MIS 200 Drexel Exam 1 Questions with Correct Answers SWOT analysis Correct Answer ✓✓ strengths and weaknesses originate inside an organization, or internally.Opportunities and threats originate outside an organization, or externally, and cannot always be anticipated or controlled.
Porter's three generic strategies: Correct Answer ✓✓ Organizations
typically follow one of Porter's three generic strategies when entering a new market • Broad cost leadership • Broad differentiation • Focused strategy
Porter's Five Forces Model Correct Answer ✓✓ : an easy framework to
understand and offers a quick way to analyze the nature of competition within a market.• Buyer power (customer power)- The ability of buyers to affect the price of an item.
- Switching cost - Manipulating costs that make customers reluctant to 1 / 2
switch to another product
- Loyalty program - Rewards customers based on the amount of
- Entry barrier - A feature of a product or service that customers have
- Product differentiation - Occurs when a company develops unique
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business they do with a particular organization • Supplier power - The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services).• Threat of substitute products or services - High when there are many alternatives to a product or service and low when there are few alternatives • Threat of new entrants - High when it is easy for new competitors to enter a market and low when there are significant entry barriers
come to expect and entering competitors must offer the same for survival • Rivalry among existing competitors - High when competition is fierce in a market and low when competitors are more complacent
differences in its products or services with the intent to influence demand Information age Correct Answer ✓✓ The present time, during which infinite quantities of facts are widely