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Value Chain Analysis and Benchmarking Quiz

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Value Chain Analysis and Benchmarking Quiz

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Questions and Answers

What are some cost elements that affect the relative attractiveness of generic strategies?

Employee training costs and benefits

Advertising and promotional expenses

Market demand and competition analysis

Economies or diseconomies of scale, learning and experience curve effects (correct)

What type of strategy offers products/services to a wide range of customers at the lowest price available on the market?

Type 2 narrow low-cost strategy

Type 3 wide target market differentiation

Type 1 low-cost strategy (correct)

Differentiation strategy

Which factor contributes to some mergers and acquisitions failing?

Increased employee satisfaction

Difficulty in integrating different organizational cultures (correct)

Effective synergy realization

Smooth transition of ownership

What is the advantage associated with being a first mover in the market?

Strategic position for launching aggressive campaigns Signup and view all the answers

What are the means for achieving strategies mentioned in the text?

Build, borrow, buy Signup and view all the answers

What is the main focus of value chain analysis?

Analyzing the activities involved in producing and marketing a product Signup and view all the answers

Which best describes the purpose of benchmarking in value chain analysis?

Finding and implementing best practices from other firms in the industry Signup and view all the answers

What is the key aspect of Michael Porter's Cost Leadership strategy?

Producing at the lowest per-unit cost Signup and view all the answers

How does benchmarking differ from value chain analysis?

Benchmarking examines best practices, while value chain analysis evaluates the entire production process. Signup and view all the answers

Which statement best describes the relationship between differentiation and cost leadership strategies?

Cost leadership must be combined with differentiation to create a sustainable competitive advantage. Signup and view all the answers