Question 1

As an industry becomes hypercompetitive, firms initially respond by

Accepted Answer

A) raising entry barriers. 
B) moving into untapped markets. 
C) attacking the strongholds of other firms. 
D) competing on cost and quality. 
E) working their way to a situation of perfect competition. 
A) raising entry barriers. 
B) moving into untapped markets. 
C) attacking the strongholds of other firms. 
D) competing on cost and quality. 
E) working their way to a situation of perfect competition. D

Question 2

One success factor to a strategic alliance is the ability to identify likely partnering risks and deal with them when the alliance is formed.

Accepted Answer

A) True 
 B)False  True

Question 3

What are cooperative strategies?

Accepted Answer

Cooperative strategies are used to gain competitive advantage within an industry by working with other firms.The two general types of cooperative strategies are collusion and strategic alliances.Collusion is the active cooperation of firms within an industry to reduce output and raise prices in order to get around the normal economic law of supply and demand.A strategic alliance is a partnership of two or more corporations or business units to achieve strategically significant objectives that are mutually beneficial.

Question 4

Which offensive tactic have the microbreweries used against major brewers?

Accepted Answer

A) flanking maneuver 
B) bypass attack 
C) encirclement 
D) frontal assault 
E) guerilla warfare 
A) flanking maneuver 
B) bypass attack 
C) encirclement 
D) frontal assault 
E) guerilla warfare

Question 5

One risk of a cost leadership strategy is that the technology may change.

Accepted Answer

A) True 
 B)False

Question 6

Collusion is the active cooperation of firms within an industry to reduce output and raise prices in order to get around the normal economic law of supply and demand.

Accepted Answer

A) True 
 B)False

Question 7

According to Porter, the competitive strategy that reflects the ability to provide unique and superior value to the buyer in terms of product quality, special features, or after-sale service is called

Accepted Answer

A) competitive scope. 
B) differentiation. 
C) concentration. 
D) diversification. 
E) lower cost. 
A) competitive scope. 
B) differentiation. 
C) concentration. 
D) diversification. 
E) lower cost.

Question 8

The last stage of a hypercompetitive industry is reached when the remaining large global competitors

Accepted Answer

A) raise entry barriers. 
B) move into untapped markets. 
C) attack the strongholds of other firms. 
D) compete on cost and quality. 
E) work their way to a situation of perfect competition in which no one has any advantage and profits are minimal. 
A) raise entry barriers. 
B) move into untapped markets. 
C) attack the strongholds of other firms. 
D) compete on cost and quality. 
E) work their way to a situation of perfect competition in which no one has any advantage and profits are minimal.

Question 9

The focus strategies will likely predominate when many small and medium sized local companies compete for relatively small shares of the total market in a(n)

Accepted Answer

A) united industry. 
B) fragmented industry. 
C) consolidated industry. 
D) isolated industry. 
E) integrated industry. 
A) united industry. 
B) fragmented industry. 
C) consolidated industry. 
D) isolated industry. 
E) integrated industry.

Question 10

A corporation's specific competitive role which is so well-suited to the firm's internal and external environment that other corporations are NOT likely to challenge or dislodge it.

Accepted Answer

A) propitious niche. 
B) strategic fit 
C) common thread 
D) business screen 
E) implicit strategy 
A) propitious niche. 
B) strategic fit 
C) common thread 
D) business screen 
E) implicit strategy

Question 11

Which of the following is NOT one of the risks of a cost leadership strategy?

Accepted Answer

A) The technology that the organization has been using changes. 
B) Achieving excessive success causing jealousy amongst competitors. 
C) Competitors can achieve viable imitations. 
D) Cost focusers achieve even lower cost in niche market segments. 
E) Proximity in differentiation is lost. 
A) The technology that the organization has been using changes. 
B) Achieving excessive success causing jealousy amongst competitors. 
C) Competitors can achieve viable imitations. 
D) Cost focusers achieve even lower cost in niche market segments. 
E) Proximity in differentiation is lost.

Question 12

As an industry matures while overcoming fragmentation and becomes dominated by a small number of large companies, it tends to become a(n)

Accepted Answer

A) united industry. 
B) fragmented industry. 
C) consolidated industry. 
D) isolated industry. 
E) integrated industry. 
A) united industry. 
B) fragmented industry. 
C) consolidated industry. 
D) isolated industry. 
E) integrated industry.

Question 13

The kind of strategic alliance in which there is a partnership of similar companies in similar industries who pool their resources to gain a benefit that is too expensive to develop alone is the

Accepted Answer

A) joint venture. 
B) licensing agreement. 
C) value-chain partnership. 
D) mutual service consortia. 
E) holding company. 
A) joint venture. 
B) licensing agreement. 
C) value-chain partnership. 
D) mutual service consortia. 
E) holding company.

Question 14

Business strategy is composed of

Accepted Answer

A) corporate and competitive strategy. 
B) functional and divisional strategy. 
C) competitive and cooperative strategy. 
D) corporate and cooperative strategy. 
E) divisional and competitive strategy. 
A) corporate and competitive strategy. 
B) functional and divisional strategy. 
C) competitive and cooperative strategy. 
D) corporate and cooperative strategy. 
E) divisional and competitive strategy.

Question 15

In a TOWS Matrix, WT Strategies

Accepted Answer

A) are generated by thinking of ways in which a company or business unit could use its strengths to take advantage of opportunities. 
B) attempt to take advantage of opportunities by overcoming weaknesses. 
C) are basically defensive and primarily act to minimize weaknesses and avoid threats. 
D) consider a company's or unit's strengths as a way to avoid threats. 
E) are ways to get strategists to think "out of the box." 
A) are generated by thinking of ways in which a company or business unit could use its strengths to take advantage of opportunities. 
B) attempt to take advantage of opportunities by overcoming weaknesses. 
C) are basically defensive and primarily act to minimize weaknesses and avoid threats. 
D) consider a company's or unit's strengths as a way to avoid threats. 
E) are ways to get strategists to think "out of the box."

Question 16

Timing tactics answer the question

Accepted Answer

A) who in the company implements strategy. 
B) where the strategy is implemented. 
C) what strategy is implemented. 
D) when a company implements a strategy. 
E) why a company implements a strategy. 
A) who in the company implements strategy. 
B) where the strategy is implemented. 
C) what strategy is implemented. 
D) when a company implements a strategy. 
E) why a company implements a strategy.

Question 17

If a mission does not provide a common thread for a corporation's businesses, managers might be unclear about where the company is heading.

Accepted Answer

A) True 
 B)False

Question 18

When Yamaha entered the market with a broader range of pianos, keyboards, and other musical instruments, it was using which offensive tactic?

Accepted Answer

A) flanking maneuver 
B) bypass attack 
C) encirclement 
D) frontal assault 
E) guerilla warfare 
A) flanking maneuver 
B) bypass attack 
C) encirclement 
D) frontal assault 
E) guerilla warfare

Question 19

According to the text, unique market opportunities that are available for only a particular time are called

Accepted Answer

A) situational occasions. 
B) critical openings. 
C) strategy implementation. 
D) strategic windows. 
E) trigger points. 
A) situational occasions. 
B) critical openings. 
C) strategy implementation. 
D) strategic windows. 
E) trigger points.

Question 20

An example of a company that was "stuck in the middle" is K-Mart as they tried to imitate both Wal-Mart's low-cost strategy and Target's differentiation strategy.

Accepted Answer

A) True 
 B)False

As an industry becomes hypercompetitive, firms initially respond by

One success factor to a strategic alliance is the ability to identify likely partnering risks and deal with them when the alliance is formed.

What are cooperative strategies?

Which offensive tactic have the microbreweries used against major brewers?

One risk of a cost leadership strategy is that the technology may change.

Collusion is the active cooperation of firms within an industry to reduce output and raise prices in order to get around the normal economic law of supply and demand.

According to Porter, the competitive strategy that reflects the ability to provide unique and superior value to the buyer in terms of product quality, special features, or after-sale service is called

The last stage of a hypercompetitive industry is reached when the remaining large global competitors

The focus strategies will likely predominate when many small and medium sized local companies compete for relatively small shares of the total market in a(n)

A corporation's specific competitive role which is so well-suited to the firm's internal and external environment that other corporations are NOT likely to challenge or dislodge it.

Which of the following is NOT one of the risks of a cost leadership strategy?

As an industry matures while overcoming fragmentation and becomes dominated by a small number of large companies, it tends to become a(n)

The kind of strategic alliance in which there is a partnership of similar companies in similar industries who pool their resources to gain a benefit that is too expensive to develop alone is the

Business strategy is composed of

In a TOWS Matrix, WT Strategies

Timing tactics answer the question

If a mission does not provide a common thread for a corporation's businesses, managers might be unclear about where the company is heading.

When Yamaha entered the market with a broader range of pianos, keyboards, and other musical instruments, it was using which offensive tactic?

According to the text, unique market opportunities that are available for only a particular time are called

An example of a company that was "stuck in the middle" is K-Mart as they tried to imitate both Wal-Mart's low-cost strategy and Target's differentiation strategy.

Basic Concepts in Strategic Management

Corporate Governance

Ethics and Social Responsibility in Strategic Management

Environmental Scanning and Industry Analysis

Internal Scanning and Organizational Analysis

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters

Exam 6: Strategy Formulation: Situation Analysis and Business Strategy

As an industry becomes hypercompetitive, firms initially respond by

One success factor to a strategic alliance is the ability to identify likely partnering risks and deal with them when the alliance is formed.

What are cooperative strategies?

Which offensive tactic have the microbreweries used against major brewers?

One risk of a cost leadership strategy is that the technology may change.

Collusion is the active cooperation of firms within an industry to reduce output and raise prices in order to get around the normal economic law of supply and demand.

According to Porter, the competitive strategy that reflects the ability to provide unique and superior value to the buyer in terms of product quality, special features, or after-sale service is called

The last stage of a hypercompetitive industry is reached when the remaining large global competitors

The focus strategies will likely predominate when many small and medium sized local companies compete for relatively small shares of the total market in a(n)

A corporation's specific competitive role which is so well-suited to the firm's internal and external environment that other corporations are NOT likely to challenge or dislodge it.

Which of the following is NOT one of the risks of a cost leadership strategy?

As an industry matures while overcoming fragmentation and becomes dominated by a small number of large companies, it tends to become a(n)

The kind of strategic alliance in which there is a partnership of similar companies in similar industries who pool their resources to gain a benefit that is too expensive to develop alone is the

Business strategy is composed of

In a TOWS Matrix, WT Strategies

Timing tactics answer the question

If a mission does not provide a common thread for a corporation's businesses, managers might be unclear about where the company is heading.

When Yamaha entered the market with a broader range of pianos, keyboards, and other musical instruments, it was using which offensive tactic?

According to the text, unique market opportunities that are available for only a particular time are called

An example of a company that was "stuck in the middle" is K-Mart as they tried to imitate both Wal-Mart's low-cost strategy and Target's differentiation strategy.

Basic Concepts in Strategic Management

Corporate Governance

Ethics and Social Responsibility in Strategic Management

Environmental Scanning and Industry Analysis

Internal Scanning and Organizational Analysis

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters