Question 1

Differentiate the different levels of strategy and their importance to MTI.

Accepted Answer

The answer of Differentiate the different levels of strategy and...

Question 2

Buyers gain power when the costs of switching to competing brands or substitutes are high.

Accepted Answer

A) True 
 B)False

Question 3

Buyers are strong if all of the following are present except:

Accepted Answer

A)  Buyers buy a large percentage of the industry's output 
B)  Low switching cost 
C)  Large number of sellers in the industry 
D)  The industry is selling a commodity product to the buyers 
E)  There are high capital requirements

Question 4

The goals and objectives the firm establishes should be:

Accepted Answer

A)  Based on balance sheet and income statement 
B)  Financially sophisticated so that stock analysis can understand them 
C)  Developed by the CEO and enforced by the senior management of the firm 
D)  Both quantitative and qualitative 
E)  One no longer than one year in advance

Question 5

Firms that use technology in a similar manner as other firms in its industry are using it in a(n) ____ manner.

Accepted Answer

A)  Offensive 
B)  Defensive 
C)  Substitute 
D)  Competitive 
E)  Innovative

Question 6

Discuss the two methods in which technology can be employed.

Accepted Answer

The answer of Discuss the two methods in which technology...

Question 7

Suppliers are powerful if:

Accepted Answer

A)  There are low switching costs 
B)  Customers can only vertically integrate forwards 
C)  The product supplied is unique 
D)  There is low demand for the product 
E)  There are high capital costs

Question 8

Business level strategy establishes:

Accepted Answer

A)  How domains such as marketing will operate to achieve strategic goals 
B)  How individual businesses will operate 
C)  What industries and businesses the firm will compete 
D)  How individuals will progress through the corporation 
E)  The defensive use of technology in the firm

Question 9

Capabilities are:

Accepted Answer

A)  Skills the firm develops 
B)  The strategic direction the firm will seek to pursue 
C)  The building blocks for the value chain analysis 
D)  The building blocks of the five forces analysis 
E)  Central to the analysis of complementors

Question 10

What is a substitute product?

Accepted Answer

A)  A product that is exactly the same as another 
B)  A product that performs a similar function but is not exactly the same as another 
C)  A completely different product 
D)  A product that goes well with another product 
E)  Another product which customers like

Question 11

The root of Porter's Five forces is Industrial Organization economics.

Accepted Answer

A) True 
 B)False

Question 12

A firm uses technology in an offensive manner when it employs a technology in a manner the same as competitors in order to gain a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 13

The planning effort by the firm requires that the firm be clear what the firm's external capabilities are.

Accepted Answer

A) True 
 B)False

Question 14

Strategic groups are:

Accepted Answer

A)  Firms from substitute industries 
B)  Firms from the same industry and compete in similar manners 
C)  Firms from the same industry and compete in different manners 
D)  Firms in the same industry that have the same size 
E)  Firms from different industries that are in the same region

Question 15

What is a value chain analysis? Why is it important to MTI?

Accepted Answer

The answer of What is a value chain analysis? Why...

Question 16

Who are the firms or individuals that provide input into the ultimate output of the industry?

Accepted Answer

A)  Distributors 
B)  Suppliers 
C)  Retailers 
D)  Corporate Headquarters 
E)  Buyers

Question 17

The ____ should identify in relatively few words what is unique about the firm and the scope of activities it wants to pursue.

Accepted Answer

A)  Goal statement 
B)  Mission 
C)  Prospectus 
D)  Strategic plan 
E)  Industrial analysis

Question 18

Managers must be reactive and make technology a part of the overall strategic efforts of the firm if they want to be successful.

Accepted Answer

A) True 
 B)False

Question 19

Technology's impact on the competitive environment is disruptive if:

Accepted Answer

A)  The change and impact is dramatic in society from the technology 
B)  There is a constant flow of small changes in the technology 
C)  The technology has not substantively been present before 
D)  The technology places existing industries out of business 
E)  There is no impact from the technology

Question 20

The impact of a strategy comes from the firm setting a clear direction and taking actions that are consistent with that strategy. The common areas that the firm needs to focus on include:

Accepted Answer

A)  Incentives 
B)  Structure and decision making 
C)  Communication and employee relations 
D)  Culture 
E)  All of these choices

Exam 2: Strategy Process and the Management of Technology and Innovation

Differentiate the different levels of strategy and their importance to MTI.

Buyers gain power when the costs of switching to competing brands or substitutes are high.

Buyers are strong if all of the following are present except:

The goals and objectives the firm establishes should be:

Firms that use technology in a similar manner as other firms in its industry are using it in a(n) ____ manner.

Discuss the two methods in which technology can be employed.

Suppliers are powerful if:

Business level strategy establishes:

Capabilities are:

What is a substitute product?

The root of Porter's Five forces is Industrial Organization economics.

A firm uses technology in an offensive manner when it employs a technology in a manner the same as competitors in order to gain a competitive advantage.

The planning effort by the firm requires that the firm be clear what the firm's external capabilities are.

Strategic groups are:

What is a value chain analysis? Why is it important to MTI?

Who are the firms or individuals that provide input into the ultimate output of the industry?

The ____ should identify in relatively few words what is unique about the firm and the scope of activities it wants to pursue.

Managers must be reactive and make technology a part of the overall strategic efforts of the firm if they want to be successful.

Technology's impact on the competitive environment is disruptive if:

The impact of a strategy comes from the firm setting a clear direction and taking actions that are consistent with that strategy. The common areas that the firm needs to focus on include: