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.   Processes
B.   Inputs
C.   Outputs
D.   Revenue generation
Question #2
The success of a first mover may depend on which two external factors?
A.   Speed of innovation and rate of market demand
B.   Market demographics and regulations
C.   Average production cost and marketing expertise
D.   Steepness of the learning curve and the isomorphic nature of the market
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.   Distribution coverage
C.   Courtesy
D.   Symbols
Question #4
Why is it difficult to change just one component of a business model?
A.   The outputs are too difficult to change.
B.   Customers will not accept a change of just one component.
C.   Often the change will cause the organization to move into another industry.
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 differentiated
B.   Broad segment and differentiated
C.   Broad segment and low cost
D.   Focused segment and low cost
Question #6
First movers in healthcare can create entry barriers and sustainable advantage through
A.   low-cost, efficient distribution centers
B.   constant innovation and acquisitions
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 low differentiation to high cost and low differentiation
B.   Low cost and high differentiation to high cost and high 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 rapid change in market demand
B.   Rapid technological change and slow change in market demand
C.   Rapid technological change and rapid change in market demand
D.   Slow 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.   high asset turnover
C.   low-cost distribution system
D.   a narrow product line of standardized, no-frill goods
Question #10
Concierge medicine enables
A.   better overall healthcare coverage
B.   higher costs for healthcare
C.   greater differentiation of healthcare services
D.   improved vaccination rates for a population
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 created by the discovery of competency-destroying innovation.
C.   It is enabled by technological and business model innovation.
D.   It increases scientific discovery by motivating venture capital.
Question #12
The US healthcare business model
A.   is often seen as fragmented and inefficient
B.   makes morbidity and mortality lower than they are in most other industrialized nations
C.   coordinates care through a federal government agency
D.   spends most of its resources on primary care treatments

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