Strategic Management Midterm

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midterm revie w﷯﷯﷯ ﷯﷯﷯


 
  
Created Oct 8, 2010
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beaso100

 

 
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1
Factors such as BidBuy's feedback rating system that are valuable to the company's customers...
 
customer-switching costs
2
The ___ consists of broad trends in the context in which a firm operates that can have an impace...
 
general environment
3
Frequent price cutting by firms in an industry, frequent introduction of new products by firms...
 
high levels of rivalry
4
The most promosing opportunity for a firm in a declining industry is to
 
become a market leader in the pre-shakeout industry
5
The threat of suppliers in the hardwood furniture can best be described as
 
low because there are a large number of suppliers selling an undifferentiated product
6
Buyers tend to have less power when
 
the supplies they purchase are an insignificant portion of the costs of their final products
7
Firms that have either recently begun operations in an industry or that threaten to begin operations...
 
new entrants
8
Rivalry tends to be high when
 
firms are unable to differentiate their products
9
Firms that engage in a long, systematic phased withdrawal from an industry, extracting as much...
 
harvest
10
___ is/are the distribution of individuals in a society in terms of age, sex, marital status,...
 
Demographics
11
Industries in which a large number of small or medium-sized firms operate and no small set...
 
fragmented
12
The threat of rivalry in the hardwood furniture industry can best be described as
 
high because of the numerous firms in the industry and the slow growth rate
13
Most firms have a resource base that is comprosed primarily of resources and capabilities that...
 
valuable but not rare
14
In general, as long as the number of firms that possess a particular valuable resource or capability...
 
rare
15
LaserTech's new technology is an example of
 
physical resources.
16
Which of the following is an example of formal management controls?
 
Budgeting and reporting activities
17
Which of the following statements regarding competitive parity and competitive advantage is...
 
Some firms develop valuable, rare, and costly-to-imitate resource and capabilities in being...
18
The range of formal and informal mechanisms to ensure that managers are behaving in ways consistent...
 
management control systems
19
Inputs whose quantity is fixed and whose demand does not respond to price increases are said...
 
inelastic in supply
20
If LaserTech's new technological development were due to proprietary investments the company...
 
path dependence.
21
LaserTech's new technology appears to be
 
valuable, rare and costly to imitate
22
Resources that generate a temporary competitive advantage are
 
valuable and rare but not costly to imitate
23
If firms that do not possess resource or capabilities face a cost disadvantage in obtaining...
 
imperfectly imitable
24
In Porter's value chain model, which of the following activities would be considered a primary...
 
Inbound logistics
25
___ implies that for a given business activity, some firms may be more skilled in accomplishing...
 
Resource heterogeneity
26
___ in the RGV are defined as the tangible and intangible assets that a firm controls that...
 
Resources
27
The fact that it would be difficult and costly for firms to match Bates' capabilities in the...
 
imperfectly imitable
28
Which of the following statements regarding patents is accurate?
 
Patents may decrease, rather than increase, the costs of imitation.
29
To the extent that a firm's resources and capabilities enhance a firm's competitive position...
 
sustainable competitive advantages.
30
When tacit cooperation has the effect of reducing supply and increasing prices, it is known...
 
tacit collusion
31
If in the process of maximizing its performance, a firm engages in activities that pollute...
 
externality
32
Southwest Airlines' strong internal culture that helps ensure that employees act in ways consistent...
 
informal management control.
33
It would be costly for competitors to duplicate Bates due to
 
.
34
According to the research in strategic human resources management,
 
firms that are able to use human resource practices to develop socially complex human and organizational...
35
Firms that posess and exploit costly-to-imitate, rare and valuable resources in choosing and...
 
temporary competitive advantage
36
The inability of rivals to develop or acquire technology similar to that of LaserTech is an...
 
.
37
If a firm's resources and capabilities are costly to imitate because imitating firms may not...
 
causal ambiguity.
38
Firms implementing cost-leadership strategies will generally adopt a
 
functional organizational structure
39
Which of the following is less likely to be a rare source of cost advantage?
 
.
40
Sematech is pursuing which strategy?
 
.
41
In ___ structures, employees report to two or more people.
 
matrix
42
Given Sematech's business level strategy, which organizational structure is the most appropriate?
 
.
43
If Sematech were to continue seeking methods to maintain the company's cost-leadership position...
 
Securing differential access to low-cost productive inputs
44
___ focus(es) on the relationship between the volume of production and a given point in time...
 
Economies of scale; learning curve
45
According to the "two-thrids rule," it would cost a firm ___ to build a plant with a capacity...
 
100,000 raised to the 2/3 power
46
In order to create a cost advantage, the cost of acquiring low-cost productive inputs must...
 
less than
47
The only person in a functional organization to have a multifunctional perspective is the
 
CEO.
48
The link between volume of production and the cost of building manufacturing operations is...
 
process manufacturing.
49
Actions that firms take to gain competitive advantage in a single market or industry are known...
 
business-level strategies.
50
Choices that firms make about the kinds of products and services they will sell that impact...
 
policy choices.
51
Learning-curve-cost advantages are
 
not restricted to manufacturing.
52
Which of the following statements regarding the learning curve and economies of scale is accurate?
 
Where diseconomies of scale are presumed to exist if a firm gets too large, there is no corresponding...
53
Which of the following compensation policies is most likely to enhance a firm's ability to...
 
Awarding employees bonuses that are equal to 50% of the total cost savings achieved based on...
54
Cost-leadership and product-differentiation stratgeis are so widely recognized that they are...
 
generic business strategies.
55
___ are any supplies used by a firm in conducting its business activities.
 
Productive inputs
56
___ are said to exist when the increase in firm size (measured in terms of volume of production)...
 
Economies of scale
57
A firm that chooses a ___ focuses on gaining advantages by reducing its cost below all of its...
 
cost-leadership business strategy
58
Coach's agreement with Lexus to produce automobiles with Coach leather interior is an example...
 
co-branding
59
A ___ structure exists when individuals in a firm have two or more bosses simultaneously.
 
matrix
60
By increasing the perceived value of a firm's products or services, a firm will be able to...
 
charge a higher price than it would otherwise be able to do.
61
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