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Mixed Quiz
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1

The difference between the value of a product to a representative consumer and the average unit cost of producing that product is
A)profitability
B)profit
C)value creation
D)representative profit
E)total profit
2

A strategy that focuses primarily on lowering production costs is
A)an efficiency strategy
B)a differentiation strategy
C)a production oriented strategy
D)a low cost strategy
E)a competitive strategy
3

A _________ strategy focuses primarily on increasing the attractiveness of a product.
A)market
B)product
C)efficiency
D)low cost
E)differentiation
4

Primary activities in a firm include all of the following except
A)logistics
B)research and development
C)production
D)marketing and sales
E)customer service
5

Which of the following is not a support activity in a firm's value chain?
A)company infrastructure
B)research and development
C)logistics
D)human resources
E)information systems
6

Clear Vision's strategy to shift production from the U.S. to Hong Kong and then China is an example of a firm seeking
A)location economies
B)economies of scale
C)value chain efficiencies
D)optimal strategic fit
E)differentiation economies
7

__________ refers to systematic production cost reductions that occur over the life of a product.
A)Learning effects
B)Economies of scale
C)Location economies
D)The experience curve
E)The differentiation curve
8

Toyota's ability to produce high-quality, well-designed cars at lower delivered costs than any other firm in the world is an example of
A)learning curve effects
B)a core competence
C)economies of scale
D)the experience curve
E)leveraging subsidiary skills
9

A firm that faces high pressure for cost reduction and high pressure for local responsiveness should pursue a ______ strategy.
A)multidomestic
B)first mover
C)global
D)international
E)transnational
10

To reduce the potential for opportunism by a strategic alliance partner, a company should do all of the following except
A)expropriate partner knowhow
B)wall off critical technology
C)establish contractual safeguards
D)agree to swap valuable skills and technology
E)seek credible commitments
11

The actions that managers take to attain a firm's goals comprise the firm's strategy.
A)True
B)False
12

Superior value creation relative to rivals requires a firm to have the lowest cost structure in an industry.
A)True
B)False
13

Primary activities are more important to a firm's goal of achieving a competitive advantage than support activities.
A)True
B)False
14

A firm's organizational culture refers to the norms and value systems that are shared among the employees of the organization.
A)True
B)False
15

Learning effects are systematic production cost reductions that occur over the life of a product.
A)True
B)False
16

Firms competing in the global market place are challenged by pressures for cost reductions and pressures to be locally responsive.
A)True
B)False
17

Companies in industries where major competitors are based in low-cost locations, where there is persistent excess capacity, and where consumers are powerful and face low switching costs are faced with intense pressure for cost reductions.
A)True
B)False
18

A firm following a global strategy will orient itself toward achieving maximum local responsiveness.
A)True
B)False
19

Strategic alliances refer to cooperative agreements between potential or actual competitors.
A)True
B)False
20

Partner selection, alliance structure, and the manner in which an alliance is managed are critical to the success of a strategic alliance.
A)True
B)False





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