Question 1

Building a recognizable brand, gaining customer loyalty, and setting the standards for the industry are all potential benefits of being

Accepted Answer

A)  the first mover in the market. 
B)  a follower in the market. 
C)  a late mover able to overcome barriers to entry. 
D)  a late mover in a market. 
A)  the first mover in the market. 
B)  a follower in the market. 
C)  a late mover able to overcome barriers to entry. 
D)  a late mover in a market.

Question 2

New entrants into markets, whether by start-ups or by incumbent firms, nearly always threatens existing competitors.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is not a tactic that falls within the piecemeal productivity improvements turnaround strategy?

Accepted Answer

A)  speeding up collection of receivables. 
B)  improving business processes by re-engineering them. 
C)  reducing R&D and marketing expenses. 
D)  increasing capacity utilization. 
A)  speeding up collection of receivables. 
B)  improving business processes by re-engineering them. 
C)  reducing R&D and marketing expenses. 
D)  increasing capacity utilization.

Question 4

Which of the following decline stage strategies is used when a firm takes as much profit as possible from the business and makes absolutely minimal investments?

Accepted Answer

A)  Consolidation 
B)  Exiting 
C)  Harvesting 
D)  Maintaining 
A)  Consolidation 
B)  Exiting 
C)  Harvesting 
D)  Maintaining

Question 5

Outline the four stages in the industry lifecycle and discuss why lifecycle concept is relevant to strategic management.

Accepted Answer

The four stages are introduction, growth

Question 6

Briefly explain the forces that lead an organization to follow the creative change trajectory.

Accepted Answer

When core assets are threatened but core

Question 7

Which of the following is not a characteristic of a turnaround strategy?

Accepted Answer

A)  it can occur at any stage in the life cycle. 
B)  it is most likely to occur during the maturity or decline stage. 
C)  it can be used to reverse decline. 
D)  it is not possible at the introduction stage. 
A)  it can occur at any stage in the life cycle. 
B)  it is most likely to occur during the maturity or decline stage. 
C)  it can be used to reverse decline. 
D)  it is not possible at the introduction stage.

Question 8

Companies operating in competitive environments need to have a keen sense of who their closest competitors are and the kinds of competitive actions they might be planning.

Accepted Answer

A) True 
 B)False

Question 9

Explain what is involved in a strategy of 'selective product and market pruning?'

Accepted Answer

Most of the mature or declining firms ha

Question 10

Resource similarity implies that two firms are not close competitors.

Accepted Answer

A) True 
 B)False

Question 11

How do industries change and move through the various stages of their life cycle?

Accepted Answer

In general, the industry life cycle impl

Question 12

Products in the decline stage often consume a large share of management's time and financial resources, relative to their potential worth.

Accepted Answer

A) True 
 B)False

Question 13

There is little advantage in being the "first mover" in a market.

Accepted Answer

A) True 
 B)False

Question 14

Explain the two key factors that are used to assess whether or not companies are close competitors.

Accepted Answer

The two key factors are market commonali

Question 15

During the introductory stage of the life cycle, firms tend to depend on

Accepted Answer

A)  tight management control systems. 
B)  research and development activities 
C)  low cost leadership. 
D)  production efficiency. 
A)  tight management control systems. 
B)  research and development activities 
C)  low cost leadership. 
D)  production efficiency.

Question 16

Most successful turnarounds begin with

Accepted Answer

A)  external analysis. 
B)  internal analysis. 
C)  both internal and external analysis. 
D)  a change in leadership. 
A)  external analysis. 
B)  internal analysis. 
C)  both internal and external analysis. 
D)  a change in leadership.

Question 17

Once attacked, competitors are faced with deciding

Accepted Answer

A)  how to find a good lawyer. 
B)  whether the attack is personal or "just business." 
C)  how they will respond, their reasons to respond and their capability to respond. 
D)  how important the line of business that has been attacked in is to their overall strategy. 
A)  how to find a good lawyer. 
B)  whether the attack is personal or "just business." 
C)  how they will respond, their reasons to respond and their capability to respond. 
D)  how important the line of business that has been attacked in is to their overall strategy.

Question 18

According to the text, the overall objective of defending the market share and extending the product life cycle tends to be typical of the __________ stage in the industry life cycle.

Accepted Answer

A)  growth 
B)  decline 
C)  maturity 
D)  mortality 
A)  growth 
B)  decline 
C)  maturity 
D)  mortality

Question 19

After stagnating and stumbling through the dot-com crash in 2000 and 2001, Intuit developed a turnaround strategy that resulted in substantial profits.

Accepted Answer

A) True 
 B)False

Question 20

All of the following are examples of disruptive technology, except:

Accepted Answer

A)  The personal computer 
B)  Smart phones. 
C)  Fuel-injected engines. 
D)  Just in time inventory systems. 
A)  The personal computer 
B)  Smart phones. 
C)  Fuel-injected engines. 
D)  Just in time inventory systems.

Building a recognizable brand, gaining customer loyalty, and setting the standards for the industry are all potential benefits of being

New entrants into markets, whether by start-ups or by incumbent firms, nearly always threatens existing competitors.

Which of the following is not a tactic that falls within the piecemeal productivity improvements turnaround strategy?

Which of the following decline stage strategies is used when a firm takes as much profit as possible from the business and makes absolutely minimal investments?

Outline the four stages in the industry lifecycle and discuss why lifecycle concept is relevant to strategic management.

Briefly explain the forces that lead an organization to follow the creative change trajectory.

Which of the following is not a characteristic of a turnaround strategy?

Companies operating in competitive environments need to have a keen sense of who their closest competitors are and the kinds of competitive actions they might be planning.

Explain what is involved in a strategy of 'selective product and market pruning?'

Resource similarity implies that two firms are not close competitors.

How do industries change and move through the various stages of their life cycle?

Products in the decline stage often consume a large share of management's time and financial resources, relative to their potential worth.

There is little advantage in being the "first mover" in a market.

Explain the two key factors that are used to assess whether or not companies are close competitors.

During the introductory stage of the life cycle, firms tend to depend on

Most successful turnarounds begin with

Once attacked, competitors are faced with deciding

According to the text, the overall objective of defending the market share and extending the product life cycle tends to be typical of the __________ stage in the industry life cycle.

After stagnating and stumbling through the dot-com crash in 2000 and 2001, Intuit developed a turnaround strategy that resulted in substantial profits.

All of the following are examples of disruptive technology, except:

Strategic Management: Creating Competitive Advantages: an Overview

Analyzing the External Environment of the Firm

Analyzing the Internal Environment of the Firm

Assessing the Intellectual Assets of the Firm

Business-Level Strategy: Creating and Sustaining Competitive Advanta

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Creating Effective Organizational Designs

Strategic Control and Corporate Governance

Strategic Leadership: Creating a Learning, Ethical, and Socially Res

Managing Innovation and Fostering Entrepreneurship

Filters

Exam 8: Industry Change and Competitive Dynamics

Building a recognizable brand, gaining customer loyalty, and setting the standards for the industry are all potential benefits of being

New entrants into markets, whether by start-ups or by incumbent firms, nearly always threatens existing competitors.

Which of the following is not a tactic that falls within the piecemeal productivity improvements turnaround strategy?

Which of the following decline stage strategies is used when a firm takes as much profit as possible from the business and makes absolutely minimal investments?

Outline the four stages in the industry lifecycle and discuss why lifecycle concept is relevant to strategic management.

Briefly explain the forces that lead an organization to follow the creative change trajectory.

Which of the following is not a characteristic of a turnaround strategy?

Companies operating in competitive environments need to have a keen sense of who their closest competitors are and the kinds of competitive actions they might be planning.

Explain what is involved in a strategy of 'selective product and market pruning?'

Resource similarity implies that two firms are not close competitors.

How do industries change and move through the various stages of their life cycle?

Products in the decline stage often consume a large share of management's time and financial resources, relative to their potential worth.

There is little advantage in being the "first mover" in a market.

Explain the two key factors that are used to assess whether or not companies are close competitors.

During the introductory stage of the life cycle, firms tend to depend on

Most successful turnarounds begin with

Once attacked, competitors are faced with deciding

According to the text, the overall objective of defending the market share and extending the product life cycle tends to be typical of the __________ stage in the industry life cycle.

After stagnating and stumbling through the dot-com crash in 2000 and 2001, Intuit developed a turnaround strategy that resulted in substantial profits.

All of the following are examples of disruptive technology, except:

Strategic Management: Creating Competitive Advantages: an Overview

Analyzing the External Environment of the Firm

Analyzing the Internal Environment of the Firm

Assessing the Intellectual Assets of the Firm

Business-Level Strategy: Creating and Sustaining Competitive Advanta

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Creating Effective Organizational Designs

Strategic Control and Corporate Governance

Strategic Leadership: Creating a Learning, Ethical, and Socially Res

Managing Innovation and Fostering Entrepreneurship

Filters