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