Question 1

A challenger can gain a competitive market position to the extent that they can catch the leader unaware.

Accepted Answer

A) True 
 B)False

Question 2

What are the five types of revolutionary strategies that can introduce dynamic change into an industry?

Accepted Answer

The five types of revolutionary strategi...

Question 3

A graphical depiction of how a firm and major groups of its competitors are competing across its industry's factors of completion is referred to as the ________.

Accepted Answer

A)   four-actions framework
B)   value curve
C)   industry learning curve
D)   strategy life cycleE) A) and D)
F) C) and D)

Question 4

Competitive interaction theory suggests that ________.

Accepted Answer

A)   competitive actions will generate reactions
B)   competitors and suppliers must learn to cohesively interact
C)   competitive actions will always interact with industry conditions
D)   competitors must interact with each other to surviveE) A) and B)
F) A) and C)

Question 5

Name the three dimensions that cause dynamic contexts.

Accepted Answer

The three dimensions that caus...

Question 6

Change leaders are consistently able to do all of the following except ________.

Accepted Answer

A)   develop new technologies
B)   decrease the pace of product cycles
C)   raise industry standards
D)   develop new marketsE) None of the above
F) A) and D)

Question 7

What are the conditions under which first-mover advantages diminish and fast-follower advantages increase?

Accepted Answer

In short, first-mover advantages diminis...

Question 8

The ________ has not opened up new temporal and geographic accessibility for many businesses.

Accepted Answer

A)   Internet
B)   airline industry
C)   dry cleaning industry
D)   grocery store industryE) A) and B)
F) A) and C)

Question 9

Which of the following is a characteristic of new entrants' disruptive strategies?

Accepted Answer

A)   These firms emphasize product standardization.
B)   These firms start out as high-margin businesses.
C)   These new models are easily imitated.
D)   These firms can take away market share.E) A) and B)
F) None of the above

Question 10

Increasingly, competitive advantage results from the ability to manage change and harness the resources and capabilities consistent with ________ strategies.

Accepted Answer

A)   dynamic
B)   first- or second-mover
C)   late-mover
D)   revolutionaryE) A) and B)
F) A) and C)

Question 11

As part of the absorption strategy, an incumbent may try to leverage a buyout by taking control of industry distribution channels.

Accepted Answer

A) True 
 B)False

Question 12

A firm can redefine its arena by doing all but which of the following?

Accepted Answer

A)   imagining the total possible market rather than the served market
B)   changing the temporal or geographic availability
C)   diversify its products
D)   spearheading industry convergenceE) All of the above
F) None of the above

Question 13

To create new market space, companies must remain focused on their existing rivals and actively try to match what they are offering customers.

Accepted Answer

A) True 
 B)False

Question 14

Competitive actions generate a narrow range of predictable competitive responses.

Accepted Answer

A) True 
 B)False

Question 15

Why isn't the lag of second movers necessarily detrimental?

Accepted Answer

Being a second mover doesn't necessarily...

Question 16

Examples of industry convergence include all but which of the following?

Accepted Answer

A)   computing and entertainment
B)   airline and rail
C)   entertainment and communications
D)   wireless communications and photographyE) A) and B)
F) All of the above

Question 17

New-market creation emphasizes capabilities that ________.

Accepted Answer

A)   meet the competition head on
B)   consolidate the competition
C)   eliminate the competition
D)   eclipse the competitionE) All of the above
F) A) and D)

Question 18

All of the following may cause a turbulent environment except ________.

Accepted Answer

A)   short product life cycles
B)   long product design cycles
C)   new technologies
D)   incumbent repositioningE) A) and B)
F) A) and C)

Question 19

Which of the following is not a characteristic mindset of new-market creation?

Accepted Answer

A)   emphasizes substitutes across industries
B)   emphasizes redefinition of buyers' preferences
C)   looks across strategic groups and industry segments
D)   emphasizes efficient operation of the traditional business modelE) B) and D)
F) A) and B)

Question 20

Stable markets move at a much faster pace than dynamic markets.

Accepted Answer

A) True 
 B)False

Exam 6: Crafting Business Strategy of Dynamic Contexts

The ________ has not opened up new temporal and geographic accessibility for many businesses.

Correct AnswerverifiedShow Answer

New-market creation emphasizes capabilities that ________.

Correct AnswerverifiedShow Answer

Competitive interaction theory suggests that ________.

Correct AnswerverifiedShow Answer

What are the conditions under which first-mover advantages diminish and fast-follower advantages increase?

Correct AnswerverifiedIn short, first-mover advantages diminis...View AnswerShow Answer

A graphical depiction of how a firm and major groups of its competitors are competing across its industry's factors of completion is referred to as the ________.

Correct AnswerverifiedShow Answer

Change leaders are consistently able to do all of the following except ________.

Correct AnswerverifiedShow Answer

Stable markets move at a much faster pace than dynamic markets.

Correct AnswerverifiedShow Answer

Why isn't the lag of second movers necessarily detrimental?

Correct AnswerverifiedBeing a second mover doesn't necessarily...View AnswerShow Answer

Competitive actions generate a narrow range of predictable competitive responses.

Correct AnswerverifiedShow Answer

Name the three dimensions that cause dynamic contexts.

Correct AnswerverifiedThe three dimensions that caus...View AnswerShow Answer

A challenger can gain a competitive market position to the extent that they can catch the leader unaware.

Correct AnswerverifiedShow Answer

Which of the following is a characteristic of new entrants' disruptive strategies?

Correct AnswerverifiedShow Answer

A firm can redefine its arena by doing all but which of the following?

Correct AnswerverifiedShow Answer

What are the five types of revolutionary strategies that can introduce dynamic change into an industry?

Correct AnswerverifiedThe five types of revolutionary strategi...View AnswerShow Answer

As part of the absorption strategy, an incumbent may try to leverage a buyout by taking control of industry distribution channels.

Correct AnswerverifiedShow Answer

To create new market space, companies must remain focused on their existing rivals and actively try to match what they are offering customers.

Correct AnswerverifiedShow Answer

Which of the following is not a characteristic mindset of new-market creation?

Correct AnswerverifiedShow Answer

All of the following may cause a turbulent environment except ________.

Correct AnswerverifiedShow Answer

Examples of industry convergence include all but which of the following?

Correct AnswerverifiedShow Answer

Increasingly, competitive advantage results from the ability to manage change and harness the resources and capabilities consistent with ________ strategies.

Correct AnswerverifiedShow Answer

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In short, first-mover advantages diminis...
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Being a second mover doesn't necessarily...
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The three dimensions that caus...
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The five types of revolutionary strategi...
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