Question 1

IKEA's combinational strategy employs which set of generic strategies?

Accepted Answer

A)  Cost leadership, differentiation 
B)  Cost leadership, focus 
C)  Focus, differentiation 
D)  Cost leadership, cannibalization 
A)  Cost leadership, differentiation 
B)  Cost leadership, focus 
C)  Focus, differentiation 
D)  Cost leadership, cannibalization

Question 2

Suppliers are least powerful when they are few in number.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following characteristics is not true of an oligopoly?

Accepted Answer

A)  Long-lasting sustainability of competitive advantage 
B)  Focus is external - on the market 
C)  Avoid competition 
D)  Characterized by unstable marketplace 
E)  Source of competitive advantage is external to the firm 
F) Strategy is to defend/cooperate 
A)  Long-lasting sustainability of competitive advantage 
B)  Focus is external - on the market 
C)  Avoid competition 
D)  Characterized by unstable marketplace 
E)  Source of competitive advantage is external to the firm 
F) Strategy is to defend/cooperate

Question 4

Which of the following is true of rivals?

Accepted Answer

A)  Larger firms take the risk of developing new innovations. 
B)  Smaller firms have the resources to quickly adopt proven ideas. 
C)  Overcapacity and high barriers to exist can increase profit potential. 
D)  The most stable rivalry structure is a few large companies with somewhat overlapping but distinct methods of operating. 
A)  Larger firms take the risk of developing new innovations. 
B)  Smaller firms have the resources to quickly adopt proven ideas. 
C)  Overcapacity and high barriers to exist can increase profit potential. 
D)  The most stable rivalry structure is a few large companies with somewhat overlapping but distinct methods of operating.

Question 5

Which of the following is the best example of a strategic group?

Accepted Answer

A)  Brooks, Puma, Sketchers 
B)  Wholefoods, Central Market, Trader Joe's 
C)  Jared's, a pawn shop, Bailey, Banks & Biddle 
D)  AirTran, American Airlines, Southwest 
A)  Brooks, Puma, Sketchers 
B)  Wholefoods, Central Market, Trader Joe's 
C)  Jared's, a pawn shop, Bailey, Banks & Biddle 
D)  AirTran, American Airlines, Southwest

Question 6

Complementary products or services can enhance the value of the product or service provided by a group of rivals in a competitive setting.

Accepted Answer

A) True 
 B)False

Question 7

In a ______ competitive environment, there are many players but none has a sustainable advantage or profit potential.

Accepted Answer

A)  Monopoly 
B)  Oligopoly 
C)  Hyper 
D)  Pure 
A)  Monopoly 
B)  Oligopoly 
C)  Hyper 
D)  Pure

Question 8

____________ describes a situation in which rivals compete fiercely in some markets while they cooperate in other areas.

Accepted Answer

A)  Competition 
B)  Collaboration 
C)  Coopetition 
D)  Collusion 
A)  Competition 
B)  Collaboration 
C)  Coopetition 
D)  Collusion

Question 9

Rivalry decreases (and profits tend to go down) when industry growth is slow, there are high fixed costs in doing business, and the market lacks differentiated products.

Accepted Answer

A) True 
 B)False

Question 10

A focus strategy concentrates on achieving cost or differentiation advantages with a unique subset of the overall market.

Accepted Answer

A) True 
 B)False

IKEA's combinational strategy employs which set of generic strategies?

Suppliers are least powerful when they are few in number.

Which of the following characteristics is not true of an oligopoly?

Which of the following is true of rivals?

Which of the following is the best example of a strategic group?

Complementary products or services can enhance the value of the product or service provided by a group of rivals in a competitive setting.

In a ______ competitive environment, there are many players but none has a sustainable advantage or profit potential.

____________ describes a situation in which rivals compete fiercely in some markets while they cooperate in other areas.

Rivalry decreases (and profits tend to go down) when industry growth is slow, there are high fixed costs in doing business, and the market lacks differentiated products.

A focus strategy concentrates on achieving cost or differentiation advantages with a unique subset of the overall market.

Defining Strategy

Developing Resources

Serving Customers

Seeking Opportunity

Specifying a Business Model

Considering Corporate Strategy

Thinking Globally

Acting Responsibly

Ensuring Execution

Managing Knowledge

Providing Leadership

Filters

Exam 5: Competing With Rivals

IKEA's combinational strategy employs which set of generic strategies?

Suppliers are least powerful when they are few in number.

Which of the following characteristics is not true of an oligopoly?

Which of the following is true of rivals?

Which of the following is the best example of a strategic group?

Complementary products or services can enhance the value of the product or service provided by a group of rivals in a competitive setting.

In a ______ competitive environment, there are many players but none has a sustainable advantage or profit potential.

____________ describes a situation in which rivals compete fiercely in some markets while they cooperate in other areas.

Rivalry decreases (and profits tend to go down) when industry growth is slow, there are high fixed costs in doing business, and the market lacks differentiated products.

A focus strategy concentrates on achieving cost or differentiation advantages with a unique subset of the overall market.

Defining Strategy

Developing Resources

Serving Customers

Seeking Opportunity

Specifying a Business Model

Considering Corporate Strategy

Thinking Globally

Acting Responsibly

Ensuring Execution

Managing Knowledge

Providing Leadership

Filters