Question : Objective 13.1 1) ________ describes how an organization matches its own : 1216949

Objective 13.1

1) ________ describes how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its overall objectives.

A) Strategy

B) Planning

C) Learning and growth perspective

D) Customer perspective

2) In general, profit potential ________ with greater competition, stronger potential entrants, products that are similar, and more-demanding customers and suppliers.

A) increases

B) stays constant

C) decreases

D) increases exponentially

3) Which of the following is NOT a force that shapes an organization’s profit potential?

A) Competitors

B) Equivalent products

C) Bargaining power of input suppliers

D) All of these answers are correct.

4) Which of the following is a force that shapes an organization’s profit potential?

A) Investors

B) Potential entrants into the market

C) Creditors

D) Research and development

5) ________ is an organization’s ability to offer products or services that are perceived by its customers as being superior and unique relative to those of its competitors.

A) Strategy

B) Product differentiation

C) Cost leadership

D) The balanced scorecard

6) ________ is an organization’s ability to achieve low costs relative to competitors through productivity and efficiency improvements, elimination of waste, and tight cost control.

A) Strategy

B) Product differentiation

C) Cost leadership

D) The balanced scorecard

7) An organization that is using the product differentiation approach would:

A) focus on tight cost control

B) carefully cultivate their brands

C) provide products that are similar to competitors

D) offer products at a lower cost than competitors

8) An organization that is using the cost leadership approach would:

A) incur costs for innovative R&D

B) provide products at a higher cost than competitors

C) focus on productivity through efficiency improvements

D) bring products to market rapidly

Answer the following questions using the information below:

Stewart Corporation plans to grow by offering a sound system, the SS3000, that is superior and unique from the competition. Stewart believes that putting additional resources into R&D and staying ahead of the competition with technological innovations is critical to implementing its strategy.

9) Stewart’s strategy is:

A) product differentiation

B) downsizing

C) reengineering

D) cost leadership

Answer the following questions using the information below:

Riter Corporation manufactures water toys. It plans to grow by producing high-quality water toys at a low cost that are delivered in a timely manner. There are a number of other manufacturers who produce similar water toys. Riter believes that continuously improving its manufacturing processes and having satisfied employees are critical to implementing its strategy.

10) Riter’s strategy is:

A) product differentiation

B) downsizing

C) reengineering

D) cost leadership