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BCIS 3610 Exam 1 Review ch . 1-4 well answered to pass
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BCIS 3610 Exam 1 Review ch . 1-4 well answered to pass
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BCIS 3610 Exam 1 Review ch . 1-4 wellanswered to pass
Which of the following factors determines the structure, features, and functions of an information
system used in a company? - correct answer ✔✔the competitive strategy
T/F: An organization's goals and objectives are determined by its competitive strategy. - correct answer
✔✔True
T/F: The value chain of an organization determines its competitive strategy. - correct answer ✔✔false
Porter's five forces model is used to assess ________. - correct answer ✔✔industry structure
According to Porter's five forces model, which of the following firms would be least affected
by the threat of substitutes? - correct answer ✔✔a firm that sells the only drug for a disease
According to Porter's five forces model, a frequent traveler's choice of auto rental would be an
example of a strong force for ________. - correct answer ✔✔threat of substitutions
According to Porter's five forces model, in which of the following situations would the
supplier have the highest bargaining power? - correct answer ✔✔a dealer of patented material for
smartphone manufacturers
According to Porter's five forces model, in which of the following examples would rivalry be
considered as a weak force affecting the market? - correct answer ✔✔search engine designers
A new drug that has shown promise in curing skin cancer has been discovered by a famous
chemical laboratory. This is the only known drug effective for treatment of this disease. The
,laboratory obtains a patent for the product and decides to sell it. This situation is characterized by
______. - correct answer ✔✔low threat of substitutions
According to Porter's five forces model, a group of grain farmers in a surplus year will have
reduced ________. - correct answer ✔✔bargaining power
Bargaining power of customers is likely to be the highest for markets involving ________. - correct
answer ✔✔industrial products
The automobile industry is characterized by many manufacturers and intense competition
among them. According to Porter's five forces model, this statement illustrates ________. - correct
answer ✔✔high levels of rivalry
Dynotrix Motors is a large car-manufacturing company. The company purchases raw
material from many small-sized sellers across the globe. In this case, Dynotrix Motors is
characterized by ________. - correct answer ✔✔high bargaining power over its suppliers
T/F: A major drawback of Porter's five forces model is that it ignores the rivalry among firms in
the industry. - correct answer ✔✔false
I-scream-4 Ice Cream recently faced competition against their flagship brand of "Orange peel
ice cream." A competitor made significant in-roads into the market by offering three varieties of
"Orange peel ice cream." I-scream-4 Ice Cream decided to counter this threat by introducing five
new varieties of ice creams. Which competitive strategy is I-scream-4 Ice Cream implementing? - correct
answer ✔✔product differentiation
An automobile company decides to improve the quality of its products and bring more
variety into its entire product line. The company has decided to adopt ________. - correct answer
✔✔industry wide differentiation
, Focused differentiation occurs when ________. - correct answer ✔✔better service is provided within an
industry segment
Focused cost leadership is observed when a product has the lowest cost ________. - correct answer
✔✔within an industry segment
T/F: An organization responds to the structure of its industry by choosing a competitive strategy. - correct
answer ✔✔true
T/F: A telecom service provider focusing on high-end users is following an industry-wide
differentiation strategy. - correct answer ✔✔False
The difference between the value that an activity generates and the cost of the activity is
called the ________. - correct answer ✔✔margin
Porter defined value as the ________. - correct answer ✔✔the amount of money that a customer is
willing to pay for an offering
Identify the activity in the value chain that involves receiving and handling of raw materials
and other inputs to the product. - correct answer ✔✔inbound logistics
The difference between the total value added and the total costs incurred is called the
________ of the value chain - correct answer ✔✔total margin
A retail company sells agricultural produce and consumer products. The company procures
materials from farmers and local producers. This process is an example of ________. - correct answer
✔✔inbound logistics
Which of the following statements best describes the role of operations in a value chain? - correct
answer ✔✔transforming inputs into the final products
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