When a firm provides a specialized product or service for a narrow target market better than competitors?

Q: Which of the following is not one of the competitive forces of Porters model?

Political factor is not one of the Porters five force factor. The Porters five forces tool is a simple but powerful tool to evaluate the power of business. Porters Forces Analysis assumes that there are important forces that determine competitive power in a business situation.

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What are the four major types of competitive strategy?
What are the two broad strategies for building a competitive advantage?
Which of the following compares the efficiency and effectiveness of your business processes against strict standards?
Which of the following is not one of the competitive forces of Porter's model?

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Question	Answer
Which model is used to describe the interaction of external forces that affect an organization's strategy and ability to compete?	Competitive forces model
As discussed in the chapter opening case, which of the four generic strategies did T.J. Maxx employ to combat the competition offered by Target, Kohls, Walmart, Macy's and pure online stores like Rue La La and Gilt Groupe?	Market niche focus
The expenses incurred by a customer or company in lost time and resources when changing from one supplier or system are known as:	Switching costs
In environmental scanning, a firm may use information systems to:	Identify external events that may affect it
The Value Chain Model:	Highlights specific activities in the business where competitive . . .
A _________ is an activity at which a firm excels as a world-class leader.	Core competency
Firms use a ________ strategy to provide a specialized product or service for a narrow target market better than competitors.	Market niche
In the value chain model, support activities are most directly related to the production and distribution of the firm's products and services, which create value for the customer.	False
A manufacturer of deep-sea oil rigs may be least concerned about this marketplace force.	New market entrants
The internet raises the bargaining power of customers by:	Making information available to everyone
Along with capital, _______ is the primary production input that the organization uses to create products and services.	Labor
The ______ model highlights the primary or support activities that add a margin of value to a firm's products or services where information systems can best be applied to achieve a competitive advantage.	Value chain
An example of a divisionalized bureaucracy is a:	Fortune 500 firm.
A substitute product of most concern for a cable TV distributor is:	Satellite TV
High product differentiation is a sign of a transparent marketplace.	False.
How does the technical view of organizations fall short of understanding the full impacts of information systems in a firm?	It sees the inputs and outputs, labor and capital, as being infinitely malleable
Walmart's continuous replenishment system allows it to:	Achieve low-cost leadership
Research has shown that a majority of firms are able to align their information technology with their business goals.	False
All of the following are competitive forces except:	External environment
Business processes are collections of:	Routines
A firm can exercise greater control over its suppliers by having:	More suppliers
The four major competitive strategies are:	Low-cost leadership, product differentiation, focus on market niche, and customer and supplier intimacy
Routines are also called Standard Operating Procedures.	True
Network economics:	Sees the cost of adding new members as inconsequential.
An efficient customer response system directly links consumer behavior to distribution and production and supply chains.	True
A competitive force challenging the publishing industry is:	Substitute products or services
Mass customization offers individually tailored products or services using the same resources as mass productions	True
In demonstration of network economics, the more people that use eBay's site, the greater the value of the site.	True
The parts of an organization's infrastructure, human resources, technology, and procurement that make the delivery of the firm's products or services possible are known as ______ activities.	Support
All of the following statements are true about information technology's impact on business firms except:	It helps firms expand in size.
Which of the following best illustrates the use of information systems to focus on market niche?	A department store creating specialized products for preferred customers.
Which of the following is not a major feature of organizations that impacts the use of information systems:	Agency costs
Under Mintzberg's classification of organizational structure, the knowledge-based organization where goods and services depend on the expertise and knowledge of professionals falls under the category of:	Professional bureaucracies
Amazon's use of the internet as a platform to sell books more efficiently than traditional bookstores illustrates a use of information services for:	Low-cost leadership
An activity businesses perform to measure and compare business processes to similar processes of other companies within their industry is:	Benchmarking
When two organizations pool markets and expertise that result in lower costs and generate profits, it is referred to as creating:	Synergies
A professional bureaucracy is a knowledge-based organization where goods and services depend on the expertise and knowledge of professionals.	True
Switching costs increase when customers are strongly linked to products and platforms.	True
The term Business Ecosystem describes the loosely coupled but interdependent networks of suppliers, distributors, outsourcing firms, transportation service firms, and technology manufacturers.	True
An organization is a:	Stable, formal social structure that takes resources from the environment and processes them to produce outputs, formal, legal entity that must abide by laws, and a collection of people and other social elements.
Nike's forays into information technology represent an effort to:	Achieve product differentiation
The more any given resource is applied to production, the lower the marginal gain in output, until a point is reached where the additional inputs produce no additional output. This is referred to as:	The law of diminishing returns
Which of the following represent the primary activities of a firm:	Inbound logistics, outbound logistics, operations, services, sales and marketing
A ______ is a collection of independent firms that use information technology to coordinate their value chains to collectively produce or service for a market.	Value web
You are consulting for a cosmetics distributor who is interested in determining the benefits it could achieve from implementing new information systems. What will you advise as the first step?	Perform a strategic systems analysis.
Which of the following is one of the support activities in a firm's value chain?	Technology
An organization is seen as a means by which primary production factors are transformed into outputs consumed by the environment according to the _______ definition of organizations.	Microeconomic
The value chain model classifies all company activities as primary activities.	False
A collection of independent firms that uses information technology to coordinate their value chains to produce a product or service for a market collectively is called a:	Value web
Mintzberg classifies a large bureaucracy existing in a slowly changing environment that produces standard products and is dominated by centralized management as a _______ bureaucracy.	Machine
The ability to offer individually tailored products or services using the same production resources as bulk production is known as:	Mass customization
All of the following are IT-enabled products and services providing competitive advantage except:	Walmart's RetailLink system
A company's competitive advantages ultimately translate into higher stock market valuations than its competitors.	True
The use of internet technologies allows companies to more easily sustain competitive advantage.	False
According to research on organizational resistance, the four components that must be changed in an organization in order to successfully implement a new information system are:	Tasks, technology, people, and structure
Some organizations lack bedrock, unassailable assumptions that define their goals and products.	False
______ technologies radically change the business landscape and environment.	Disruptive
Customers are one of the competitive forces that affect an organization's ability to compete.	True
An example of a keystone firm within a business ecosystem is:	Apple and software application writers in the mobile platform ecosystem.
'Synergies' occur when the output of some units in a firm can be used as inputs to other units, lowering cost and generating profits.	True
All of the following industries have been disrupted by the internet except:	Clothing
The effect of the internet has been to decrease the bargaining power of customers.	False
Sociotechnical changes affecting a firm adopting new information systems requiring organizational change can be considered:	Strategic transitions
The divergent viewpoints about how resources, rewards, and punishments should be distributed, and the struggles resulting from these differences are known as:	Politics
According to agency theory, the firm is viewed as a:	"Nexus of contracts" among self-interested individuals
A virtual company:	Uses networks to connect people, assets, and ideas
Which of the following has a low barrier to entry:	Restaurant
The competitive forces model cannot be used to analyze modern digital firms which face new competitive forces that are not true of traditional firms.	False
What are the most successful solutions or methods for achieving a business objective?	Best practices
Information systems technology can be viewed as a factor of production that can be substituted for traditional capital and labor from the viewpoint of economics.	True
How are information systems used at the industry level to achieve strategic advantage?	By building industry-wide, IT supported consortia and symposia
How do information systems enhance core competencies?	By encouraging the sharing of knowledge across business units

What are the four major types of competitive strategy?

4 Types of Competitive Strategies.

Cost leadership strategy. It suits large businesses that can produce a big volume of products at a low cost, and that is why Walmart implemented this strategy. ... .

Differentiation leadership strategy. ... .

Cost focus strategy. ... .

Differentiation focus strategy..

What are the two broad strategies for building a competitive advantage?

There are two basic types of competitive advantage: cost leadership and differentiation. This book describes how a firm can gain a cost advantage or how it can differentiate itself.

Which of the following compares the efficiency and effectiveness of your business processes against strict standards?

Benchmarking involves comparing the efficiency and effectiveness of your business processes against strict standards and then measuring performance against those standards.

Which of the following is not one of the competitive forces of Porter's model?

Political factor is not one of the Porter's five force factor. The Porter's five forces tool is a simple but powerful tool to evaluate the power of business. Porter's Forces Analysis assumes that there are important forces that determine competitive power in a business situation.

When a firm provides a specialized product or service for a narrow target market better than competitors?

What are the four major types of competitive strategy?

What are the two broad strategies for building a competitive advantage?

Which of the following compares the efficiency and effectiveness of your business processes against strict standards?

Which of the following is not one of the competitive forces of Porter's model?

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