MCQ's-- all 3's
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Kyle Strausheim
May 7, 2012, 6:08:30 PM5/7/12
to BUS479 MCQs
1.) You are a manager for a company that is experiencing a pushback
from consumers on a high-tech gadget that you recently released.
Complaints include user-friendliness, glitches, price, and overall not
performing up to the customers’ expectations. You decide to put
together a team to come up with solutions to fix the problems and
create a newly enhanced version of the product. Of the following
teams, which would have the best chance of creating an ideal solution
to this problem?
a.) Three experts in the technology behind the gadget who will repair
the problems and add more features.
b.) Five marketing professionals who will research the customer
complaints, and find out what they want to see in the product.
c.) A consultant partnership, who can streamline your production
process and allow you to lower the price of the product and fix the
glitches that are occurring from error in the production line.
CORRECT ANSWER>>d.) A group consisting of 5 people with nothing in
common except slight knowledge of the product: a marketing expert, a
technological guru, a consumer, a distribution manager, and a
financial analyst.
e.) A group of 6 consumers from the same demographic group that your
product is aimed toward, all who are avid users of the company’s
products.
2.Which of the following would a company be LEAST worried about when
becoming a first-mover in a market?
a.)The possibility that the timing is not right and the market is not
quite ready for your product.
CORRECT ANSWER >>b.)The possibility that competitors will quickly
begin to follow you.
c.)The possibility that your initial performance will set consumer’s
standards higher than you are able to perform up to later.
d.)Spending too much money to get your share in the market.
e.)Your business model missing some fundamental elements.
3. Key resources are the most important assets that are necessary in
order for a business model to work. Which of the following resources
would NOT be considered a key resource?
a.) Physical assets: property, plant, and equipment
CORRECT ANSWER>>b.) Legal resources: relationship with a legal group
in preparation of possible future law suits.
c.) Intellectual resources: brands, patents, proprietary knowledge,
and customer databases
d.) Human resources: the human power behind the operation
e.) Financial resources: funding sources
4.)Which of the following is NOT a threat to a business strategy?
a.)The strategy is losing distinctiveness, and does not defy industry
norms.
b.)The strategy is facing discontinuities that significantly reduce
economic power.
c.)The strategy is no longer keeping the pace of improvement in key
performance metrics
CORRECT ANSWER>>d.)The strategy is challenging industry norms that
have not been defied before
e.)The strategy is facing decreasing margins due to increasing
customer power and bargaining strength.
5.)Innovators face many challenges on their journey to find success.
The answer to finding profit and business growth does not entirely lie
within finding better management and management techniques, or
throwing out the current capabilities, organizational structures, and
decision-making processes that have worked in the past. Which of the
following considerations should NOT be used by an innovator in the
face of dilemma?
a.)Technology can sometimes progress faster than the market demand.
b.)The allocation of resources process may eliminate a proposal that
could have been successful had it been given a higher priority.
CORRECT ANSWER>>c.)It is necessary for a firm to stretch or force
technology that will be useful in the future back to the needs of
their current, mainstream customers in order for them to find
immediate success.
d.)The firm’s capabilities may be underestimated if their value
network is not taken into consideration and they do not have a
flexible tolerance for failure.
e.)An established firm’s conventional managerial wisdom can create a
barrier to entry for itself through a short-term view in which
investment in future technology that is ahead of the market is
eliminated because it does not make sense.
from consumers on a high-tech gadget that you recently released.
Complaints include user-friendliness, glitches, price, and overall not
performing up to the customers’ expectations. You decide to put
together a team to come up with solutions to fix the problems and
create a newly enhanced version of the product. Of the following
teams, which would have the best chance of creating an ideal solution
to this problem?
a.) Three experts in the technology behind the gadget who will repair
the problems and add more features.
b.) Five marketing professionals who will research the customer
complaints, and find out what they want to see in the product.
c.) A consultant partnership, who can streamline your production
process and allow you to lower the price of the product and fix the
glitches that are occurring from error in the production line.
CORRECT ANSWER>>d.) A group consisting of 5 people with nothing in
common except slight knowledge of the product: a marketing expert, a
technological guru, a consumer, a distribution manager, and a
financial analyst.
e.) A group of 6 consumers from the same demographic group that your
product is aimed toward, all who are avid users of the company’s
products.
2.Which of the following would a company be LEAST worried about when
becoming a first-mover in a market?
a.)The possibility that the timing is not right and the market is not
quite ready for your product.
CORRECT ANSWER >>b.)The possibility that competitors will quickly
begin to follow you.
c.)The possibility that your initial performance will set consumer’s
standards higher than you are able to perform up to later.
d.)Spending too much money to get your share in the market.
e.)Your business model missing some fundamental elements.
3. Key resources are the most important assets that are necessary in
order for a business model to work. Which of the following resources
would NOT be considered a key resource?
a.) Physical assets: property, plant, and equipment
CORRECT ANSWER>>b.) Legal resources: relationship with a legal group
in preparation of possible future law suits.
c.) Intellectual resources: brands, patents, proprietary knowledge,
and customer databases
d.) Human resources: the human power behind the operation
e.) Financial resources: funding sources
4.)Which of the following is NOT a threat to a business strategy?
a.)The strategy is losing distinctiveness, and does not defy industry
norms.
b.)The strategy is facing discontinuities that significantly reduce
economic power.
c.)The strategy is no longer keeping the pace of improvement in key
performance metrics
CORRECT ANSWER>>d.)The strategy is challenging industry norms that
have not been defied before
e.)The strategy is facing decreasing margins due to increasing
customer power and bargaining strength.
5.)Innovators face many challenges on their journey to find success.
The answer to finding profit and business growth does not entirely lie
within finding better management and management techniques, or
throwing out the current capabilities, organizational structures, and
decision-making processes that have worked in the past. Which of the
following considerations should NOT be used by an innovator in the
face of dilemma?
a.)Technology can sometimes progress faster than the market demand.
b.)The allocation of resources process may eliminate a proposal that
could have been successful had it been given a higher priority.
CORRECT ANSWER>>c.)It is necessary for a firm to stretch or force
technology that will be useful in the future back to the needs of
their current, mainstream customers in order for them to find
immediate success.
d.)The firm’s capabilities may be underestimated if their value
network is not taken into consideration and they do not have a
flexible tolerance for failure.
e.)An established firm’s conventional managerial wisdom can create a
barrier to entry for itself through a short-term view in which
investment in future technology that is ahead of the market is
eliminated because it does not make sense.
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