d Strategic Management (Chapters 1-4) d d d
d exam 1 with correct answers d d d d
All of the following are characteristic of the global economy EXCEPT - Correct Answer - the increased
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use of tariffs to protect industries
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The global economy, globalization, rapid technological change, and the increasing importance of
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knowledge are creating the need to - Correct Answer - delegate strategic responsibilities to
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employees "closer to the action."
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When resources and capabilities serve as a source of competitive advantage for a firm, the firm has
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created a(n) - Correct Answer - core competence.
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The I/O model is grounded in - Correct Answer - economics
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A ______ is an integrated and coordinated set of commitments and actions designed to exploit core
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competencies and gain a competitive advantage. - Correct Answer - strategy
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New markets created by iPods, PDAs, and Wi-Fi are a result of - Correct Answer - disruptive
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technologies
d
If Southwest Airlines is considering the consequences of videoconferencing on business travel, it is in
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dthe profit pool analysis step known as - Correct Answer - defining the pool's boundaries
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Analysis of the industry's profit pool enables strategic managers to - Correct Answer - locate the most
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promising areas of an industry's value chain.
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, Product market stakeholders include - Correct Answer - suppliers
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A firm's mission - Correct Answer - is a statement of a firm's business in which it intends to compete
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and the customers it intends to serve.
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It is important to emphasize that, primarily because they are related to how a firm interacts with its
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dstakeholders, almost all strategic management process decisions have - Correct Answer - ethical
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ddimensions
Strategic leaders, ______, often work long hours, and their work is filled with ambiguous decision
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situations. - Correct Answer - regardless of their location in the organization
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The primary drivers of hypercompetition are - Correct Answer - the emergence of a global economy
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and rapid technological change.
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______ innovation is a term used to describe how rapidly and consistently new, information-intensive
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technologies replace older ones. - Correct Answer - perpetual
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Firms use the five forces model to identify the ______ of the industry as measured by its - Correct
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Answer - attractiveness; profitability
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Firms use both the ______ and ______ models. In fact, these models complement each other in that
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one focuses outside the firm while the other focuses inside the firm. - Correct Answer - I/O; resource-
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based
Buyers are powerful when - Correct Answer - switching costs are low
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d exam 1 with correct answers d d d d
All of the following are characteristic of the global economy EXCEPT - Correct Answer - the increased
d d d d d d d d d d d d dd d d d
use of tariffs to protect industries
d d d d d d
The global economy, globalization, rapid technological change, and the increasing importance of
d d d d d d d d d d d
knowledge are creating the need to - Correct Answer - delegate strategic responsibilities to
d d d d d d d d dd d d d d d
employees "closer to the action."
d d d d d
When resources and capabilities serve as a source of competitive advantage for a firm, the firm has
d d d d d d d d d d d d d d d d
created a(n) - Correct Answer - core competence.
d d d d dd d d d
The I/O model is grounded in - Correct Answer - economics
d d d d d d d dd d d
A ______ is an integrated and coordinated set of commitments and actions designed to exploit core
d d d d d d d d d d d d d d d
competencies and gain a competitive advantage. - Correct Answer - strategy
d d d d d d d d dd d d
New markets created by iPods, PDAs, and Wi-Fi are a result of - Correct Answer - disruptive
d d d d d d d d d d d d d dd d d
technologies
d
If Southwest Airlines is considering the consequences of videoconferencing on business travel, it is in
d d d d d d d d d d d d d d
dthe profit pool analysis step known as - Correct Answer - defining the pool's boundaries
d d d d d d d d dd d d d d d
Analysis of the industry's profit pool enables strategic managers to - Correct Answer - locate the most
d d d d d d d d d d d dd d d d d
promising areas of an industry's value chain.
d d d d d d d
, Product market stakeholders include - Correct Answer - suppliers
d d d d d dd d d
A firm's mission - Correct Answer - is a statement of a firm's business in which it intends to compete
d d d d dd d d d d d d d d d d d d d d
and the customers it intends to serve.
d d d d d d d
It is important to emphasize that, primarily because they are related to how a firm interacts with its
d d d d d d d d d d d d d d d d d
dstakeholders, almost all strategic management process decisions have - Correct Answer - ethical
d d d d d d d d d dd d d
ddimensions
Strategic leaders, ______, often work long hours, and their work is filled with ambiguous decision
d d d d d d d d d d d d d d
situations. - Correct Answer - regardless of their location in the organization
d d d dd d d d d d d d d
The primary drivers of hypercompetition are - Correct Answer - the emergence of a global economy
d d d d d d d dd d d d d d d d
and rapid technological change.
d d d d
______ innovation is a term used to describe how rapidly and consistently new, information-intensive
d d d d d d d d d d d d d
technologies replace older ones. - Correct Answer - perpetual
d d d d d d dd d d
Firms use the five forces model to identify the ______ of the industry as measured by its - Correct
d d d d d d d d d d d d d d d d d d d
Answer - attractiveness; profitability
d d d d
Firms use both the ______ and ______ models. In fact, these models complement each other in that
d d d d d d d d d d d d d d d d
one focuses outside the firm while the other focuses inside the firm. - Correct Answer - I/O; resource-
d d d d d d d d d d d d d d dd d d d
based
Buyers are powerful when - Correct Answer - switching costs are low
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