Exam 11: Sustaining Competitive Advantage

Which of the following is a Legal Restriction?

Which of the following terms best describes an idea,developed by Gary Hamel and C.K.Prahalad,which combines commitment to the firm's ambitions with the flexibility to change with circumstances?

What type of isolating mechanisms impedes existing firms and potential entrants from duplicating the resources and capabilities that form the basis of the firm's advantage?

What term best describes when quiet periods in markets are punctuated by fundamental "shocks" or "discontinuities" that destroy old sources of advantage and replace them with new ones?

What term refers to the costs incurred by buyers when they change to a different supplier?

What product characteristic refers to the situation where consumers place higher value on a product if other consumers also use it?

Which of the following is not an isolating mechanism that falls under the heading of early-mover advantage?

What term best describes firm-specific assets such as patents and trademarks,brand-name reputation,installed base,and organizational culture?

Which of the following terms best describes the ability of a firm to maintain and adapt the capabilities that are the basis of its competitive advantage?

What term refers to the costs incurred by sellers when they deliver substandard,or defective products?

What term best describes the characteristic of a process if past circumstances could exclude certain evolutions in the future?

Which of the following is not an impediment to imitation?

Which of the following terms describes a nation's position with regard to the elements (e.g.human resources,infrastructure)of production that are necessary to compete in a particular industry?

What term best refers to fundamental changes that lead to major shifts of competitive positions in a market?

Which of the following is least likely a characteristic of profit persistence in an industry?

What type of isolating mechanisms increase the economic power of a competitive advantage over time once a firm has acquired that advantage?

Which of the following best describes regression to the mean??

What term best describes a resource that cannot "sell itself" to the highest bidder?

Which of the following terms best describes a place in which a firm can sell its ideas for full value?

What term describes a framework used in strategy based on resource heterogeneity which posits that for a competitive advantage to be sustainable,it must be underpinned by resource capabilities that are scarce and imperfectly mobile?