Quiz 1

__________allow(s) a firm to differentiate its products and services from those of its rivals, creating higher value for the customer or offering products and services of comparable value at lower cost.

Core Competencies

As a rule of thumb, the stronger the five forces, the higher the industry's profit potential, which causes the industry to become less attractive for competitors.

FALSE

In nearly every case, which of the Five Forces is the most important in determining the relative power structure in an industry?

No single force is dominant in most every case

According to Porter's Five Forces approach, the overall goal of applying the Five Forces analysis to an industry is to make a judgement about its

Overall Attractiveness

In recent years a growing number of U.S consumers have become more health-conscious about what they eat. According to the PESTEL Framework this trend could best be classified as a __________trend.

Sociocultural

According to the resource-based view, a firm that differentiates itself from its competitors through its personalized approach to customer service is likely to sustain Its competitive advantage for a long time.

TRUE

The core competencies of a firm are determined by the interplay of its tangible resources and intangible capabilities.

TRUE

A Strategic group will typically include

firms within the same industry.

core competencies are derived from the combination of

key strategic resources and a firm's capabilities

Which of the following will most likely be considered as an airlines core competency?

the airline's ability to make its fleet more fuel efficient than their competitors