Question 1

​Maximizing opportunities and minimizing threats presented by the five forces provides some answers to which of the following questions?

Accepted Answer

A)   ​Why do firms differ?
B)   ​How do firms behave?
C)   ​What determines the scope of the firm?
D)   ​What determines the international success and failure of firms?E) All of the above
F) B) and D)

Question 2

​Which of the following questions is NOT essential to determining the scope of a firm?

Accepted Answer

A)   ​Can opportunities be leveraged by outsourcing?
B)   ​Have we optimized industry as destiny?
C)   ​Are we focused on core activities?
D)   ​Will collaboration with competitors be beneficial?E) C) and D)
F) A) and B)

Question 3

What are the "Three Generic Strategies," and what lessons can we learn from their use?

Accepted Answer

Porter suggested three generic strategie...

Question 4

Which is generally NOT true of differentiation?

Accepted Answer

A)   Inability to pass on suppliers' price increases to buyers.
B)   Relentless efforts of competitors to duplicate differentiation.
C)   Key areas of application include research and development,marketing/sales and after-sale services.
D)   It is a challenge to identify attributes that are valued by customers in each market segment.E) C) and D)
F) All of the above

Question 5

​Porter's three generic choices address how a firm is to make strategic choices in order to:

Accepted Answer

A)   ​Become an incumbent firm with excess capacity.
B)   ​Allow buyers to enhance their bargaining power.
C)   ​Strengthen the focal firm's position relative to the five competitive forces.
D)   ​Establish structures that increase the costs of entry and reduce the scale of production.E) B) and C)
F) C) and D)

Question 6

A key indicator of intense rivalry among firms is low cost competitive actions and reactions.

Accepted Answer

A) True 
 B)False

Question 7

An industry is defined as a group of firms producing goods and/or services that are similar to each other.

Accepted Answer

A) True 
 B)False

Question 8

One controversial issue with strategic groups is:

Accepted Answer

A)   Stability of strategic groups.
B)   Lack of mobility barriers between strategic groups.
C)   How easy it is to obtain large quantities of objective data.
D)   All of the above are controversial issues.E) All of the above
F) None of the above

Question 9

​Which of the following firms exhibits a cost leadership strategy?

Accepted Answer

A)   ​Company A's products meet customers' needs in several niche markets.
B)   ​Company B takes a low-volume high-margin approach in targeting customers for its products.
C)   ​Company C targets customers who are willing to pay a premium price.
D)   ​Company D targets the average customer.E) B) and D)
F) B) and C)

Question 10

One of the benefits of having a cost advantage is that it serves as barrier to entry.

Accepted Answer

A) True 
 B)False

Exam 2: Managing Industry Competition

Which of the following firms exhibits a cost leadership strategy?

Correct Answer
verified

Which is generally NOT true of differentiation?

Correct Answer
verified

One controversial issue with strategic groups is:

Correct Answer
verified

One of the benefits of having a cost advantage is that it serves as barrier to entry.

Correct Answer
verified

Maximizing opportunities and minimizing threats presented by the five forces provides some answers to which of the following questions?

Correct Answer
verified

Porter's three generic choices address how a firm is to make strategic choices in order to:

Correct Answer
verified

Which of the following questions is NOT essential to determining the scope of a firm?

Correct Answer
verified

A key indicator of intense rivalry among firms is low cost competitive actions and reactions.

Correct Answer
verified

An industry is defined as a group of firms producing goods and/or services that are similar to each other.

Correct Answer
verified

What are the "Three Generic Strategies," and what lessons can we learn from their use?

Correct Answer
verified
Porter suggested three generic strategie...
View Answer

Exam 2: Managing Industry Competition

​Which of the following firms exhibits a cost leadership strategy?

Correct AnswerverifiedShow Answer

Which is generally NOT true of differentiation?

Correct AnswerverifiedShow Answer

One controversial issue with strategic groups is:

Correct AnswerverifiedShow Answer

One of the benefits of having a cost advantage is that it serves as barrier to entry.

Correct AnswerverifiedShow Answer

​Maximizing opportunities and minimizing threats presented by the five forces provides some answers to which of the following questions?

Correct AnswerverifiedShow Answer

​Porter's three generic choices address how a firm is to make strategic choices in order to:

Correct AnswerverifiedShow Answer

​Which of the following questions is NOT essential to determining the scope of a firm?

Correct AnswerverifiedShow Answer

A key indicator of intense rivalry among firms is low cost competitive actions and reactions.

Correct AnswerverifiedShow Answer

An industry is defined as a group of firms producing goods and/or services that are similar to each other.

Correct AnswerverifiedShow Answer

What are the "Three Generic Strategies," and what lessons can we learn from their use?

Correct AnswerverifiedPorter suggested three generic strategie...View AnswerShow Answer

Which of the following firms exhibits a cost leadership strategy?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Maximizing opportunities and minimizing threats presented by the five forces provides some answers to which of the following questions?

Correct Answer
verified

Porter's three generic choices address how a firm is to make strategic choices in order to:

Correct Answer
verified

Which of the following questions is NOT essential to determining the scope of a firm?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Porter suggested three generic strategie...
View Answer