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    

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