Exam 6: Crafting Business Strategy of Dynamic Contexts

Dynamic strategies require firms to make coherent tradeoffs between the economic logic of low cost and differentiation.

Change drivers are not impacted by the speed of change.

The advantage of a real option investment is that a firm can ________ when the competitive environment shifts.

High-end disruptions rarely offer features that satisfy the best customers in the industry.

The absorption strategy works well when the firm has identified the threat at an early stage.

The strategist always makes important and reasoned choices about the firm's mix of all except ________.

Explain the four basic questions used to discover new-market space outlined in the Four Actions Framework.

A technological discontinuity is an innovation that dramatically advances an industry's price-versus-performance frontier.

Discontinuities that affect product technology rarely favor differentiation strategies.

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

Instead of retaliation, incumbent firms may strategically decide that ________ is the best course of action.

What are some of the factors that a firm should consider before choosing a first-mover strategy?

A first-mover advantage is valuable under all of the conditions except ________.

First movers bear significant risks including the costs of all but which of the following?

All of the following are categories of real options except ________.

What are the three things managers can do to redefine their arenas?

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

An important insight from the value net model is that the same player might ________.

The purpose of the containment strategy is to minimize the risks entailed by being a first mover.

To excel at a(n) ________ strategy, a firm must assume the role of first mover.