WPC 480 – FINAL EXAM WITH COMPLETE
SOLUTION(LATEST 2021 GRADED A+)Combined
exams all finals Over 1000 Questions And Correct Answers
Firms operating in the same market, offering similar products and targeting
similar customers are competitors.
a. True
b. False
True
Competitive rivalry is the contest to be the first mover in an international market.
a. True
b. False
False
Competitive rivalry is the set of competitive actions and responses that occur
among firms as they maneuver for an advantageous market position.
a. True
b. False
True
"Competitive dynamics" indicates that firms and their strategic actions are
independent.
a. True
b. False
False
A strategy's success is determined not only by the firm's initial competitive
actions but also by how well it anticipates competitors' responses to them and by
how well the firm anticipates and responds to its competitors initial actions.
a. True
b. False
True
Firms with high market commonality and highly similar resources are direct and
mutually acknowledged competitors.
a. True
b. False
True
Market commonality is concerned with the number of markets with which the firm
and a competitor are jointly involved and the degree of importance of the
individual markets to each.
,a. True
b. False
True
Coca Cola and PepsiCo compete across a number of products (e.g., soft drinks,
bottled water) and geographic markets (U.S. and foreign markets) indicating that
both companies have market commonality.
a. True
b. False
True
Research suggests that a firm with greater multimarket contact is less likely to
initiate an attack, but more likely to respond aggressively when attacked.
a. True
b. False
True
Extensive market commonality guarantees intense competition in an industry.
a. True
b. False
False
Bayou Belle Water markets water drawn only from a single artesian well in
Southern Louisiana. It has a loyal following in its region. Since Bayou Belle
markets the water, just as Coca-Cola, Nestle, and PepsiCo do, Bayou Belle has
high resource similarity with these international firms.
a. True
b. False
False
Two firms, such as Fed Ex and UPS that have similar resources and common
markets would be direct and mutually acknowledged competitors.
a. True
b. False
True
Two firms, such as a small local, family-owned Italian restaurant and Olive
Garden share few markets and have little similarity in resources, but are
nonetheless direct and mutually acknowledged competitors.
a. True
b. False
False
Awareness tends to be greatest when firms have highly similar resources and
compete in multiple markets.
,a. True
b. False
True
Under the framework of competitive action and response, "ability" refers to an
attacking or responding firm's knowledge of the competitive market
characteristics.
a. True
b. False
False
Walmart has recently opened a store in Alsatia, Missouri. Several local small
retailers have decided that choosing not to respond to Walmart's competitive
actions is a viable long-term option, because although the companies have high
market commonality they have little resource similarity. These small retailers are
correct in their decision.
a. True
b. False
False
A tactical competitive action involves a significant commitment of specific and
distinctive organizational resources.
a. True
b. False
False
Boeing's decision to commit the resources required to build the super-efficient
787 midsized jetliner is an example of a tactical action.
a. True
b. False
False
Walmart's aggressive pricing strategy is a strategic action that plays a major role
in how it competes.
a. True
b. False
False
First movers can gain a sustained competitive advantage when they reduce their
costs through reverse engineering.
a. True
b. False
False
To be a first mover, the firm must have readily available resources to invest in
R&D as well as to rapidly and successfully produce and market a stream of
innovative products.
, a. True
b. False
True
An organization with high profitability, such as Walmart, will be able to develop
high organizational slack.
a. True
b. False
True
Mighty Mike's, a manufacturer of power tools for the home hobbyist, has seen its
main competitor, MyTools, bring out a line of power tools that are smaller sized,
lighter weight, and suitable for women and older hobbyists who have weaker
hands than the typical male workshop hobbyist. Mighty Mike is waiting to see
whether MyTool's new line
is a success. Mighty Mike could be classified as a second mover.
a. True
b. False
True
Firms that are typically late movers usually have little organizational slack.
a. True
b. False
True
. Large firms with significant slack resources (i.e., are able to launch a greater
number of competitive actions) but who remain flexible and act like small firms
(i.e., are able to launch a variety of actions) will be more successful against rivals.
a. True
b. False
True
The need for quality products and services is so high that quality alone can
assure a firm that it will achieve strategic competitiveness and earn above-
average returns.
a. True
b. False
False
Quality begins at the bottom of the organization where employees must create
values for quality that permeate the entire organization.
a. True
b. False
False
SOLUTION(LATEST 2021 GRADED A+)Combined
exams all finals Over 1000 Questions And Correct Answers
Firms operating in the same market, offering similar products and targeting
similar customers are competitors.
a. True
b. False
True
Competitive rivalry is the contest to be the first mover in an international market.
a. True
b. False
False
Competitive rivalry is the set of competitive actions and responses that occur
among firms as they maneuver for an advantageous market position.
a. True
b. False
True
"Competitive dynamics" indicates that firms and their strategic actions are
independent.
a. True
b. False
False
A strategy's success is determined not only by the firm's initial competitive
actions but also by how well it anticipates competitors' responses to them and by
how well the firm anticipates and responds to its competitors initial actions.
a. True
b. False
True
Firms with high market commonality and highly similar resources are direct and
mutually acknowledged competitors.
a. True
b. False
True
Market commonality is concerned with the number of markets with which the firm
and a competitor are jointly involved and the degree of importance of the
individual markets to each.
,a. True
b. False
True
Coca Cola and PepsiCo compete across a number of products (e.g., soft drinks,
bottled water) and geographic markets (U.S. and foreign markets) indicating that
both companies have market commonality.
a. True
b. False
True
Research suggests that a firm with greater multimarket contact is less likely to
initiate an attack, but more likely to respond aggressively when attacked.
a. True
b. False
True
Extensive market commonality guarantees intense competition in an industry.
a. True
b. False
False
Bayou Belle Water markets water drawn only from a single artesian well in
Southern Louisiana. It has a loyal following in its region. Since Bayou Belle
markets the water, just as Coca-Cola, Nestle, and PepsiCo do, Bayou Belle has
high resource similarity with these international firms.
a. True
b. False
False
Two firms, such as Fed Ex and UPS that have similar resources and common
markets would be direct and mutually acknowledged competitors.
a. True
b. False
True
Two firms, such as a small local, family-owned Italian restaurant and Olive
Garden share few markets and have little similarity in resources, but are
nonetheless direct and mutually acknowledged competitors.
a. True
b. False
False
Awareness tends to be greatest when firms have highly similar resources and
compete in multiple markets.
,a. True
b. False
True
Under the framework of competitive action and response, "ability" refers to an
attacking or responding firm's knowledge of the competitive market
characteristics.
a. True
b. False
False
Walmart has recently opened a store in Alsatia, Missouri. Several local small
retailers have decided that choosing not to respond to Walmart's competitive
actions is a viable long-term option, because although the companies have high
market commonality they have little resource similarity. These small retailers are
correct in their decision.
a. True
b. False
False
A tactical competitive action involves a significant commitment of specific and
distinctive organizational resources.
a. True
b. False
False
Boeing's decision to commit the resources required to build the super-efficient
787 midsized jetliner is an example of a tactical action.
a. True
b. False
False
Walmart's aggressive pricing strategy is a strategic action that plays a major role
in how it competes.
a. True
b. False
False
First movers can gain a sustained competitive advantage when they reduce their
costs through reverse engineering.
a. True
b. False
False
To be a first mover, the firm must have readily available resources to invest in
R&D as well as to rapidly and successfully produce and market a stream of
innovative products.
, a. True
b. False
True
An organization with high profitability, such as Walmart, will be able to develop
high organizational slack.
a. True
b. False
True
Mighty Mike's, a manufacturer of power tools for the home hobbyist, has seen its
main competitor, MyTools, bring out a line of power tools that are smaller sized,
lighter weight, and suitable for women and older hobbyists who have weaker
hands than the typical male workshop hobbyist. Mighty Mike is waiting to see
whether MyTool's new line
is a success. Mighty Mike could be classified as a second mover.
a. True
b. False
True
Firms that are typically late movers usually have little organizational slack.
a. True
b. False
True
. Large firms with significant slack resources (i.e., are able to launch a greater
number of competitive actions) but who remain flexible and act like small firms
(i.e., are able to launch a variety of actions) will be more successful against rivals.
a. True
b. False
True
The need for quality products and services is so high that quality alone can
assure a firm that it will achieve strategic competitiveness and earn above-
average returns.
a. True
b. False
False
Quality begins at the bottom of the organization where employees must create
values for quality that permeate the entire organization.
a. True
b. False
False
