functionally independent between departments.
B) Interdependently between departments.
C) Together as one department with little or no independence.
D) Each department acting as its own individual business unit.

E) A) and B)
F) B) and C)

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Your boss, Tom Repicci, has asked you to analyze the airline industry using Porter's three generic strategies.Which of the following companies are using a differentiation strategy?


A) Southwest, Horizon, Frontier, JetBlue.
B) British Airways, Singapore Airlines, Virgin Atlantic.
C) Sky Taxi-a rent-by-the-hour personal plane service.
D) All of these.

E) None of the above
F) A) and B)

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Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?


A) Product analysis.
B) Primary supplier power.
C) Value chain analysis.
D) Buyer chain analysis.

E) All of the above
F) A) and B)

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____________ is information that returns to its original transmitter and modifies the transmitter's actions.

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If a business is following a focused strategy then its competitive scope is ________.


A) Broad market.
B) Narrow market.
C) Broad range products.
D) Broad range of services.

E) None of the above
F) All of the above

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The core drivers of the information age are data, knowledge, business intelligence, and _____________.

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The banking industry has implemented several competitive advantages, including ATMs, online bill pay services, and electronic statements.Of course, these competitive advantages were quickly duplicated by any competitor that wanted to remain in the banking industry.These were all examples of ___________ competitive advantages.


A) Acquiring new technology products and services.
B) Hiring new employees.
C) Reducing expenses.
D) Gaining invaluable feedback from customers.

E) A) and D)
F) B) and C)

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Broad differentiation, broad cost leadership, and _________ create the three generic strategies identified by Porter.


A) Narrow market leadership.
B) High cost versus low cost.
C) Focused strategy.
D) None of these.

E) C) and D)
F) A) and D)

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The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers.Victory Wireless offers customers who purchase an iPhone with a 2-year subscription a free Otter phone case, car charger, ear phones, and speakers.In terms of Porter's five forces, what is Victory Wireless attempting to achieve with this marketing strategy?


A) Increase buyer power.
B) Increase substitute products.
C) Decrease supplier power.
D) Decrease buyer power.

E) A) and D)
F) C) and D)

Correct Answer

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Which of the following is not a typical way that a company would duplicate a competitive advantage?


A) Acquiring the new technology.
B) Copying the business operations.
C) Hiring away key employees.
D) Carrying large product inventories.

E) C) and D)
F) A) and B)

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A __________ chain analysis views a firm as a series of business processes that each adds value to the product or service.

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Today's workers are referred to as _______________ and they use BI along with personal experience to make decisions based on both information and intuition, a valuable resource for any company.


A) Knowledge workers.
B) Knowledge thinkers.
C) Knowledge resources.
D) All of these.

E) A) and D)
F) A) and C)

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When evaluating the value chain, all of the following are included in the primary value activities except:


A) Inbound activities.
B) Operations.
C) Service.
D) MIS development.

E) None of the above
F) A) and B)

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If you were thinking about a washing machine as a system, which of the following represents the feedback?


A) The dirty clothes, water, and detergent.
B) The clean clothes.
C) The wash and rinse cycle.
D) The light indicating that the washer is off balance and has stopped.

E) A) and C)
F) A) and B)

Correct Answer

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Companies today are successful when they combine the power of the information age with traditional business methods.

A) True
B) False

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Value chain analysis views a firm as a series of business processes that each adds value to the product or service.

A) True
B) False

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Companies update business strategies continuously as internal and external environments change.

A) True
B) False

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