Strategic Management quiz 1 & 2

T/F: walmart is very profitable because it is in an industry that is very profitable

true

Which of the following are reasons a resource might be inimitable? unique historical conditions socially complex protected by patents all of the above

all of the above

strategy is

a theory

which of the following concepts is not relevant for assessing threats from rivals: entry costs degree of product differentiation number of competing firms rate of industry growth

entry costs

by conducting an _______, a firm identifies the critical threats and opportunities in its competitive environment

external analysis

T/F: outdoor exercise is an example of a substitute product vs. Bally's

true

T/F: internal analysis does not take into account a firm's competitors

false

T/F: the conclusions of internal analysis performed on a given resource will be the same, regardless of industry

false

profitability ratios are typically some measure of assets divided by some measure of profits

false

the only way to gain a competitive advantage is by creating greater perceived customer benefits than your rival

false

T/F: the usefulness of internal analysis relies on rival firms having different resources and capabilities

true

Which of the following is an example of a general environment threat to Bally fitness: yoga studios YMCA Peleton None of the above

none of the above

you are told that company A is at a competitive disadvantage to company B. The profits of company A are

not enough information

Walmart's low-cost culture is highlighted in the case. Which of the following inimitability concepts might be applicable to this course? social complexit patents secrecy

social complexit

for airlines that sell flights from NYC to Boston, Amtrak trains are primarily a _________

substitute

general environment forces affect all industries in about the same way

true

supplier and buyer power determines how economic value is divided within a supply train

true

the size of a firm's competitive advantage is the difference between the economic value a firm is able to create and the economic value rivals are able to create

true

What resource would be the source of a temporary competitive advantage?

valuable and rare, but not inimitable