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

_____, also known as the Industry and Competitive Analysis, is a popular framework for examining a firm's competitive environment.

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(Short Answer)

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Question 1

Correct Answer:

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Porter's five forces

List the various components of a value chain and give a brief description of each of them.

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(Essay)

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Question 2

Correct Answer:

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The value chain is the "set of activities through which a product or service is created and delivered to customers. There are five primary components of the value chain and four supporting components. The primary components are as follows:
Inbound logistics-getting needed materials and other inputs into the firm from suppliers
Operations-turning inputs into products or services
Outbound logistics-delivering products or services to consumers, distribution centers, retailers, or other partners
Marketing and sales-customer engagement, pricing, promotion, transaction
Support-service, maintenance, and customer support
The secondary components are:
Firm infrastructure-functions that support the whole firm, including general management, planning, IS, and finance
Human resource management-recruiting, hiring, training, and development
Technology /
research and development-new product and process design
Procurement-sourcing and purchasing functions

_____ Law is said to be at play when the value of a product or service increases as its number of users expands.

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(Multiple Choice)

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Question 3

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_____ software is implemented in modules to automate the entire value chain.

(Short Answer)

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Question 4

According to the resource-based view of competitive advantage, if a firm is to maintain a sustainable competitive advantage, it must control a set of resources that have four critical characteristics. Which of the following is one of those characteristics?

(Multiple Choice)

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Question 5

When technology can be matched quickly, it is rarely a source of competitive advantage.

(True/False)

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Question 6

Moving first pays off when the time lead is used to create:

(Multiple Choice)

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Question 7

What are the "five forces of industry competitive analysis" put forth by Porter? What effect has the Internet had on the bargaining power of buyers and sellers?

(Essay)

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Question 8

_____ hold intellectual property not with the goal of bringing novel innovations to market but instead in hopes that they can sue or extort large settlements from others.

(Short Answer)

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Question 9

Political shock and social changes can help alter the competitive landscape.

(True/False)

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Question 10

Consumers buying commodities are highly _____ since they have so many similar choices.

(Multiple Choice)

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Question 11

Which of the following represents one of the primary components of the value chain?

(Multiple Choice)

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Question 12

A decision situation where one party has more or better information than its counterparty is called a(n) _____.

(Short Answer)

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Question 13

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

(Multiple Choice)

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Question 14

In the United States, business models cannot be patented because the field of business is extremely dynamic.

(True/False)

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Question 15

A(n) _____ is the symbolic embodiment of all the information connected with a product or service.

(Multiple Choice)

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Question 16

Which of the following represents one of the sources of switching costs?

(Multiple Choice)

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Question 17

Leveraging consumers to promote a product or service is known as _____.

(Multiple Choice)

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Question 18

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

(True/False)

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Question 19

Many telecom firms began digging up the ground and laying webs of fiberglass to meet the growing demand for Internet connectivity. However, rivals and startups began to imitate these firms and soon these new assets were not so rare and each day they seemed to be less valuable. It can be inferred from this example that:

(Multiple Choice)

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Question 20

Showing 1 - 20 of 70

_____, also known as the Industry and Competitive Analysis, is a popular framework for examining a firm's competitive environment.

List the various components of a value chain and give a brief description of each of them.

_____ Law is said to be at play when the value of a product or service increases as its number of users expands.

_____ software is implemented in modules to automate the entire value chain.

According to the resource-based view of competitive advantage, if a firm is to maintain a sustainable competitive advantage, it must control a set of resources that have four critical characteristics. Which of the following is one of those characteristics?

When technology can be matched quickly, it is rarely a source of competitive advantage.

Moving first pays off when the time lead is used to create:

What are the "five forces of industry competitive analysis" put forth by Porter? What effect has the Internet had on the bargaining power of buyers and sellers?

_____ hold intellectual property not with the goal of bringing novel innovations to market but instead in hopes that they can sue or extort large settlements from others.

Political shock and social changes can help alter the competitive landscape.

Consumers buying commodities are highly _____ since they have so many similar choices.

Which of the following represents one of the primary components of the value chain?

A decision situation where one party has more or better information than its counterparty is called a(n) _____.

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

In the United States, business models cannot be patented because the field of business is extremely dynamic.

A(n) _____ is the symbolic embodiment of all the information connected with a product or service.

Which of the following represents one of the sources of switching costs?

Leveraging consumers to promote a product or service is known as _____.

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

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