Question 1

In the global economy, competitive rivalry has a significant effect on a firm's business strategies.

Accepted Answer

A) True 
 B)False

Question 2

Product quality is important in most industry settings, and it is a necessary, but insufficient, condition for successful strategy implementation.

Accepted Answer

A) True 
 B)False

Question 3

Describe typical strategic actions of firms in fast-cycle markets.

Accepted Answer

Fast-cycle markets are markets in which

Question 4

What is competitor analysis? What determines the extent to which firms are competitors?

Accepted Answer

A competitor analysis is the first step

Question 5

Firms with few competitive resources are more likely to:

Accepted Answer

A) respond to strategic actions 
B) refuse to respond to competitive actions 
C) respond to all competitive actions 
D) respond to tactical actions 
A) respond to strategic actions 
B) refuse to respond to competitive actions 
C) respond to all competitive actions 
D) respond to tactical actions

Question 6

Markets that are often described as dynamic and innovative are called:

Accepted Answer

A) slow-cycle markets 
B) fast-cycle markets 
C) standard-cycle markets 
D) sheltered markets 
A) slow-cycle markets 
B) fast-cycle markets 
C) standard-cycle markets 
D) sheltered markets

Question 7

A strategy's success is determined not only by a firm's initial competitive actions but also by how well it anticipates competitors' responses to them and by how well the firm anticipates and responds to its competitors' initial actions.

Accepted Answer

A) True 
 B)False

Question 8

In order to preserve resources for the most important competitive battles, firms with fewer resources are less likely to respond to tactical actions than to strategic actions.

Accepted Answer

A) True 
 B)False

Question 9

With which quality dimensions of goods and services are customers commonly concerned?

Accepted Answer

The dimensions for product quality and s

Question 10

First movers can gain a sustained competitive advantage when they reduce their costs through reverse engineering.

Accepted Answer

A) True 
 B)False

Question 11

Firms competing against each other in several product or geographic markets are engaged in multi- market competition.

Accepted Answer

A) True 
 B)False

Question 12

The technology used by fast-cycle competitors is protected by patents and hard to imitate.

Accepted Answer

A) True 
 B)False

Question 13

Firms that are direct competitors will invariably have an intense rivalry.

Accepted Answer

A) True 
 B)False

Question 14

What factors contribute to the likelihood of a response to a competitive action?

Accepted Answer

The probability of a response by a compe

Question 15

A second mover is a(n):

Accepted Answer

A) firm that responds to a first mover's competitive action, often through imitation or a move designed to counter the effects of an action 
B) firm that leads a competitive action in an industry 
C) individual who imitates others in an industry to ensure career progress 
D) individual who moves from a declining industry to a newly expanding industry 
A) firm that responds to a first mover's competitive action, often through imitation or a move designed to counter the effects of an action 
B) firm that leads a competitive action in an industry 
C) individual who imitates others in an industry to ensure career progress 
D) individual who moves from a declining industry to a newly expanding industry

Question 16

Although competitive rivalry affects all types of strategies, its most dominant influence is on a firm's core competencies.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is an example of a strategic action?

Accepted Answer

A) Price cuts by Blockbuster 
B) Use of product coupons by a local grocer 
C) Boeing Corp's decision to commit its resources required to build the super-efficient 787 
D) Price increases by Qantas 
A) Price cuts by Blockbuster 
B) Use of product coupons by a local grocer 
C) Boeing Corp's decision to commit its resources required to build the super-efficient 787 
D) Price increases by Qantas

Question 18

Competitive dynamics in fast-cycle markets often result in:

Accepted Answer

A) changing consumer tastes and rapid product upgrades 
B) fast technology diffusion and quick product innovations 
C) changing consumer tastes and fast technology diffusion 
D) rapid product upgrades and quick product innovations 
A) changing consumer tastes and rapid product upgrades 
B) fast technology diffusion and quick product innovations 
C) changing consumer tastes and fast technology diffusion 
D) rapid product upgrades and quick product innovations

In the global economy, competitive rivalry has a significant effect on a firm's business strategies.

Product quality is important in most industry settings, and it is a necessary, but insufficient, condition for successful strategy implementation.

Describe typical strategic actions of firms in fast-cycle markets.

What is competitor analysis? What determines the extent to which firms are competitors?

Firms with few competitive resources are more likely to:

Markets that are often described as dynamic and innovative are called:

A strategy's success is determined not only by a firm's initial competitive actions but also by how well it anticipates competitors' responses to them and by how well the firm anticipates and responds to its competitors' initial actions.

In order to preserve resources for the most important competitive battles, firms with fewer resources are less likely to respond to tactical actions than to strategic actions.

With which quality dimensions of goods and services are customers commonly concerned?

First movers can gain a sustained competitive advantage when they reduce their costs through reverse engineering.

Firms competing against each other in several product or geographic markets are engaged in multi- market competition.

The technology used by fast-cycle competitors is protected by patents and hard to imitate.

Firms that are direct competitors will invariably have an intense rivalry.

What factors contribute to the likelihood of a response to a competitive action?

A second mover is a(n):

Although competitive rivalry affects all types of strategies, its most dominant influence is on a firm's core competencies.

Which of the following is an example of a strategic action?

Competitive dynamics in fast-cycle markets often result in:

Strategic Management and Strategic Competitiveness

The External Environment: Opportunities, Threats, Industry Competition and Competitor Analysis

The Internal Environment: Resources, Capabilities, Core Competencies and Competitive Advantages

Business-Level Strategy

Corporate-Level Strategy

Acquisition and Restructuring Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organisational Structure and Controls

Strategic Leadership

Strategic Entrepreneurship

Filters

Exam 5: Competitive Rivalry and Competitive Dynamics

In the global economy, competitive rivalry has a significant effect on a firm's business strategies.

Product quality is important in most industry settings, and it is a necessary, but insufficient, condition for successful strategy implementation.

Describe typical strategic actions of firms in fast-cycle markets.

What is competitor analysis? What determines the extent to which firms are competitors?

Firms with few competitive resources are more likely to:

Markets that are often described as dynamic and innovative are called:

A strategy's success is determined not only by a firm's initial competitive actions but also by how well it anticipates competitors' responses to them and by how well the firm anticipates and responds to its competitors' initial actions.

In order to preserve resources for the most important competitive battles, firms with fewer resources are less likely to respond to tactical actions than to strategic actions.

With which quality dimensions of goods and services are customers commonly concerned?

First movers can gain a sustained competitive advantage when they reduce their costs through reverse engineering.

Firms competing against each other in several product or geographic markets are engaged in multi- market competition.

The technology used by fast-cycle competitors is protected by patents and hard to imitate.

Firms that are direct competitors will invariably have an intense rivalry.

What factors contribute to the likelihood of a response to a competitive action?

A second mover is a(n):

Although competitive rivalry affects all types of strategies, its most dominant influence is on a firm's core competencies.

Which of the following is an example of a strategic action?

Competitive dynamics in fast-cycle markets often result in:

Strategic Management and Strategic Competitiveness

The External Environment: Opportunities, Threats, Industry Competition and Competitor Analysis

The Internal Environment: Resources, Capabilities, Core Competencies and Competitive Advantages

Business-Level Strategy

Corporate-Level Strategy

Acquisition and Restructuring Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organisational Structure and Controls

Strategic Leadership

Strategic Entrepreneurship

Filters