7297669
Descripción
Test por Strategy IO, actualizado hace más de 1 año
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Creado por Strategy IO
hace casi 8 años
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Pregunta 1
Pregunta
The ________ consists of broad trends in the context in which a firm operates that can have an impact on a firm's strategic choices.
Respuesta
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micro-environment
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general environment
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task environment
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internal environment
Pregunta 2
Pregunta
All of the following are elements of the general environment except
Respuesta
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technological trends.
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demographic trends.
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industrial trends.
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cultural trends.
Pregunta 3
Pregunta
________ is/are the distribution of individuals in a society in terms of age, sex, marital status, income, ethnicity, and other personal attributes that may determine buying patterns.
Respuesta
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Demographics
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Economics
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Technological trends
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Culture
Pregunta 4
Pregunta
The values, beliefs and norms that guide behavior in a society are known as
Respuesta
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climate.
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demographics.
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economics
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culture.
Pregunta 5
Pregunta
When activity in an economy is relatively low for a short period of time, the economy is said to be in a
Respuesta
-
recession.
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depression
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prosperous cycle.
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boom
Pregunta 6
Pregunta
Civil wars, political coups, terrorism, wars between countries, famines, and country or regional economic recessions are all examples of which element of the general environment?
Respuesta
-
demographics
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specific international events
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economics
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culture
Pregunta 7
Pregunta
In the S-C-P model, ________ refers to the strategies that firms in an industry implement
Respuesta
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structure
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strategy
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conduct
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performance
Pregunta 8
Pregunta
In a perfectly competitive industry
Respuesta
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there are relatively few firms operating in the industry
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the products and services sold by firms in the industry are very different from each other
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it is very costly for firms to enter the industry
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it is not very costly for firms to enter or exit the industry
Pregunta 9
Pregunta
Within the five forces framework, the five most common threats facing firms from their competitive environment include each of the following except
Respuesta
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substitutes
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complementors
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suppliers.
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buyers
Pregunta 10
Pregunta
Firms in industries characterized by ________ can expect to earn only competitive parity
Respuesta
-
perfect competition
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monopolistic competition
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oligopoly
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monopoly
Pregunta 11
Pregunta
Which type of competition is characterized by a large number of firms, heterogeneous products and low cost of entry and exit?
Respuesta
-
perfect competition
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monopolistic competition
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oligopoly
-
monopoly
Pregunta 12
Pregunta
Which type of competition is characterized by a small number of firms, homogeneous products and costly entry and exit?
Respuesta
-
perfect competition
-
monopolistic competition
-
oligopoly
-
monopoly
Pregunta 13
Pregunta
A(n) ________ is any individual, group, or organization outside a firm that seeks to reduce the level of that firm's performance
Respuesta
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environmental threat
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environmental opportunity
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environmental equalizer
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competitive advantage
Pregunta 14
Pregunta
Firms that have either recently begun operations in an industry or that threaten to begin operations in an industry soon are considered to be ________ in the five forces framework
Respuesta
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barriers to entry
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new competitors
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suppliers
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buyers
Pregunta 15
Pregunta
________ exist when a firm's costs rise as a function of its volume of production
Respuesta
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Economies of scale
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Economies of scope
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Diseconomies of scale
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Learning curve effects
Pregunta 16
Pregunta
All other things being equal, which of the following would lead to lower barriers to entry in an industry
Respuesta
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The existence of economies of scale in the industry
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Products are highly differentiated in the industry
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Industry incumbents have learning-curve cost advantages
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Raw materials are widely and readily available at a competitive price
Pregunta 17
Pregunta
Frequent price cutting by firms in an industry, frequent introduction of new products by firms in an industry and intense advertising campaigns are indications of
Respuesta
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high power of buyers.
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high threat of new entrants
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high levels of direct competition
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high threat of substitutes.
Pregunta 18
Pregunta
The threat of direct competition tends to be high when
Respuesta
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there are few firms in an industry and these firms tend to be unequal in size
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the industry growth rate is higher
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firms are unable to differentiate their products.
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production capacity can be added in small increments
Pregunta 19
Pregunta
The products or services provided by a firm's direct competitors meet ________ customer needs in ________ ways as the product provided by the firm itself.
Respuesta
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different; the same
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approximately the same; the same
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different; different
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approximately the same; different
Pregunta 20
Pregunta
Which of the following statements regarding substitutes is accurate
Respuesta
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In the extreme, substitutes can ultimately replace an industry's products or services
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Substitutes place a floor on the prices firms in an industry can charge and on the profits firms in an industry can earn.
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Substitutes rarely impact the profitability that firms in an industry can earn
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The importance of substitutes in reducing the profit potential in a wide variety of industries is decreasing
Pregunta 21
Pregunta
________ make a wide variety of raw materials, labor and other critical assets available to firms
Respuesta
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buyers
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Rivals
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Suppliers
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Substitutes
Pregunta 22
Pregunta
Which of the following attributes makes suppliers a stronger threat?
Respuesta
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The supplier's industry is dominated by a small number of firms
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The product or service provided by suppliers is not highly differentiated
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Suppliers are threatened by substitutes.
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Suppliers are not able to engage in forward vertical integration
Pregunta 23
Pregunta
Which of the following is the best example of forward vertical integration
Respuesta
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a car dealership opening up its own automobile manufacturing plant
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a car company opening its own dealerships to sell its products directly to customers
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a car company opening its own chain of video rental stores
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a car company opening a plant to product motorcycles
Pregunta 24
Pregunta
Buyers tend to have less power when
Respuesta
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a firm has only one buyer, or a small number of buyers
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the products or services being sold to buyers are standard and not differentiated
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the supplies they purchase are an insignificant portion of the costs of their final products
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they are not earning significant economic profits
Pregunta 25
Pregunta
Overall, the average level of performance in an industry is likely to be highest when
Respuesta
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the threat level of all five forces is high
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the threat level of rivalry and substitutes is low, but the threat level of suppliers, buyers and new entrants is high.
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the threat level of rivalry, substitutes and new entrants is high, but the threat level of buyers and supplies is low
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the threat level of all five forces is low.
Pregunta 26
Pregunta
If your customers value your products more when they have your product and another firm's product rather than when they have your product alone, the other firm is considered to be a
Respuesta
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competitor
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complementor.
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rival.
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substitute.
Pregunta 27
Pregunta
An industry in which a large number of small or medium-sized firms operate and no small set of firms has dominant market share or creates dominant technologies is known as a(n) ________ industry
Respuesta
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fragmented
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consolidated
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mature
-
emerging
Pregunta 28
Pregunta
The major opportunity facing firms in fragmented industries is
Respuesta
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refining their current products and emphasizing an increase in service quality
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developing new products and technologies
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creating a first-mover advantage through technological leadership
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the implementation of strategies that began to consolidate the industry into a smaller number of firms.
Pregunta 29
Pregunta
The advantages that come to firms that make important strategic and technological decisions early in the development of an industry are known as ________ advantages
Respuesta
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first-mover
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competitive
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comparative
-
emerging
Pregunta 30
Pregunta
In general, first-mover advantages can arise from any of these sources except
Respuesta
-
technological leadership
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preemption of strategically valuable assets.
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the creation of customer switching costs
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using an imitative strategy to introduce improved versions of competitors' new products
Pregunta 31
Pregunta
Mature industries are characterized by
Respuesta
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an increase in total industry demand
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faster increases in production capacity
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a slowdown in the introduction of new products or services.
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a decrease in the amount of international competition.
Pregunta 32
Pregunta
The most promising opportunity for a firm in a declining industry is to
Respuesta
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establish itself as a first mover in the post-shakeout industry
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become a market leader in the pre-shakeout industry
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become a fast follower in the pre-shakeout industry
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merge with another firm.
Pregunta 33
Pregunta
Firms in a declining industry that engage in a long, systematic phased withdrawal from the industry, extracting as much value as possible during the withdrawal period, are following a(n) ________ strategy
Respuesta
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niche
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expansion
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divestment
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harvest
Pregunta 34
Pregunta
Industries in which a large number of small or medium-sized firms operate and no small set of firms has dominant market share or creates dominant technologies are called ________ industries
Respuesta
-
fragmented
-
mature
-
emerging
-
declining
Pregunta 35
Pregunta
________ are advantages that come to firms that make important strategic and technological decisions early in the development of an industry
Respuesta
-
Visionary advantages
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First-mover advantages
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Comparative advantages
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Missionary advantages
Pregunta 36
Pregunta
A consolidation strategy is a good option in what type of industry
Respuesta
-
mature
-
emerging
-
fragmented
-
declining
Pregunta 37
Pregunta
________ are resources required to successfully compete in an industry.
Respuesta
-
Strategically valuable assets
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Technological leader strategies
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Process innovations
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Product innovations
Pregunta 38
Pregunta
________ costs exist when customers make investments in order to use a firm's particular products or services
Respuesta
-
First-mover-switching
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Technological leadership-switching
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Customer-switching
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Process-switching
Pregunta 39
Pregunta
Based on the above description, the hardwood furniture industry can best be described as a(n) ________ industry.
Respuesta
-
emerging
-
fragmented
-
consolidated
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declining
Pregunta 40
Pregunta
The level of direct competition in the hardwood furniture industry can best be described
Respuesta
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low because of the numerous firms in the industry and the slowing growth rate
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low because of the slowing growth rate and the competition from composite wood furniture
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high because of the numerous firms in the industry and the slowing growth rate
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moderate because the slowing growth rate offsets the numerous firms in the industry
Pregunta 41
Pregunta
The threat of suppliers in the hardwood furniture can best be described as
Respuesta
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low because there are a large number of suppliers selling an undifferentiated product.
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high because there are a large number of suppliers selling an undifferentiated product
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moderate because the large number of suppliers is offset by the undifferentiated products they are selling
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moderate because of the slowing growth rate in the industry and the commodity nature of the products produced by suppliers
Pregunta 42
Pregunta
If Hickory Divine were to open its own chain of furniture stores, this would be an example of
Respuesta
-
complementors.
-
backward vertical integration
-
consolidation.
-
forward vertical integration
Pregunta 43
Pregunta
In this example, composite wood furniture would be an example of a(n)
Respuesta
-
substitute
-
rival.
-
new entrant
-
complementor.
Pregunta 44
Pregunta
The threat of buyers in this industry is best described as
Respuesta
-
high because there are many suppliers, none of which represents a significant portion of the hardwood furniture industry's sales.
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low because of the slow industry growth and the commodity nature of the suppliers.
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low because there are many suppliers, none of which represents a significant portion of the hardwood furniture industry's sales
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high because of the slow industry growth and the commodity nature of the suppliers
Pregunta 45
Pregunta
Which of the following best describes the competition in the U.S. online auction industry
Respuesta
-
perfect competition
-
monopolistic competition
-
oligopoly
-
monopoly
Pregunta 46
Pregunta
For BidBuy, services such as those offered by DollarDog that make BidBuy's services more valuable for customers who use the services of both companies are best described as
Respuesta
-
complementors.
-
substitutes
-
rivals
-
suppliers
Pregunta 47
Pregunta
Factors such as BidBuy's feedback rating system that are valuable to the company's customers but which are not useful on other online auction sites are examples of
Respuesta
-
first-mover advantages.
-
complementors.
-
substitutes
-
customer-switching costs
Pregunta 48
Pregunta
BidBuy has a ________ advantage
Respuesta
-
visionary
-
global
-
first-mover
-
comparative
Pregunta 49
Pregunta
The products or services provided by a firm's substitutes meet ________ customer needs in ________ ways as the product provided by the firm itself.
Respuesta
-
different; the same
-
approximately the same; the same
-
different; different
-
approximately the same; different
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