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Michael E. Porter’s competitive strategies model includes an analysis of the competitive forces that determine the attractiveness of an industry. These forces include 1)The stage of the industry life cycle; 2)Threats of, and barriers to, entry 3)Threat of substitutes 4)The threat of suppliers’ bargaining power

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II, III, and IV only.

I, II, III, and IV.

I and II only.

I and III only.

none

What operations strategy is most likely to be adopted when the product sold by an organization is a commodity and the market is very large?

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Cost strategy.

Service strategy.

Quality strategy.

Flexibility strategy.

none

Which industry factor does not contribute to competitive rivalry?

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High costs of customers switching suppliers.

A firm’s growth must come from winning other firms’ customers.

Price-cutting, large advertising budgets, and frequent introduction of new products.

High fixed costs relative to variable costs.

none

In a product’s life cycle, the first symptom of the decline stage is a decline in the

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Product’s production cost.

Product’s sales.

Product’s prices.

Firm’s inventory levels.

none

Which of the following is a favorable condition for a firm competing in a profitable, expanding industry?

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The firm does not have a strong customer base.

The firm has high costs relative to other firms in the industry.

A few suppliers who can restrict supply.

Compet itors find it difficult to acquire the firm’s customers.

none

A manufacturing company produces plastic utensils for a particular segment at the lowest possible cost. The company is pursuing a cost

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Leadership strategy.

Focus strategy.

Containment strategy.

Differentiation strategy.

none

Structural considerations affecting the threat of substitutes include all of the following except

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Customers’ inclination to use a substitute.

Brand identity.

Relative prices.

Cost of switching to substitutes.

none

Which factor most likely encourages entry into an existing market?

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Knowledge of the industry, with high investments in development.

Governmental subsidies for new investors.

High product differentiation, principally produced by trademarks.

Low fixed exit costs.

none

During the growth stage of a product’s life cycle,

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New product models and features are introduced.

There is little difference between competing products.

The quality of products is poor.

The quality of the products becomes more variable and products are less differentiated.

none

The concurrent action of basic competitive forces as defined by Porter’s model determines the

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Entrance barriers that potential players must face to get into the industry.

Long-term profitability and the competitive intensity of the industry.

Nonvalue-adding activities that should be eliminated.

Rivalry inside the industry.