Exam 6: Organizational Strategy

The greater the market commonality, the less intense the direct competition between two companies.

A focus strategy entails using either a cost leadership or a differentiation approach to producing a good or service.

According to Michael Porter, _____ is one of the five industry forces that determine an industry's overall attractiveness and potential for long-term profitability.

Sivinch is a manufacturer and marketer of cosmetics, perfumes, hair-care, and skin-care products. To differentiate its products from other similar brands, Sivinch focuses on educating its customers on general skin and hair care. Its salespeople are trained to answer questions and help customers find solutions. This has helped Sivinch gain _____.

List the four different adaptive strategies. One of them tends to have poorer performance than the others. Explain why.

Valuable, rare, imperfectly imitable resources can produce sustainable competitive advantage only if they are _____ resources.

Resource similarity and _____ are factors that determine the extent to which firms will be in direct competition with each other.

Strategic dissonance is a discrepancy between management's intended strategy and the strategy actually implemented by the managers.

The only kinds of adaptive strategies are defending, analyzing, and reacting.

SpokedWheels Inc. introduced a specialized mountain bike to the market. Two-thirds of its profits come from the sale of mountain bikes. It is recognized worldwide for its ability to design and produce superior mountain bikes that are tough, durable, and reliable. This ability is the company's _____.

When making travel plans, most tourists select the company Travel Book because they perceive that no other tour company can duplicate the customer service and satisfaction that Travel Book has provided over its years of operation. Travel Book uses a very efficient software that allows customers to quickly make or change their travel bookings. Travel Book has apparently created a sustainable competitive advantage by using _____ resources.

In the context of BCG matrix, ​_____ are companies that have a large share of a fast-growing market.

According to Michael Porter, which of the following is one of the five industry forces that determine an industry's overall attractiveness and potential for long-term profitability?

From a competitive standpoint, resource similarity means that the strategic actions your company takes could probably be matched by your direct competitors.

The three steps of the strategy-making process are (1) assess the need for strategic change, (2) conduct a situational analysis, and (3) choose the strategic alternatives.

Samantha's, a chain of coffeehouses, also markets a line of compilation CDs and other non-coffee items. The making and marketing of the CDs and other non-coffee products would be an example of _____.

Explain the basics of portfolio strategy. Identify the best approach to diversification using this strategy. Be sure to explain your rationale for arguing that the specified approach to diversification is the best.

In the context of the strategic reference point theory, the _____ strategy aims to protect an existing competitive advantage.

The _____ is a measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry.

Libra Travels regularly checks the prices at which other travel agencies sell their services to evaluate its position. Libra Travels uses a _____ to measure its competencies.