Exam 6: Crafting Business Strategy of Dynamic Contexts

What are the conditions under which a first-mover advantage is valuable?

Firms need some degree of ability to thrive in chaotic environments in order to survive.

What are the five possible competitor-response strategies?

A strategy that depends on rapid change requires that a firm's resources and capabilities support stability and continuity.

Strategies are most effective when firms leverage unique, firm-specific resources and capabilities.

To create new market space, companies must remain focused on their existing rivals and actively try to match what they are offering customers.

Disruptive technologies are those that change the face of the business environment by altering who the leaders are.

A revolutionary firm is one that ________.

The ________ has not opened up new temporal and geographic accessibility for many businesses.

What are the alternatives to dealing with the pressures of commoditization?

Firms that choose to initiate strategic actions are called ________.

If a regional firm wants to grow into a premier national company, all but which of the following might be in its sequence of activities?

A conventional way to reconfigure the value chain is to compress it by ________.

Successful strategies increasingly require that firms change the rules of the game.

What is a takeoff period?

A firm can redefine its arena by doing all but which of the following?

With regard to competitive unpredictability, strategy research shows that challengers must launch many assaults on the industry leader in a short period of time.

Large firms may use funding to pursue shaping strategies.

A successful low-cost strategy requires different resources and capabilities than a differentiation strategy.

Challenges to sustained competitive advantage include anything that threatens VRINE resources and capabilities.