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Question 1:    A firm can survive and succeed in the long run if it successfully develops strategies to confront five competitive forces that shape the structure of competition in its industry. These are:

                         Rivalry of competitors within its industry, threat of new entrants, threat of substitutes, the bargaining power of customers, and the bargaining power of suppliers
                          Rivalry of competitors within its industry, growth strategy, threat of substitutes, the bargaining power of customers, and the bargaining power of suppliers
                          Rivalry of competitors within its industry, alliance strategy, threat of substitutes, the bargaining power of customers, and the bargaining power of suppliers
                          Rivalry of competitors within its industry, threat of organizational change, threat of substitutes, the bargaining power of customers, and the bargaining power of suppliers
                          None of the above

Question 2:   Competitive Advantage includes:

                         developing products that give a company a superior business position relative to its competitors
                          developing services that give a company a superior business position relative to its competitors and other competitive forces
                          developing capabilities that give a company a superior business position relative to its competitors
                          A and B
                          All of the above

IQuestion 3:    Which of the following is a factor influencing the bargaining power of vendors?

                         Government policies
                          Retaliation
                          Market concentration
                          A and B
                          A and C

Question 4:    Your text outlines five basic competitive strategies that it can use to counter the threats of competitive forces that shape the structure of competition in its industry. Expanding a company’s product offering into global markets is an example of a(n):

                         Cost leadership strategy
                          Differentiation strategy
                          Innovation strategy
                          Growth strategy
                          Alliance strategy

Question 5:    Differentiation includes:

                         Entry into unique markets or market niches
                          Developing ways to differentiate a firm’s products and services from its competitors
                          Diversifying into new products and services
                          Establishing new business linkages with customers, suppliers and other companies
                          Making radical changes to the business processes for producing or distributing products and services

Question 6:    One way to lock-in customers or suppliers is to:

                         use investments in information technology that can not be easily duplicated
                          anticipate customers’ future needs
                          create loyalty programs
                          All of the above
                          B and C

Question 7:    Value chains are:

                         a series or net-work of basic activities that add value to a firms products and services
                          a value oriented process which relies on diversification and expansion
                          a way of adding a margin of value both to the firm and its customers
                          A and B
                          A and C

Question 8:    Which of the following statements is NOT true?

                         Forming a virtual company can be one of the most important strategic uses of information technology
                          A virtual company is an organization that uses information technology to link people, organizations, assets, and ideas
                          A virtual company uses the Internet, intranets, and extranets to form virtual workgroups and support alliances with business partners
                          Virtual companies typically form virtual workgroups and alliances with customers, organized into clusters of process and cross-functional teams linked by intranets
                          All of the above

Question 9:    Interenterprise Information Systems are:

                         Information systems implemented on an extranet among a company and its suppliers, customers
                          'learning organizations'
                          diversified systems
                          A and B
                          None of the above

Question 10:  Knowledge-creating companies exploit two kinds of knowledge - explicit and tacit knowledge. Explicit knowledge deals with:

                         Data, documents, things written down or stored on computers
                          'How-to' knowledge, which resides in workers
                          Ability to use data mining techniques to capture external information
                          learned information
                          None of the above