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Exam 5: Business-Level Strategy: Creating Andsustaining Competitive Advantages

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Question 51

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Primary value chain activities that involve the effective layout of receiving dock operations (inbound logistics) and support value chain activities that include expertise in process engineering (technology development) characterize what generic strategy?

A) differentiation
B) differentiation focus
C) overall cost leadership
D) stuck-in-the-middle

E) None of the above
F) A) and D)

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Question 52

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Which of these statements regarding the industry life cycle is correct?

A) Part of the power of the market life cycle is its ability to serve as a short-run forecasting device.
B) Trends suggested by the market life cycle model are generally not reversible or repeatable.
C) It points out the need to maintain a differentiation advantage and a low cost advantage simultaneously.
D) It has important implications for company generic strategies, functional areas, value-creating activities, and overall objectives.

E) A) and B)
F) A) and C)

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Question 53

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Explain how a cost leadership strategy permits a firm to address the five forces in its competitive environment so that it can enjoy higher-than-normal profits.

A firm can achieve differentiation through all of the following means EXCEPT ________.

Most analysts agree that use of the Internet will lower transaction costs.

Discuss how a competitive advantage can be attained through differentiation using the value chain concept.

If a firm has a successful differentiation strategy,it is necessary to attain parity on cost.

As markets mature,competition on the basis of differentiation is preferable to price competition.

In the __________ stage of the industry life cycle,there are few segments,the emphasis on process design is low,and the major functional areas of concern are general management and finance.

Explain what factors determine the sustainability of company competitive advantage and provide an example of this in action.

Atlas Door created competitive advantage by reducing the time to receive and process and order and through installing a just in time logistics operation.Which of the following is not a reason for their favorable position relative to the five forces of industry competition?

Piecemeal productivity improvements during a turnaround typically do NOT involve _______.

Support value chain activities that involve excellent applications engineering support (technology development) and facilities that promote a positive firm image (firm infrastructure) characterize what generic strategy?

A firm following a focus strategy must focus on _____________.

Research shows that which of the following is not a strategy used by firms engaged in successful turnarounds?

Incumbent firms that thought a niche market was too small to enter in the past may use Internet technologies to enter that segment with focusers.

Which of the following is not a potential pitfall of an integrated overall low cost and differentiation strategy?

The French automobile maker,Renault,attains competitive advantage by revamping cars to be more cost efficient.

The three generic strategies that Michael Porter believes a firm can use to overcome the five forces and achieve competitive advantage include overall price leadership.

The experience curve concept suggests that production costs tend to decrease as production increases.