A product or service feature that customers no longer expect from organizations in a particular industry and do not need to be offered by an entering organization to compete and survive Show
A product feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive A product or service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive A service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive
FedEx Frito Lay Audi KIA
Loyalty program Environmental scanning First-mover advantage Private exchange
Value chain Business process Low cost strategy First-mover advantage
First-mover advantage strategy Three generic strategies Value chain Porter's Five Forces Model
True False Question 15 An entry barrier is typically used to influence the rivalry among existing competitors. True False
Rivalry among existing competitors Threat of substitute products or services Supplier power Buyer power
Broad cost leadership Focused strategy Business process strategy Broad differentiation
Rivalry among existing competitors Threat of substitute products or services Switching costs Buyer power
Low when buyers have many choices of whom to buy from and high when their choices are few High when buyers have many customers of whom to buy from and low when their customers are few Assessed by analyzing the ability of buyers to directly impact the price they are willing to pay for an item Assessed by analyzing the ability of suppliers to directly impact the amount of products that are developed
Low when buyers have few choices of whom to buy from and high when their choices are many High when buyers have many choices of whom to buy from and low when their choices are few Assessed by the suppliers' ability to directly impact the price they are charging for supplies Assessed by the buyers' ability to directly impact the amount of product the company products
Reduce rivalry Increase switching costs Reduce substitute products All of the above
True False
A product or service that an organization's customers value more highly than similar offerings from a supplier A product that an organization's customers place a lesser value on than similar offerings from a competitor A product or service that an organization's customers place a greater value on than similar offerings from a competitor offerings from a supplier A service that an organization's customers place a lesser value on than similar offerings from a supplier
A company An investment An industry A product
Private exchange Environmental scanning First-mover advantage Loyalty program
Three Generic Strategies Value chain analysis Five Forces Model Competitive analysis model
True False
True False
True False
Primary value activities Secondary value activities Support value activities None of the above
1. Buyer Power = Ability to directly influence what someone will pay for something. 2. Supplier Power = Ability to directly influence what someone will be charged for something. 3. Threat of Substitute Products or Services = High when there are many alternatives to a product or service. 4. Threat of New Entrants = High when it is easy for new competitors to enter a market. 5. Rivalry Among Existing Competitors = High when competition is fierce in a market. --------------------------------------------------------------------------------------------------------1. In today’s global business environment, does the physical location of a business matter? It totally depends upon business type. However, most today’s business has been an international level of business. In this globalization culture it does not matter the business needs the physical location. Most of work is done by technology. For instance, we don’t work what we used to work; the working style has changed because of new technology, so we can work remotely, no need to go office to work done. 2. Why is collaboration among universities important? Collaboration is a key to working successfully and important because it is a leadership skill. Any good leader knows that it has to let go of some control where in passing it down to someone else and working together. 3. Is there a competitiveness problem in the United States? The competitive problems in 80’s and 90’s didn’t really go away. It was just hidden during the bubble years behind a mirage of prosperity, and all the while the country’s industrial base continued to erode. Now, the U.S. has finally taken the problem seriously. Rebuilding its wealth-generating machine—that is, restoring the ability of enterprises to develop and manufacture high-technology products in America—is the only way the country can hope to pay down its enormous deficits and maintain, let alone raise, its citizens’ standard of living. Reversing the decline in competitiveness will require two drastic changes: 4. What are the big differences in the way communities approach development today compare to 1990, when Porter wrote the Competitive Advantage of Nation? There has been tremendous change in the last 15 or 20 years. Before Competitive Advantage was published, the dominant view was that we need to get costs down, offer incentives, and have a development department that hunts for investment. I think the level of sophistication has risen at the state and local level. They now understand that competitiveness does not just mean low costs. Another big change from 20 years ago is that the notion of industry clusters is now pretty much universal. Many regions now look at development in these terms, and have identified hundreds and hundreds of different clusters. I think that the fact that productivity growth has risen dramatically shows that economic development has been a big success over the past few years. Which of the following forces is commonly reduced through the loyalty program?Therefore, various firms organize events like loyalty programs to interact and increase their customer's loyalty to retain them and reduce the influence of buyer power on their business.
Which of the following forces is commonly reduced through?Which of the following forces is commonly reduced through the use of switching costs? Customer power, supplier power, threat of products or services, threat of new entrants, and rivalry among existing competitors are all included in Porter's Five Forces Model.
Which of the following is an example of the way that information technology can reduce supplier power?Internet-based reverse auctions are an excellent example of the way that information technology can reduce supplier power for an organization and create a competitive advantage.
Which of the following is not one of the forces used in Porter's five forces model?Political factor is not one of the Porter's five force factor.
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