Question 1

Firms that choose to initiate strategic actions are called ________.

Accepted Answer

A)  first movers 
B)  second movers 
C)  strategic leaders 
D)  fast followers 
A)  first movers 
B)  second movers 
C)  strategic leaders 
D)  fast followers A

Question 2

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 C

Question 3

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 B

Question 4

Research on strategy in hypercompetitive environments is typically anchored in all of the following except the ________.

Accepted Answer

A)  systems theory 
B)  chaos theory 
C)  adaptation theory 
D)  complexity theory 
A)  systems theory 
B)  chaos theory 
C)  adaptation theory 
D)  complexity theory

Question 5

Incumbents who use new-market strategies shift competitive focus to the task of redefining the business model for a part of the existing market.

Accepted Answer

A) True 
 B)False

Question 6

What is the difference between first and second movers?

Accepted Answer

First movers are firms that choose to in

Question 7

Effective second movers are sometimes referred to as fast followers.

Accepted Answer

A) True 
 B)False

Question 8

A value chain is the sequential steps of value-added activities that are necessary to create ________.

Accepted Answer

A)  a competitive advantage in a crowded industry 
B)  differentiation among industry leaders 
C)  low-cost alternatives to the products of industry leaders 
D)  a product or service that is used by the end consumer 
A)  a competitive advantage in a crowded industry 
B)  differentiation among industry leaders 
C)  low-cost alternatives to the products of industry leaders 
D)  a product or service that is used by the end consumer

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Commoditization is the process by which industry wide sales depend more on price and less on unique product features.

Accepted Answer

A) True 
 B)False

Question 11

The four actions framework includes all of the following actions except ________.

Accepted Answer

A)  reduce 
B)  eliminate 
C)  raise 
D)  reject 
A)  reduce 
B)  eliminate 
C)  raise 
D)  reject

Question 12

Several uses have emerged from the technology developed by credit card companies. Which is not one of these uses?

Accepted Answer

A)  employment identification badges 
B)  hotel keys 
C)  library cards 
D)  national park admission cards 
A)  employment identification badges 
B)  hotel keys 
C)  library cards 
D)  national park admission cards

Question 13

What are some possible pitfalls to the five competitor-response strategies?

Accepted Answer

A word of warning about the five strateg

Question 14

Discuss the challenges to sustainable competitive advantage.

Accepted Answer

It's important to understand why dynamic

Question 15

When a firm uses the ________ strategy, it identifies and acquires new entrants or establishes an alliance with them.

Accepted Answer

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

Question 16

What is a takeoff period?

Accepted Answer

A takeoff period is a period d

Question 17

With ________ options, an entry investment may create opportunities to pursue valuable follow-up projects.

Accepted Answer

A)  waiting-to-invest 
B)  growth 
C)  flexibility 
D)  learning 
A)  waiting-to-invest 
B)  growth 
C)  flexibility 
D)  learning

Question 18

A position in which the exploitation of a resource makes that resource stronger and more resilient is called ________.

Accepted Answer

A)  resource management 
B)  resource-based strategy 
C)  resource-based competitive advantage 
D)  resource-based execution 
A)  resource management 
B)  resource-based strategy 
C)  resource-based competitive advantage 
D)  resource-based execution

Question 19

New markets are often created when managers ________.

Accepted Answer

A)  export ideas from their competitors 
B)  focus on strategic convergence 
C)  eliminate some nonessential features that industry incumbents take for granted 
D)  react defensively to counteract the force of new entrants 
A)  export ideas from their competitors 
B)  focus on strategic convergence 
C)  eliminate some nonessential features that industry incumbents take for granted 
D)  react defensively to counteract the force of new entrants

Question 20

What are the four key words of the four-actions framework?

Accepted Answer

The key to discovering a new v

Firms that choose to initiate strategic actions are called ________.

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

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

Research on strategy in hypercompetitive environments is typically anchored in all of the following except the ________.

Incumbents who use new-market strategies shift competitive focus to the task of redefining the business model for a part of the existing market.

What is the difference between first and second movers?

Effective second movers are sometimes referred to as fast followers.

A value chain is the sequential steps of value-added activities that are necessary to create ________.

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

Commoditization is the process by which industry wide sales depend more on price and less on unique product features.

The four actions framework includes all of the following actions except ________.

Several uses have emerged from the technology developed by credit card companies. Which is not one of these uses?

What are some possible pitfalls to the five competitor-response strategies?

Discuss the challenges to sustainable competitive advantage.

When a firm uses the ________ strategy, it identifies and acquires new entrants or establishes an alliance with them.

What is a takeoff period?

With ________ options, an entry investment may create opportunities to pursue valuable follow-up projects.

A position in which the exploitation of a resource makes that resource stronger and more resilient is called ________.

New markets are often created when managers ________.

What are the four key words of the four-actions framework?

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

Firms that choose to initiate strategic actions are called ________.

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

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

Research on strategy in hypercompetitive environments is typically anchored in all of the following except the ________.

Incumbents who use new-market strategies shift competitive focus to the task of redefining the business model for a part of the existing market.

What is the difference between first and second movers?

Effective second movers are sometimes referred to as fast followers.

A value chain is the sequential steps of value-added activities that are necessary to create ________.

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

Commoditization is the process by which industry wide sales depend more on price and less on unique product features.

The four actions framework includes all of the following actions except ________.

Several uses have emerged from the technology developed by credit card companies. Which is not one of these uses?

What are some possible pitfalls to the five competitor-response strategies?

Discuss the challenges to sustainable competitive advantage.

When a firm uses the ________ strategy, it identifies and acquires new entrants or establishes an alliance with them.

What is a takeoff period?

With ________ options, an entry investment may create opportunities to pursue valuable follow-up projects.

A position in which the exploitation of a resource makes that resource stronger and more resilient is called ________.

New markets are often created when managers ________.

What are the four key words of the four-actions framework?

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