Question 1

Major actions taken by one firm are usually noticed by competitors.

Accepted Answer

A) True 
 B)False

Question 2

Exit options give firms the option to walk away from a project in response to new information.

Accepted Answer

A) True 
 B)False

Question 3

New-market creation emphasizes actions and capabilities that are determined by competitors' moves.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

All of the following are dimensions causing dynamic contexts except ________.

Accepted Answer

A)  competitive interactions 
B)  industry evolution 
C)  technological disruptions 
D)  staging elements 
A)  competitive interactions 
B)  industry evolution 
C)  technological disruptions 
D)  staging elements

Question 6

Strategic-positioning decisions should be supported by only a select few tactical decisions made to implement and reinforce the firm's strategy.

Accepted Answer

A) True 
 B)False

Question 7

Strategies for dealing with stable markets must pay special attention to the arenas and staging elements of the strategy diamond.

Accepted Answer

A) True 
 B)False

Question 8

First movers always attain dominant market positions.

Accepted Answer

A) True 
 B)False

Question 9

Types of revolutionary strategies that can introduce major disruption into an industry include all except ________.

Accepted Answer

A)  reconceiving a product or service 
B)  reconfiguring the value chain 
C)  reconsidering the market 
D)  rescaling the industry 
A)  reconceiving a product or service 
B)  reconfiguring the value chain 
C)  reconsidering the market 
D)  rescaling the industry

Question 10

Large firms can use ________ to pursue shaping strategies.

Accepted Answer

A)  containment 
B)  funding 
C)  slotting fees 
D)  product improvement 
A)  containment 
B)  funding 
C)  slotting fees 
D)  product improvement

Question 11

Fast-follower advantages increase under all of the following conditions except ________.

Accepted Answer

A)  the first mover lacks a key complement such as channel access 
B)  rapid technological advances 
C)  the first mover's product or service strikes a positive chord but is flawed 
D)  the first mover's profit is high 
A)  the first mover lacks a key complement such as channel access 
B)  rapid technological advances 
C)  the first mover's product or service strikes a positive chord but is flawed 
D)  the first mover's profit is high

Question 12

The five competitive strategies for use in a dynamic environment are purely defensive strategies.

Accepted Answer

A) True 
 B)False

Question 13

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?

Accepted Answer

A)  sell off parts of the company that are profitable 
B)  enter into adjacent regional markets 
C)  develop differentiators designed to build brand awareness 
D)  rapidly expand through acquisitions funded by increasingly valuable stock price 
A)  sell off parts of the company that are profitable 
B)  enter into adjacent regional markets 
C)  develop differentiators designed to build brand awareness 
D)  rapidly expand through acquisitions funded by increasingly valuable stock price

Question 14

Sometimes the time period between first movers and second movers may be several weeks or several years.

Accepted Answer

A) True 
 B)False

Question 15

Detecting and responding quickly to unexpected customer demands is called ________.

Accepted Answer

A)  anticipating change 
B)  speed of change 
C)  reacting to change 
D)  market segment change 
A)  anticipating change 
B)  speed of change 
C)  reacting to change 
D)  market segment change

Question 16

New firms' business models cannot be imitated quickly by incumbents because of tradeoffs with value-chain activities that are essential to the incumbents.

Accepted Answer

A) True 
 B)False

Question 17

In reality, most newcomers adopt some combination of ________ and ________ disruption strategies.

Accepted Answer

A)  mid-term; high-end 
B)  new-market; high-end 
C)  new-market; low-end 
D)  new-market; mid-term 
A)  mid-term; high-end 
B)  new-market; high-end 
C)  new-market; low-end 
D)  new-market; mid-term

Question 18

The ________ strategy assumes considerable risk.

Accepted Answer

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

Question 19

A rapid and unpredictable environment requires firms to pursue dynamic strategies.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Major actions taken by one firm are usually noticed by competitors.

Exit options give firms the option to walk away from a project in response to new information.

New-market creation emphasizes actions and capabilities that are determined by competitors' moves.

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

All of the following are dimensions causing dynamic contexts except ________.

Strategic-positioning decisions should be supported by only a select few tactical decisions made to implement and reinforce the firm's strategy.

Strategies for dealing with stable markets must pay special attention to the arenas and staging elements of the strategy diamond.

First movers always attain dominant market positions.

Types of revolutionary strategies that can introduce major disruption into an industry include all except ________.

Large firms can use ________ to pursue shaping strategies.

Fast-follower advantages increase under all of the following conditions except ________.

The five competitive strategies for use in a dynamic environment are purely defensive strategies.

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?

Sometimes the time period between first movers and second movers may be several weeks or several years.

Detecting and responding quickly to unexpected customer demands is called ________.

New firms' business models cannot be imitated quickly by incumbents because of tradeoffs with value-chain activities that are essential to the incumbents.

In reality, most newcomers adopt some combination of and disruption strategies.

The ________ strategy assumes considerable risk.

A rapid and unpredictable environment requires firms to pursue dynamic strategies.

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

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

Major actions taken by one firm are usually noticed by competitors.

Exit options give firms the option to walk away from a project in response to new information.

New-market creation emphasizes actions and capabilities that are determined by competitors' moves.

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

All of the following are dimensions causing dynamic contexts except ________.

Strategic-positioning decisions should be supported by only a select few tactical decisions made to implement and reinforce the firm's strategy.

Strategies for dealing with stable markets must pay special attention to the arenas and staging elements of the strategy diamond.

First movers always attain dominant market positions.

Types of revolutionary strategies that can introduce major disruption into an industry include all except ________.

Large firms can use ________ to pursue shaping strategies.

Fast-follower advantages increase under all of the following conditions except ________.

The five competitive strategies for use in a dynamic environment are purely defensive strategies.

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?

Sometimes the time period between first movers and second movers may be several weeks or several years.

Detecting and responding quickly to unexpected customer demands is called ________.

New firms' business models cannot be imitated quickly by incumbents because of tradeoffs with value-chain activities that are essential to the incumbents.

In reality, most newcomers adopt some combination of ________ and ________ disruption strategies.

The ________ strategy assumes considerable risk.

A rapid and unpredictable environment requires firms to pursue dynamic strategies.

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

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

In reality, most newcomers adopt some combination of and disruption strategies.