Bussiness Management-5(1-20questions)mcq.

Question 1 of 20   
The most intense level of competition will be under situations of pure competition in which there is/are:

 

    A. one seller and a low degree of differentiation.   
 

    B. many sellers and a high degree of differentiation.   
 

    C. many sellers and no degree of differentiation.   
 

    D. few sellers and a low degree of differentiation.   


 

Question 2 of 20   
Which of the following factor(s) determine the intensity of competition in an industry according to the industry perspective?

 

    A. The number of sellers   
 

    B. The number of buyers   
 

    C. How well different organizations are able to meet customers needs   
 

    D. The identification of strategic groups   


 

Question 3 of 20   
The adaptive strategies approach was developed by:

 

    A. Miles and Snow.   
 

    B. Mintzberg.   
 

    C. Abell.   
 

    D. Porter.   


 

Question 4 of 20   
Which of the following strategies is appropriate for business units that search for market stability and produce only a limited product line directed at a narrow segment of the total potential market?

 

    A. Prospector competitive strategy   
 

    B. Defender competitive strategy   
 

    C. Analyzer competitive strategy   
 

    D. Reactor competitive strategy   


 

Question 5 of 20   
Systematically assessing and evaluating possible courses of action is known as the __________ strategy.

 

    A. reactor   
 

    B. defender   
 

    C. analyzer   
 

    D. focus   


 

Question 6 of 20   
According to Porter, the "appropriate" competitive strategy is based on the organization's:

 

    A. manufacturing operations.   
 

    B. competitive advantage.   
 

    C. public relations department.   
 

    D. financial forecasts.   


 

Question 7 of 20   
The three generic types of competitive strategies are:

 

    A. vertical integration, diversification, and growth.   
 

    B. cost leadership, differentiation, and focus.   
 

    C. prospector, defender, and analyzer.   
 

    D. build market share, maintain industry rank, and increase business strength.   


 

Question 8 of 20   
According to Michael Porter, competitive advantage can come from:

 

    A. having the lowest price in the industry.   
 

    B. having the lowest costs in the industry.   
 

    C. having the most efficient production process in the industry.   
 

    D. having the most creative marketing strategies in the industry.   


 

Question 9 of 20   
When there is a broad competitive scope and there are low costs obtained, Porter suggests a(n) __________ strategy.

 

    A. cost leadership   
 

    B. differentiation   
 

    C. prospector   
 

    D. reactor   


 

Question 10 of 20   
Which of the following is the main objective in the successful pursuit of the cost leadership strategy?

 

    A. Product innovation   
 

    B. Efficiency in operations   
 

    C. Customer focus   
 

    D. Product design   


 

Question 11 of 20   
When customers consistently and repeatedly seek out, purchase, and use a particular brand, this is a situation of:

 

    A. effective production policies.   
 

    B. cultural dynamics.   
 

    C. brand loyalty.   
 

    D. operations management.   


 

Question 12 of 20   
Which strategy is used by businesses that compete in a narrow market and use only one common competitive weapon?

 

    A. Differentiated strategy   
 

    B. Focus strategy   
 

    C. Analyzer strategy   
 

    D. Prospector strategy   


 

Question 13 of 20   
The main goal of a company pursuing a differentiation strategy is to:

 

    A. increase market share and profits.   
 

    B. lower production costs and increase efficiency.   
 

    C. provide products or services that are unique.   
 

    D. improve customer-oriented service.   


 

Question 14 of 20   
When an organization is not successful at pursuing a low-cost or differentiation strategy, this concept is referred to by Porter as:

 

    A. focus (cost).   
 

    B. focus (differentiation).   
 

    C. stuck in the middle.   
 

    D. prospector.   


 

Question 15 of 20   
One advantage of the focus strategy is:

 

    A. the organization will get to know its market niche very well.   
 

    B. the organization has difficulty lowering costs significantly.   
 

    C. other organizations may be able to offer lower costs of the product.   
 

    D. the organization may lose sight of changing customer needs.   


 

Question 16 of 20   
A company that produces commodity aluminum should pursue which of the following generic competitive strategies?

 

    A. Cost leadership   
 

    B. Differentiation   
 

    C. Growth   
 

    D. Profit   


 

Question 17 of 20   
Using Mintzberg's framework, organizations that compete on the basis of providing desirable product features and design configurations are using differentiation by:

 

    A. product design.   
 

    B. product quality.   
 

    C. price.   
 

    D. marketing image.   


 

Question 18 of 20   
When an organization attempts to exploit and strengthen its competitive position through attacks on a competitor's position, this ploy is known as:

 

    A. defensive strategies.   
 

    B. offensive moves.   
 

    C. defensive moves.   
 

    D. offensive strategies.   


 

Question 19 of 20   
A frontal assault with regard to competitive actions means:

 

    A. matching the competition along the dimension of price only.   
 

    B. matching the competitor along dimensions such as price, promotion, and distribution.   
 

    C. holding off competitors with the use of international markets.   
 

    D. remaining reactive the actions of the competition.   


 

Question 20 of 20   
The small, intermittent, seemingly random assaults on the markets of the competitors are referred to as __________ attacks.

 

    A. guerrilla   
 

    B. resource   
 

    C. industrial   
 

    D. maneuvered