Exam 6: Strategy Formulation: Business Strategy

A licensing arrangement is an agreement in which the licensing firm grants rights to another firm in another country or market to produce and/or sell a product.

In a SFAS Matrix,

The only way to gain competitive advantage within an industry is to use a competitive strategy.

Which of Porter's competitive strategies is likely to predominate in a fragmented industry?

A secret salary cap was the contention in a 2012 collusion lawsuit filed against

The active cooperation of firms within an industry to reduce output and raise prices to get around the normal law of supply and demand is referred to as

Most entrepreneurial ventures attempt to follow focus strategies.

According to Porter,the generic 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

Alliances do not take less financial resources than do acquisitions or going it alone and are not easier to exit if necessary.

Which of Porter's broad mass market competitive strategies requires tight cost control,frequent detailed control reports,and cost minimization in areas like R&D,service and advertising?

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)

The goal of strategy is to find an extremely favorable niche so well suited to the firm's internal and external environment that other corporations are not likely to challenge or dislodge it.

Differentiation is a viable strategy for earning above-average returns in a specific business because the resulting increased value to the customer