Chp 2 MGMT 460 QUIZ

1. Which of the following statements is most correct?
Select one:
a. KSFs are often sufficient, but not necessary for competitive advantage.
b. KSFs are often necessary, but not sufficient for competitive advantage.
c. KSFs are both necessary and sufficient for competitive advantage.
Incorrect
d. KSFs are neither necessary nor sufficient for competitive advantage.
e. None of the above statements is correct.
2. The purpose of NAFTA is to:
Select one:
a. provide fair and equitable tariff rates for trade between the United States, Canada, and Mexico.
b. phase out all trade and tariff barriers between North America and South America.
c. curb illegal immigration from Mexico to the United States.
d. phase out all trade and tariff barriers between the United States, Canada, and Mexico.
Correct
3. Response-based competitive advantage can be:
a. reliable response.
b. quick response.
c. flexible response.
d. all of the above.
Correct
4. Value-chain analysis can be used to determine if a business is adding unique value in which of the following areas?
a. quality management
b. process innovation
c. human resources
d. product research
Incorrect
e. all of the above
5. Which of the following has progressed the FURTHEST along its product life cycle?
Select one:
a. drive-through restaurants
Correct
b. Xbox 360
c. Boeing 787
d. 3-D game players
e. iPods
6. Cost minimization is an appropriate strategy in which stage of the product life cycle?
Select one:
a. introduction
b. retirement
c. decline
d. growth
Incorrect
e. adolescence
7. Which of the following does NOT represent a valid reason for globalizing operations?
a. reduce responsiveness
Correct
b. improve the supply chain
c. attract and retain global talent
d. reduce costs
e. understand markets
8. A strategy is a(n):
a. simulation used to test various product line options.
b. plan for cost reduction.
c. action plan to achieve the mission.
Correct
d. broad statement of purpose.
e. set of