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.   Inputs
B.   Processes
C.   Revenue generation
D.   Outputs
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.   Average production cost and marketing expertise
C.   Market demographics and regulations
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.   Courtesy
B.   Integration of processes and inputs
C.   Symbols
D.   Distribution coverage
Question #4
Why is it difficult to change just one component of a business model?
A.   The outputs are too difficult to change.
B.   Often the change will cause the organization to move into another industry.
C.   All the components interrelate and are affected by the other components.
D.   Customers will not accept a change of just one component.
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 low cost
C.   Broad segment and differentiated
D.   Focused segment and low cost
Question #6
First movers in healthcare can create entry barriers and sustainable advantage through
A.   constant innovation and acquisitions
B.   technological advantage and reputation among customers
C.   low-cost, efficient distribution centers
D.   market pricing and marketing
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 low differentiation
C.   High 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.   Rapid technological change and rapid 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.   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.   a narrow product line of standardized, no-frill goods
B.   high asset turnover
C.   highly centralized decision making
D.   low-cost distribution system
Question #10
Concierge medicine enables
A.   greater differentiation of healthcare services
B.   higher costs for healthcare
C.   improved vaccination rates for a population
D.   better overall healthcare coverage
Question #11
Which of the following statements does not describe disruptive innovation?
A.   It is enabled by technological and business model innovation.
B.   It is created by the discovery of competency-destroying innovation.
C.   It increases scientific discovery by motivating venture capital.
D.   It enables new organizations to better compete in a marketplace.
Question #12
The US healthcare business model
A.   spends most of its resources on primary care treatments
B.   makes morbidity and mortality lower than they are in most other industrialized nations
C.   is often seen as fragmented and inefficient
D.   coordinates care through a federal government agency

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