Chapter 5

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The introduction to maturity phases of the industry life cycle curve is characteristically U-shaped.

False

With the onset of the maturity stage, the number of firms in most industries

Tends to decrease significantly

With the onset of the maturity stage, the number of firms in most industries:

Tends to decrease significantly

Start up firms in a new industry are also sometimes known as

de novo entrants

A succession of management gurus including Tom Peters to Gary Hamel have argued that the key to achieving competitive advantage is:

initiating change and achieving internal "revolution"

The text claims that two factors are fundamental to the industry life cycle. One of these is:

The production and diffusion of knowledge

Over time, industry life cycles become longer and longer

False

Over time, industry life cycles become longer and longer.

False

An industry life cycle:

May never enter the decline phase in industries supplying basic essential products or services

Often, to succeed in the evolution from introduction to growth a firm:

Needs to be closely associated with the dominant design which emerges

A new industry life cycle begins when:

New knowledge manifests itself in the guise of a sufficiently radical product innovation

The different stages of the industry life cycles are characterised by:

The evolution of the industry growth rate over time

The typical cause of the decline phase in an industry is:

Any of the above

Dynamic capabilities:

Are the capacity to learn new capabilities

The key success factor in the Introduction phase of the industry is:

Effective product innovation i.e. getting new products launched and in front of customers

To survive going into the maturity phase of the industry life cycle a firm needs to:

Emphasize cost efficiency

Firms often imitate each other's strategies in order to gain legitimacy

False

The industry life cycle comprises 4 stages: introduction, growth, maturity, decline - so is indistinguishable from the product life cycle.

False

A "born global" company is one which:

Interacts across the world from the outset - especially regarding selling

The decline phase of the industry life cycle is caused by:

The emergence of a radically better substitute product, representing a new industry

The determining factors of how calamitous the decline phase turns out to be are:

The way capacity is dismantled as demand declines, and how dramatic is the decline in demand

A dominant design defines the look, functionality and production method for a product and becomes accepted by the industry as a whole.

True

Change in industries is driven chiefly by the forces of technology, market demand and economics.

True

Key feature of the decline phase of an industry life cycle typically include:

aggressive price competition and a declining number of competitors

Key features of the decline phase of the industry life cycle typically include:

aggressive price competition and a declining number of competitors

The building for developing new capabilities include:

all of the above

Scenario analysis is usually used to deal with:

All of the above

The building for developing new capabilities include:

All of the above

The basis of entering a new industry at the Introduction phase is:

Effective product innovation

A dominant design is:

An emergent de facto industry standard broad product format

A technical standard:

Answers b and c

The key success factor for leading firms in the Growth phase is:

Being able to scale up volume production and operations effectively and efficiently

As the industry life cycle progresses, overall strategies need to:

Change in most major aspects

A dominant design is one which is the most noticeable, or receives the most publicity.

False

A firm is said to be "ambidextrous" when it is able to exploit its existing technology successfully

False

Anderson and Tushman point out that all technological change is "competence destroying"

False

The industry life cycle consists of four stages: 1) Introductory, 2) Growth, 3) Plateau, and 4) Rejuvenation.

False

The key success factor for firms surviving in the Maturity phase is:

Maintaining cost efficiency that matches or exceeds that of competitors

Change in industries is driven chiefly by the forces of technology, market demand, and economics

True

Emphasis often shifts from product innovation to process innovation, once a dominant design emerges.

True

Established firms often find it difficult to adapt to new technologies even though they are well aware of these technologies

True

Massive and unpredictable changes occur in some industries, but less so in others.

True

The duration of the industry life cycle varies greatly from one industry to another

True

The emergence of a dominant product design tends to coincide with a shift towards process innovation

True

The emphasis of organizational development is upon individual organizational units and bottom-up change

True

Two main factors drive industry evolution: demand growth and the production and diffusion of knowledge

True

Two main factors drive industry evolution: demand growth and the production and diffusion of knowledge.

True

The statement that organizational capabilities are path dependent means that:

a company's capabilities today are the result of its history

Firms entering a new industry who were already established in a related industry are sometimes known as:

de alio entrants


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