Competitive Strategy
Final Exam Questions
Course Introduction
Competitive Strategy examines the frameworks, tools, and analytical approaches that organizations use to achieve and sustain competitive advantage in dynamic markets. Through the study of industry structure, positioning, and differentiation, students learn to assess competitors, anticipate market shifts, and formulate strategies that enhance organizational performance. The course combines theoretical concepts with practical case studies, enabling participants to critically evaluate real-world business scenarios and develop strategic recommendations. By the end of the course, students will be equipped with the skills to make informed strategic decisions and drive long-term success in competitive environments.
Recommended Textbook
Strategic Management Concepts BRV 1st Edition by
Available Study Resources on Quizplus
14 Chapters
700 Verified Questions
700 Flashcards
Source URL: https://quizplus.com/study-set/467
Page 2
Jeffrey H. Dyer
Chapter 1: What Is Business Strategy?
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8367
Sample Questions
Q1) Summer Inc., a departmental store, wants to provide better service to its customers.This includes providing expertise in each type of product and brand.In order to accomplish this, the general manager of the store suggests that they should begin by identifying the different types of customers.By classifying customers, into various groups, such as mothers, athletes, tech-savvy customers and so on,, the store's customer care personnel can specialize on detailed product information.With the help of this classification, the store is able to provide better service to each customers by offering more brands to choose from.This scenario best illustrates _____.
A) segmentation analysis
B) group allocation
C) group dynamics
D) division dynamics
Answer: A
Q2) Which of the following is an example of a resource?
A) An overdue
B) A mission
C) A patent
D) A goal
Answer: C
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Analysis of the External Environment: Opportunities and Threats
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8368
Sample Questions
Q1) In what way are switching costs a fundamental part of not just rivalry but also the force of new entrants?
Answer: If buyers can easily switch to new companies attempting to enter the industry, there is a greater threat of new entrants.
Q2) How do switching costs affect industry rivalry?
Answer: The lower the switching costs, the easier it is for competitors to poach customers, thereby increasing industry rivalry.
Q3) WillowWorks LLC, a retail clothing store, has been sourcing its raw materials from a supplier named ThreadTym Corp.for the last five years.A change of management at ThreadTym resulted in an increase of the prices of the raw materials.As a result, WillowWorks purchases ThreadTym so that it can produce these products on its own.This scenario best illustrates _____.
A) network effect
B) forward integration
C) backward integration
D) switching cost
Answer: C
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: Internal Analysis: Strengths, Weaknesses, and Competitive Advantage
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8366
Sample Questions
Q1) A visual description of the steps required to turn raw materials into finished products and/or services most accurately defines the term _____.
A) virtuous circle
B) culture chain
C) value chain
D) product line
Answer: C
Q2) The management at WonderPlanners Inc.wants to improve their production and operating capabilities by adopting a leaner process.As such, the employees of WonderPlanners are asked to eliminate the excess use of efforts and materials.WonderPlanners Inc.finally manages to achieve a competitive advantage after its employees follow these new practices repeatedly over time.From the information given in this scenario, we can infer that WonderPlanners Inc.has developed _____.
A) competitive parity
B) dynamic capabilities
C) service inimitability
D) network externalities
Answer: B
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Cost Advantage
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8369
Sample Questions
Q1) A group of students studying a firm named Sanders & Collins Corp.found that the workers initially learned their task-related activities very fast.In turn, this helped the firm reduce the labor cost incurred in producing each product.However, their rate of learning these tasks reduced over time.This scenario best illustrates the _____.
A) experience curve
B) learning curve
C) value curve
D) scale curve
Q2) Which of the following is a primary characteristic of employing automated equipment in a company with high levels of production?
A) They help employees to acquire specialized knowledge that helps them complete tasks more efficiently.
B) The general and administrative costs would be high for large companies.
C) They do not help in spreading out the fixed cost of production.
D) Large companies can reduce per-unit cost of production.
Q3) Define economies of scale and list out its four principle sources.
Q4) Explain why a learning curve is more complex than a scale curve.
Q5) Explain proprietary knowledge and its important sources.
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Differentiation Advantage
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8370
Sample Questions
Q1) Define mass customization and explain what companies must do in order for this method to be successful.
Q2) Juan, the manager of Pvari, a chain of jewelry stores, claims that mass customization is the best way to create value for their products.Nate, the senior designer, believes that every product must be customized from the pre-production stage.Which of the following statements will strengthen Juan's claim?
A) Designers feel their creative skills will be underutilized in mass production.
B) The production costs will reduce to half if products are made in large scale.
C) Customers love the idea of designing their own jewelry from scratch.
D) Their clientele includes a niche group that prefers highly customized products.
Q3) _____ occur(s) when some products or services are more convenient to use because there is a large network of other users.
A) Network ethics
B) Network effects
C) Network latency
D) Network virtualization
Q4) _____ is grouping customers based on similar needs.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Corporate Strategy
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8371
Sample Questions
Q1) The search for competitive advantage within a single industry, market, or line of business best defines the term _____.
A) complementary service strategy
B) corporate strategy
C) business unit strategy
D) cost advantage strategy
Q2) Pluto Corp.has been manufacturing hardware materials for its existing customer base for several years.Recently, the company introduced a new line of electronic products to its customers.Pluto Corp.is engaging in _____.
A) vertical integration
B) market penetration
C) value based initiative
D) horizontal diversification
Q3) How does diversification help exploit existing customer-facing resources?
Q4) Mention the factors that lead to destroying value through diversification.Explain any three of them.
Q5) What does the term adjacent market mean?
Q6) What are the mechanisms that help companies in exploiting and/or expanding their resources and capabilities?
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Vertical Integration and Outsourcing
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8372
Sample Questions
Q1) In the context of vertical integration, when is flexibility most valuable?
Q2) Teal Motors Inc., an automobile company, outsources the manufacturing of most of the automobile parts to several other companies that specialize in making parts such as ignition boxes, coil wires, and grills.Teal Motors makes sure to get these parts manufactured at a much lesser rate than it would if it manufactures its own parts.In this scenario, Teal Motors Inc.is effectively avoiding a _____.
A) loss of identity
B) loss of frequency
C) loss of facility
D) loss of focus
Q3) The chief executive officer (CEO) of Ecos Inc., a well-established firm in the real estate industry states that the firm has the resources to outperform its competitors.In the context of reasons for vertical integration, the CEO is referring to the firm's _____.
A) control
B) priorities
C) capabilities
D) coordination
Q4) In the context of coordination, what is modular interdependence?
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 8: Strategic Alliances
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8373
Sample Questions
Q1) Two organizations that are positioned at different stages along the value chain form an alliance.The contract includes the conditions under which the contract will be closed and the consequences of closure for each partner.Which of the following clauses specifies the above conditions?
A) Preemption rights clauses
B) Voting rights clauses
C) Termination clauses
D) Noncompete clauses
Q2) Crimson Corp., a painting unit, collaborates with a car manufacturing company.They sign a contract that specifies the tasks of each party in alliance.Which of the following is being exemplified in this scenario?
A) A nonequity alliance
B) An equity alliance
C) A coordination alliance
D) A vertical alliance
Q3) What are the different types of nonequity alliances?
Q4) What are the four kinds of inputs and activities that might qualify as strategic inputs, which merit forming an alliance relationship? Explain the four inputs with suitable examples.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: International Strategy
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8374
Sample
Questions
Q1) Trosome Petroleum Corp.opens new plants in Sopintry.In order to gain economies of scale, it centralizes its products and operations.Decisions regarding operations in Sopintry are made at the central headquarters.Which of the following primary strategies is used by the company to do business internationally?
A) A multidomestic strategy
B) A global strategy
C) An arbitrage strategy
D) A local responsiveness strategy
Q2) Vactin Motors, an automobile company, is a well-recognized brand.It does not have the capital and capabilities to set up manufacturing units abroad, although it is keen to have its products made in the foreign market.It decides to have the products produced and sold under its brand name.In this case, which of the following modes of international market entry should be adopted by Vactin?
A) Exporting
B) Franchising
C) Joint venture
D) Wholly owned subsidiaries
Q3) _____ distance is usually measured as per capita gross domestic product.
Q4) The spread of businesses across national borders is called _____.
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Innovative Strategies That Change the Nature of Competition
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8375
Sample Questions
Q1) Jobs Now is an employment website.Like its competitors, it offers free listings in every category, which is free for job seekers but not for companies.This feature of Jobs Now is an example of _____.
A) a blue ocean strategy
B) a mass-customization strategy
C) a standardization model
D) a revenue model
Q2) A software firm decides to offer its products at a lower price.In order to reduce costs, it outsources some of its in-house functions to countries that offer less expensive labor.As a result, it gains a cost advantage.The strategy adopted by this firm is an example of _____.
A) disintermediation
B) low-end disruptive innovations
C) free business models
D) high-end disruptive innovations
Q3) A(n) _____ describes the creation of a unique or novel concept, method or process that is often turned into a tangible outcome.
Q4) Creating new demand in an uncontested market space is called the _____.
Q5) _____ coined the term hypercompetition.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Competitive Strategy
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8376
Sample Questions
Q1) A manufacturing firm maintains its price unless it observes its rival choosing to lower price.Any time the rival lowers price, the firm responds by lowering its own price.This is an example of a _____.
A) structural analysis
B) tit-for-tat strategy
C) strategic canvas
D) complementary game
Q2) Lieme Inc.and Pola Inc.are oligopolistic rivals in the automobile industry.Lieme has staked out a price position that is slightly higher than that of Pola.Even so, if Pola raises its price, Lieme would too, in order to maintain the differential.Which of the following is being exemplified in this case?
A) Implementing an entry barrier
B) Limiting competitive access to scarce resources
C) Introducing new products frequently
D) Monitoring and mimicking rival behaviour
Q3) Any factor that increases the costs, lowers the profit margins, or limits the market share of entrants to a market is called a(n) _____.
Q4) Briefly describe the game theory.
Q5) Briefly describe the Nash equilibrium.
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Implementing Strategy
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8377
Sample Questions
Q1) Noel, the CEO of a firm operating in the electronics industry, wants to change the environmental trends, store keeping facilities, and distribution strategy by creating a new plan for the production plant immediately.This need for change can be achieved by
A) generating urgency
B) building a guiding coalition
C) creating a response profile
D) refreezing
Q2) Rimezine Inc., a pharmaceutical company, incurred losses in the current quarter due to low customer demand.It recognized and publicly admitted that the current strategies of the company are not producing acceptable results.The company is in the _____ phase of organizational change.
A) unfreezing
B) hard triangle
C) soft square
D) changing
Q3) What are the eight steps to successful change?
Q4) What are the three phases of changes?
Q5) Write a note on the principle of line of sight.
Q6) Explain the hard triangle and soft square in the 7 S model.
Page 14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 13: Corporate Governance and Ethics
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8378
Sample Questions
Q1) Antonia owns and runs a bakery in her neighborhood.She is the only person responsible for the liabilities of her bakery.Her bakery is an example of a(n) _____.
A) individual proprietorship
B) corporation
C) partnership
D) joint venture
Q2) Javier is the shareholder of a cellphone manufacturing company.Which of the following statements about him is true?
A) He does not have any claim to the residual earnings of the company.
B) He is the only person entitled to receive the profits of the company.
C) He is protected from being taken advantage of by the management team due to his oversight rights.
D) He is not able to exchange money with the corporation without a clearly specified payment in return.
Q3) Explain with examples how the engagement of a company with its key stakeholders can affect its overall performance and competitive advantage.
Q4) Explain the difference between the shareholder primacy model and the stakeholder model.
To view all questions and flashcards with answers, click on the resource link above.
Page 15
Chapter 14: Strategy and Society
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/8379
Sample Questions
Q1) _____ refers to a social entrepreneur who creates something new through the combination of diverse and different elements.
Q2) Which of the following statements best defines philanthropy?
A) It involves creating new social systems to create large-scale change.
B) It involves acting in a way that promotes the good or well-being of others in the form of a gift.
C) It involves creating something by combining diverse and different elements into a new setting.
D) It involves transferring the ability to effectively perform tasks from one organization to another.
Q3) _____entails transferring the ability to effectively perform tasks from one organization to another.
Q4) Discuss the four roles played by stakeholders in the value net.
Q5) _____ refers to the simultaneous creation of economic value and social value for the larger community in which a business operates.
Q6) The ability of an organization to consistently gather resources from, or provide services to, key stakeholders such as donors, volunteers, students, or clients is referred to as _____.
To view all questions and flashcards with answers, click on the resource link above. Page 16