1. Zara is an example of a company whose operations strategy involves

a. Offering innovative products at very low prices compared to its competition

b. Introducing innovative products very quickly into the market

c. Offering innovative products in limited quantities

(b) And (c) above

2. It can be deduced that Wal-Mart's operations strategy:

a. Emphasizes growth at the expense of profits

b. Emphasizes profits while offering premium quality to customers

c. Emphasizes profits while passing on savings to consumers

Both (a) and (c) above

3. Porter's five forces is a model that helps in strategy development because it:

Helps defines core competence for the firm.

Defines operational goals for the firm

Guides entry/exit decisions into a market for the firm

Defines competitiveness for the firm.