Exam 6: Crafting Business Strategy of Dynamic Contexts

Explain the three dimensions that cause dynamic contexts.

When a threat is identified in an early stage, the most appropriate competitor-response strategy is ________.

All of the following are phases of competitive interaction except ________.

Industries that used increases in scale that were unconventional at the time in their industries include all except ________.

The purpose of the ________ strategy is to minimize the risks entailed by being either a first mover or an imitator.

Compare the conventional and new-market-creation strategic mind-sets across dimensions of competition.

Define first mover.

A firm's strategy should be consistent with its strengths and its ability to seize opportunities.

Because it must be externally oriented to be effective, strategy should always be static.

Incumbents adopting the annulment strategy improve their own products.

The opportunity to take action that will either maximize the upside of limit the downside of a capital investment is referred to as ________.

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

In the context of a firm's industry evolution, arenas must fit with all but which of the following?

The value curve is a convenient tool to help managers visualize how new disruptions might be targeted.

Interactions caused by new entrants in an industry are a severe source of dynamism when the entrants introduce a strategy that varies significantly from those used by incumbents.

Define the concepts of reacting to and anticipating change.

What does the strategic management of industry evolution involve?

What are the five possible competitor-response strategies?

Discuss some of the common characteristics of disruptions caused by competitors who use new business models.

What is a real option?