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

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