MidTerm

Question 1

5 Forces Model

Answer 1

Rivalry/Competitors,Threat of New Entry,Bargaining Power of Suppliers,Bargaining Power of Buyers,Substitute Products

Question 2

Rivalry/Competitors

Answer 2

Companies within the industry you are competing against

Question 3

Threat of New Entry

Answer 3

Low-High, How difficult it is to be a new entry in the industry

Question 4

Bargaining Power of Suppliers

Answer 4

Low-High, Number of suppliers - the more suppliers the less power they have

Question 5

Substitute Products

Answer 5

Products out of the industry that serve the same need

Question 6

Bargaining Power of Buyers

Answer 6

Low-High, Number of Buyers/Competitors - the more buyers and competitors means less power

Question 7

Primary Activities

Answer 7

Inbound and Outbound Logistics, Operations, Marketing and Sales, Service

Question 8

Support Activities

Answer 8

Firm Infrastructure, Human Resource Management, Technology, Procurement

Question 9

Competitive Strategy

Answer 9

Strategies that allow a business to obtain and maintain a competitive advantage

Question 10

Cost Leadership

Answer 10

When a company is a category leader for low pricing

Question 11

Differentiation

Answer 11

What separates your business from another

Question 12

Focus

Answer 12

Marketing and Selling products to a niche market

Question 13

3 Conditions of a Good Strategy

Answer 13

A good strategy will help a firm reach its objective.
Will produce a good strategic fit because it makes use of strengths when fighting a threat
Provides a competitive advantage to the company

Question 14

PESTEL

Answer 14

Political
Economical
Social
Technological
Environmental
Legal

Question 15

SWOT is not a plan but rather a

Answer 15

Conclusion

Question 16

The use of resources is called

Answer 16

Capabilities

Question 17

A capability that is a strength to a company is a

Answer 17

distinctive or core competency

Question 18

Prisoners Dilemma

Answer 18

Classic example of game theory that shows why 2 competitors may not cooperate. For example, coke and pepsi both have good products they sell for high and make good margins on, if one lowers their price then they make more money and the other makes less, if both lower then they both make less money.

Question 19

Internal Analysis

Answer 19

Company missions/values, Company background, Company resources, BCG Matrix, Channels of distribution, ABC of Customers, Communication Policy

Question 20

External Analysis

Answer 20

Environmental Analysis -PEST, Industry Analysis -Porters 5 Forces, Competitive Analysis - Game theory

Question 21

BCG Matrix

Answer 21

Stars - High Growth Rate High Market Share
Question Marks - High Growth Rate Low Market Share
Cash Cows - Low Growth Rate High Market Share
Pets - Low Growth Rate Low Market Share

Question 22

ABC Customers

Answer 22

Most important and high spending customers to the most basic customer who is low spending