Quiz 3: Key Business Strategies in MNGT475 for Spring 2024

1/23/24, 3:34 PM Quiz 3: BUSINESS STRATEGIES MNGT475 SEC 004 Spring 2024 https://canvas.unl.edu/courses/170041/quizzes/391622?module_item_id=4676788 1/6 Quiz 3 Due Feb 6 at 11:59pm Points 10 Questions 10 Available until Feb 6 at 11:59pm Time Limit 30 Minutes Instructions Attempt History Attempt Time Score LATEST Attempt 1 11 minutes 10 out of 10  Correct answers will be available on Feb 7 at 12am. Score for this quiz: 10 out of 10 Submitted Jan 23 at 3pm This attempt took 11 minutes. Quiz 3 will cover questions about Chapter 3. 1 / 1 pts Question 1 Restrictions imposed by the government, such as export quotas on certain products, are a part of the ________ environment of the PESTEL framework. political sociocultural economic ecological

1/23/24, 3:34 PM Quiz 3: BUSINESS STRATEGIES MNGT475 SEC 004 Spring 2024 https://canvas.unl.edu/courses/170041/quizzes/391622?module_item_id=4676788 2/6 1 / 1 pts Question 2 Shoes Inc. has been operating in a country for almost a decade. The country is currently experiencing an economic downturn. Which of the following is the most likely benefit of this economic condition for Shoes Inc.? Shoes Inc. will have to expand its operations to meet the increasing consumer demand. Shoes Inc. will experience less competition from rival companies. Shoes Inc. will have better access to highly skilled human capital at a lower cost. Shoes Inc. will find it easier to raise prices to increase profits. 1 / 1 pts Question 3 Drives Inc., Digi Inc., and Chip Corp. are all companies that manufacture and sell consumer electronics. They procure their component parts from a similar set of suppliers in China and sell the final product to customers with similar needs. Thus, the three companies together are a part of a(n) occupational group. focus group. plant. industry.

1/23/24, 3:34 PM Quiz 3: BUSINESS STRATEGIES MNGT475 SEC 004 Spring 2024 https://canvas.unl.edu/courses/170041/quizzes/391622?module_item_id=4676788 3/6 1 / 1 pts Question 4 The relative bargaining power of suppliers is most likely low when there are no readily available substitutes for the products and services they offer. the suppliers provide products that are differentiated. incumbent firms face low switching costs when changing suppliers. the suppliers’ industry is more concentrated than the industry it sells to. 1 / 1 pts Question 5 Micro Corp. is a company that supplies microprocessors to Processors Inc., a computer hardware company. When Processors Inc. demands lower prices for the microprocessors, Micro Corp. makes it clear that it would profit more from launching its own brand of laptops and desktops in the market. Fearing the competition it would then face from Micro Corp., Processors Inc. decides to buy the microprocessors at the quoted price itself. In this scenario, Micro Corp., as a supplier, has exercised its bargaining power by threatening to forward integrate. outsource. backward integrate. crowdsource.

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1/23/24, 3:34 PM Quiz 3: BUSINESS STRATEGIES MNGT475 SEC 004 Spring 2024 https://canvas.unl.edu/courses/170041/quizzes/391622?module_item_id=4676788 4/6 1 / 1 pts Question 6 Which of the following is a feature of a fragmented industry? It allows firms to set prices. One large firm dominates the industry. It consists of many small firms. It tends to generate high profitability. 1 / 1 pts Question 7 Owners of banana plantations in the country of Cantonica grow their own bananas and supply them to various stores and restaurants all over the country. There are many plantation owners supplying to a huge number of companies, and they are typically unable to differentiate their products from one another. They also do not have the power to fix their own prices in the industry. In addition, these suppliers can only achieve competitive parity and not a competitive advantage. Thus, the banana industry in Cantonica best illustrates a(n) ________ structure. monopolistic perfectly competitive oligopolistic monopolistically competitive

1/23/24, 3:34 PM Quiz 3: BUSINESS STRATEGIES MNGT475 SEC 004 Spring 2024 https://canvas.unl.edu/courses/170041/quizzes/391622?module_item_id=4676788 5/6 1 / 1 pts Question 8 Which of the following statements is true of an oligopoly? It is often analyzed using game theory. It is characterized by low entry barriers. Competing firms are most often independent of one another. Price-competition is the preferred mode of competition. 1 / 1 pts Question 9 Which of the following real-world examples best supports the statement that strategic commitments to a specific industry may be the result of political rather than economic considerations? Airbus and Boeing are likely to exit the aircraft manufacturing industry when industry profit potential falls to zero. A number of European governments created Airbus through direct subsidies to provide a countervailing power to Boeing. The traditional U.S. airlines Delta, United, and American Airlines have large fixed costs to maintain their network of routes that affords global coverage, frequently in conjunction with foreign partner airlines. Given their strategic commitments, neither Delta nor United is likely to merge with other airlines.

1/23/24, 3:34 PM Quiz 3: BUSINESS STRATEGIES MNGT475 SEC 004 Spring 2024 https://canvas.unl.edu/courses/170041/quizzes/391622?module_item_id=4676788 6/6 1 / 1 pts Question 10 Some scholars have added a sixth force to Porter’s Five Forces model. This sixth force, ________, is believed to add value to the original product offering (or service) when the two are used in tandem. technological factor complement value chain mobility barrier Quiz Score: 10 out of 10

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MNGT475 Quiz 3

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