Mgt 195 Hk1 Business Policy and Strategy Midterm Exam

MGT 195 HK1 Business Policy And Strategy Midterm Exam

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MGT 195 HK1 Business Policy And Strategy Midterm Exam

Question 1

In the __________ stage of the industry life cycle, there are many segments, competition is very intense, and the emphasis on process design is high.

Introduction

Growth

Maturity

Decline

Question 2

One aspect of using a cost leadership strategy is that experience effects may lead to lower costs. Experience effects are achieved by:

Hiring more experienced personnel

Repeating a process until a task becomes easier

Spreading out a given expense or investment over a greater volume

Competing in an industry a long time

Question 3

In the __________ stage of the industry life cycle, the emphasis on product design is very high, the intensity of competition is low, and the market growth rate is low.

Introduction

Growth

Maturity

Decline

Question 4

One of the reasons the Internet is eroding sustainable competitive advantages is:

Incumbent firms are entering market segments that they previously considered to be too small

Nearly all competitors will have greater access to tools for managing costs making it hard for any one to achieve an advantage

Differentiators have been able to preserve the unique advantages that have always been the hallmark of their success

Firms are ignoring opportunities to offer high-end services in niche markets

Question 5

The text discusses three approaches to combining overall cost leadership and differentiation competitive advantages. These are the following except:

Automated and flexible manufacturing systems

Exploiting the profit pool concept for competitive advantage

Coordinating the “extended” value chain by way of information technology

Deriving benefits from highly focused and high technology markets

Question 6

A differentiation strategy enables a business to address the...