Exam 2: Strategy and Technology: Concepts and Frameworks for Understanding What Separates Winners From Losers

Diagram and label all components in the Porter Five Forces model (also known as the Industry and Competitive Analysis model)?

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Question 1

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Relate your understanding of the Porter's Five Forces model to describe how the Internet affects the bargaining power of buyers and sellers according to whether offers commodity or differentiated products.

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Question 2

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It is often suggested that the Internet increases bargaining power of buyers and lowers the bargaining power of suppliers. This suggestion is True for some industries like auto sales and jewelry where the products are commodities and the price transparency of the Internet counteracts a previous information asymmetry where customers often didn't know enough information about a product to bargain effectively. But it's not True across the board.
In cases where a seller's goods are highly differentiated, the Internet can strengthen supplier bargaining power. The customer base of an antique dealer used to be limited by how many likely purchasers lived within driving distance of a store. Now with eBay, the dealer can take a rare good to a global audience and have a much larger customer base bid up the price. Switching costs also weaken buyer bargaining power.

Operational effectiveness refers to:

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Question 3

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One of the key questions posed by 21st century managers is "How can we possibly compete when everyone can copy our technology and the competition is a click away?" One path to take involves creating a resource or set of resources for sustainable competitive advantage. List the four characteristics that such resources must have for the possibility of sustainable competitive advantage to exist. Why is it important to have all four simultaneously?

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Question 4

The _____ problem exists when rivals watch a pioneer's efforts, learn from their successes and missteps, and then enter the market quickly with a comparable or superior product at a lower cost.

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Question 5

Many firms choose not to implement operational components of ERP software and instead elect to create their own propriety solutions in part because they see their uniqueness in certain operations areas as key to creating difficult-to-imitate competitive advantages.

(True/False)

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Question 6

A firm is said to be _____ when it attempts to match the benefits of a successful position while maintaining its existing position.

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Question 7

If a firm's goods are highly differentiated, the Internet typically lessens the firm's bargaining power as a supplier.

(True/False)

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Question 8

Metcalfe's Law is used to explain the concept of switching costs.

(True/False)

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Question 9

The resource-based view of competitive advantage states that for a firm to maintain sustainable competitive advantage it must control a set of exploitable resources that have four critical characteristics. What are these characteristics?

(Multiple Choice)

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Question 10

A firm can benefit from high switching costs, even when rivals offer free products.

(True/False)

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Question 11

The internet is largely seen as lowering the entry barrier for new entrants, but firms that enter may have little chance of success unless they have a competitive advantage over existing rivals

(True/False)

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Question 12

Businesses benefit from economies of scale when the cost of an investment can be:

(Multiple Choice)

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Question 13

Sometimes technology can sound geeky and so technical that executives might think that it doesn't require managerial or investor attention. However many investing in the telecom sector suffered from a lack of insight on how a key technology was impacting their industry. Telecom firms failed to anticipate the impact of a technology known as ____________, which enabled existing fiber to carry more transmissions than ever before.

(Multiple Choice)

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Question 14

Benefits related to a firm's size are referred to as _____.

(Multiple Choice)

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Question 15

TiVo was a high-flying firm, whose name was synonymous with digital video recording. Why has the firm struggled to achieve consistent profitability?

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Question 16

A trademark is the symbolic embodiment of all the information connected with a product or service of a firm.

(True/False)

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Question 17

_____ refers to performing different tasks than rivals or the same tasks in a different way.

(Multiple Choice)

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Question 18

What are Porter's views in relation to operational effectiveness and strategic positioning? Contrast the two concepts.

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Question 19

A firm's financial performance that consistently outperforms its industry's peers is known as operational effectiveness.

(True/False)

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Question 20

Showing 1 - 20 of 72

Diagram and label all components in the Porter Five Forces model (also known as the Industry and Competitive Analysis model)?

Relate your understanding of the Porter's Five Forces model to describe how the Internet affects the bargaining power of buyers and sellers according to whether offers commodity or differentiated products.

Operational effectiveness refers to:

The _____ problem exists when rivals watch a pioneer's efforts, learn from their successes and missteps, and then enter the market quickly with a comparable or superior product at a lower cost.

Many firms choose not to implement operational components of ERP software and instead elect to create their own propriety solutions in part because they see their uniqueness in certain operations areas as key to creating difficult-to-imitate competitive advantages.

A firm is said to be _____ when it attempts to match the benefits of a successful position while maintaining its existing position.

If a firm's goods are highly differentiated, the Internet typically lessens the firm's bargaining power as a supplier.

Metcalfe's Law is used to explain the concept of switching costs.

The resource-based view of competitive advantage states that for a firm to maintain sustainable competitive advantage it must control a set of exploitable resources that have four critical characteristics. What are these characteristics?

A firm can benefit from high switching costs, even when rivals offer free products.

The internet is largely seen as lowering the entry barrier for new entrants, but firms that enter may have little chance of success unless they have a competitive advantage over existing rivals

Businesses benefit from economies of scale when the cost of an investment can be:

Benefits related to a firm's size are referred to as _____.

TiVo was a high-flying firm, whose name was synonymous with digital video recording. Why has the firm struggled to achieve consistent profitability?

A trademark is the symbolic embodiment of all the information connected with a product or service of a firm.

_____ refers to performing different tasks than rivals or the same tasks in a different way.

What are Porter's views in relation to operational effectiveness and strategic positioning? Contrast the two concepts.

A firm's financial performance that consistently outperforms its industry's peers is known as operational effectiveness.

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