HEA 478 - Strategic Management in Healthcare » Fall 2021 » Chapter 3 Quiz

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Question #1
What is not one of the components of the business model discussed in the text?
A.   Outputs
B.   Processes
C.   Inputs
D.   Revenue generation
Question #2
The success of a first mover may depend on which two external factors?
A.   Steepness of the learning curve and the isomorphic nature of the market
B.   Market demographics and regulations
C.   Speed of innovation and rate of market demand
D.   Average production cost and marketing expertise
Question #3
Which is not mentioned in the text as a means of differentiating a product or service?
A.   Integration of processes and inputs
B.   Courtesy
C.   Distribution coverage
D.   Symbols
Question #4
Why is it difficult to change just one component of a business model?
A.   Often the change will cause the organization to move into another industry.
B.   Customers will not accept a change of just one component.
C.   The outputs are too difficult to change.
D.   All the components interrelate and are affected by the other components.
Question #5
Which combination of generic strategies would be the most difficult market position in healthcare?
A.   Focused segment and low cost
B.   Broad segment and low cost
C.   Focused segment and differentiated
D.   Broad segment and differentiated
Question #6
First movers in healthcare can create entry barriers and sustainable advantage through
A.   constant innovation and acquisitions
B.   low-cost, efficient distribution centers
C.   market pricing and marketing
D.   technological advantage and reputation among customers
Question #7
Which of the following shifts in strategy has not been known to occur?
A.   Low cost and high differentiation to high cost and high differentiation
B.   Low cost and low differentiation to high cost and low differentiation
C.   Low cost and high differentiation to high cost and low differentiation
D.   High cost and high differentiation to high cost and low differentiation
Question #8
A first-mover advantage may be only short term if which two factors are present?
A.   Slow technological change and slow change in market demand
B.   Slow technological change and rapid change in market demand
C.   Rapid technological change and slow change in market demand
D.   Rapid technological change and rapid change in market demand
Question #9
A broad-segment, low-cost strategy requires all of the following to be successful except
A.   low-cost distribution system
B.   a narrow product line of standardized, no-frill goods
C.   highly centralized decision making
D.   high asset turnover
Question #10
Concierge medicine enables
A.   improved vaccination rates for a population
B.   higher costs for healthcare
C.   greater differentiation of healthcare services
D.   better overall healthcare coverage
Question #11
Which of the following statements does not describe disruptive innovation?
A.   It increases scientific discovery by motivating venture capital.
B.   It is created by the discovery of competency-destroying innovation.
C.   It is enabled by technological and business model innovation.
D.   It enables new organizations to better compete in a marketplace.
Question #12
The US healthcare business model
A.   makes morbidity and mortality lower than they are in most other industrialized nations
B.   coordinates care through a federal government agency
C.   spends most of its resources on primary care treatments
D.   is often seen as fragmented and inefficient

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