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1) 3M has developed many different types of products. The company has been able to change over the years because its ability to innovate and develop new products has provided it with access to a wide range of markets. This innovation ability could be described as 3M's: A. Core competency. B. Parenting advantage. C, Economy of scope, D, Economy of scale, 2]The primary buyers for the toy manufacturing industry are retail department stores (especially Wal Mart and Target, the two companies that together buy most of the toys). where demand is slowing down. Selling mainly to WalMart and Target means the bargaining power of buyers is: a, Low due to low leverage and low price sensitivity. b. High due to highvolume purchases and high price sensitivity. c, Medium due to high leverage but low price sensitivity. d. Medium due to low leverage but high price sensitivity. 3) Strategic management entails: a. Being proactive. b. How organizations reach their customers. c. Analyses, decisions. and actions an organization undertakes in order to create and sustain competitive advantages. d. The management of an organization's financial assets. 5) in the U5, telecommunications industry, significant amounts of capital are needed to build and maintain a network of cell phone towers. Additionally, it can be quite expensive and difficult for customers to switch carriers (e.g., from Verizon to AT&T}. This means there should be 7 a, low bargaining power of suppliers b. low threat of new entry c, high bargaining power of suppliers d. high threat of new entry 6) The widget business of XYZ Corporation is losing money. The industry growth rate is low, and XYZ only has a small market share. You recommend divesting from this business because it is a a. puppy b. dog c, question mark d. cash cow ?) Apple uses its technological knowledge to create sleek products. and has a very recognizable brand name/logo, Apple's abilityto combine these two resources allows it to sell many products, illustrating a. a support activity b. an organizational capability c. a VRIN resource d. an organizational asset 9} Lamborghini is a luxury/sports car manufacturer. Kia is a lowcost car manufacturer. However, these two companies likely do NOT pay much attention to each other's strategic actions because: a, They are in different strategic groups, b. They make substitute products, c. They are headquartered in different countries. d. They are in different industries. lO)|n a valuechain analysis, the upperlevel administration of a company (e.g., CEO, CFO, etc.) is best considered as a ___________ . a. sharing activity b. operations activity c. support activity d. primary activity