1- If the company Apple began prototyping a driver-less car, which of Porters Five Forces is present to the automotive industry?
A- Bargaining power of customers
B- Degree of competitive rivalry
C- None of these are correct
D- Threat of new entrants to a market
E- Bargaining power of suppliers
2- The Balanced Scorecard consists of which four overall metrics?
A- The Customer, Internal Business Processes, Contribution Margin, and Emergency Loans
B- Financial, Sales, Stock Price, and Internal Business Processes
C- Financial, The Customer, Learning & Growth, and Internal Business Processes
D- None of these are correct.
E- Sales, Profit, Learning & Growth, and Stock Price
3- Strategic efforts are often determined between two overall focuses: Cost Leadership and Differentiation:
-False
-True
4- Which best describes a company vision and mission?
A- A company vision is descriptive of its current values and beliefs, a company mission is aspirational and long-term.
B- A company vision is a precise and specific plan for the future, a company mission is descriptive of its current values and beliefs.
C- None of these are correct.
D- A company vision is aspirational and long-term, a company mission is descriptive of its current values and beliefs.
5- Operational effectiveness means performing different or similar activities from your competitors in different ways. Strategic positioning means performing similar activities better than your rivals.
-False
-True
6- A way companies gain competitive advantage through differentiating their products is:
A- Easy accessibility to customers
B- High awareness
C- New products offered regularly
D- All of these are correct
E- Excellent designs
7- In a SWOT analysis, Opportunities and Threats are external factors.
-False
-True
8- SMART goals are:
A- None of these are correct.
B- Specific, Major, Attainable, Reliable, and Time-bound
C- Specific, Measurable, Attainable, Relevant, and Time-bound
D- Special, Major, Attainable, Reliable, and Time-bound
9- A customer deciding to rent a movie from home instead of going to the movie theater illustrates which of Porters Five Forces:
A- Degree of competitive rivalry
B- Threat of new entrants to a market
C- Bargaining power of customers
D- Threat of substitute products
E- Bargaining power of suppliers
10- Which is true of a SWOT analysis?
A- Strengths refer to external factors
B- None of these are correct
C- Strengths and Opportunities are essentially the same
D- Strengths are not part of a SWOT analysis
E- Strengths refer to internal factors