Question 1

The industry life cycle can predict how quickly the drivers of industry demand will evolve.

Accepted Answer

A) True 
 B)False

Question 2

The ________ strategy assumes considerable risk.

Accepted Answer

A)  neutralization 
B)  absorption 
C)  annulment 
D)  shaping 
A)  neutralization 
B)  absorption 
C)  annulment 
D)  shaping

Question 3

Competitive advantage is facilitated by possessing resources and capabilities that fulfill the VRINE criteria.

Accepted Answer

A) True 
 B)False

Question 4

A challenger can gain a competitive market position to the extent that they can catch the leader unaware.

Accepted Answer

A) True 
 B)False

Question 5

Increasingly, competitive advantage results from the ability to manage change and harness the resources and capabilities consistent with ________ strategies.

Accepted Answer

A)  dynamic 
B)  first- or second-mover 
C)  late-mover 
D)  revolutionary 
A)  dynamic 
B)  first- or second-mover 
C)  late-mover 
D)  revolutionary

Question 6

Large firms can use ________ to pursue shaping strategies.

Accepted Answer

A)  containment 
B)  funding 
C)  slotting fees 
D)  product improvement 
A)  containment 
B)  funding 
C)  slotting fees 
D)  product improvement

Question 7

Fast-follower advantages increase under all of the following conditions except ________.

Accepted Answer

A)  the first mover lacks a key complement such as channel access 
B)  rapid technological advances 
C)  the first mover's product or service strikes a positive chord but is flawed 
D)  the first mover's profit is high 
A)  the first mover lacks a key complement such as channel access 
B)  rapid technological advances 
C)  the first mover's product or service strikes a positive chord but is flawed 
D)  the first mover's profit is high

Question 8

Discuss the challenges to sustainable competitive advantage.

Accepted Answer

It's important to understand why dynamic

Question 9

Strategic-positioning decisions should be supported by only a select few tactical decisions made to implement and reinforce the firm's strategy.

Accepted Answer

A) True 
 B)False

Question 10

Industry convergence occurs when two distinct industries evolve toward a(n) ________.

Accepted Answer

A)  exclusive business relationship with each other 
B)  single point where old industry boundaries no longer exist 
C)  competitive position where each benefits from the existence of the other 
D)  split that forms four industries 
A)  exclusive business relationship with each other 
B)  single point where old industry boundaries no longer exist 
C)  competitive position where each benefits from the existence of the other 
D)  split that forms four industries

Question 11

Incumbents adopting the annulment strategy improve their own products.

Accepted Answer

A) True 
 B)False

Question 12

Detecting and responding quickly to unexpected customer demands is called ________.

Accepted Answer

A)  anticipating change 
B)  speed of change 
C)  reacting to change 
D)  market segment change 
A)  anticipating change 
B)  speed of change 
C)  reacting to change 
D)  market segment change

Question 13

As industry products become perceived as undifferentiated, the ability of firms to generate premium pricing ________.

Accepted Answer

A)  increases 
B)  stabilizes 
C)  decreases 
D)  becomes more critical 
A)  increases 
B)  stabilizes 
C)  decreases 
D)  becomes more critical

Question 14

As part of the absorption strategy, an incumbent may try to leverage a buyout by taking control of industry distribution channels.

Accepted Answer

A) True 
 B)False

Question 15

A firm contemplating a second-mover strategy should consider the inimitability of its new product.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is not a characteristic mindset of new-market creation?

Accepted Answer

A)  emphasizes substitutes across industries 
B)  emphasizes redefinition of buyers' preferences 
C)  looks across strategic groups and industry segments 
D)  emphasizes efficient operation of the traditional business model 
A)  emphasizes substitutes across industries 
B)  emphasizes redefinition of buyers' preferences 
C)  looks across strategic groups and industry segments 
D)  emphasizes efficient operation of the traditional business model

Question 17

Any firm that invests in resources and capabilities that support innovation and not retaliation may be only prolonging its inevitable demise.

Accepted Answer

A) True 
 B)False

Question 18

There is a close connection between tactical moves and strategy evolution.

Accepted Answer

A) True 
 B)False

Question 19

Competitive advantage is developed when a firm can create value in similar ways to their rivals.

Accepted Answer

A) True 
 B)False

Question 20

In phase 1, competitive action can be initiated in all of the following ways except ________.

Accepted Answer

A)  competitive aggressiveness 
B)  predictability 
C)  delay tactics 
D)  complexity of the competitive-action repertoire 
A)  competitive aggressiveness 
B)  predictability 
C)  delay tactics 
D)  complexity of the competitive-action repertoire

The industry life cycle can predict how quickly the drivers of industry demand will evolve.

The ________ strategy assumes considerable risk.

Competitive advantage is facilitated by possessing resources and capabilities that fulfill the VRINE criteria.

A challenger can gain a competitive market position to the extent that they can catch the leader unaware.

Increasingly, competitive advantage results from the ability to manage change and harness the resources and capabilities consistent with ________ strategies.

Large firms can use ________ to pursue shaping strategies.

Fast-follower advantages increase under all of the following conditions except ________.

Discuss the challenges to sustainable competitive advantage.

Strategic-positioning decisions should be supported by only a select few tactical decisions made to implement and reinforce the firm's strategy.

Industry convergence occurs when two distinct industries evolve toward a(n) ________.

Incumbents adopting the annulment strategy improve their own products.

Detecting and responding quickly to unexpected customer demands is called ________.

As industry products become perceived as undifferentiated, the ability of firms to generate premium pricing ________.

As part of the absorption strategy, an incumbent may try to leverage a buyout by taking control of industry distribution channels.

A firm contemplating a second-mover strategy should consider the inimitability of its new product.

Which of the following is not a characteristic mindset of new-market creation?

Any firm that invests in resources and capabilities that support innovation and not retaliation may be only prolonging its inevitable demise.

There is a close connection between tactical moves and strategy evolution.

Competitive advantage is developed when a firm can create value in similar ways to their rivals.

In phase 1, competitive action can be initiated in all of the following ways except ________.

Introducing Strategic Management

Leading Strategically Through Effective Vision and Mission

Examining the Internal Environment: Resources

Exploring the External Environment: Macro Industry and Dynamics

Creating Business Strategies

Developing Corporate Strategy

Looking at International Strategies

Understanding Alliances and Cooperative Strategies

Studying Merges and Acquisitions

Organizational Structure, Systems, and Processes

Considering New Ventures and Corporate Renewal

Corporate Governance in the Twenty-First Century

Filters

Exam 6: Crafting Business Strategy of Dynamic Contexts

The industry life cycle can predict how quickly the drivers of industry demand will evolve.

The ________ strategy assumes considerable risk.

Competitive advantage is facilitated by possessing resources and capabilities that fulfill the VRINE criteria.

A challenger can gain a competitive market position to the extent that they can catch the leader unaware.

Increasingly, competitive advantage results from the ability to manage change and harness the resources and capabilities consistent with ________ strategies.

Large firms can use ________ to pursue shaping strategies.

Fast-follower advantages increase under all of the following conditions except ________.

Discuss the challenges to sustainable competitive advantage.

Strategic-positioning decisions should be supported by only a select few tactical decisions made to implement and reinforce the firm's strategy.

Industry convergence occurs when two distinct industries evolve toward a(n) ________.

Incumbents adopting the annulment strategy improve their own products.

Detecting and responding quickly to unexpected customer demands is called ________.

As industry products become perceived as undifferentiated, the ability of firms to generate premium pricing ________.

As part of the absorption strategy, an incumbent may try to leverage a buyout by taking control of industry distribution channels.

A firm contemplating a second-mover strategy should consider the inimitability of its new product.

Which of the following is not a characteristic mindset of new-market creation?

Any firm that invests in resources and capabilities that support innovation and not retaliation may be only prolonging its inevitable demise.

There is a close connection between tactical moves and strategy evolution.

Competitive advantage is developed when a firm can create value in similar ways to their rivals.

In phase 1, competitive action can be initiated in all of the following ways except ________.

Introducing Strategic Management

Leading Strategically Through Effective Vision and Mission

Examining the Internal Environment: Resources

Exploring the External Environment: Macro Industry and Dynamics

Creating Business Strategies

Developing Corporate Strategy

Looking at International Strategies

Understanding Alliances and Cooperative Strategies

Studying Merges and Acquisitions

Organizational Structure, Systems, and Processes

Considering New Ventures and Corporate Renewal

Corporate Governance in the Twenty-First Century

Filters