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MGMT 220 Exam 2 (Chapters 5-8) Prep Questions With Verified Solutions.
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Which of the following is one of the fundamental questions a manager must answer in developing a business-level strategy? - Answer Who do we serve? Supply-side economies of scale arise: - Answer When a firm manufactures products in high volumes Which of the following is the best examp...

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  • October 17, 2024
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  • 2024/2025
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MGMT 220 Exam 2 (Chapters 5-8) Prep
Questions With Verified Solutions.
Which of the following is one of the fundamental questions a manager must answer in developing a

business-level strategy? - Answer Who do we serve?



Supply-side economies of scale arise: - Answer When a firm manufactures products in high volumes



Which of the following is the best example of a barrier to entry created by a firm's incumbency

advantages? - Answer A company with superior technology when compared to its competitors



Which of the following forces of the five-forces model will exemplify Wal-mart's ability to buy products
from its suppliers at rock-bottom prices? - Answer Bargaining power of customers



Rivalry among existing competitors is more when: - Answer Idustry growth is slow



A cosmetics company owns a patent for particular kind of shampoo which is a bestseller in the market. It
enables the firm to extract a high level of discretion over product pricing. The patent for the shampoo is
an example of a firm's _____ resource. - Answer Intangible



_____ is a tool that allows managers to take a snapshot of their firm's internal strengths and weaknesses
as well as the opportunities and threats that are evident in the external environment. - Answer SWOT
analysis



Which of the following is an example of a weakness in an organization's SWOT analysis? - Answer Over-
dependence on a particular supplier for core materials



Which of the following is one of the generic strategies through which a manager can create a firm's
competitive advantage? - Answer Differentiation strategy

, In a differentiation focused approach, a firm attempts to target: - Answer Customers with special needs
who have been underserved historically



Which of the following firms can be referred to as being "stuck in the middle"? - Answer A firm that
engages in numerous strategies but fails to master any one



Primary activities of a firm's value chain refers to: - Answer The activities involved in the physical
creation of a product and its sale and transfer to the buyer



Which of the following belongs to the primary activities of a firm's value chain? - Answer Marketing
and sales



The scope of a corporate-level strategy focuses on: - Answer The markets and businesses the firm will
compete in



Which of the following questions is addressed by the organizational design of a firm's corporate-level
strategy? - Answer How will the resources of the firm be coordinated?



The distinguishing factor between unrelated and related diversification strategy is that a firm using
unrelated diversification strategy: - Answer Manages several businesses with no reasonable connection



Which of the following is a reason why managers pursue diversification strategies? - Answer The
potential for personal gain



Which of the following statements is an advantage of related diversification strategy? - Answer The
sharing of resources is a key component of developing economies of scope and often increases a firm's
competitive advantage



_____ is a strategy is which a firm engages in several different businesses that may or may not be related
in an attempt to create more value than if the businesses existed as stand-alone entities. - Answer
Diversification

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