MGT 450 Week 2 Quiz ~ ( Latest Syllabus - Updated Jan, 2015 - Perfect Tutorial - Scored 100% )

 Question 1.Competitors in an industry that produce more or less the same product have bargaining power over their buyers. 

•   True
• False   

Question 2.What is the essence of strategic thinking? 

•   Thinking about strategic planning   
•   Finding alternative ways of competing and providing customer value   
•   Playing devil’s advocate to what the company is currently doing   
•   All of the above   

Question 3.Strategic thinking is best done during the annual strategic-planning process. 

•   True
• False   

Question 4.A situational monopoly is one of the following: 

•   An instant monopoly   
•   Something no other competitor has   
•   An ownable space for a useful period of time   
•   An opportunity to charge more than competitors   
•   None of the above   

Question 5.Which building block is not among the nine that comprise the business-model canvas?

•   Industry segments   
•   Revenue streams   
•   Customer relationships   
•   Key partnerships   
•   Cost structure   

Question 6.A strategy canvas can depict the relative performance across key competitive factors for both an industry and a particular company or group of companies. 

•   True
• False   

Question 7.An entrepreneurial mindset is: 

•   Seeing things from a customer’s perspective   
•   Noticing a problem that exists   
•   Being able to state the problem clearly   
•   Finding opportunities   
•   All of the above   

Question 8.Finding a “blue ocean” or “situational monopoly” is a legitimate part of strategic thinking. 

•   True
• False   

Question 9.A value curve that is higher than the industry’s or uses issues unfamiliar to the industry is a sign of a blue ocean. 

•   True
• False   

Question 10.Markets and industries are different.

•   True
• False