Question 1

The minimum efficient scale (MES) is the output level that delivers the ________.

Accepted Answer

A)  highest possible revenues 
B)  lowest possible costs 
C)  highest possible net 
D)  lowest margin 
A)  highest possible revenues 
B)  lowest possible costs 
C)  highest possible net 
D)  lowest margin

Question 2

As industries enter periods of rapid growth, early movers are virtually guaranteed rapid growth.

Accepted Answer

A) True 
 B)False

Question 3

Economies of scale exist if average costs are lower at higher levels of production.

Accepted Answer

A) True 
 B)False

Question 4

Economies of scale exist if average costs are lower at higher levels of production. What actions can be taken by firms that result in economies of scale?

Accepted Answer

Economies of scale can result from a var

Question 5

What are basic criteria that must be satisfied by firms pursuing a successful differentiation strategy?

Accepted Answer

A successful differentiation strategy po

Question 6

When firms make decisions about the arenas in which they will compete, they are determining their ________.

Accepted Answer

A)  strategic position 
B)  strategic approach 
C)  scope of involvement 
D)  market logic 
A)  strategic position 
B)  strategic approach 
C)  scope of involvement 
D)  market logic

Question 7

Economies of scope are similar to economies of scale.

Accepted Answer

A) True 
 B)False

Question 8

What are the four stages of the industry life cycle?

Accepted Answer

The different stages of an ind

Question 9

Porter's strategy model is based on the potential source of strategic advantage and the breadth of the target market.

Accepted Answer

A) True 
 B)False

Question 10

What are some of the possible threats facing the low-cost competitive position?

Accepted Answer

There are numerous threats facing firms

Question 11

All of the following are possible threats to the differentiation strategic position except ________.

Accepted Answer

A)  new technology 
B)  failing to increase buyers' willingness to pay 
C)  underestimating costs 
D)  lower-cost imitation 
A)  new technology 
B)  failing to increase buyers' willingness to pay 
C)  underestimating costs 
D)  lower-cost imitation

Question 12

Strategy-formulation tools enable you to test the quality of a firm's strategy. These tools include all but the ________ model.

Accepted Answer

A)  VRINE 
B)  strategic management 
C)  strategic-positioning 
D)  industry-structure 
A)  VRINE 
B)  strategic management 
C)  strategic-positioning 
D)  industry-structure

The minimum efficient scale (MES) is the output level that delivers the ________.

As industries enter periods of rapid growth, early movers are virtually guaranteed rapid growth.

Economies of scale exist if average costs are lower at higher levels of production.

Economies of scale exist if average costs are lower at higher levels of production. What actions can be taken by firms that result in economies of scale?

What are basic criteria that must be satisfied by firms pursuing a successful differentiation strategy?

When firms make decisions about the arenas in which they will compete, they are determining their ________.

Economies of scope are similar to economies of scale.

What are the four stages of the industry life cycle?

Porter's strategy model is based on the potential source of strategic advantage and the breadth of the target market.

What are some of the possible threats facing the low-cost competitive position?

All of the following are possible threats to the differentiation strategic position except ________.

Strategy-formulation tools enable you to test the quality of a firm's strategy. These tools include all but the ________ model.

Introducing Strategic Management

Leading Strategically Through Effective Vision and Mission

Examining the Internal Environment: Resources

Exploring the External Environment: Macro Industry and Dynamics

Crafting Business Strategy of Dynamic Contexts

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 5: Creating Business Strategies

The minimum efficient scale (MES) is the output level that delivers the ________.

As industries enter periods of rapid growth, early movers are virtually guaranteed rapid growth.

Economies of scale exist if average costs are lower at higher levels of production.

Economies of scale exist if average costs are lower at higher levels of production. What actions can be taken by firms that result in economies of scale?

What are basic criteria that must be satisfied by firms pursuing a successful differentiation strategy?

When firms make decisions about the arenas in which they will compete, they are determining their ________.

Economies of scope are similar to economies of scale.

What are the four stages of the industry life cycle?

Porter's strategy model is based on the potential source of strategic advantage and the breadth of the target market.

What are some of the possible threats facing the low-cost competitive position?

All of the following are possible threats to the differentiation strategic position except ________.

Strategy-formulation tools enable you to test the quality of a firm's strategy. These tools include all but the ________ model.

Introducing Strategic Management

Leading Strategically Through Effective Vision and Mission

Examining the Internal Environment: Resources

Exploring the External Environment: Macro Industry and Dynamics

Crafting Business Strategy of Dynamic Contexts

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