Question 1

What are the "five forces of industry competitive analysis" put forth by Porter? What effect has the Internet had on the bargaining power of buyers and sellers?

Accepted Answer

One of the most popular frameworks for e...

Question 2

A(n)  _____ is the symbolic embodiment of all the information connected with a product or service.

Accepted Answer

A)   trademark
B)   copyright
C)   patent
D)   brand
E)   advertisement

Question 3

A decision situation where one party has more or better information than its counterparty is called a(n) _____.

Accepted Answer

informatio...

Question 4

Which of the following represents one of the sources of switching costs?

Accepted Answer

A)   Marketing expenses
B)   Mergers and acquisitions
C)   Greenfield investments
D)   Search costs
E)   Obsolete technology

Question 5

_____ hold intellectual property not with the goal of bringing novel innovations to market but instead in hopes that they can sue or extort large settlements from others.

Accepted Answer

The answer of _____ hold intellectual property not with the...

Question 6

_____, also known as the Industry and Competitive Analysis, is a popular framework for examining a firm's competitive environment.

Accepted Answer

Porter's five forces

Question 7

When technology can be matched quickly, it is rarely a source of competitive advantage.

Accepted Answer

A) True 
 B)False

Question 8

Consumers buying commodities are highly _____ since they have so many similar choices.

Accepted Answer

A)   quality-conscious
B)   price-focused
C)   brand-driven
D)   technologically discriminating
E)   loyal

Question 9

A firm's financial performance that consistently outperforms its industry's peers is known as operational effectiveness.

Accepted Answer

A) True 
 B)False

Question 10

According to the resource-based view of competitive advantage, if a firm is to maintain a sustainable competitive advantage, it must control a set of resources that have four critical characteristics. Which of the following is one of those characteristics?

Accepted Answer

A)   Valuable
B)   Easily substitutable
C)   Perfectly imitable
D)   Commonly available
E)   Innovative

Question 11

Political shock and social changes can help alter the competitive landscape.

Accepted Answer

A) True 
 B)False

Question 12

_____ software is implemented in modules to automate the entire value chain.

Accepted Answer

Enterprise...

Question 13

List the various components of a value chain and give a brief description of each of them.

Accepted Answer

The value chain is the "set of activities through which a product or service is created and delivered to customers. There are five primary components of the value chain and four supporting components. The primary components are as follows:
Inbound logistics-getting needed materials and other inputs into the firm from suppliers
Operations-turning inputs into products or services
Outbound logistics-delivering products or services to consumers, distribution centers, retailers, or other partners
Marketing and sales-customer engagement, pricing, promotion, transaction
Support-service, maintenance, and customer support
The secondary components are:
Firm infrastructure-functions that support the whole firm, including general management, planning, IS, and finance
Human resource management-recruiting, hiring, training, and development
Technology / 
research and development-new product and process design
Procurement-sourcing and purchasing functions

Question 14

_____ Law is said to be at play when the value of a product or service increases as its number of users expands.

Accepted Answer

A)   Amdahl's
B)   Bradford's
C)   Campbell's
D)   Metcalfe's
E)   Einasto's D

Question 15

A firm's financial performance that consistently outperforms its industry's peers is known as _____.

Accepted Answer

A)   comparative advantage
B)   absolute advantage
C)   sustainable competitive advantage
D)   first mover advantage
E)   operational efficiency advantage

Question 16

In the United States, business models cannot be patented because the field of business is extremely dynamic.

Accepted Answer

A) True 
 B)False

Question 17

Moving first pays off when the time lead is used to create:

Accepted Answer

A)   the latest technology at a firm's production plant.
B)   operational effectiveness to harness maximum profitability.
C)   critical resources for competitive advantage.
D)   high stock value to generate funds for expansion.
E)   market entry to ensure sustainable competitive advantage.

Question 18

Which of the following represents one of the primary components of the value chain?

Accepted Answer

A)   Outbound logistics
B)   Firm infrastructure
C)   Human resource management
D)   Research and development
E)   Procurement

Question 19

Leveraging consumers to promote a product or service is known as _____.

Accepted Answer

A)   straddling
B)   affiliating
C)   long tailing
D)   crowdsourcing
E)   viral marketing

Question 20

Many telecom firms began digging up the ground and laying webs of fiberglass to meet the growing demand for Internet connectivity. However, rivals and startups began to imitate these firms and soon these new assets were not so rare and each day they seemed to be less valuable. It can be inferred from this example that:

Accepted Answer

A)   resource-based thinking can help avoid the trap of carelessly entering markets simply because growth is spotted.
B)   the telecommunications market is only big enough to support one or two major players.
C)   the immense scale advantages enjoyed by major firms can help them fight off competition from newer entrants.
D)   technology assets that require high investment and maintenance are liable to becoming obsolete much quicker than others.
E)   the scale of technology investment required to run a business is not a huge enough factor to act as a barrier to entry for new, smaller competitors.

Exam 2: Strategy and Technology: Concepts and Frameworks for Understanding What Separates Winners From Losers

What are the "five forces of industry competitive analysis" put forth by Porter? What effect has the Internet had on the bargaining power of buyers and sellers?

Correct Answer
verified
One of the most popular frameworks for e...
View Answer

A(n) _____ is the symbolic embodiment of all the information connected with a product or service.

Correct Answer
verified

A decision situation where one party has more or better information than its counterparty is called a(n) _____.

Correct Answer
verified
informatio...
View Answer

Which of the following represents one of the sources of switching costs?

Correct Answer
verified

_____ hold intellectual property not with the goal of bringing novel innovations to market but instead in hopes that they can sue or extort large settlements from others.

Correct Answer
verified

_____, also known as the Industry and Competitive Analysis, is a popular framework for examining a firm's competitive environment.

Correct Answer
verified
Porter's five forces

When technology can be matched quickly, it is rarely a source of competitive advantage.

Correct Answer
verified

Consumers buying commodities are highly _____ since they have so many similar choices.

Correct Answer
verified

A firm's financial performance that consistently outperforms its industry's peers is known as operational effectiveness.

Correct Answer
verified

According to the resource-based view of competitive advantage, if a firm is to maintain a sustainable competitive advantage, it must control a set of resources that have four critical characteristics. Which of the following is one of those characteristics?

Correct Answer
verified

Political shock and social changes can help alter the competitive landscape.

Correct Answer
verified

_____ software is implemented in modules to automate the entire value chain.

Correct Answer
verified
Enterprise...
View Answer

List the various components of a value chain and give a brief description of each of them.

_____ Law is said to be at play when the value of a product or service increases as its number of users expands.

Correct Answer
verified
D

A firm's financial performance that consistently outperforms its industry's peers is known as _____.

Correct Answer
verified

In the United States, business models cannot be patented because the field of business is extremely dynamic.

Correct Answer
verified

Moving first pays off when the time lead is used to create:

Correct Answer
verified

Which of the following represents one of the primary components of the value chain?

Correct Answer
verified

Leveraging consumers to promote a product or service is known as _____.

Correct Answer
verified

Correct Answer
verified

Exam 2: Strategy and Technology: Concepts and Frameworks for Understanding What Separates Winners From Losers

What are the "five forces of industry competitive analysis" put forth by Porter? What effect has the Internet had on the bargaining power of buyers and sellers?

Correct AnswerverifiedOne of the most popular frameworks for e...View AnswerShow Answer

A(n) _____ is the symbolic embodiment of all the information connected with a product or service.

Correct AnswerverifiedShow Answer

A decision situation where one party has more or better information than its counterparty is called a(n) _____.

Correct Answerverifiedinformatio...View AnswerShow Answer

Which of the following represents one of the sources of switching costs?

Correct AnswerverifiedShow Answer

_____ hold intellectual property not with the goal of bringing novel innovations to market but instead in hopes that they can sue or extort large settlements from others.

Correct AnswerverifiedShow Answer

_____, also known as the Industry and Competitive Analysis, is a popular framework for examining a firm's competitive environment.

Correct AnswerverifiedPorter's five forces

When technology can be matched quickly, it is rarely a source of competitive advantage.

Correct AnswerverifiedShow Answer

Consumers buying commodities are highly _____ since they have so many similar choices.

Correct AnswerverifiedShow Answer

A firm's financial performance that consistently outperforms its industry's peers is known as operational effectiveness.

Correct AnswerverifiedShow Answer

According to the resource-based view of competitive advantage, if a firm is to maintain a sustainable competitive advantage, it must control a set of resources that have four critical characteristics. Which of the following is one of those characteristics?

Correct AnswerverifiedShow Answer

Political shock and social changes can help alter the competitive landscape.

Correct AnswerverifiedShow Answer

_____ software is implemented in modules to automate the entire value chain.

Correct AnswerverifiedEnterprise...View AnswerShow Answer

List the various components of a value chain and give a brief description of each of them.

_____ Law is said to be at play when the value of a product or service increases as its number of users expands.

Correct AnswerverifiedD

A firm's financial performance that consistently outperforms its industry's peers is known as _____.

Correct AnswerverifiedShow Answer

In the United States, business models cannot be patented because the field of business is extremely dynamic.

Correct AnswerverifiedShow Answer

Moving first pays off when the time lead is used to create:

Correct AnswerverifiedShow Answer

Which of the following represents one of the primary components of the value chain?

Correct AnswerverifiedShow Answer

Leveraging consumers to promote a product or service is known as _____.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified
One of the most popular frameworks for e...
View Answer

Correct Answer
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Correct Answer
verified
informatio...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Porter's five forces

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Enterprise...
View Answer

Correct Answer
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D

Correct Answer
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