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Strategic Management Theory and Cases An Integrated Approach 11th Edition Hill Test Bank 1
Strategic Management Theory and Cases An Integrated Approach 11th Edition Hill Test Bank 1
ANSWER: True
POINTS: I
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
2. The way a prodnet is differentiated from other prodncts of its type and the price of the prodnct determine which
prodnct a cnstomer chooses to satisfy his or her needs.
a. True
b. False
ANSWER: True
POINTS: I
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
3. Companies with a differentiation advantage tend to charge a lower price for their prodncts.
a. True
b. False
ANSWER: False
POINTS: I
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Comprehension
4. In commodity markets, competitive advantage goes to the company that has the lowest costs.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.15.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.15.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
6. Differentiation can help a company to grow overall demand and capture market share from its rivals.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.15.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Comprehension
7. Differentiation leads to high brand loyalty, which in tum significantly increases the threat of new firms entering the
industry.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.15.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
8. Market segmentation refers to the process of subdividing a market into clearly identifiable groups of customers with
similar needs, desires, and demand characteristics.
a. True
b. False
ANSWER: True
POINTS: I
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
9. A generic business-level strategy is a strategy that gives a company a specific form of competitive position and
advantage over its rivals that results in above-average profitability.
a. True
b. False
ANSWER: True
POINTS: I
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.05.03- Explain how a company executes its business-level strategy
through function-level strategies and organizational arrangements
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
ANSWER: False
POINTS: I
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
11. An efficiency frontier shows all of the different positions that a company can adopt with regard to differentiation and
cost.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.IIILL.l5.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
12. Mike's Eatery, a fast food chain, neither customizes its product offerings nor sells new products based on market
segments. Mike's Eatery is pursuing standardization strategy.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: SMIA.HILL.l5.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Application
13. When a company decides to serve a limited number of segments, or just one segment, it is pursuing a segmentation
strategy.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.05.01- Explain the difference between low-cost and differentiation
strategies
NATIONAL STANDARDS: United States- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
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Trowel. Claw. Scrubbing Brush. Palette Knife. Paint Brushes. Roughing Comb. Hammer.
The trowel and palette knife spreading and mixing the paint, the
roughing comb for patterns where the grain of wood is imitated, and the
pots, cans, and jars, for the colours, are the principal tools besides those
already described.
THE PAPER STAINER.
PRINTING PRESS.
The paper is printed in pieces twelve yards long. A piece is laid out on
a long bench and the ground colour applied, consisting of whiting tinted
with some sort of pigment and liquefied with melted size. This is laid on
with large brushes. When the paper is dry it is ready to receive the print
at the printing press, where the blocks are pressed upon it by a sort of
weighted arm which comes down from above the centre of the bench.
There must generally be as many blocks as there are colours in the
pattern.
Colour Sieve. Paint Pot. Colour Drum. Size Can.
The trade of the Calico Printer may be said to be one of the most
important in this country, since we export such immense quantities of
cotton prints to our various colonies, as well as to other countries in the
world, that this business forms a very considerable part of British
commerce.
Calicoes, muslins, &c. intended for printing must first have the fibres
removed from their surface by the operation of the singeing machine;
which consists of a half-cylinder of iron or copper laid horizontally, and
kept at a bright heat by a range of gas-flames or a furnace; over this half-
cylinder the length of cloth is drawn with a steady motion till the down
or fibre is singed off.
Bowking Kiers.
The next process is that of bleaching, because the whiter the cotton
cloth becomes, the more light it will reflect from the surface, and the
more brilliant the colour of the dyes will appear.
The principal chemical substance used for bleaching cotton is chloride
of lime, which is known as bleaching powder; but there are several
processes employed in its application, as well as various methods which
are adopted by different manufacturers to increase its effects by
mechanical contrivances, the application of heat, or otherwise.
Dash Wheel.
By this method, a single block prints only one colour, so that, if the
design contain three or more colours, three or more blocks will be
required, all of equal size, the raised parts in each corresponding with the
depressed parts in all the others; in order, therefore, to print a piece of
cloth twenty-eight yards long, and thirty inches broad, with three blocks,
each measuring nine inches by five, no less than 672 applications of
each, or 2,016 applications of the three blocks, are necessary. Thus it will
be seen that printing by hand is a tedious operation, requiring more
diligence than skill.
Brush.
One of the Cylinders of the Machine, showing the way by which it is coloured.
WORKSHOP.
The tinning of the inner surfaces of cooking utensils and other vessels
of capacity is effected by scouring the surface until it is perfectly bright
and clean; then heating the vessel, pouring in some melted tin and rolling
it about, and rubbing the tin all over the surface with a piece of cloth or a
handful of tow; powdered rosin is used to prevent the formation of oxide.
Bridle bits, stirrups, and many other small articles, are tinned by
immersing them in fluid tin. Tin-plate working, or the forming sheets of
tinned iron into a variety of useful vessels and utensils, is carried on by
means of bench and hand shears, mallets, and hammers, steel heads and
wooden blocks, soldering irons and swages. In the formation of a vessel,
the first operation is to cut the plate to the proper size and form with
shears, and, when the dimensions of the article require it, to join them
together, which is done either by simply laying the edge of one plate
over that of the other, and then soldering them together, or by folding the
edges together with laps and then soldering them. Similar joints are
required when gores or other pieces are to be inserted, and also at the
junction by which a cylinder is closed in. The usual method of forming
laps, bends, or folds, for this or other purposes, is to lay the plate over
the edge of the bench and to bend it by repeated strokes with a hammer;
but a machine is sometimes used for this purpose.
Many small vessels, spoons, and other articles, are cast in an alloy
somewhat harder than that which is rolled into sheets. Most of the tools
employed by the Tinman are the irons, stakes, and bickers, on which the
tin is hammered into proper shape, with shears for cutting, the punches
for piercing holes, and the soldering iron and charcoal stove for making
joints.
THE FARRIER.
FARRIER’S SHED.
The Farrier generally makes his own nails since they are of a peculiar
shape, and the heads should completely fill the nail holes, that they may
not allow the shoe to shift on the horse’s hoof. They are made from long
rods of iron called nail rods, and when finished are spread about the
smithy to cool, because when they are allowed to cool gradually they
become harder, and less liable to break.
If the nails are of a proper shape, the holes straight through the shoe,
and the shoe fits the foot, very little skill is required to nail it on, and
clench the ends of the nails to the hoof. Before the shoe is nailed on,
however, it is usual, when the horse has tender feet, to cover the sole of
the foot with leather, gutta-percha, or felt made waterproof, “felt” being
made of woollen cloth torn to shreds which are then pressed together and
formed into sheets. In any case the Farrier is expected to “stop the foot,”
that is, to fill the hollow and tender portion of the foot within the shoe,
with tow or oakum dipped in tar.
Fleam. Stamp. Scissors. Ladle and Spatula. Brush. Poker. Reaching Iron.
The shoe is now nailed on, and a good Farrier will often be able to
secure it with only five nails.
The hind shoes are of course different in shape to those which are
placed on the fore feet, and it is generally necessary to use seven nails to
fix them on to the hoofs, since the hind foot expands less than the fore,
and there is more drag upon it when the horse is in motion, so that the
shoe is more easily shifted.
The time at which a horse’s shoes want removing depends on several
causes. If a horse wear out his shoes in less than a month they had better
not be removed, but whether the shoes are worn or not the horse’s hoofs
should be looked to by the Farrier, every three or four weeks, as the
hoofs sometimes outgrow the shoes, and the shoes require refitting.
From what has been said about the Farrier’s business it will be seen
that it is a most important one, but besides the knowledge and experience
required for the more mechanical part of his work, he should also know
something of the diseases and ailments of horses, and be able to apply
the proper remedies.
It is true that this part of the business belongs properly to the
veterinary surgeon, but the Farrier should at all events understand what is
proper to be done in any ordinary disorder or in cases of emergency. He
will of course know how to use the fleam when the animals require
bleeding, as they frequently do. This instrument is a sort of knife, the
sharp part of which is the small spade-shaped pieces at the ends of the
blades. The ladle for melting the ingredients of ointment, for sprains or
swellings, and the spatula for mixing it, or for spreading and mixing the
drugs for boluses or the large pills frequently given to horses, are some
of the instruments used in this part of the Farrier’s business.
THE NEEDLE MAKER.