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Exam 3: Strategy and Information Systems

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Question 1

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Briefly describe the concepts of value, margin, and value chain as defined by Porter.

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Porter defined value as the amount of mo...

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The total margin of the value chain is the difference between the total value added and the total costs incurred.

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According to Porter's five forces model, the intensity of each of the forces determines the characteristics of the industry, how profitable it is, and how sustainable that profitability will be.

Focused cost leadership is observed when a product has the lowest cost ________.

Which of the following value chain activities involves assisting users with handling of the products after sale, thus maintaining and enhancing the products' value?

I-scream-4 Ice Cream recently faced competition against their flagship brand of "Orange peel ice cream." The competitor made significant in-roads into this market by offering three varieties of "Orange peel ice cream." I-scream-4 Ice Cream decided to counter this threat by introducing five new varieties of ice creams. Which competitive strategy is I-scream-4 implementing?

Organizations cannot gain a competitive advantage by enhancing existing products or services.

Briefly explain the process implementation competitive strategies.

FunText is a company that owns an app used for text messaging. It recently offered a membership extension of six months without any additional charges to its existing customers who had registered for a three-year membership. By doing this, which competitive strategy did FunText implement?

Lynn, the manager of a transportation company, goes through the week's delivery schedule. She calls her team and assigns territories for each executive. She contacts the fleet supervisor to arrange trucks for transportation. Which activity of the value chain is Lynn executing?

Which of the following value chain activities involves inducing buyers to purchase a product and providing a means for them to do so?

The cost of the business process is the cost of the inputs plus the cost of the outputs.

Porter's five forces model is used to assess ________.

Which of the following value chain activities involves collecting, storing, and physically distributing the product to buyers?

Which of the following value chain activities involves transforming raw materials into a finished product or service?

In a manufacturing business, the materials ordering process transforms cash into a raw materials inventory.

Cassandra runs a downtown boutique that sells customized clothes. One of her customers wishes to purchase a trench coat with a bejeweled clip. Cassandra contacts "Gems and Stones" and places an order for the clip. This activity can be classified under ________.

In a manufacturing business, which of the following transforms finished goods into cash?

The competitive strategy of locking in customers by making it difficult for them to move to another product is called establishing high switching costs.

A telecom service provider focusing on high-end users is following an industry-wide differentiation strategy.