Question 1

Resource allocation refers to the processes of making the selected applications and projects a reality,such as hiring staff;purchasing equipment;licensing,purchasing,or writing software;and contracting vendors.

Accepted Answer

False

Question 2

Travelocity's initial strategy was to concentrate on airline ticketing,hotel booking,and selling advertisements on its Web site.This business model worked very well until the airlines eliminated travel agents' commissions and competitors entered the market successfully.

Accepted Answer

The statement outlines that Travelocity's initial strategy concentrated on airline ticketing, hotel booking, and selling advertisements on its website, and this model worked well until competitors entered the market successfully and airlines eliminated commissions for travel agents.

Question 3

In Porter's view,the majority of the Internet's impacts on the five competitive forces have been positive.

Accepted Answer

Porter argued that the Internet tends to increase competition which can erode company margins and profitability, thus having a negative impact on most of the five competitive forces.

Question 4

The primary reasons for writing a business plan are to acquire funding and nonfinancial resources,to recruit senior management,and to force the business owner to think ahead,set achievable goals,seek out and analyze competitors.

Accepted Answer

These are some of the primary reasons for writing a business plan.

Question 5

A business plan is a tool that is an alternative to narrowly focused financial assessments that measures organizational performance in four areas: finance,customers' assessments,internal business processes,and learning and growth.

Accepted Answer

A business plan is a document that outlines a company's goals and the strategy for achieving them, while the description given refers to the Balanced Scorecard, a strategic planning and management system used to evaluate performance across four perspectives: financial, customer, internal business processes, and learning and growth.

Question 6

Regardless of organizational size,the strategic planning process forces executives,general managers,or business owners to assess the current position of the firm,where it should be,and how to get from here to there.

Accepted Answer

The statement correctly describes the purpose and outcome of the strategic planning process for organizations.

Question 7

In the strategy initiation phase,the organization examines itself,its environment,and the potential contribution that the Internet and other emerging technologies can make to the business.

Accepted Answer

In the strategy initiation phase, the organization does examine itself, its environment, and the potential contribution of emerging technologies like the internet to the business.

Question 8

Strategy assessment is the continuous evaluation of progress toward the organization's strategic goals,resulting in corrective action and,if necessary,strategy reformulation.

Accepted Answer

Strategy assessment involves ongoing monitoring and evaluation of progress towards strategic goals, and taking corrective action and adjusting the strategy as necessary to ensure success.

Question 9

The basic method in scenario planning is that a group of analysts generates simulation games for policy makers.The games combine projected factors about the future,such as demographics,geography,and industrial information with plausible alternative social,technical,economic,and political trends.

Accepted Answer

This statement accurately describes the basic method in scenario planning.

Question 10

SWOT analysis is one method for scanning the business environment to collect and interpret relevant information about direct competitors,indirect competitors,and potential competitors.

Accepted Answer

SWOT analysis is a widely used tool for analyzing the business environment and identifying strengths, weaknesses, opportunities, and threats. It is used to collect and interpret information about competitors and the market landscape to help businesses make more informed decisions.

Question 11

An organizational strategy is a detailed plan for how a business is going to accomplish its mission,what its goals should be,and what plans and policies it will need to accomplish these goals.

Accepted Answer

The answer of An organizational strategy is a detailed plan...

Question 12

In e-commerce,evidence shows that there is always a real advantage to being the first mover in an industry or market segment.

Accepted Answer

While being a first mover can offer advantages such as market dominance and brand recognition, it does not always guarantee success. Later entrants can learn from the mistakes of first movers, improve upon their offerings, and sometimes overtake them in the market.

Question 13

Any contemporary strategy-setting process must include the Internet.

Accepted Answer

In the current digital age, the Internet has become a crucial component of any organization's strategy-setting process. It allows for market research, customer feedback, and real-time communication with stakeholders, among other things. Therefore, any contemporary strategy-setting process must include the Internet.

Question 14

The disadvantages a brick-and-mortar company faces by creating an independent division are that it may be very costly,risky,or both.

Accepted Answer

Creating an independent division may require significant investments and resources, which can be costly. Additionally, there may be risks associated with the new division, such as market uncertainty, competition, and potential failure. Therefore, the decision to create an independent division should be carefully considered and evaluated.

Question 15

The two major and successful Internet-based businesses Google and eBay have similar core competencies.

Accepted Answer

Google and eBay have different core competencies. Google's core competency is in search engine technology and online advertising, whereas eBay's core competency is in online auctions and e-commerce.

Question 16

A value proposition is actually a financial statement that summarizes the annual revenue and profit targets.

Accepted Answer

A value proposition is a statement that explains how a product or service solves a customer's problem or meets their needs. It is not a financial statement.

Question 17

Entrepreneurs in start-up companies use business plans to get funding from investors,such as a venture capitalist or a bank.

Accepted Answer

Entrepreneurs use business plans to communicate their ideas, strategies, and financial projections to potential investors in order to secure funding for their start-up companies.

Question 18

Strategies are based on performance indexes that are used as targets and measures of success.

Accepted Answer

Strategies are typically based on specific performance indexes that organizations use to determine if they are successful in achieving their desired outcomes. By setting targets and measuring progress against those targets, organizations can evaluate the effectiveness of their strategies and make adjustments as needed.

Question 19

In the strategy implementation phase,general long-term plans are developed for carrying out the projects that had been agreed on in the strategy formulation phase.

Accepted Answer

In the strategy implementation phase, the focus is on executing the specific strategies and plans that were developed during the strategy formulation phase, rather than developing general long-term plans.

Question 20

A business plan begins with an executive summary that is a a synopsis of the key points of the entire business plan.

Accepted Answer

The executive summary is indeed a synopsis of the key points of the entire business plan, and it should be included at the beginning of the plan.

Quiz 13: E-Commerce Strategy and Global EC