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WPC 480 Midterm Exam Questions and Answers
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WPC 480 Midterm Exam Questions and Answers
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WPC 480 Midterm Exam Questions andAnswers
The iirelative iibargaining iipower iiof iisuppliers iiis iihigh iiwhen iiincumbent iifirms iiface iilow
iiswitching iicosts iiwhen iichanging iisuppliers.
A. iiTrue
B. iiFalse ii- iiAnswers ii-False
According iito iithe iiinternal iivalue iichain iianalysis, iiwhich iiof iithe iifollowing iiis iia iiprimary
iiactivity?
A. iiResearch iiand iiDevelopment
B. iiSupply iiChain iiMgt
C. iiAccounting
D. iiHuman iiResources ii- iiAnswers ii-Supply iiChain iiMgt
_______________________ iiis iibest iidescribed iias iithe iidifference iibetween iithe iivalue
iia iiconsumer iiattaches iito iia iigood iiand iithe iicost iito iiprovide iithe iigood.
A. iiProfit
B. iiEconomic iiValue iiCreated
C. iiConsumer's iiSurplus
D. iiProducer's iiSurplus ii- iiAnswers ii-Economic iiValue iiCreated
Onivo iiAuto iiInc. iihas iibeen iithe iileader iiin iilow-cost iiand iifuel-efficient iiengine
iitechnology iifor iimany iiyears. iiIt iihas iibeen iiable iito iisustain iiits iicompetitive iiadvantage
iiprimarily iibecause iiof iiits iihighly iiefficient iiautomobile iiengines, iiwhich iicompetitors
iihave iibeen iiunable iito iidevelop iior iibuy iiat iia iireasonable iiprice. iiIn iithe iicontext iiof iithe
iiVRIO iiframework, iiwhich iiof iithe iifollowing iiresource iiattributes iimost iilikely iiunderpins
iiOnivo's iicompetitive iiadvantage?
A. iiThe iiresource iiis iieasy iito iireplicate.
B. iiThe iiresource iiis iicostly iito iiimitate.
C. iiThe iiresource iineutralizes iiexternal iiopportunities ii- iiAnswers ii-The iiresource iiis
iicostly iito iiimitate.
Which iiis iia iisource iiof iiincreasing iicustomers' iiwillingness iito iipay?
A. iiCommon iiProduct iiFeature
B. iiLearning iiCurve iiEffect
, C. iiPoor iiCustomer iiService
D. iiExistence iiof iiGreat iiCompliments ii- iiAnswers ii-Existence iiof iiGreat iiCompliments
Which iiof iithe iifollowing iiis iinot iitrue iiabout iithe iibusiness-level iistrategy iiof iiWalmart?
A. iiWalmart iihas iibeen iipursuing iicost iileadership iistrategy. ii
B. iiWalmart iicharges iilower iiprice iifor iinational iibrand iigoods, iiincreasing iiconsumers'
iisurplus.
C. iiHeavy iiinvestment iiin iismart iiIT iisystems iiis iinot iiconsistent iiwith iiWalmart's iioverall
iistrategic iiposition.
D. iiReal-time iiEDI iiwith iisuppliers iihelped iiWalmart iilower iiinventory iimanagement iicost.
ii- iiAnswers ii-Heavy iiinvestment iiin iismart iiIT iisystems iiis iinot iiconsistent iiwith iiWalmart's
iioverall iistrategic iiposition
What iiis iistrategy? ii- iiAnswers ii-An iiintegrated iiset iiof iigoal-directed iiactions iia iifirm
iitakes iito iigain iiand iisustain iicompetitive iiadvantages
Competitive iiAdvantage ii- iiAnswers ii-Occurs iiwhen iian iiorganization iiis iiable iito
create iimore iieconomic iivalue iithan iithe iimarginal ii(breakeven)
competitor iiin iiits iiproduct iimarket ii(through iisuperior iidifferentiation
and/or iilower iicosts). ii[Temporary iior iiSustainable]
Sustainable iiCompetitive iiAdvantage ii- iiAnswers ii-Outperforming iicompetitors iior iithe
iiindustry iiaverage iiover iia iiprolonged iiperiod iiof iitime
Competitive iiDisadvantage ii- iiAnswers ii-Underperformance iirelative iito iiother
iicompetitors iiin iithe
same iiindustry iior iithe iiindustry iiaverage
Competitive iiParity ii- iiAnswers ii-Performance iiof iitwo iior iimore iifirms iiat iithe iisame iilevel
Vision ii- iiAnswers ii-What iido iiwe iiwant iito iiaccomplish?
Mission ii- iiAnswers ii-How iido iiwe iiaccomplish iiour iigoals? iiWhat iido iiwe iido iito
iiaccomplish iiour iigoals?
Values ii- iiAnswers ii-What iicommitments iido iiwe iimake? iiWhat iiguardrails iido iiwe iiput iiin
iiplace? iiHow iican iiwe iiact iilegally iiand iiethically iiin iipursuit iiof iithe iivision iiand iimission?
Product-Oriented iiVision iiStatement ii- iiAnswers ii-Defines iia iibusiness iiin iiterms iiof iia
iigood iior iiservice iiprovided
ex. ii"We iiaim iito iibe iithe iibest iiplayer iiin iithe iitypewriter iibusiness"
Cons: iiLess iiflexible, iinot iineeds-based
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