BUS 475 Capstone Exam 2 2023 with 100% correct answers
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Course
Capstone
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Capstone
BUS 475 Capstone Exam 2 Questions & Answers 2023
core competencies of a company are something that a company can do well and... - ANSWER-1. Provides customer benefits
2. Is hard for competitors to imitate
3. Can be leveraged widely to many products/markets
Cost advantage - ANSWER-When a f...
core competencies of a company are something that a company can do well and... - ANSWER-1. Provides
customer benefits
2. Is hard for competitors to imitate
3. Can be leveraged widely to many products/markets
Cost advantage - ANSWER-When a firm is able to deliver the same benefits as their competition, but at a
lower cost and comparable quality.
Differentiation Advantage - ANSWER-The company is able to offer benefits that exceed those of other
companies, but are doing so at the same low cost; Creates superior value for customers and itself
Key questions businesses need to address when finding a business strategy - ANSWER-1. How are we
going to compete in our business?
2. How are we going to create a sustainable competitive advantage (SCA)?
How are we going to compete in our businesses? - ANSWER-1. Cost : Cost Advantage; Lower cost.
How are we going to create a sustainable SCA? - ANSWER-Longevity
Using the Value-Chain model, identify the activities in which the Ford Co. was able to generate cost
reduction? - ANSWER-1. Scaling-up production, assembly line, specialization, standardization
2. Speeding up time to only 93 minutes to assemble a car
, Steps a company should follow if they want to focus on a strategy focused on the cost advantage -
ANSWER-1. Scale up production/facilities
2. Cost control and R&D and overhead
3. Focus on innovation of process (rather than product)
4. Avoidance of marginal customers
Ex: Wal-Mart, Liddle, Aldi
Using the value-chain model, identify the activities in which Tesla was able to generate differentiation -
ANSWER-Engineering expertise, state-of-the-art facilities, advanced technology
Augmented Product/Service - ANSWER-1. Brand
2. Quality
3. Innovation
4. Design
5. Service
Cost Leadership - ANSWER-Serve the whole market
Cost Focus - ANSWER-Market niche
Integration Strategy - ANSWER-Allows a firm to offer differentiated products/services at the lowest cost
A competitive advantage exists when a firm is able to deliver - ANSWER-1. The same benefit as
competitors at a lower cost (cost advantage)
2. Benefits that exceed those of competing product (differentiation advantage)
Why would a company want to go international? - ANSWER-1. It will bring the company success (more
income)
2. To increase the size of the potential market
3. To gain access to resources (skilled labor, energy, primary materials)
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