BIS 610 Final Exam Questions And Answers 100% Verified.
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Course
BIS 610
Institution
BIS 610
BIS 610 Final Exam Questions And
Answers 100% Verified.
Mary's upscale boutique in New York creates custom-made dresses for clients. One of them is
willing to pay extra to get the order completed urgently. Mary, who was considering a vacation
at this time, will stay to complete this project fir...
BIS 610 Final Exam Questions And Answers 100% Verified. Mary's upscale boutique in New York creates custom -made dresses for clients. One of them is willing to pay extra to get the order completed urgently. Mary, who was considering a vacation at this time, will stay to com plete this project first. This is creating new value for her business. - answer✔✔True The analysis of added value allows managers and analysts to evaluate how much of the value created the firm can appropriate in the form of profits. - answer✔✔True Peter i s a retired gardener who supplies homegrown vegetables to the local diner. The Firm cost for growing the pumpkins and bringing them to the diner is $1.50 per unit. It is Halloween season, so the diner is willing to pay Peter $7 per unit. What is the excess profit appropriated by Peter? - answer✔✔$5.50 The analysis of added value is only useful when a company is innovating (creating value in new ways and offering things no competitor is currently offering). - answer✔✔False Jenny is a shift manager at a Starb ucks in Lyon, France. She wants to pitch an idea for bio -coffee to her boss and is working out the total value created from each cup of bio -coffee. The eco -
friendly coffee beans for a standard coffee cup cost $1. The rest of the raw materials and expenses per cup are $0.85. Using a survey, she has determined that the customers are willing to pay $5 per cup. What is the total value created? - answer✔✔$3.15 (Maybe) A firm's added value is a measure of its competitive advantage. - answer✔✔True Input resources in a firm's transformation process can be any factor of production, such as raw materials, labor, equity and debt capital, managerial talent, support services like storage and transport, etc. - answer✔✔True Value appropriation is a process by which total v alue created in the transaction is equally distributed among all partner entities. - answer✔✔False Input resources of a firm undergo a transformation process to create value for the customer. - answer✔✔True The industry analysis tool is often used by manag ers to decide whether to enter an industry or to forgo investment. For organizations that are already active in a given industry, this tool in ineffectual. - answer✔✔False The pharmaceutical industry is characterized by a substantial need for capital inves tments in research and development, strong economies of scale, well known brand names with multiple issues on patents and government regulations. Threat of new entrants can be characterized as one of the following options: - answer✔✔Low A small local coffe e shop has two suppliers, A and B. Supplier A went bankrupt and had to close its business. Assuming that both suppliers are able to provide the coffee shop with all its needs in term of suppliers, which of the following is likely to happen: - answer✔✔The b argaining power of supplier B will increase Based on the classic value chain, inbound logistics, operations, outbound logistics, marketing & sales, and services are activities that indirectly support the firm's transformation process. - answer✔✔False The c ustomer service life cycle consists of four stages. In which stage does the customer begin thinking about repurchasing, trading in, or dismissing old products? - answer✔✔Retirement The industry analysis framework consists of five determinant forces. Which of the following represents the extent to which the industry is open to entry by new competitors? - answer✔✔Threat of new entrants The value chain model is not a one size fits all model, meaning that it needs to be adapted to the specific needs of the firm . - answer✔✔True The customer service life cycle consists of four stages. In which stage does the customer realize the needs for a specific product or service and begins to focus on its attributes? - answer✔✔Requirements Price competition, advertising batt les, rapid innovation and fast obsolescence are all facets of rivalry among existing competitors in an industry. - answer✔✔True Which of the following is NOT a part of the support activities carried out in a typical value chain? - answer✔✔Marketing and sal es In the fast food industry, a lot of substitutes products (like Burger King, McDonald's, KFC, Subway and others) exist therefore the threat of substitutes for the fast food industry can be termed as one of the following options: - answer✔✔High All of the following are analytical tools that were introduced or adapted to the search for strategic information systems opportunities except: - answer✔✔Cluster analysis Barriers to entry are strong if the threat of new entrants is low. - answer✔✔True If switching costs in an industry are low, the bargaining power of buyers is high. - answer✔✔True
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