BUS 475 FINAL EXAM LATEST - ACTUAL

BUS 475 FINAL EXAM LATEST - ACTUAL

EXAM 100 QUESTIONS AND CORRECT DETAILED

ANSWERS (VERIFIED ANSWERS ) |ALREADY GRADED

A+

The managers at Spring Hotels want to find out how their competitor, Crimson Valley Hotels, consistently outdoes them. Spring Hotels have the same facilities and equipment as Crimson Valley Hotels, but each month its efforts to reach the benchmark set by Crimson Valley Hotels fails. This is because Crimson Valley has elements such as great location, beautiful architectural design, and customer-friendly employees that create an edge over other companies in its industry.Which of the following does this scenario exemplify? - ANSWER- Resource-based view of the firm

The owners of Carpo Inc., a watch company, also own a steel company and a leather goods manufacturing company. This relieves them from expenses that they would have to bear, if they had to rely on outside sources for the raw materials needed to make their watches. This enables the company to produce watches at a much lesser cost than other companies in the industry. This scenario best illustrates a(n) ________. - ANSWER- Cost advantage

Appetit Corp. is a famous deli in the metropolitan city of Atika. The company became popular because of its consistency in the quality of bread it provided and its creativity in adding unique elements to create different flavors. One of Appetit's products is an infusion of peanut butter and barbeque sauce filled in a bun. Appetit Corp. also engages its customers in contests that ask them to make their own unique variety of 1 / 3

bread, which later features among the company's products with the winner's name. All these factors have helped to create unique value that keeps its customers coming back for more. This scenario best illustrates Appetit Corp.'s ________. - ANSWER- Capabilities

The managers at Marker Inc., a moving company, want to formulate a plan of action to implement their mission, "We deliver what we promise.Always." To achieve this, the company chooses the best markets to invest in, buys state-of-the-art transportation vehicles, employs spill and damage proof style of packaging equipment, and develops a service- oriented mentality. This method of conducting business earns them a reputation. This scenario is an example of ________. - ANSWER- Deliberate strategy

The board of directors of White Corp. meets to analyze the company's competencies and scope for improvement. It also examines whether White Corp. has been able to meet its potential customers' requirements.The board of directors of White Corp. is involved in a(n) ________. - ANSWER- Internal analysis

Which of the following statements is true about the role of technology in a firm's profitability? - ANSWER- Technological change can often lower barriers to entry.

The attractiveness of an industry is ________. - ANSWER- The degree to which an average firm in the industry can earn good profits

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Which of the following statements best describes forward integration? - ANSWER- A firm goes into the business of its former buyers, rather than continuing to sell products to them.

The airline industry is a profitable industry. The firms in this industry create barriers to entry through patents and regulations in order to reduce the threat of new entrants. It also minimizes the threat of substitutes while keeping rivalry to a minimum. The airline industry can be best categorized as a(n) ________. - ANSWER- Attractive industry

A federal act was passed in the country of Arahonia which changed the way many of the Arahonian industries worked. Most of the firms in Arahonia had to restructure their strategic plans accordingly. This resulted in the larger firms acquiring the smaller ones which did not exit the market altogether. This scenario best illustrates a(n) ________. - ANSWER- Regulatory force

The management of GNH Corp., a chemical plant in the city of Werkshore, has promised to take care of its surroundings. It assured to dispose its factory wastes in a way that does not affect the habitat. In order to do so, the company had to go through renovations that allow the plant to take up green initiatives. Which of the following is the source of change for GNH Corp.? - ANSWER- Natural environment

Hercules Inc. is a high performing steel manufacturing company. Chang, a stakeholder of the company, believes that it is important to protect the company from threats. Hercules Inc. has often struggled to overcome rivalry and product substitutes. Chang claims that if the company constantly keeps a check on itself by creating power over buyers, paying

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