6989227
Descripción
Test por Strategy IO, actualizado hace más de 1 año
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Creado por Strategy IO
hace más de 7 años
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Pregunta 1
Pregunta
The number of steps in a firm's value chain that it accomplishes within its boundaries describes the firm's level of
Respuesta
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product differentiation
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diversification.
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vertical integration.
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competitive dynamics.
Pregunta 2
Pregunta
Vertical integration is a type of
Respuesta
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business strategy.
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generic strategy.
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differentiation strategy.
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corporate strategy.
Pregunta 3
Pregunta
When Apple, Inc. opened retail stores to sell its computers and iPods, this was an example of
Respuesta
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forward vertical integration.
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backward vertical integration.
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forward horizontal integration.
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backward horizontal integration.
Pregunta 4
Pregunta
If Dell computers were to open its own factory to manufacture the LCD televisions it sells at its online store, this would be an example of
Respuesta
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forward vertical integration.
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product differentiation.
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forward horizontal integration.
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backward vertical integration.
Pregunta 5
Pregunta
A firm's ________ measures the percentage of a firm's sales that is generated by activities done within the boundaries of a firm.
Respuesta
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value added as a percentage of sales
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simple product diversification
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competitive advantage
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competitive dynamic
Pregunta 6
Pregunta
Which of the following is not used to determine a firm's level of vertical integration using the value added as a percentage of sales approach?
Respuesta
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value added
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net income
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sales
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gross margin
Pregunta 7
Pregunta
A firm with a ________ ratio between value added and sales has brought ________ of the value-creating activities associated with its business inside its boundaries, consistent with a high level of vertical integration.
Respuesta
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low; many
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high; many
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medium; many
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medium; few
Pregunta 8
Pregunta
In 1937, which Nobel Prize-winning economist first articulated the question of vertical integration, i.e., which stages of the value chain should be included within a firm's boundaries and why?
Respuesta
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Ronald Coase
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Adam Smith
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David Ricardo
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Milton Freidman
Pregunta 9
Pregunta
________ exists when a firm is unfairly exploited in an exchange.
Respuesta
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Competitive advantage
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Business level strategy
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Opportunism
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Corporate level strategy
Pregunta 10
Pregunta
A(n) ________ is any investment in an exchange that has significantly more value in the current exchange than it does in alternative exchanges.
Respuesta
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opportunity-specific investment
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transaction-specific investment
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competition-specific investment
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opportunistic investment
Pregunta 11
Pregunta
According to ________ of when vertical integration creates value, vertical integration is valuable when it reduces threats from a firm's suppliers or buyers due to any transaction-specific investments a firm has made.
Respuesta
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firm capability explanations
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opportunity-based explanations
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flexibility-based explanations
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opportunism-based explanations
Pregunta 12
Pregunta
The essence of the ________ to vertical integration is that if a firm possesses valuable, rare, and costly-to-imitate resources in a business activity, it should vertically integrate into that activity otherwise it should not vertically integrate into that activity.
Respuesta
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flexibility-based explanation
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opportunism-based explanation
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firm capability explanation
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opportunity-based explanation
Pregunta 13
Pregunta
To the extent that other firms may have competitive advantages in business activities that a firm is considering to enter through vertical integration, vertically integrating into these activities could put the firm at a
Respuesta
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competitive advantage.
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temporary dynamic disadvantage.
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sustainable competitive advantage.
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competitive disadvantage.
Pregunta 14
Pregunta
________ refers to how costly it is for a firm to alter its strategic and organizational decisions.
Respuesta
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Flexibility
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Dynamic capability
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Opportunism
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Uncertainty
Pregunta 15
Pregunta
Research suggests that, in general, vertically integrating is ________ than not vertically integrating.
Respuesta
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significantly more flexible
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somewhat more flexible
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comparatively flexible
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less flexible
Pregunta 16
Pregunta
A decision-making setting is ________ when the future of an exchange cannot be known when investments in that exchange are being made.
Respuesta
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uncertain
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opportunistic
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flexible
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dynamic
Pregunta 17
Pregunta
A(n) ________ approach to vertical integration suggests that rather than vertically integrating into a business activity whose value is highly uncertain firms should not vertically integrate and instead should form a strategic alliance to manage this exchange.
Respuesta
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alliance-based
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flexibility-based
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firm capabilities-based
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opportunism-based
Pregunta 18
Pregunta
Which of the explanations of vertical integration is the oldest and has received the greatest empirical support?
Respuesta
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opportunism-based
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flexibility-based
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firm capabilities-based
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alliance-based
Pregunta 19
Pregunta
If a firm decided to maintain relationships with several different call center management companies, each of which have adopted different technological solutions to the problem of how to use call center employees to assist customers who are using very complex products, to reduce the uncertainty of whether the people staffing the phone can help the firm's customers, this would be consistent with which explanation of vertical integration?
Respuesta
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opportunism-based
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flexibility-based
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firm capabilities-based
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alliance-based
Pregunta 20
Pregunta
Some observers predict that by ________ an additional 3.3 million jobs in the United States will be outsourced, many to operations overseas.
Respuesta
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2014
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2015
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2016
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2017
Pregunta 21
Pregunta
If a computer company decided to open its own call centers to provide technical support to its corporate customers because the employees in these call centers need a significant level of in-depth training that was highly specialized to the computer company's products, this would be consistent with which explanation of vertical integration?
Respuesta
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opportunism-based
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flexibility-based
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firm capabilities-based
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alliance-based
Pregunta 22
Pregunta
A firm is likely to be among the first in its industry to vertically disintegrate an exchange when
Respuesta
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the firm concludes that the level of specific investment required to manage an economic exchange is high.
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the firm believes that the exchange is costly to imitate.
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the level of uncertainty about the value of an exchange has increased.
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the firm believes that the exchange is rare.
Pregunta 23
Pregunta
Which of the following statements regarding direct duplication and substitutes for vertical integration is accurate?
Respuesta
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A firm's valuable and rare vertical integration choices may be subject to direct duplication and substitutes.
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A firm's valuable and rare vertical integration choices are subject to neither direct duplication nor substitutes.
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A firm's valuable and rare vertical integration choices may be subject to direct duplication but not to substitutes.
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A firm's valuable and rare vertical integration choices may be subject to substitutes but not to direct duplication.
Pregunta 24
Pregunta
The major substitute for vertical integration is
Respuesta
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vertical disintegration.
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strategic alliances.
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a product-differentiation strategy.
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a low-cost strategy.
Pregunta 25
Pregunta
Which organizational structure is used to implement a vertical integration strategy?
Respuesta
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matrix
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functional
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multidivisional
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product-divisional
Pregunta 26
Pregunta
From a CEO's perspective, coordinating functional specialists to implement a vertical integration strategy almost always involves
Respuesta
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conflict resolution.
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competitive positioning.
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product differentiation.
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corporate expansion.
Pregunta 27
Pregunta
If Brenda Thompson, Tom Mix's supervisor, wanted to use a budgeting process to help evaluate Tom's performance but wanted to ensure that using a budget did not encourage Tom to focus on short-term behaviors at the expense of long-term results, she should
Respuesta
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develop the budget herself using realistic goals based on the economic reality facing Tom's function and use both quantitative and qualitative evaluations of the performance of Tom's function and then give the budget to Tom to follow.
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work with Tom in an open and participative process to develop the budget based on the most optimistic scenario possible and use both quantitative and qualitative evaluations of the performance of Tom's function.
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develop the budget herself based on the most pessimistic scenario possible and use both quantitative and qualitative evaluations of the performance of Tom's function and then give the budget to Tom to follow.
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work with Tom in an open and participative process to develop the budget based on the economic reality facing Tom's function and use both quantitative and qualitative evaluations of the performance of Tom's function.
Pregunta 28
Pregunta
Evaluating a functional manager's performance relative to budgets can be an effective control when
Respuesta
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the process used in developing budgets is open and participative.
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the process reflects the economic best-case scenario developed by the functional manager.
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the process reflects the economic worst-case scenario developed by the functional manager.
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the process relies solely on quantitative criteria to evaluate the functional manager's performance.
Pregunta 29
Pregunta
Which committee in a U-form organization meets monthly and usually consists of the CEO and each of the heads of the functional areas included in a firm?
Respuesta
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executive committee
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functional committee
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operations committee
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managerial committee
Pregunta 30
Pregunta
Which committee in a U-form organization meets weekly and reviews the performance of the firm on a weekly basis and typically consists of a CEO and two or three functional senior managers?
Respuesta
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top management team
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executive committee
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operations committee
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functional committee
Pregunta 31
Pregunta
Investments made by employees that have more value in a particular company than in alternative companies are known as
Respuesta
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firm-specific investments.
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individual-specific investments.
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group-specific investments.
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opportunistic investments.
Pregunta 32
Pregunta
According to the opportunism-based explanations of vertical integration, which of the following would be the most appropriate type of compensation to support strategy implementation?
Respuesta
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cash bonuses for corporate performance
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cash bonuses for group performance
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stock options for individual performance
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stock grants for individual performance
Pregunta 33
Pregunta
According to the capabilities-based explanations of vertical integration, which of the following would be the most appropriate type of compensation to support strategy implementation?
Respuesta
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salary
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cash bonuses for corporate performance
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cash bonuses for individual performance
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stock grants for individual performance
Pregunta 34
Pregunta
According to the flexibility-based explanations of vertical integration, which of the following would be the most appropriate type of compensation to support strategy implementation?
Respuesta
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stock options for individual performance
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stock grants for individual performance
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stock grants for corporate performance
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cash bonuses for individual performance
Pregunta 35
Pregunta
________ are payments to employees in a firm's stock.
Respuesta
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Stock grants
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Cash grants
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Flexibility grants
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Option grants
Pregunta 36
Pregunta
________ are when employees are given the right, but not the obligation, to purchase stock at predetermined prices.
Respuesta
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Flexibility grants
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Stock grants
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Grant options
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Stock options
Pregunta 37
Pregunta
The ________ explanations call for compensation that focuses on individual employees, such as cash bonuses for individual performance.
Respuesta
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capabilities-based
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strategically-based
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flexibility-based
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opportunism-based
Pregunta 38
Pregunta
Compensation that focuses on groups of employees such as cash bonuses and stock grants are best suited for ________ explanations of vertical integration.
Respuesta
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flexibility-based
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capabilities-based
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strategically-based
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opportunism-based
Pregunta 39
Pregunta
The ________ logic suggests that compensation that has a fixed and known downside risk and significant upside potential is important for firms implementing vertical integration strategies.
Respuesta
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opportunism
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strategic
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capabilities
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flexibility
Pregunta 40
Pregunta
Firm-specific investments are a type of ________ investments.
Respuesta
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operational
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contingent
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transaction-specific
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horizontal
Pregunta 41
Pregunta
If Digipics were to begin manufacturing lenses for the cameras they assembled, this would be an example of
Respuesta
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backward vertical integration.
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a strategic alliance.
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forward vertical integration.
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opportunism.
Pregunta 42
Pregunta
If Digipics were to begin selling the cameras it assembled directly to customers through a website operated by the company, this would be an example of
Respuesta
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backward vertical integration.
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a strategic alliance.
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forward vertical integration.
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opportunism.
Pregunta 43
Pregunta
If one of the suppliers that Digipics purchases its components from purposefully delivered a batch of its product that was substandard but did not inform Digipics of this, this would be an example of
Respuesta
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flexibility.
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opportunism.
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uncertainty
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vertical integration.
Pregunta 44
Pregunta
If Digipics were to agree to spend a significant amount of money to establish a new assembly line for a large client, PicPro, that has unique needs that would make this assembly line largely useless for any other customer, the funds Digipics spent in establishing this line would be an example of
Respuesta
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forward vertical integration.
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backward vertical integration.
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a transaction-specific investment.
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opportunism.
Pregunta 45
Pregunta
The fact that it would be very costly for Digipics to alter its operations if the large customer referred to in the previous question decided to stop doing business with Digipics suggests that Digipics has ________ in this situation.
Respuesta
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low flexibility
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low opportunism
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high flexibility
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high opportunism
Pregunta 46
Pregunta
TerraLoc's decision to manufacture the battery in-house is most consistent with which explanation of vertical integration?
Respuesta
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Flexibility-based explanations
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Firm capability-based explanations
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Alliance-based explanations
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Opportunism-based explanations
Pregunta 47
Pregunta
TerraLoc's development of the new battery technology is likely to
Respuesta
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reduce the rarity of TerraLoc's vertical integration strategy since competitors can purchase batteries from other sources.
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increase the rarity of TerraLoc's vertical integration strategy since TerraLoc has reduced uncertainties related to increased battery life in its products.
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increase the imitability of TerraLoc's vertical integration strategy since competitors can purchase traditional batteries from other sources.
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decrease the imitability of TerraLoc's vertical integration strategy since it increases competitors' flexibility.
Pregunta 48
Pregunta
TerraLoc is most likely to use the ________ organizational structure.
Respuesta
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matrix
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product-based multidivisional
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functional
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geography-based multidivisional
Pregunta 49
Pregunta
If TerraLoc were to use a U-form organizational structure and the CEO decided to use budgets as a management control but wanted to make sure that the managers did not become too focused on the short term, the CEO should do all of the following except
Respuesta
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use an open process in developing budgets.
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determine budgets for her managers and allow them to focus only on meeting the budgets.
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use both quantitative and qualitative evaluations of managers' performance.
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make sure that the process used in developing budgets reflects the economic reality facing the firm's managers.
Pregunta 50
Pregunta
If TerraLoc wanted to expand into selling its GPS units through company-owned retail stores, this would be an example of ________
Respuesta
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forward vertical integration.
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backward vertical integration.
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opportunism.
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a joint venture.
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