5 Written Questions
5 Matching Questions
- Transient firms
- Rare resource
- Strategic group
- Direct competition
- a a strategy for reducing risk by buying a variety of items (stocks or, in the case of a corporation, types of businesses), so that the failure of one stock or one business does not doom the entire portfolio.
- b the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions
- c : the firms in a strategic group whose strategies are changing from one strategic position to another
- d a group of companies within an industry that top managers choose to compare, evaluate, and benchmark strategic threats and opportunities.
- e a resource that is not controlled or possessed by many competing firms.
5 Multiple Choice Questions
- providing greater value for customers than competitors can.
- Situation Analysis
- a resource that allows companies to improve efficiency and effectiveness.
- the firms in a strategic group that follow related, but somewhat different strategies than do the core firms
- a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business.
5 True/False Questions
Unrelated diversification → creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures
Competitive Aggressiveness → entrepreneurial firms must be more willing to use unconventional strategies than the firms already existing in a new market space in order to gain an advantage.
What is so important about the vision and mission statement? → related diversification
Shadow-strategy task force → : a committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage.
Stability strategy → a strategy that focuses on improving the way in which the company sells the same products or services to the same customers