MIS 301 Ch 2

_____ forces, which are also known as the Industry and Competitive Analysis, are a popular framework for examining a firm's competitive environment
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Which statement about technology is true?

A. Technology alone is enough to provide sustainable competitive advantage to a firm.
B. Technological advancements can usually be copied by rivals, leading to a profit-eroding arms race.
C. Technology plays a trivial role in creating strategic differences.
Technology plays a trivial role in creating strategic differences.
D. Late entrants cannot use technology to gain a share of the industry.
E. Technological advancements are not important in strengthening a firm's strategic advantages.
An approach known as the _____ view of competitive advantage shows that if a firm is to maintain sustainable competitive advantage, it must control a set of exploitable resources with four critical characteristics. These resources must be (1) valuable, (2) rare, (3) imperfectly imitable, and (4) nonsubstitutable.
This is the set of interrelated activities that bring products or services to market.Value ChainThis is the symbolic embodiment of all the information connected with a product or service.BrandThis occurs when a product or service becomes more valuable as the number of users increases.Network ExternalitiesAccording to the text, platitudes such as _____________ can put firms dangerously at risk.Follow, don't leadWhich of the following can increase the bargaining power of buyers?Greater options of productsHow did Apple overcome Google as the dominant mapping platform on iOS?Apple's control of iOS gave it control of the distribution channel to reach its users, kicking Google out as the default mapping app and capturing the majority of user engagement.According to the text, Amazon, along with many other firms that have risen during the digital age, has a highly ____ cost structure when compared to traditional rivals..Scalable_____ ability to succeed after being late to the search and mobile party is a story about the failure of incumbents to monitor their competitive landscape, recognize new rivals, and react to challenging offerings.Google'sWhich of the following is one of the primary parts of the value chain?Outbound LogisticsWhen a firm's financial performance consistently outperforms its industry's peers, it can be said that the firm benefits from _____.Sustainable competitive advantageWhen one party has more or better information than its counterparty, the decision situation is called a(n) _____Information asymmetry.Michael Porter says that the reason many firms suffer margin-eroding competition is because they have defined themselves according to operational effectiveness rather than _____.Strategic positioningIn the crowded market space of 175 mattress firms, CNBC's report that "you can't tell them apart" reinforces the idea that similar offerings becomeCommoditizedFirms like Blockbuster, Sotheby's, and Barnes & Noble were put at risk by operating under the following platitude:Follow, Don't lead