Competitive Strategy
Question Bank
Course Introduction
Competitive Strategy explores the frameworks and tools companies use to achieve and sustain competitive advantage in dynamic markets. The course examines classic and contemporary theories of competition, including industry analysis, positioning, resource-based views, and game theory. Through case studies and practical exercises, students learn to analyze the competitive environment, anticipate rivals moves, formulate effective business strategies, and make informed strategic decisions. Emphasis is placed on understanding how organizations can differentiate themselves, respond to changing market conditions, and create long-term value in both established and emerging industries.
Recommended Textbook
Strategic Management Text and Cases 6th Edition by Gregory Dess
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12 Chapters
1213 Verified Questions
1213 Flashcards
Source URL: https://quizplus.com/study-set/207
Page 2
Chapter 1: Strategic Management Creating Competitive Advantages
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101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/3021
Sample Questions
Q1) An organization is responsible to many different entities. In order to meet the demands of these groups, organizations must participate in stakeholder management. Stakeholder management means that
A) interests of the stockholders are not the only interests that matter.
B) stakeholders are second in importance to the stockholders.
C) stakeholders and managers inevitably work at cross-purposes.
D) all stakeholders receive financial rewards.
Answer: A
Q2) The text addresses two perspectives of leadership as well as their implications. These two perspectives are
A) romantic and unromantic.
B) romantic and internal control.
C) external control and unromantic.
D) romantic and external control.
Answer: D
Q3) An idealistic vision can arouse employee enthusiasm and therefore is a good vision.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Analyzing the External Environment of the Firm
Creating Competitive Advantages
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/3022
Sample Questions
Q1) Environmental monitoring deals with tracking changes in environmental trends that are often uncovered during the environmental scanning process.
A)True
B)False
Answer: True
Q2) The Dodd-Frank Wall Street Reform and Consumer Protection Act require companies to disclose whether any tin, tantalum, tungsten or gold in their supply chain is connected to violent militia groups in the Congo or nine surrounding countries, including Angola, Rwanda, and Sudan. This is an example of which segment of the general environment?
A) economic
B) sociocultural
C) political and legal
D) demographic
Answer: C
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Chapter 3: Assessing the Internal Environment of the Firm
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/3023
Sample Questions
Q1) A wide variety of firm resources that are costly to imitate due to the social engineering that is required being beyond the capability of competitors include interpersonal relations amongmanagers in the firm, its culture, and its reputation with its suppliers and customers. Such competitive advantages are based upon
A) path dependency.
B) social complexity.
C) physical uniqueness.
D) tangible resources.
Answer: B
Q2) The balanced scorecard provides top managers with a ________ view of the business.
A) detailed and complex
B) simple and routine
C) fast but comprehensive
D) long-term financial
Answer: C
Q3) Capabilities that exhibit causal ambiguity are difficult to imitate.
A)True
B)False
Answer: True
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Chapter 4: Recognizing a Firm's Intellectual Assets Moving
beyond a Firm's Tangible Resources
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Which of the following reasons explains why painter Vincent van Gogh died penniless, while painter Pablo Picasso left a 740 million USD estate upon his death?
A) Van Gogh had a wider range of social connections.
B) Picasso had a wider range of social connections and bridging relationships.
C) Picasso was a solitary node with few connections.
D) Van Gogh was a hub who embedded himself in a vast network that stretched across various social lines.
Q2) One potential downside of building social capital in an organization is groupthink. This means everyone in the group thinks on his or her own and comes up with new ideas.
A)True
B)False
Q3) If financial rewards are a vital organizational control mechanism (whether in the form of salary, bonus, stock options or the like), why is paying people more seldom the most important factor in attracting and retaining human capital?
Q4) Why does employee turnover matter to a company? What are some of the reasons why employees leave and what might entice the desirable potential boomerang employee to return?
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Chapter 5: Business-Level Strategy Creating and Sustaining Competitive Advantages
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105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/3025
Sample Questions
Q1) The growth stage of the industry life cycle is characterized by A) in-kind competition (from the same type of product).
B) premium pricing.
C) a growing trend to compete on the basis of price.
D) retaliation by competitors whose customers are stolen.
Q2) If the overall cost leadership strategy is to provide sustainable competitive advantage, all activities in the value-chain need to be evaluated including the relationships among the value-chain activities.
A)True
B)False
Q3) Atlas Door relies on technologies that are rather well known and non-proprietary. This opens it up to the potential of A) imitation by rivals.
B) customer abandonment.
C) increased supplier power.
D) government regulation.
Q4) What are the pitfalls of the overall cost leadership strategy? Provide an example for each pitfall and explain why it is a pitfall.
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Chapter 6: Corporate-Level Strategy Creating Value through Diversification
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Transaction costs include all the following costs except A) monitoring costs.
B) negotiating costs.
C) search costs.
D) agency costs.
Q2) Firms that choose to diversify through internal development must develop ________ that allow them to move ________ from initial opportunity recognition to market introduction.
A) strategies; slowly
B) capabilities; quickly
C) capabilities; slowly
D) strategies; quickly
Q3) Management restructuring typically involves changes in the composition of the ________, organizational structure, and reporting relationships.
A) middle management team
B) top management team
C)lower management team
D) board of directors
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Chapter 7: International Strategy Creating Value in Global Markets
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) High pressure for local adaptation combined with low pressure for lower costs would suggest what type of international strategy?
A) global strategy
B) multidomestic strategy
C) transnational strategy
D) overall cost leadership strategy
Q2) ________ are fees that a multinational receives from a foreign licensee in return for its use of intellectual property (trademark, patent, trade secret, technology).
A) Transfer prices
B) Dividends
C) Royalties
D) Intra-corporate inflows
Q3) The need to attain economies of scale encourages multinational firms to operate under a multidomestic strategy.
A)True
B)False
Q4) What is a beachhead strategy and how does it contribute to a company's decision to internationalize?
Page 9
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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94 Verified Questions
94 Flashcards
Source URL: https://quizplus.com/quiz/3028
Sample Questions
Q1) According to the text, which of the following does not make it difficult for entrepreneurial firms to effectively pursue a strategy of differentiation?
A) Differentiation strategies are often expensive to enact.
B) Incumbent firms are constantly seeking opportunities to specialize in market niches.
C) It may be difficult for a young firm to establish a strong brand identity.
D) Implementing superior new technologies may be challenging for entrepreneurial firms.
Q2) When attacked, older and larger firms tend to respond more quickly, but their responses are often more predictable.
A)True
B)False
Q3) The new entry strategy that a firm chooses is dependent upon the ________ and the ________ of the new business concept.
A) riskiness; cost
B) riskiness; potential sales
C) riskiness; innovativeness
D) idea; innovativeness
Q4) Explain what a pioneering new entry means and when it is appropriate to use it.
Page 10
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Chapter 9: Strategic Control and Corporate Governance
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/3029
Sample Questions
Q1) The traditional approach to strategic control relies on feedback from performance measurement to formulate strategy.
A)True
B)False
Q2) Which of the following is not a key control lever of behavioral control?
A) structure
B) culture
C) rewards
D) boundaries
Q3) The board of directors is a group that has a ________ duty to ensure that the company is run consistently with ________ interests of the owners, or shareholders of a corporation and that acts as an ________ between the shareholders and management.
A) legal; short-term; intermediary
B) sworn; long-term; advisor
C) fiduciary; long-term; intermediary
D) formal; short-term; advisor
Q4) Explain why control systems are necessary for strategy implementation.
Q5) Discuss the differences between informational control and behavioural control and when each is appropriate.
11
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Chapter 10: Creating Effective Organizational Designs
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) Discuss the advantages and disadvantages of a simple organizational structure.
Q2) Strategic business unit (SBU) structures are best suited for corporations pursuing ________, whereas holding company structures are best suited for companies with ________ strategies.
A) product-market diversification; international
B) international diversification; product-market
C) related diversification; unrelated diversification
D) unrelated diversification; related diversification
Q3) As firms expand into foreign markets, they generally follow a pattern of change in structure that parallels the changes in their strategies. Which one of the following is not a major contingency that influences the structure they choose?
A) the type of strategy that is driving the company foreign operations
B) the research and development budget commitment
C) product diversity
D) the extent of the company dependence on foreign sales
Q4) Jack Welch, former CEO of GE, believes that all internal and external organizational boundaries should vanish completely.
A)True
B)False
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Chapter 11: Strategic Leadership Creating a Learning
Organization and an Ethical Organization
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104 Verified Questions
104 Flashcards
Source URL: https://quizplus.com/quiz/3031
Sample Questions
Q1) The central key to empowerment in a learning organization is
A) trained employees.
B) effective leadership.
C) sufficient financial resources.
D) rigid structure.
Q2) Which two components of emotional intelligence (EI) deal with the personal ability to manage relationships with others?
A) motivation and self-awareness
B) self-regulation and empathy
C) empathy and social skill
D) motivationand empathy
Q3) While carefully developed policies and procedures guide behavior, they need to be reinforced with all the following except
A) effective communication.
B) enforcement.
C) monitoring.
D) threats of dismissal.
Q4) What are the five key elements of a learning organization and why are they important?
Page 13
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Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
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93 Verified Questions
93 Flashcards
Source URL: https://quizplus.com/quiz/3032
Sample Questions
Q1) One of the following is not a type of risks that executives must address. Which is it?
A) business risk taking
B) financial risk taking
C) personal risk taking
D) product-market risk taking
Q2) Pierre Omidyar saw the opportunity that led to eBay when he linked three items: (1) a personal fascination with creating more efficient markets, (2) the desire of his fiancée to locatehard-to-find collectible Pez dispensers, and (3) the ineffectiveness of local classified ads in locating such items. This is an example of which innovator DNA trait?
A) questioning
B) associating
C) experimenting
D) networking
Q3) For innovation team members to work enthusiastically on innovation projects, it is important to separate the performance of individual team members from the performance of the innovation itself.
A)True
B)False
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