Strategic Management and Correct Answer

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1. The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________________. A) Focused strategy; product differentiation B) Focused strategy; cost advantage C) Cost advantage; primary value activities D) Cost advantage; product differentiation Feedback: The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a cost advantage or product differentiation. Points Earned: | 0.0/1.0 | | Correct Answer(s): | D | 2. If a supplier has high power, what can it do to influence its industry? A) Charge higher prices…show more content…
Points Earned: | 1.0/1.0 | | Correct Answer(s): | C | 10. Which of the following statements is true? A) IT equals business success B) IT equals business innovation C) IT represents business success and innovation D) IT enables business success and innovation Feedback: IT is an important enabler of business success and innovation. Points Earned: | 0.0/1.0 | | Correct Answer(s): | D | 11. Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales. Which of the following is not one of the potential pressures that can hurt sales? A) Suppliers can drive down profits by charging more for supplies B) New market entrants can steal potential investment capital C) Substitute products can steal customers D) Competition can steal customers Feedback: Michael Porter defined the Five Forces Model. Before formally presenting his model, he identified pressures that can hurt potential sales,

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