Question 1

Identify and briefly explain any three factors that lead to strong bargaining power on the part of suppliers.

Accepted Answer

Answer will vary

Question 2

In mapping strategic groups

Accepted Answer

A)  one strategic variable and one financial variable should be used as axes for the map. 
B)  it is important for the variables used as axes to be highly correlated. 
C)  the best variables to use as axes for the map are those that differentiate how rivals have positioned themselves in the marketplace. 
D)  it is important to use price as the variable for the vertical axis. 
E)  the primary objective is to determine which strategic groups are profitable and which are not. 
A)  one strategic variable and one financial variable should be used as axes for the map. 
B)  it is important for the variables used as axes to be highly correlated. 
C)  the best variables to use as axes for the map are those that differentiate how rivals have positioned themselves in the marketplace. 
D)  it is important to use price as the variable for the vertical axis. 
E)  the primary objective is to determine which strategic groups are profitable and which are not. C

Question 3

Competitive pressures stemming from buyer bargaining power tend to be weaker when

Accepted Answer

A)  the number of buyers is small, such that each customer's business tends to be particularly important to a seller. 
B)  buyer demand is growing slowly or maybe even declining. 
C)  the costs incurred by buyers in switching to competing brands or to substitute products are relatively high. 
D)  buyers purchase the item frequently and are well-informed about sellers' products, prices, and costs. 
E)  the buyer group consists a few large buyers and the seller group consists of numerous small firms. 
A)  the number of buyers is small, such that each customer's business tends to be particularly important to a seller. 
B)  buyer demand is growing slowly or maybe even declining. 
C)  the costs incurred by buyers in switching to competing brands or to substitute products are relatively high. 
D)  buyers purchase the item frequently and are well-informed about sellers' products, prices, and costs. 
E)  the buyer group consists a few large buyers and the seller group consists of numerous small firms. C

Question 4

The payoff of good scouting reports on rivals is improved ability to

Accepted Answer

A)  anticipate what moves rivals are likely to make next, thereby providing a valuable assist in outmaneuvering them in the marketplace. 
B)  determine which rivals are in the best strategic group. 
C)  figure out how many key success factors a rival has. 
D)  determine whether a rival is gaining or losing market share. 
E)  determine whether a rival has the best strategy and is the industry leader. 
A)  anticipate what moves rivals are likely to make next, thereby providing a valuable assist in outmaneuvering them in the marketplace. 
B)  determine which rivals are in the best strategic group. 
C)  figure out how many key success factors a rival has. 
D)  determine whether a rival is gaining or losing market share. 
E)  determine whether a rival has the best strategy and is the industry leader.

Question 5

The strength of competitive pressures that suppliers can exert on industry members is mainly a function of

Accepted Answer

A)  whether needed inputs are in short supply or whether ample supplies are readily available from several different suppliers. 
B)  whether suppliers self-manufacture what they supply or source their items from other manufacturers. 
C)  the industry's position in the growth cycle. 
D)  whether technological change in the businesses of suppliers is rapid or slow. 
E)  whether the needs and expectations of buyers of the industry product are changing slowly or rapidly. 
A)  whether needed inputs are in short supply or whether ample supplies are readily available from several different suppliers. 
B)  whether suppliers self-manufacture what they supply or source their items from other manufacturers. 
C)  the industry's position in the growth cycle. 
D)  whether technological change in the businesses of suppliers is rapid or slow. 
E)  whether the needs and expectations of buyers of the industry product are changing slowly or rapidly.

Question 6

The competitive force of rival firms' jockeying for better market positions,higher sales and market shares,and competitive advantage

Accepted Answer

A)  is stronger when firms strive to be low-cost producers than when they use differentiation and focus strategies. 
B)  is typically a weaker competitive force than is the threat of entry of new rivals. 
C)  is largely unaffected by whether industry conditions tempt rivals to use price cuts or other competitive weapons to boost unit sales. 
D)  tends to intensify when strong companies outside the industry acquire weak firms in the industry and launch aggressive, well-funded moves to transform the acquired companies into strong market contenders. 
E)  is weaker when more firms have weakly differentiated products, buyer demand is growing slowly, and buyers have moderate switching costs. 
A)  is stronger when firms strive to be low-cost producers than when they use differentiation and focus strategies. 
B)  is typically a weaker competitive force than is the threat of entry of new rivals. 
C)  is largely unaffected by whether industry conditions tempt rivals to use price cuts or other competitive weapons to boost unit sales. 
D)  tends to intensify when strong companies outside the industry acquire weak firms in the industry and launch aggressive, well-funded moves to transform the acquired companies into strong market contenders. 
E)  is weaker when more firms have weakly differentiated products, buyer demand is growing slowly, and buyers have moderate switching costs.

Question 7

Which of the following factors does not affect whether buyer bargaining power and seller-buyer collaboration are an important source of competitive pressure in an industry?

Accepted Answer

A)  Whether winning the business of certain customers, offer a seller important market exposure or prestige 
B)  The extent and importance of collaborative partnerships and alliances between particular sellers and buyers 
C)  Whether buyers pose a major threat to integrate backward into the product market of sellers 
D)  Whether sellers' products are weakly differentiated, making it easy and inexpensive for buyers to switch to competing brands 
E)  Whether buyers have a strong preference for products of superior quality or just average quality 
A)  Whether winning the business of certain customers, offer a seller important market exposure or prestige 
B)  The extent and importance of collaborative partnerships and alliances between particular sellers and buyers 
C)  Whether buyers pose a major threat to integrate backward into the product market of sellers 
D)  Whether sellers' products are weakly differentiated, making it easy and inexpensive for buyers to switch to competing brands 
E)  Whether buyers have a strong preference for products of superior quality or just average quality

Question 8

Identify four factors that affect whether an industry does or does not present a company with a good business opportunity?

Accepted Answer

The answer of Identify four factors that affect whether an...

Question 9

Increasing globalization of the industry can be a driving force because

Accepted Answer

A)  the products of foreign competitors are nearly always cheaper or of better quality than those of domestic companies. 
B)  foreign producers typically have lower costs, greater technological expertise, and more product innovation capabilities than domestic firms. 
C)  it tends to increase rivalry among industry members and often shifts the pattern of competition among an industry's major players, favoring some and disadvantaging others. 
D)  it results in companies having fewer competitors and a strategic group map with fewer circles. 
E)  market growth rates go up, product innovation speeds up, and new firms are likely to enter the industry. 
A)  the products of foreign competitors are nearly always cheaper or of better quality than those of domestic companies. 
B)  foreign producers typically have lower costs, greater technological expertise, and more product innovation capabilities than domestic firms. 
C)  it tends to increase rivalry among industry members and often shifts the pattern of competition among an industry's major players, favoring some and disadvantaging others. 
D)  it results in companies having fewer competitors and a strategic group map with fewer circles. 
E)  market growth rates go up, product innovation speeds up, and new firms are likely to enter the industry.

Question 10

Which of the following can aid industries in identifying key success factors?

Accepted Answer

A)  Global distribution capabilities 
B)  Crucial product attributes and service characteristics 
C)  Low distribution costs 
D)  Accurate filling of buyer orders 
E)  Short delivery time capability 
A)  Global distribution capabilities 
B)  Crucial product attributes and service characteristics 
C)  Low distribution costs 
D)  Accurate filling of buyer orders 
E)  Short delivery time capability

Question 11

Industry rivals tend to experience weak competitive pressures from substitute products when

Accepted Answer

A)  the available substitute products are weakly differentiated from one another. 
B)  the buyers of the industry's products are few in number and they have substantial amounts of leverage with sellers. 
C)  rival sellers experience strong bargaining power from both suppliers and influential customers. 
D)  buyers incur high costs in switching to substitutes and substitutes are higher priced relative to the performance they deliver. 
E)  the producers of substitute products are all pursuing strategies to strongly differentiate their products on the basis of quality and product performance. 
A)  the available substitute products are weakly differentiated from one another. 
B)  the buyers of the industry's products are few in number and they have substantial amounts of leverage with sellers. 
C)  rival sellers experience strong bargaining power from both suppliers and influential customers. 
D)  buyers incur high costs in switching to substitutes and substitutes are higher priced relative to the performance they deliver. 
E)  the producers of substitute products are all pursuing strategies to strongly differentiate their products on the basis of quality and product performance.

Question 12

Identify and briefly explain any three factors that weaken the competitive pressures stemming from the threat that new firms will enter the industry.

Accepted Answer

The answer of Identify and briefly explain any three factors...

Question 13

When one or more industry members have unusually effective and mutually advantageous partnerships with their suppliers,

Accepted Answer

A)  it is rare for such partnerships to have much competitive impact on those industry members not having such partnerships. 
B)  one unfortunate outcome is that it tends to give the supply partners much enhanced bargaining power in their dealings with these industry members. 
C)  there is a strong likelihood such partnerships will put increased competitive pressure on those industry members who lack productive collaborative relationships with their suppliers. 
D)  there is a high likelihood of such partnerships reducing competitive pressures on all industry members, provided technological change in the suppliers' business is rapid and the item being supplied is a commodity. 
E)  the usual result is to reduce competitive pressures on all industry members, provided the costs of the items furnished by supply chain partners amount to 50% or more of total cost. 
A)  it is rare for such partnerships to have much competitive impact on those industry members not having such partnerships. 
B)  one unfortunate outcome is that it tends to give the supply partners much enhanced bargaining power in their dealings with these industry members. 
C)  there is a strong likelihood such partnerships will put increased competitive pressure on those industry members who lack productive collaborative relationships with their suppliers. 
D)  there is a high likelihood of such partnerships reducing competitive pressures on all industry members, provided technological change in the suppliers' business is rapid and the item being supplied is a commodity. 
E)  the usual result is to reduce competitive pressures on all industry members, provided the costs of the items furnished by supply chain partners amount to 50% or more of total cost.

Question 14

The nature and strength of the competitive forces that prevail in an industry is generally a joint product of

Accepted Answer

A)  the pressures induced by the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry. 
B)  the threat that firms outside the industry will decide to enter the market. 
C)  the attempts of companies in other industries to win buyers over to their own substitute products. 
D)  competitive pressures stemming from the bargaining power of both suppliers and buyers. 
E)  All of these. 
A)  the pressures induced by the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry. 
B)  the threat that firms outside the industry will decide to enter the market. 
C)  the attempts of companies in other industries to win buyers over to their own substitute products. 
D)  competitive pressures stemming from the bargaining power of both suppliers and buyers. 
E)  All of these.

Question 15

Collaborative relationships between particular sellers and buyers in an industry can represent a source of strong competitive pressure when

Accepted Answer

A)  virtually all buyers have strong brand attachments and are highly brand loyal. 
B)  demand for the product is growing rapidly. 
C)  sales are made to buyer groups with either strong bargaining power or high sensitivity. 
D)  sellers are racing to add the latest and greatest performance features so as to attract the patronage of important or prestigious buyers. 
E)  buyers are very quality conscious. 
A)  virtually all buyers have strong brand attachments and are highly brand loyal. 
B)  demand for the product is growing rapidly. 
C)  sales are made to buyer groups with either strong bargaining power or high sensitivity. 
D)  sellers are racing to add the latest and greatest performance features so as to attract the patronage of important or prestigious buyers. 
E)  buyers are very quality conscious.

Question 16

In analyzing driving forces,the strategist's role is to

Accepted Answer

A)  identify the driving forces and evaluate their impact on (1) demand for the industry's product, (2) the intensity of competition, and (3) industry profitability. 
B)  predict future marketing innovations and how fast the industry is likely to globalize. 
C)  evaluate what stage of the life cycle the industry is in and when it is likely to move to the next stage. 
D)  determine who is likely to exit the industry and what changes can be expected in the industry's strategic group map. 
E)  forecast fluctuations in product demand and how buyer needs will most likely change. 
A)  identify the driving forces and evaluate their impact on (1) demand for the industry's product, (2) the intensity of competition, and (3) industry profitability. 
B)  predict future marketing innovations and how fast the industry is likely to globalize. 
C)  evaluate what stage of the life cycle the industry is in and when it is likely to move to the next stage. 
D)  determine who is likely to exit the industry and what changes can be expected in the industry's strategic group map. 
E)  forecast fluctuations in product demand and how buyer needs will most likely change.

Question 17

Supplier bargaining power is weaker when

Accepted Answer

A)  good substitute inputs exist or new ones emerge. 
B)  the cost of switching from one supplier to another is high. 
C)  suppliers furnish a critical part or component. 
D)  buying firms are looking for suppliers with good just-in-time supply capabilities. 
E)  a few large suppliers are the primary sources of a particular item. 
A)  good substitute inputs exist or new ones emerge. 
B)  the cost of switching from one supplier to another is high. 
C)  suppliers furnish a critical part or component. 
D)  buying firms are looking for suppliers with good just-in-time supply capabilities. 
E)  a few large suppliers are the primary sources of a particular item.

Question 18

Identify and briefly explain any three of the factors that influence the bargaining strength and leverage of suppliers.

Accepted Answer

The answer of Identify and briefly explain any three of...

Question 19

Identify and briefly explain any three factors that lead to strong bargaining power on the part of buyers.

Accepted Answer

The answer of Identify and briefly explain any three factors...

Question 20

The real payoff for strategy making comes when managers draw conclusions about

Accepted Answer

A)  what strategy adjustments are needed to deal with the changes in conditions. 
B)  determining the overall strength of the five competitive forces. 
C)  determining whether the industry's strategic group map will be static or dynamic. 
D)  conditions in the economy at large. 
E)  the extent to which rivals have more than two competitively valuable competencies or capabilities 
A)  what strategy adjustments are needed to deal with the changes in conditions. 
B)  determining the overall strength of the five competitive forces. 
C)  determining whether the industry's strategic group map will be static or dynamic. 
D)  conditions in the economy at large. 
E)  the extent to which rivals have more than two competitively valuable competencies or capabilities

Identify and briefly explain any three factors that lead to strong bargaining power on the part of suppliers.

In mapping strategic groups

Competitive pressures stemming from buyer bargaining power tend to be weaker when

The payoff of good scouting reports on rivals is improved ability to

The strength of competitive pressures that suppliers can exert on industry members is mainly a function of

The competitive force of rival firms' jockeying for better market positions,higher sales and market shares,and competitive advantage

Which of the following factors does not affect whether buyer bargaining power and seller-buyer collaboration are an important source of competitive pressure in an industry?

Identify four factors that affect whether an industry does or does not present a company with a good business opportunity?

Increasing globalization of the industry can be a driving force because

Which of the following can aid industries in identifying key success factors?

Industry rivals tend to experience weak competitive pressures from substitute products when

Identify and briefly explain any three factors that weaken the competitive pressures stemming from the threat that new firms will enter the industry.

When one or more industry members have unusually effective and mutually advantageous partnerships with their suppliers,

The nature and strength of the competitive forces that prevail in an industry is generally a joint product of

Collaborative relationships between particular sellers and buyers in an industry can represent a source of strong competitive pressure when

In analyzing driving forces,the strategist's role is to

Supplier bargaining power is weaker when

Identify and briefly explain any three of the factors that influence the bargaining strength and leverage of suppliers.

Identify and briefly explain any three factors that lead to strong bargaining power on the part of buyers.

The real payoff for strategy making comes when managers draw conclusions about

What Is Strategy and Why Is It Important

Charting a Companys Direction: Vision and Mission, Objectives, and Strategy

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies: Which One to Employ

Strengthening a Companys Competitive Position: Strategic Moves, timing, and Scope of Operation

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution: People, Capabilities, and Structure

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters

Exam 3: Evaluating a Companys External Environment

Identify and briefly explain any three factors that lead to strong bargaining power on the part of suppliers.

In mapping strategic groups

Competitive pressures stemming from buyer bargaining power tend to be weaker when

The payoff of good scouting reports on rivals is improved ability to

The strength of competitive pressures that suppliers can exert on industry members is mainly a function of

The competitive force of rival firms' jockeying for better market positions,higher sales and market shares,and competitive advantage

Which of the following factors does not affect whether buyer bargaining power and seller-buyer collaboration are an important source of competitive pressure in an industry?

Identify four factors that affect whether an industry does or does not present a company with a good business opportunity?

Increasing globalization of the industry can be a driving force because

Which of the following can aid industries in identifying key success factors?

Industry rivals tend to experience weak competitive pressures from substitute products when

Identify and briefly explain any three factors that weaken the competitive pressures stemming from the threat that new firms will enter the industry.

When one or more industry members have unusually effective and mutually advantageous partnerships with their suppliers,

The nature and strength of the competitive forces that prevail in an industry is generally a joint product of

Collaborative relationships between particular sellers and buyers in an industry can represent a source of strong competitive pressure when

In analyzing driving forces,the strategist's role is to

Supplier bargaining power is weaker when

Identify and briefly explain any three of the factors that influence the bargaining strength and leverage of suppliers.

Identify and briefly explain any three factors that lead to strong bargaining power on the part of buyers.

The real payoff for strategy making comes when managers draw conclusions about

What Is Strategy and Why Is It Important

Charting a Companys Direction: Vision and Mission, Objectives, and Strategy

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies: Which One to Employ

Strengthening a Companys Competitive Position: Strategic Moves, timing, and Scope of Operation

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution: People, Capabilities, and Structure

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters