Exam 11: Industry Evolution and Strategic Change

With maturity, price competition is:

The starting point for managing change is:

In the Conformity theory favored by institutional sociologists, a barrier to change is:

The industry life cycle is:

Scenarios are plausible alternative futures. Their value lies not so much in the choice of plausible futures, but the flexibility gained by the process of considering what to do about them.

A shift from radical to incremental product innovation often takes place when an industry coalesces around a common product design

Different theories of organizational routines, institutional theory, or limited search, try to explain:

The evolution of industry structure and competition over the life cycle:

One difference between the Product Life Cycle and the Industry Life Cycle is that some industries do not have a "decline" phase

The fact that some firms such as BASF, Exxon, and General Electric have been leaders in their industries for almost a century, indicates that:

The greatest challenge for a firm, related to change is:

The emergence of a dominant product design tends to coincide with a shift towards process innovation

For many firms, the most profitable time to be involved in an industry is the growth phase.

With maturity, the level of concentration of most industries:

Key success factors through the industry life cycle indicate that nearly all firms in the industry start up in the introductory phase of the industry.

To what extent is an industry life cycle pattern applicable to industries in general?

With maturity in an industry, which challenge becomes critical for a firm?

A firm can simultaneously pursue dual strategies:

In the automotive industry, a lot of innovations emerged between 1890 and 1912. Thereafter, a dominant design emerged. How can we tell?

Over time, industry life cycles are tending to become shorter.