Crafting Ch. 3
Crafting Ch. 4
Crafting Ch. 5
Strategic Ch. 4
Strategic Ch. 5 and 6
100
(p. 84) Evaluating whether an industry presents a sufficiently attractive business opportunity usually does not involve a consideration of which of the following factors? A. The industry's growth potential, whether competitive pressures will likely grow stronger or weaker, and whether the industry's future profit prospects are above average, average, or below average B. An assessment of the degrees of business risk and uncertainty in the industry's future C. Whether the industry's future profitability will be favorably or unfavorably affected by the prevailing driving forces D. The severity of the problems confronting the industry as a whole E. Whether the industry's product is strongly or weakly differentiated
What is E. Whether the industry's product is strongly or weakly differentiated
100
(p. 100-101) The competitive power of a company resource strength is not measured by which one of the following tests? A. Is the resource rare and something rivals lack? B. Is the resource strength something that a company does internally rather than in collaborative arrangements with outsiders? C. Is the resource strength easily trumped by the substitute resources/capabilities of rivals? D. Is the resource strength hard to copy? E. Is the resource strength competitively valuable, having the potential to contribute to a competitive advantage?
What is B. Is the resource strength something that a company does internally rather than in collaborative arrangements with outsiders?
100
(p. 158) Best-cost provider strategies are appealing in those market situations where A. diverse buyer preferences make product differentiation the norm and where many buyers are sensitive to both price and value. B. a company is positioned between competitors who have ultra-low prices and competitors who have top-notch products in terms of both quality and performance. C. buyers are more quality-conscious than price-conscious. D. there are numerous buyer segments, buyer needs are diverse across these segments, only a few of the segments are growing rapidly, and seller's products are strongly differentiated. E. buyers are more performance conscious than value conscious.
What is A. diverse buyer preferences make product differentiation the norm and where many buyers are sensitive to both price and value.
100
(p. 97) One of the most important steps a firm can take in achieving a competitive position with regard to the eco-efficiency strategy is to A. Outsource the operations to a developing country B. Fully capitalize on technological developments C. Shift from service to manufacturing operations D. Mandate that all suppliers, distributors and customers reduce their resource consumption
What is B. Fully capitalize on technological developments
100
(p. 128) In which of these orientations is national responsiveness a key strategic priority? A. Ethnocentric B. Polycentric C. Geocentric D. Regioentric
What is B. Polycentric
200
(p. 83) Which of the following can aid industries in identifying key success factors? A. Global distribution capabilities B. Crucial product attributes and service characteristics C. Low distribution costs D. Accurate filling of buyer orders E. Short delivery time capability
What is B. Crucial product attributes and service characteristics
200
(p. 108) Which one of the following is not something that can be gleaned from identifying a company's resource strengths, resource weaknesses, market opportunities, and external threats? A. How to improve a company's strategy by using company strengths and capabilities as cornerstones for its strategy B. Which market opportunities are best suited to a company's strengths and capabilities C. Which resource weaknesses and deficiencies need to be corrected so as to better enable the pursuit of important market opportunities and to better defend against certain external threats D. How to turn a core competence into a distinctive competence E. Whether any of the company's resource strengths can be used to help lessen the impact of external threats
What is D. How to turn a core competence into a distinctive competence
200
(p. 157) The risks of a focused strategy based on either low-cost or differentiation include A. the chance that niche customers will bargain more aggressively for good deals than customers in the overall marketplace. B. the potential for the preferences and needs of niche members to shift over time towards many of the same product attributes and capabilities desired by buyers in the mainstream portion of the market. C. the potential for the segment to be highly vulnerable to economic cycles. D. the potential for segment growth to race beyond the production or service capabilities of incumbent firms. E. All of these.
What is B. the potential for the preferences and needs of niche members to shift over time towards many of the same product attributes and capabilities desired by buyers in the mainstream portion of the market.
200
(p. 93) Threats to life-supporting ecology caused principally by human activities in an industrial society are commonly referred to as A. Technology B. Co-efficiency C. Pollution D. Product differentiation
What is C. Pollution
200
(p. 127) A(n) ______ orientation exists when the parent attempts to blend its own predisposition with those of the region under consideration. A. Polycentric B. Regiocentric C. Ethnocentric D. Geocentric
What is B. Regiocentric
300
(p. 81-82) In seeking to predict the next moves of close or key rivals, it is useful to consider such questions as: A. Which rivals badly need to increase their unit sales and market share and what new offensive initiatives are they likely to employ? B. Which rivals are poised to gain market share and which seem destined to lose market share? C. Which rivals are good candidates to be acquired? D. Which rivals are likely to enter new geographic markets or expand their product offerings (so as to enter new market segments where they currently do not have a presence)? E. All of these.
What is E. All of these.
300
(p. 120) Value-creating activities A. focuses on exploiting a company's best-executed operating strategy. B. is based upon efficient performance of the company's primary value chain activities. C. concentrates on minimizing the costs associated with the design of a product or service. D. deliberately develop valuable competencies and capabilities that add to a company's competitive power in the marketplace. E. focuses on working with forward channel allies to develop capabilities to outmatch the capabilities of rivals.
What is D. deliberately develop valuable competencies and capabilities that add to a company's competitive power in the marketplace.
300
(p. 153) What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies is A. the extra attention paid to top-notch product performance and product quality. B. their concentrated attention on serving the needs of buyers in a narrow piece of the overall market. C. greater opportunity for competitive advantage. D. their suitability for market situations where most industry rivals have weakly differentiated products. E. their objective of delivering more value for the money.
What is B. their concentrated attention on serving the needs of buyers in a narrow piece of the overall market.
300
(p. 92) Political activity may have a significant impact on which of the following governmental functions? A. Religious orientation B. Customer function C. Manufacturer function D. Social changes
What is B. Customer function
300
(p. 126) In the past 30 years, the U.S. has ______ in terms of technological advantage. A. substantially enhanced B. maintained a status quo C. declined dramatically D. reaches the number one spot in the world
What is C. declined dramatically
400
(p. 80) One of the things that can be gleaned from a strategic group map of industry rivals is A. which rivals have been in business longer and thus have greater access to experience curve effects. B. which rivals have newer manufacturing facilities. C. which strategic groups have the highest profit margins and the highest customer switching costs. D. whether profit prospects vary among strategic groups due to strengths and weaknesses in their respective market positions on the map (perhaps because competitive pressures are acting to favor some strategic groups and to disadvantage other groups). E. which strategic groups are currently viewed as the most prestigious by customers and which companies are being shunned by customers because of high prices and relatively low product quality.
What is D. whether profit prospects vary among strategic groups due to strengths and weaknesses in their respective market positions on the map (perhaps because competitive pressures are acting to favor some strategic groups and to disadvantage other groups).
400
(p. 124) Calculating competitive strength ratings for a company and comparing them against strength ratings for its key competitors helps indicate A. which weaknesses and vulnerabilities of competitors the company might be able to attack successfully. B. which competitors are in profitable strategic groups and which competitors are in unprofitable strategic groups. C. which competitors are employing offensive strategies and which competitors are employing defensive strategies. D. which competitors are likely to make money and which are likely to lose money in the years ahead. E. what the industry's key success factors are.
What is A. which weaknesses and vulnerabilities of competitors the company might be able to attack successfully.
400
(p. 151) A broad differentiation strategy works best in situations where A. technological change is slow-paced and new or improved products are infrequent. B. buyer needs and uses of the product are very similar. C. buyers incur low costs in switching their purchases to rival brands. D. buyers have a low degree of bargaining power and purchase the product frequently. E. technological change is fast-paced and competition revolves around rapidly evolving product features.
What is E. technological change is fast-paced and competition revolves around rapidly evolving product features.
400
(p. 87) When we consider the level of disposable income, we are normally considering: A. Technological factors B. Economic factors C. Political factors D. Social factors
What is B. Economic factors
400
(p. 174) _______ involve(s) identifying the factors associated with successful participation in a given industry. A. The resource-based view B. Value chain analysis C. Industry analysis D. Porter's generic strategies
What is C. Industry analysis
500
(p. 77) The real payoff for strategy making comes when managers draw conclusions about A. what strategy adjustments are needed to deal with the changes in conditions. B. determining the overall strength of the five competitive forces. C. determining whether the industry's strategic group map will be static or dynamic. D. conditions in the economy at large. E. the extent to which rivals have more than two competitively valuable competencies or capabilities
What is A. what strategy adjustments are needed to deal with the changes in conditions.
500
(p. 125) Which of the following is not part of the task of identifying the strategic issues and problems that merit front-burner managerial attention? A. Analyzing the company's external environment B. Evaluating the company's own resources and competitive position C. Surveying a company's board members, managers, select employees, and key investors regarding what strategic issues they think the company faces D. Developing a "worry list" of "how to," "whether to.," and "what to do about.." E. Assessing what challenges the company has to overcome in order to be financially and competitively successful in the years ahead
What is C. Surveying a company's board members, managers, select employees, and key investors regarding what strategic issues they think the company faces
500
From Strategic Ch. 5: (p. 128) ______ countries maintain their stability by restricting the flow of money, goods, services, people, and information across their borders. A. Open B. Closed C. Most D. Few
What is B. Closed
500
(p. 87) The remote external environment includes: A. Creditors B. Industry factors C. Employees D. Ecological factors
What is D. Ecological factors
500
(p. 174) _______ is a method of comparing the way a company performs a specific activity with a competitor, potential competitor or company doing the same thing. A. Benchmarking B. Imitating C. Value chain analysis D. Vertical integration
What is A. Benchmarking
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