The two business models we reviewed—Industrial Organization and Resource-Based—focus, respectively, on _____ and _____ analysis: - Answer-external; internal
What is the primary objective of a company strategy? - Answer-Achieving sustainable competitive advantage.
Below are several stateme...
WPC 480 ASU Final Exam Questions and
Answers
The two business models we reviewed—Industrial Organization and Resource-Based—
focus, respectively, on _____ and _____ analysis: - Answer-external; internal
What is the primary objective of a company strategy? - Answer-Achieving sustainable
competitive advantage.
Below are several statements from companies. Which of these is a vision statement? -
Answer-Habitat for Humanity: A world where everyone has a decent place to live.
A mission statement can describe: - Answer-what the company does in terms of its
customers and their needs and what core competencies it utilizes to meet those needs.
When segmenting global geographical markets, what countries would an analyst review
when doing a MINT analysis? - Answer-Mexico, Indonesia, Nigeria, Turkey
A telecommunications company is impacted by government regulations of the wireless
spectrum, cell tower locations, and internet accessibility. The company decides to hire a
lobbying firm to represent its interests with the U.S. government, specifically the FCC,
FTC, and Congress. This is an example of a company managing which PESTEL
environmental factor? - Answer-Political
The likelihood of entry of new competitors is affected by _____ and _____. - Answer-
barriers to entry; expected retaliation of current industry organizations
From Five Forces analysis, suppliers are most powerful when a company: - Answer-
would have switching costs if it went to a different supplier because the current
supplier's products are unique.
An intangible resource is one that: - Answer-is rooted deeply in the company history and
culture, is gathered over time, and is difficult for competitors to analyze or imitate.
All core competencies have the potential to become core: - Answer-rigidities.
In the resource-based model of above-average returns, a core competency is - Answer-
something that gives a company an edge over the competition, something that the
company possesses that its competitors do not have, and something that is too difficult
or costly for competitors to copy or produce an alternative.
A company is analyzing its value chain to discover its value-creating activities. While
formulating its strategy, the firm will: - Answer-evaluate the primary activities and
, support functions to determine which of these contribute the greatest value in the
product or service being sold to customers.
An alternative to the Cost Leadership vs. Differentiation approach was presented in
class. Which of the following was NOT one of the three value disciplines from the book
The Discipline of Market Leaders? - Answer-Continual Innovation
Research indicates that a competitive advantage in logistics is a primary strategy that
creates the most value for a cost leadership strategy. Choose which of these value-
creating activities should be a focus for a company pursuing a cost leadership strategy.
- Answer-Supply chain
Market segmentation is a part of all business-level strategies and is used to determine
which customers to serve. This is most critical for which business-level strategies? -
Answer-
All of the following are considered generic business-level strategies EXCEPT: - Answer-
product diversification.
Which characteristic best describes tactical actions? - Answer-
FedEx and United Postal Service compete in many of the same markets and have
similar types of truck and airplane fleets, similar levels of financial capital, and other
similarities. These tangible and intangible resources between the two firms describes
the: - Answer-resource similarity.
Apple quickly launches their next wave of innovative iPhones in order to keep up with
competitors like Samsung and Microsoft. Imitation is rapid and inexpensive in the
smartphone industry. Apple is a part of what kind of market? - Answer-Fast-cycle
market
A firm that responds to the first mover's competitive action, typically though imitation, is
called a: - Answer-second mover.
The ultimate test of the value of a corporate-level strategy is whether the: - Answer-
businesses in the portfolio are worth more under the management of the company in
question than they would be under any other ownership.
Which of the following would be motive(s) for top-level executives to diversify their firm
for value-reducing reasons? - Answer-
Apple has been known to sell its products at higher rates than competitors such as
Microsoft, as it has been successful at convincing consumers that Apple products are
special and more luxurious in comparison. By accomplishing this, Apple has gained: -
Answer-market power.
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