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.   Inputs
C.   Revenue generation
D.   Processes
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.   Steepness of the learning curve and the isomorphic nature of the market
C.   Market demographics and regulations
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.   Symbols
B.   Distribution coverage
C.   Integration of processes and inputs
D.   Courtesy
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.   Focused segment and low cost
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.   technological advantage and reputation among customers
D.   market pricing and marketing
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.   High cost and high differentiation to high cost and low differentiation
C.   Low cost and high differentiation to high cost and low differentiation
D.   Low cost and low 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.   Rapid technological change and slow change in market demand
B.   Slow technological change and rapid 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.   low-cost distribution system
B.   highly centralized decision making
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.   greater differentiation of healthcare services
C.   better overall healthcare coverage
D.   improved vaccination rates for a population
Question #11
Which of the following statements does not describe disruptive innovation?
A.   It is created by the discovery of competency-destroying innovation.
B.   It enables new organizations to better compete in a marketplace.
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.   coordinates care through a federal government agency
C.   spends most of its resources on primary care treatments
D.   makes morbidity and mortality lower than they are in most other industrialized nations

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